Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO, FRA:1NOR) has outlined a busy exploration runway across its Australian gold portfolio, with multiple drill programs under way or imminent following a March quarter focused on target generation and project advancement.
The release captures key activities from the March period and sets the stage for an increasingly active exploration phase through 2026.
Drilling momentum builds across Pilbara
Novo is now executing several drill programs targeting structurally controlled gold and polymetallic systems, with early-stage work transitioning into drill-ready opportunities.
Key exploration highlights include:
- Wyloo Antimony Project: ~2,500 metres of reverse circulation (RC) drilling under way targeting a large polymetallic system with antimony, silver and base metals
- Cronus Gold Prospect: ~2,000 metres of planned RC drilling across the Titan Shear to test structural targets
- Balla Balla Project: 6,000 metres of aircore drilling planned to follow up anomalous zones along the Scholl Shear
- Teichman Gold Project: drilling preparation under way for Q3 2026, pending approvals
These programs aim to test multiple structural and geochemical targets generated from earlier fieldwork across Novo’s Pilbara tenure.
Novo Pilbara and Onslow tenure showing main projects and significant prospects.
Belltopper and eastern states portfolio advancing
Outside Western Australia, Novo continues to progress the Belltopper Gold Project in Victoria, where an updated 2026 exploration target outlines:
- 2.1–3.1Mt at 6.7–8.9 g/t gold
- 460,000–880,000 ounces of contained gold (conceptual target)
Drill planning is under way for H2 2026 to test high-priority reefs and improve confidence in the target.
Belltopper Gold Project location map with regional gold occurrences and major structures
In New South Wales, the Tibooburra Gold Project is also moving towards drilling, with expanded tenure and targeting work focused on historically mineralised trends.
Location map showing Novo’s NSW projects
Funding position supports next phase
Novo ended the period with:
- ~A$11 million in cash
- ~A$21 million in investments
The company also completed the first tranche of a placement raising gross proceeds of about A$6.2 million, with a second tranche subject to shareholder approval.
Webinar to unpack March quarter activity and outlook
Novo will provide further detail on its March quarter activities and forward plans via an investor webinar hosted by executive co-chairman Mike Spreadborough.
The session will include a presentation and Q&A, with a recording to be made available on the company’s website.
- Date: 1 May 2026
- Time: 11:00am AEST (Sydney/Melbourne)
- Registration link: https://us02web.zoom.us/webinar/register/WN_kvLbdvx3SpKB-suDtDVKKw#/registration
Active year ahead
With multiple drill programs under way and a broad pipeline of targets across the Pilbara and eastern states, Novo is entering a more active phase of exploration.
The coming months are expected to deliver a steady flow of results as the company begins testing several priority targets across its portfolio.