Novo Resources (ASX:NVO) has wrapped up drilling activities for the year and will resume exploration in January 2024 at its Egina Gold Camp and Balla Gold Project in Western Australia.
To date, the $68.38 million market capitalisation company and its joint venture (JV) partner, De Grey Mining (ASX:DEG), have completed over 10,500m of combined aircore (AC) and reverse circulation (RC) drilling at the Becher Project within Egina.
Final assays are anticipated to be returned in Q1 2024.
Meanwhile, at its Nunyerry North exploration target that sits within Egina, Novo has completed 2,424m of shallow RC drilling.
The drilling tested ‘high-grade’ surficial gold anomalism across a strike length of 500m and immediately defined several zones of mineralised quartz veining.
At Novo’s Balla Balla Gold Project, geophysical interpretation and research of historical data completed in 2023 have advanced the company’s understanding of the prospectivity in the project area and further delineated targets for follow-up work in 2024.
The project area is prospective for intrusion-related gold mineralisation in addition to structurally hosted gold.
Novo has also recently been granted tenement E47/4923, and overall discussions with Native Title partners are in progress, which could enable access for exploration programs in 2024.
Further, at the company’s Belltopper Gold Project in Victoria, 917.7m of diamond drilling has been completed as part of an initial 6-hole for 2,300m program.
Diamond drilling will continue in early January 2024, completing the remaining 4 holes planned.
Novo Resources is an explorer and developer that covers a 7,500km-square area in the Pilbara region of Western Australia, as well as 22km-square in Victoria.
Write to Aaliyah Rogan at Mining.com.au
Images: Novo Resources
