Novo Resources, and billionaire “prospector” Mark Creasy have stretched the high-grade Main Lode zone of the Nunyerry North prospect to a 500m strike with solid hits including 13m at 2.68 grams per tonne (g/t) from 66m, 11m grading 2.20g/t from 84m and 17m running as 1.85g/t, as part of an ongoing exploration drilling at the Egina Gold Camp and Becher projects in Western Australia’s Pilbara region.
In 2023 the joint venture (JV) identified a 1.4km strike with a high-tenor gold anomalism along the Skadi and Freyda shear zones within Nunyerry North and completed a maiden 30-hole, 2424m program through 250m of strike. At that time the best hits were 6m running at 6.12g/t gold from 37m including a 5m section at 7.28g/t and 11m of 2.52g/t gold from 22m with a 6m zone of 4.19g/t.
Management views the strike extension from the new exploration work along the Estrid Fault as a highly promising result flowing from a recent 34-hole 3,942m reverse-circulation (RC) drilling campaign. The efforts form part of the company’s drive to unearth a significant intrusive granite gold discovery akin to De Grey Mining's massive 12.7m ounce Hemi gold deposit, 100km to the north-east.
In addition to the Nunyerry North findings, drilling at the Becher project, which is within Novo’s JV at the Egina Gold Camp with De Grey, is progressing well, with substantial exploration underway. De Grey has so far drilled almost 36,000m across the key targets of Heckmair, Lowe and Whillans, south-west of Hemi.
Further south, Novo has also started drilling on multiple high-priority targets along 60km of its tenements that sit within the Tabba Tabba Shear corridor.
Novo Resources executive co-chairman and acting chief executive officer Mike Spreadborough said: “The drilling results at Nunyerry North are very promising and we look forward to assessing the complete program and establishing the next set of work activities. Our Egina Joint Venture partner, De Grey Mining, continues targeted exploration programs across key prospects at the Becher Project. De Grey has completed approximately 36,000 m of combined aircore and RC drilling at Becher to end July 2024 and plans to continue to drill across the Heckmair, Lowe and Whillans targets over the coming months. Our Egina JV tenements are considered highly prospective for significant intrusion-related gold deposits and shares similar attributes to the nearby 12.7 Moz Hemi Gold Project.”
The company also revealed a new exploration initiative along 60km of the Tabba Tabba shear corridor, a region identified as highly prospective but as yet underexplored, due to challenging access conditions. Its recent work, supported by advanced geological and geophysical data, has pinpointed multiple high-priority targets.
Meanwhile, Novo has inked a determination-wide Aboriginal Heritage Protection agreement with the Kariyarra Aboriginal Corporation, securing a deal allowing it to now explore the previously inaccessible Balla Balla gold project and a 1,700-square kilometre area within the Egina Gold Camp JV.
Work on an aircore program will immediately start at Balla Balla aimed at testing priority orogenic and intrusion-related gold targets near the regional Sholl shear zone. At the same time, the company will also turn its attention to the Miragla prospect in the east Pilbara chasing copper-gold-silver-lead porphyry style and intrusion related targets after receiving Aboriginal clearance in July. Previously, four rock-chip samples collected during earlier field work from outcropping gossanous mineralisation registered grades topping more than 2000g/t silver.
Novo has got a few very busy months ahead of itself. As the wet season approaches towards the end of the year, the drill bits will be furiously working against time so that the company can get the remaining core samples back to the assay laboratory to deliver the eagerly awaited results.
With so much work on its plate, Novo is surely counting its blessings that it has partners with the quality of De Grey and Creasy by its side to help get the job done.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By James Pearson
