Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO) has provided a round-up of its raft of activity in 2024 across its Western Australian and Victorian gold projects.
The company has been working on extensive exploration initiatives across its Western Australian and Victorian gold portfolio and has made considerable inroads this year, particularly at the Egina Gold Camp.
Operations at the Egina Gold Camp in the Pilbara, Western Australia, in the last quarter of 2023 involved comprehensive aircore and reverse circulation (RC) drilling at the Becher Project.
Highly prospective gold belt
Under Novo’s steerage, the Egina Gold Camp has emerged as a highly prospective gold belt in the Pilbara. It encompasses the Becher and Nunyerry projects, known for their complex geological structures and significant gold potential.
The camp is strategically situated close to De Grey Mining Limited (ASX:DEG)'s Hemi Gold Project to the north, which boasts a 12.7 million-ounce gold resource.
Novo's exploration in this area, including the Egina earn-in/Joint Venture (JV) with De Grey, has been a focal point for the past eighteen months.
At Becher, part of the Egina JV, with De Grey earning a 50% interest, more than 10,500 metres of drilling was conducted in 2023.
This included 271 infill aircore holes, or 7,536 metres, in the last quarter of the year, targeting the Heckmair/Irvine and Bonatti prospects.
An ongoing RC drill program saw the completion of the first 29 drill holes – 4,154 metres – focusing on the Heckmair/Irvine and Lowe prospects.
Final assay results are anticipated in the first quarter of 2024.
The company also delivered positive results from its maiden 2,424-metre shallow RC drill program at Nunyerry North, a high-priority exploration target owned 70% by Novo and 30% by the Creasy Group.
Further drilling to come in 2024
This program tested high-grade surficial gold anomalism and defined mineralised quartz veining zones. Planning is afoot for further RC drilling and a deep diamond drilling program in the first half of the new year.
The 100% Novo-owned Balla Balla project, covering over 1,200 square kilometres in the northwestern Pilbara, focuses on intrusion-related and structurally hosted gold.
Recent geophysical interpretation and historical data analysis have enhanced the understanding of this area's prospectivity.
At the Belltopper Gold Project in Victoria, diamond drilling of high-grade targets is ongoing.
The first two of the planned six-hole, 2,300-metre diamond drilling program are completed, with the rest scheduled for early 2024.
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