Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO) has completed a six-hole, 2,529-metre, diamond drilling program at its Belltopper Gold Project in Victoria, Australia, with multiple new gold intercepts and the discovery of two new independent reefs with strike potential.
“It is exciting to see promising results in the Belltopper drill results and identifying new gold reefs," said Novo executive co-chairman and acting CEO Mike Spreadborough.
"Our team is focused on determining the best way forward following the results received.
“Our exploration activity across key assets continues to deliver exciting results and importantly, we are well-funded to continue our strong exploration program throughout 2024.”
The Belltopper Gold Project location map with focus area for recent completed drilling.
Positive drilling results
The drilling program resulted in new gold reefs being delineated and extension potential demonstrated on several key historic reefs, while a new high-priority northwest trending target corridor was also defined.
The significant drilling intercepts include:
Drill hole BTD001 -
- 5.6 metres at 3.14 g/t gold from 219.8 metres and 4.25 metres at 5.88 g/t from 274.75 metres, including 2 metres at 11.15 g/t; and
- 1.94 metres at 2.37 g/t from 230 metres on the Leven Star Reef.
This hole extended mineralisation up to 120 metres down-dip on the Leven Star Reef in an emerging high-grade zone.
BTD004 -
- 2 metres at 15.18 g/t gold from 9 metres on a newly discovered reef.
BTD005 -
- 12.26 metres at 1.45 g/t gold from 185 metres, including 4.6 metres at 2.64 g/t, on the Missing Link Reef.
BTD006 -
- 7 metres at 1.88 g/t gold from 179 metres, including 3.19 metres at 3.42 g/t, on the Piezzi Reef, a parallel structure to the O’Connors Reef.
BTD003 -
- Anomalous gold indicates a potential northeast extension to the Leven Star Reef in addition to evidence for a prospective parallel structure (the Butchers Gully Fault).
BTD002 -
- Intersected the Hanover Reef and discovered an additional, parallel reef (the Welcome Fault) returning 4.1 metres at 2.37 g/t gold from 36.1 metres. This is the only hole drilled into this developing target corridor.
Novo notes that structural logging confirms the geometry and position of major anticline corridors, which remain priority targets for structurally controlled high-grade gold events such as those seen at the nearby Fosterville gold mine.
Range of styles
The significant gold results span a range of mineralisation styles including oblique to stratigraphy high-grade shear or fault-related mineralisation analogous to that at Costerfield or Stawell mines; layer-parallel laminated gold-bearing quartz, quartz breccia, and west-dipping mineralised faults analogous to high-grade Victorian deposits such as at Fosterville mine.
It also included broad, low-grade mineralisation associated with the anticline saddle reef-style that has contributed significantly to the historical gold endowment of the nearby Bendigo and Castlemaine goldfields.
Work during the third quarter of 2024 will focus on reviewing and re-logging key historic drill holes from the developing target corridors at Belltopper and will include a detailed review of the Leven Star resource.
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