Novo field work extends high-grade mineralisation at NSW gold project

Novo Resources’ recent field exploration activity at its farm-in John Bull gold project in New South Wales has provided a host of new exploration targets, which the company plans to drill in June.   

The company has extended its known 100 parts per billion soil gold anomaly to more than 1.5 kilometres of strike with a peak result of 1.59 grams per tonne (g/t) gold, while sampling of quartz veins has nailed grades of 67.9g/t and 29g/t gold.

Sheeted quartz veins are associated with significant northwest and northeast-trending structural zones, which coincide with historic mining locations, and the high-grade rock chip results which, in combination, point to the project’s high-grade mineralisation potential.

Novo’s recent field campaign included detailed outcrop mapping, rock chip sampling and infill and step-out soil sampling to characterise geology.

It also identified new targets and investigated known prospects for possible depth or strike extensions and for zones of higher-grade mineralisation.

New targets have been identified from high level soil geochemical responses and the areas of sheeted quartz veining within favourable or preferred rock types, in combination with distinctive alteration and brecciation (intense fracturing) of host rocks.  

These associations were identified with an induced polarisation geophysical anomaly coincident with a major linear structure. Novo thinks the combination of favourable factors, including geochemistry, supports its interpretation of an intrusion-related gold system. 

Geochemical associations and elemental zoning indicate a nearby tin-bismuth-arsenic core and a nearby porphyry-style intrusive, which was mapped in the project southwest.

Flanking gold-molybdenum-copper-antimony-tellurium zones, surrounded by a halo of sheeted veining with a gold-arsenic-antimony-tungsten association, also support the interpreted mineralisation style.

Best results from Novo’s multi-element sampling include 0.49 per cent tungsten, 780 parts per million (ppm)  tin, 5.6ppm molybdenum and 14.9ppm bismuth. 

Novo says multiple new targets warrant drilling. The company plans to kick off an initial 1500-metre reverse circulation drilling program to test four key targets at the project in June, subject to rig availability and receipt of all compliance approvals.

Four key targets are slated for testing within the greater John Bull location, including the 100m-long northeast-trending John Bull breccia zone, which yielded the 67.9g/t gold hit and three other samples that graded better than 5g/t gold.   

The John Bull shear comprises a second target where mapping revealed strong alteration along a broad northwest-trending shear zone, accompanied by rock chip sample results of up to 29g/t gold. 

Two other target areas at the historic sluicing area at John Bull South feature densely sheeted quartz veins. The area also includes high-grade soil sample results up to 4.77g/t gold, which are spatially associated with a monzo-diorite intrusion. 

Novo’s other priority targets will include three newly developed and untested locations along about 1km of strike, which were identified during the recent mapping and surface sampling program.

At Novo’s Hill Creek West target, an IP geophysical anomaly coincident with geochemical anomalism to a peak value of 2.1g/t gold and a regional north-west trending fault represents a priority target.

It has another priority area at Diggers North, where best soil results include 10g/t gold. Soil anomalism at Diggers North follows a major northwest-trending fault within the broader north-south mineralised corridor. 

Novo Resources Executive Co-Chairman and Acting CEO Mike Spreadborough said: “The recent exploration mapping and sampling campaign at John Bull has provided some exceptional drill targets, which we are excited to test through a ~1,500 m RC program in June. Sourcing drilling contractors is underway and governmental approvals for the drilling campaign are eagerly awaited.” 

Novo has a farm-in arrangement with ASX-listed explorer TechGen Metals Limited. The agreement grants Novo an option to acquire an 80 per cent interest in the nearby Mick’s Bull tenement and a 70 per cent interest in the John Bull tenement, following two tranches of exploration work and pre-determined expenditure. 

The John Bull ground comprises an advanced exploration opportunity about 49km west/northwest of Grafton, in NSW’s  New England district. The tenure consists of two tenements enclosing about 32 square kilometres.

The area features several shafts and extensive areas of hydraulic sluicing for gold.  TechGen’s soil sampling highlighted an exceptionally high-order gold anomaly more than 900m long and 250m wide at better than 100ppb gold, with seven samples reporting more than 4.5g/t gold.

TechGen also completed 17 reverse circulation holes for 2249.5m in 2022 and 2023, with an effective test to about 120m vertical depth.

Best results from the work include 94m at 0.95g/t gold from 4m, including 66m at 1.14 g/t gold, and 17m at 1.08g/t gold from 109m.  A second hole gave up 68m going 1g/t gold from surface, including 23m at 2.02g/t gold.

Future work at the project will include follow-up drilling, subject to the results from phase one infill and extensional drill testing, with diamond drilling to depth on selected holes. 

The work will focus on porphyry-related targets to the west and southwest of the John Bull sheeted vein arrays, with possible geophysical surveys and selected drill testing.

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