Novo Resources (TSX:NVO) has issued an exploration update on its key projects in the Pilbara region of Western Australia. The update highlights significant developments at the Egina Gold Camp, Balla Balla Gold Project, and Nunyerry North, alongside recent advancements in joint venture activities.

Exploration Efforts at Egina Gold Camp and Balla Balla Gold Project

Novo Resources has been actively exploring the Mallina Basin and adjacent areas in the Pilbara since 2017, focusing primarily on gold but also investigating potential for lithium, base metals, and other commodities. This strategic exploration has led to notable successes, particularly with the discovery at Nunyerry North in 2023 and the formation of joint ventures with De Grey Mining (Egina JV) and Sociedad Quimica y Minera de Chile S.A. (SQM) under the Harding Battery Metals Joint Venture (HBMJV).

The Egina Gold Camp comprises a contiguous package of tenements situated within structurally complex, gold-fertile corridors of the Mallina Basin. This area, which includes the Nunyerry North prospect, has been a focal point of Novo’s exploration programs over the past 18 months, resulting in significant mineral discoveries.

Nunyerry North Drilling Results

In late 2023, Novo conducted a first-pass reverse circulation (RC) drilling program at Nunyerry North, focusing on a central zone of structurally controlled outcropping quartz veins. The program yielded high-grade gold intercepts, particularly in the Main Lode #1, situated within a brittle basalt unit between two shear zones. Noteworthy results include:

– 6 meters (m) at 6.12 grams per tonne (g/t) of gold (Au) from 37 m, including 5 m at 7.28 g/t Au from 37 m (NC017).
– 11 m at 2.52 g/t Au from 22 m, including 6 m at 4.19 g/t Au from 22 m (NC014).
– 13 m at 1.89 g/t Au from surface, including 4 m at 2.56 g/t Au from 3 m (NC004).
– 4 m at 5.71 g/t Au from 40 m, including 3 m at 7.47 g/t Au from 41 m (NC015).
– 17 m at 1.34 g/t Au from 37 m, including 4 m at 3.77 g/t Au from 50 m (NC022).

Following this, Novo completed a subsequent RC drilling program consisting of 34 holes for a total of 3,942 meters. The goal was to extend known mineralization in the Main Area and to test regional targets, including the Estrid Fault, Aurora West, and a porphyry unit south of the Skadi Shear. This latest program has successfully extended known mineralization by 250 meters to a total of approximately 500 meters in strike length, with notable results including:

– 9 m at 2.52 g/t Au from 87 m, including 2 m at 8.89 g/t Au from 92 m (NC061).
– 2 m at 7.38 g/t Au from 42 m (NC051).
– 11 m at 1.26 g/t Au from 85 m, including 4 m at 2.31 g/t Au from 85 m (NC053).

Results from the current program are being re-analyzed using the PhotonAssay™ method to better resolve any coarse gold component, with assays pending.

Targeted Drilling at Estrid Fault and Porphyry Targets

Three holes drilled into the Estrid Fault target, defined by high-order soil anomalies and surface alteration, produced significant gold intercepts, including:

– 13 m at 2.68 g/t Au from 66 m, including 3 m at 10.41 g/t Au from 66 m (NC046).
– 11 m at 2.20 g/t Au from 84 m, including 1 m at 18.06 g/t Au from 86 m (NC046).
– 2 m at 6.30 g/t Au from 15 m (NC062).
– 17 m at 1.85 g/t Au from 25 m, including 7 m at 3.55 g/t Au from 25 m (NC063).

Additionally, three holes drilled into the porphyry target intersected a porphyritic rhyolite to rhyodacite with pyrite mineralization. The best result was 7 m at 0.1 g/t Au, with elevated copper levels. Despite these findings, the results do not warrant immediate follow-up in the target area, though they indicate the potential for further exploration in the district.

Egina JV and Balla Balla Gold Project Developments

De Grey Mining is advancing the first stage of its earn-in at the Egina JV, where it must spend a minimum of A$7 million by December 2024 to secure its interest. As part of this, De Grey has initiated follow-up aircore (AC) and RC drilling programs at the Becher Project, with approximately 28,000 meters of drilling planned. To date, 38 RC holes and 201 AC holes have been completed, with results anticipated in late Q3 2024.

Meanwhile, Novo has made progress at the Balla Balla Gold Project, where a Determination Wide Aboriginal Heritage Protection Agreement has been signed with the Kariyarra Aboriginal Corporation. This agreement, which includes customary compensation for the Kariyarra People, enables the grant of tenement application E47/4703, prospective for gold, base metals, and lithium. A cultural site avoidance heritage survey has already been completed, paving the way for AC drilling to commence once the tenement is granted.

Mapping and Sampling at Tabba Tabba Shear Corridor

Novo is also advancing exploration at the Tabba Tabba Shear Corridor, a mantle-tapping structure in the Southern Egina Gold Camp. The company has recently completed a re-interpretation of the corridor, identifying several conceptual targets for future exploration. Novo has begun mapping and surface sampling over these targets, with plans to collect approximately 1,200 surface soil samples.

Novo Resources continues to advance its exploration efforts across the Pilbara region, with a focus on expanding known mineralization and uncovering new prospects. The company’s strategic partnerships and joint ventures with De Grey Mining and SQM provide financial backing and expertise, enabling Novo to pursue its exploration objectives with greater flexibility. As assays and survey results from ongoing programs become available, further updates are expected in the coming months.