In light of recent global strategic metals supply changes, Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO). has evaluated the antimony and gold potential of its West and Central Pilbara land holdings, a move that has delivered positive results.
Novo reviewed extensive geochemical and geological datasets across its West and Central Pilbara landholding targeting antimony and gold potential. It determined that two prospects in the early stages of exploration rank highly for antimony potential — the historical Sherlock Crossing (Clarke) antimony mine and the Southeast Wyloo antimony-gold stream sediment anomaly.
These prospects are located on tenements that are 100% owned by Novo subsidiaries and are in the early stages of exploration.
Sherlock Crossing (Clarke) antimony mine
The Sherlock Crossing antimony mine was discovered in 1906 and operated from 1907 to 1916. Novo conducted reconnaissance work, collected rock chip samples and undertook soil sampling at Sherlock Crossing in 2022 with peak results of 1.71 g/t gold and 592 parts per million (ppm) antimony.
Novo will conduct follow-up sampling and validation of historical high-grade rock chip data, heritage surveys, and drilling results at the main workings, as well as soil and rock chip sampling and geochemical mapping at the western stream anomaly.
Novo’s rock chip sample W19909 at Sherlock Crossing, showing the subcrop in the area covered with flood plain sediments. Results include 1.71 g/t gold and 592 ppm antimony.
Southeast Wyloo
At Southeast Wyloo there are two, 2-kilometre-long, high-order antimony (± gold) stream sediment anomalies. Reconnaissance rock chip sampling completed by Novo in mid-2023 yielded peak results of 387 g/t silver, 5.0% lead, 1.6% zinc, 2.4% copper, 0.38% antimony, and 0.52 g/t gold.
NVO intends to begin reverse circulation (RC) drilling over the primary targets within the eastern anomaly once heritage surveys and geochemical testing including soil, rock chip and channel sampling are complete. At the western target, the company will begin with stream sediment and soil sampling.
Antimony in demand
Novo says the importance of antimony has increased significantly since China announced export restrictions in August, which are set to commence in mid-September.
Since the start of 2024 the price of antimony has nearly doubled and has hit record highs.
The critical metal is predominantly used in flame retardant products, solar panels, lead-acid batteries and in the defence industry. China accounted for 48% of global antimony mine production in 2023.
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