Cyclone delays won’t dampen Novo’s Aussie gold | Australian Markets

Novo Sources is pushing forward on a number of exploration fronts throughout Australia forward of drilling at its John Bull and Tibooburra gold initiatives in New South Wales, whereas ex-tropical cyclone Zelia throws a short-term spanner within the works with flooding on the company’s Karratha and Balla Balla gold initiatives in Western Australia.

Novo’s lately acquired high-grade gold initiatives in NSW are progressing to drill-ready standing. The company is finishing intensive mapping and sampling campaigns on the ground forward of a 2000-metre drilling program scheduled for subsequent quarter.

In WA’s Onslow District, in the meantime, Novo’s aggressive land grab is nearing the end line. The company expects mature exploration purposes for the 890-square-kilometre Cane River project will probably be granted within the subsequent quarter.

Novo is laser-focused on executing its exploration strategy. Assay outcomes from its NSW gold campaigns are due by mid-March, doubtlessly setting the stage for gold discoveries at its revived, traditionally high-grade initiatives.

Novo’s pivot in direction of high-grade, standalone gold initiatives has taken a main step ahead with vital groundwork accomplished at John Bull and Tibooburra, two prime targets in NSW’s rising gold districts.

An in depth area program over a 1.3km gold-in-soil anomaly at John Bull yielded 340 soil and 63 rock chip samples now awaiting assay. Early indicators recommend it’s an intrusion-related gold system. A number of intrusions have already been recognized, which is a constructive signal of a large-scale mineralised system.

At Tibooburra, Novo has zeroed in on the Clone prospect, beforehand operated by Manhattan Company, the place widespread historic workings recommend the presence of a large-scale gold system.

Clone has delivered some traditionally vital drill outcomes, together with shallow gold intercepts of 7m at 7.23 grams per tonne (g/t) gold from 81m, 6m grading 4.22g/t gold from 66m and 9m at 6.03 g/t gold beginning at 16m depth.

Practically 1000 soil and rock chip samples have been collected over 2.8km on the prospect and mapping has revealed a number of shear zones wealthy in sericite alteration and sulphide mineralisation.

With each initiatives displaying exceptional gold prospectivity, Novo is losing no time in testing its latest project with the drill bit. It has locked in 2000m of drilling on precedence targets, slated for April.

These initiatives are key priorities for Novo and the workforce are eagerly awaiting the outcomes from geological and geochemical sampling campaigns, anticipated in mid-March 2025, which is able to permit us to successfully decide targets for drilling.

Novo’s WA project growth stays heading in the right direction, regardless of ex-tropical cyclone Zelia disrupting deliberate drill packages throughout its Egina three way partnership, Balla Balla gold project and Karratha District tenements, that are all within the Pilbara.

Heavy rainfall and wind injury pushed back the company’s Pilbara drilling timelines, however with situations bettering, Novo says it’s working to reschedule its packages for subsequent quarter.

The company lately scooped up ground within the Onslow District at Cane River. Following approvals, the project will mix with its 1524-square-kilometre Toolunga project to present Novo a dominant footprint within the underexplored area.

With assay outcomes anticipated in mid-March, Novo is poised for a busy quarter forward. The company’s concentrate on high-grade gold initiatives and aggressive drilling campaigns has set it an thrilling begin, notably given 2025’s red-hot gold market.

Novo says it stays well-funded for its exploration push after offloading 38 per cent of unlisted Canadian miner San Cristobal final 12 months for $11.5 million. Because the gold price continues its relentless climb, Novo is gearing up for what could possibly be a busy 2025.

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