Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO) welcomes the actioning of two drilling programs at the flagship Becher Project in the Pilbara region of Western Australia, targeting gold and base metal mineralisation at the Heckmair and Lowe prospects.
De Grey Mining, Novo’s farm-in and joint venture (JV) partner, will drill 28,000 metres of combined aircore and reverse circulation (RC) drilling on the project, adding to the 10,500 metres already completed last year.
The Lowe prospect previously produced results of up to 8 metres at 4.7 g/t gold from 97 metres while Heckmair generated a 24-metre multi-element intersection that included gold, silver, copper, lead and zinc mineralisation.
Becher is part of the Egina Gold Camp, which is being operated under the Egina Joint Venture. De Grey Mining is earning-in through a minimum of $7 million in exploration investment this year and a further $25 million over the next four years to earn a 50% stake.
Drilling holds “exciting” potential
“This is an exciting time for the Egina JV with the recommencement of aircore and RC drilling programs at our flagship Becher Project,” Novo Resources executive co-chair and acting CEO Mike Spreadborough said.
“De Grey is focused on undertaking a further 28,000 metres of combined drilling, which of course is a follow-on from the initial program completed at the end of 2023 and will continue to advance key targets identified by Novo historically.
“Becher is a highly prospective and high-priority exploration target. We eagerly await the results of the drilling programs and look forward to updating shareholders in due course.”
Becher sits directly beside De Grey Mining’s 12.7-million-ounce Hemi Gold Project. Exploration at Becher has identified intrusion-hosted and structurally controlled gold mineralisation, similar in nature to Hemi’s deposit.
In addition to drilling at Becher, Novo is also undertaking 4,000 metres of RC drilling at Nunyerry North, expected to be completed in July with assays available later that month.
Once drilling at Nunyerry North is complete, Novo expects to shift to aircore drilling at the Balla Balla Gold Project or RC drilling in the Karratha District gold-copper and platinum-palladium targets in late July this year, depending on the timing of heritage surveys and final approvals.