Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO, FRA:1NOR) is preparing to launch a 2,700-metre reverse circulation drilling program at the Tibooburra Gold Project in New South Wales, targeting extensions to high-grade mineralisation at the Clone prospect and a previously undrilled quartz-reef trend at Pioneer South.
Drilling is expected to begin in late September quarter 2026, subject to regulatory and landholder approvals, and will comprise about 1,700 metres at Clone and 1,000 metres at Pioneer South.
The program marks the second stage of Novo’s farm-in and joint venture arrangement with Manhattan Gold Corporation Ltd Manhattan Gold Corp Ltd (ASX:MHC, OTC:MHTZF, FRA:32U) and its subsidiary Awati Resources Pty Ltd.
Location, tenure and key prospects at Tibooburra, NSW.
Clone drilling targets open high-grade shoot
Novo plans 11 RC holes at Clone to test the northern, down-plunge extension of a shallow high-grade gold shoot defined over roughly 300 metres of strike and to a vertical depth of 90 metres.
The mineralisation remains open to the north, with drilling to include a 100-metre step-out traverse and selected infill and down-dip holes targeting potential parallel lodes.
Previous drilling returned results including 12 metres at 5.90 g/t gold from 16 metres, including 5 metres at 13.74 g/t, as well as 17 metres at 2.40 g/t from 59 metres and 6 metres at 8.39 g/t from 82 metres.
The Tibooburra Gold Project showing basement geology (darker colours) versus younger cover sequences (lighter colours) and key structural architecture. Solid red lines represent known mineralised trends; dashed red lines are interpreted mineralised trends. Only key prospects are depicted.
First drilling planned at Pioneer South
At Pioneer South, Novo will complete eight RC holes across four sections to test two steeply dipping, historically worked quartz reefs.
The main reef can be traced at surface for about 600 metres but has never been drilled. Rock-chip sampling along the trend returned consistent grades above 1 g/t gold, with peak results of 19.8 g/t, 8.12 g/t and 5.83 g/t.
Pioneer South forms part of the broader Pioneer prospect, which is defined by a coherent gold-in-soil anomaly extending for more than two kilometres. Limited historical drilling elsewhere at Pioneer returned up to 5 metres at 6.96 g/t gold from 199 metres, including 1 metre at 33.9 g/t.
Farm-in agreements finalised
Novo, Manhattan and Awati have signed the formal joint venture and option agreement covering six exploration licences in the Albert Goldfields.
Novo is required to spend A$1.5 million to earn a 70% interest in the precious and base metals rights, with A$1.31 million spent as of June 30, 2026. Awati will retain a 30% interest and remain free carried through completion of a bankable feasibility study.
Next steps
The drilling campaign is expected to take three to four weeks, including mobilisation.
Novo will also continue regional stream sediment, soil and rock-chip sampling during the second half of 2026 to identify additional gold anomalies and build a pipeline of targets for future drilling.
