Toronto listed Novo Resources Corporation has set a high bar for itself this year after ticking off a flurry of 2021 exploration that saw the company further develop its gold, base-metals and battery-metals tenements across WA and Victoria. The company is now gearing up to run a 20,000m drilling blitz across a string of projects and capitalise on the booming precious metals and new energy markets.
Novo’s new year plan of attack will see the Vancouver-based group fast-track a series of near-mine exploration plays at its Nullagine gold project in the East Pilbara district of WA that will see it wrap up the 20,000-metre reverse circulation drill campaign by mid-year.
According to the company, previous RC drilling at the proximal Genie and Parnell-Vulture trends coughed up a slew of solid gold hits including 13 m grading 2.78 grams per tonne gold from 1m and 12m going 2.45 g/t gold from 6m. Some of the longer results include a 22m intersection running at 1.61 g/t gold from 8m.
Novo’s 2021 exploration also led to the discovery of a cluster of new orogenic gold/intrusion-related and conglomerate-hosted gold targets through a series of regional exploration work. The targets include the Golden Eye conglomerate gold and Becher, Becher Southeast and Irvine orogenic targets. The company says its earlier work also lifted the veil on a chain of targets that sit along strike from market star De Grey Mining’s revered Hemi gold discovery.
Meanwhile, in the West Pilbara region of WA, Novo unveiled a suite of gold-copper and nickel-copper-cobalt targets as part of a greenfield exploration play about a month ago. The company has since progressed its findings through a ground-based electromagnetic survey.
According to Novo, its battery-metals hunt across the Pilbara has been driven by a wave of strong historical hits adjacent to its landholdings. Not long ago the well-regarded Creasy Group sunk a nearby hole that intersected 7m at 2.62 per cent nickel and 0.65 per cent copper. ASX-listed Azure Minerals followed up the Creasy Group’s find with a 3.9m intercept grading 2.85 per cent nickel and 0.47 per cent copper from 94.5m in its maiden drill hole. Novo will now look to advance its battery metals interests and carve out its own slice of the new energy pie, with plans in place to run out a succession of large-scale sampling programs this year.
2021 also saw the company progress its East coast assets with a 2,000m campaign introduced to test a glut of targets at its 50 per cent owned Malmsbury gold project in Victoria. According to Novo, the project lays claim to over 1,500 historical gold workings. The company says earlier drilling at the project has coughed up significant mineralisation including a 4.1m intercept going 13.1g/t gold at the Leven Star trend.
With plenty of intriguing targets to follow up on this year, Novo could jump onto a few radars if its rolling exploration across the country leads to some high-grade hits analogous to previous results and with a portfolio that boasts both battery metals and gold the company has plenty to go after.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
