Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO) has unveiled plans to embark on a large-scale diamond drilling program at the Belltopper Gold Project in Victoria, Australia.
Region for gold success
The project is only around 50 kilometres south of Agnico Eagle’s Fosterville Gold Mine in the Bendigo Tectonic Zone, where more than 60 million ounces of gold have been produced in the past.
This latest initiative follows the success of the company's previous drill campaign conducted from 2021 to 2022, which generated numerous significant intersections, including the Missing Link Reef, Missing Link Granite, O'Connor's and Queens Birthday Reefs, and the Leven Star Reef.
The company has also taken advantage of a wealth of essential mining and exploration data obtained from digitised historic records, forming a comprehensive 3D target model.
Novo executive co-chair and acting CEO Mike Spreadborough said: “Novo is excited to commence its diamond drill program at Belltopper in the coming weeks.
“The program consists of approximately 2,300 metres with six primary planned drill collars designed to test the highest priority targets at Belltopper.
“Significant work has already gone into drilling, mapping and surface sampling, ground and airborne geophysics and other key techniques to develop an evolving 3D prospectivity model, which provides a solid framework for drill targeting.”
Meticulous design
The upcoming drill program, spanning 2,300 metres, will be meticulously designed to explore a series of newly identified high-priority structural and geophysical targets.
These targets include the pursuit of high-grade, epizonal, 'Fosterville-style' mineralisation within key regional anticlines.
Among the noteworthy targets is the evolving high-grade zone situated on the Leven Star reef. In 2022, previous drilling in this area yielded impressive results, including:
- 14 metres at 6.1 g/t gold from 120 metres;
- 10 metres at 4.9 g/t gold from 173 metres; and
- 4 metres at 8.6 g/t gold from 188 metres.
The program will investigate two high-tenor (IP) chargeability anomalies within a priority mineralised corridor.
The extensive drilling campaign is expected to span three months, with assay results set to be reported throughout the first half of 2024.