Novo Resources advances exploration with 2,700m drilling campaign
Pontos principais
- Novo Resources Corp announced a new 2,700-metre reverse circulation drilling programme at its Tibooburra Gold Project in New South Wales.
- The company reported a cash balance of $8.5 million alongside portfolio investments valued at $38.1 million as of Sept 30.
- The exploration drive aims to test high-priority targets following surface geochemical sampling and geological mapping completed in the third quarter.
Novo Resources Corp (ASX:NVO) has commenced a 2,700-metre reverse circulation drilling programme at the Tibooburra Gold Project to test key gold targets.
The upcoming exploration campaign follows surface geochemical sampling and geological mapping completed across regional streams and targeted soils during the third quarter.
The company stated that the planned drilling at the Clone prospect will focus on expanding known gold mineralisation zones.
Secondary exploration activities at the Wyloo Project in Western Australia also included infill soil sampling, with follow-up drilling planned for 2027 subject to heritage approvals.
Novo reported holding $8.5 million in cash along with $38.1 million in listed and unlisted investments at the end of the September quarter.
Following the announcement, the Novo Resources Corp share price was unchanged at $0.058.
The business continues to execute its strategy of exploring high-grade gold, copper, and antimony assets across Western Australia and New South Wales.
Recent corporate developments include the completion of target generation at Wyloo and the release of updated technical reports for its Victorian gold projects.
