Novo’s NSW Gold Exploration Faces Land Access Hurdles Despite Strong Assays

Exploration Breakthrough at Tibooburra

Novo Resources Corp has delivered a promising update from its New South Wales gold exploration portfolio, with particularly encouraging results emerging from the Tibooburra Gold Project. Recent reconnaissance rock chip sampling has identified exceptionally high-grade gold assays, including a peak of 39.9 grams per tonne (g/t) at the Pioneer North prospect and multiple samples exceeding 4 g/t at the newly highlighted Pioneer South target. These findings underscore the potential scale and richness of the mineralised system.

Geological Insights and Target Refinement

Complementing the surface sampling, Novo has undertaken detailed geological mapping, re-logging of historic diamond core, and down-hole televiewer surveys, particularly at the Clone prospect. These efforts have refined the understanding of the mineralisation controls, revealing shallow to moderate north-northwest plunging high-grade shoots as the primary target style. This structural interpretation aligns with mineralisation styles seen in major Victorian goldfields, although Novo prudently notes that similar results are not guaranteed.

Expanding the Footprint and Next Steps

In a strategic move to consolidate the gold trend, Novo has lodged an application for an additional exploration license covering approximately 350 square kilometres southwest of Tibooburra. This area includes multiple historic workings, potentially extending the known mineralised corridor. Meanwhile, drilling targets are being assessed at Pioneer South, Clone, and New Bendigo prospects, with pending assay results from recent sampling expected to further inform these plans.

Progress at John Bull Project

Beyond Tibooburra, Novo has secured all necessary regulatory approvals for reverse circulation drilling at its John Bull Gold Project near Grafton, NSW. While landholder access negotiations continue, the company is poised to commence a ~1,750-metre drill program targeting four high-priority zones, signaling a methodical approach to advancing this complementary asset.

Outlook

These exploration advances mark a significant step in Novo’s strategy to delineate gold projects with multi-million-ounce potential. The combination of high-grade surface results, refined geological models, and expanding tenure positions Novo well for upcoming drilling campaigns that could materially enhance the project’s resource profile.