Novo Resources (ASX:NVO) has begun a maiden drilling program at its Nunyerry North prospect within the Egina Gold Camp in the Pilbara region of Western Australia.
The $82.06 million market capitalisation company says the program will comprise 2,000m of reverse circulation (RC) drilling that will focus on investigating structurally controlled gold targets and extensive gold-in-soil anomalies.
Previous exploration conducted at Nunyerry delineated a more-than-1.4km strike length of high-tenor surface gold anomaly with ‘bonanza-grade’ gold assays from quartz veins in rock chip samples.
Novo’s partner, De Grey Mining (ASX:DEG), is planning 39,000m of aircore, RC, and diamond drilling to begin at the Becher Project within the Edgina joint venture area this month.
Drilling activities are also scheduled to begin in Q4 2023 at the Bamboo-Strattons and Balla Balla Gold projects in the Pilbara region of Western Australia, alongside the Belltopper Gold Project in Victoria.
The Nunyerry North prospect is a ‘high-priority’ exploration target with ‘significant’ prospectivity, located in the southern part of the Egina Gold Camp.
Egina is home to Novo’s most ‘prospective’ targets and is an 80km contiguous tenement package.
Novo Resources is a Western Australian explorer and developer with a land package covering 10,500km-square in the Pilbara region.
Novo Resources earlier this month completed an Initial Public Offering (IPO), raising $7.5 million, to dual-list on the ASX and TSX.
Write to Aaliyah Rogan at Mining.com.au
Images: Novo Resources
