Novo Resources details gold resource for Leven Star reef

·       Novo Resources released its Leven Star technical report and updated corporate presentation.

·       The company share price traded unchanged at $0.056.

·       Management stated the update highlights disciplined greenfields exploration across its Australian portfolio.

Novo Resources (ASX:NVO) published a technical report detailing an inferred mineral resource of 87,000 ounces of gold for the Leven Star reef.

The new report follows prior exploratory drilling campaigns and provides formal backing for the project's economic extraction potential in Victoria.

“Our updated corporate presentation reflects the significant progress we've made across our exploration portfolio,” said Novo Executive Co-Chairman and acting CEO Michael Spreadborough.

The technical document outlines an estimated 760,000 tonnes of material grading 3.6 grammes per tonne, utilising a sub-level open stoping method over a projected five to ten year period.

The company stated that ongoing programmes will focus on testing high-priority targets to expand its regional resource base.

Following the announcement, the Novo Resources share price was unchanged at $0.056.

The company holds a land package spanning approximately 5,608km2 in Western Australia's Pilbara region alongside its Victorian assets.

Past corporate moves include establishing farm-in agreements in New South Wales and securing joint ventures to manage exploration expenditures across multiple commodities.