Novo Resources to Focus on Pilbara Gold-Antimony Prospects in H2, Shares Fall 4%

MT Newswires Live
9 hours ago

Novo Resources (ASX:NVO) said it has advanced Pilbara high-grade gold and gold-antimony prospects, which will be its focus for exploration and drilling in the second half of the year, according to a Friday Australian bourse filing.

The company said exploration at its Sherlock Crossing gold-antimony prospect in Western Australia has defined a coherent 1.5-kilometer antimony in soil anomaly at above 15 parts per million (ppm) antimony, with gold anomalism up to 85 parts per billion.

All heritage and compliance approvals are now in place for exploration drilling at the prospect, the filing added.

The company said plans are in place to complete mapping and rock chip sampling in preparation for drill program planning at its Southeast Wyloo gold antimony silver copper project.

The company said it has obtained heritage access approval for low-impact exploration work at the Teichman gold prospect in the northern Egina Gold Camp in Western Australia, within the Yandeyarra Reserve, where high-grade gold has been defined during historic rock sampling programs in the area.

Results from reconnaissance aircore drilling at Balla Balla project in Western Australia have shown broad zones of low-level gold anomalism peaking at 0.114ppm gold along the Sholl Shear zone, where significant results from multielement assays of bottom hole samples and select drill holes include 96.8ppm silver, 182ppm antimony, 353ppm copper, and 71.6ppm bismuth.

The company's new partner in the Egina farm-in joint venture arrangement, Northern Star Resources Limited (ASX:NST), following its acquisition of De Grey Mining, has commenced reviewing previous data in planning for future exploration programs.

The company's shares fell 4% in recent Friday trade.

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