Welcome to our dedicated page for Novo Resources news (Ticker: NSRPF), a resource for investors and traders seeking the latest updates and insights on Novo Resources stock.
Novo Resources Corp. (NSRPF) generates frequent exploration and corporate news as it advances a portfolio of gold and polymetallic projects across Australia. Investors following Novo’s news flow can track updates from the Pilbara region of Western Australia, the Bendigo Tectonic Zone in Victoria and multiple high-grade gold projects in New South Wales.
Recent Pilbara news has highlighted high-grade gold and antimony results from prospects such as Sherlock Crossing and Southeast Wyloo, as well as strong rock-chip assays and mapping outcomes from the Teichman area in the Egina Gold Camp. Novo also reports on aircore drilling and multielement geochemistry at the Balla Balla Gold Project, where broad anomalous zones and alteration have been identified along the Sholl Shear Zone.
In New South Wales, Novo’s releases cover maiden and follow-up RC drilling at the Tibooburra Gold Project, including high-grade intercepts at the Clone prospect, and detailed mapping and sampling at the John Bull Gold Project that have extended gold-in-soil anomalies and defined multiple drill targets. These updates provide context on how the company is refining its understanding of orogenic and intrusion-related gold systems.
Corporate announcements include quarterly activity summaries, AGM results and updated investor presentations outlining strategic priorities, project pipelines and joint venture arrangements with partners such as Northern Star Resources, Manhattan Corporation, TechGen Metals and SQM. Readers who monitor this news page can follow assay results, drill program commencements and completions, farm-in milestones and broader portfolio developments as they are disclosed.
Novo Resources Corp. has begun Phase 2 mechanical sorter trials at the Nullagine Gold Project in Western Australia. The newly constructed Sorter will process 50 samples from various projects, including Comet Well and Purdy's Reward, with results pending. Key objectives include tuning the Sorter to geological regimes and establishing assay protocols. Phase 3 is set to commence in May 2022, pending regulatory approval, to relocate the Sorter for bulk testing. This initiative is expected to enhance operational efficiency and potentially advance commercial prospects in gold extraction.
Novo Resources Corp. has commenced a diamond drilling program exceeding 2,000 meters at the Malmsbury Gold Project in Victoria, targeting high-order gold mineralization near the Fosterville mine. In 2021, exploration identified multiple gold targets using advanced techniques such as mapping, soil sampling, and historic data compilation. Notable historic drill results include intersections of up to 13.1 g/t Au. The ongoing exploration supports a second phase of drilling and aims to further define potential gold resources. The project, under-explored and complex, has over 1,500 historic workings.
Novo Resources Corp. has completed a mining review of the Beatons Creek Gold Project, resulting in an optimized five-year plan through 2026. The revised approach has led to higher processing grades of 1.58 g/t Au from 117 kt processed in November 2021, yielding 5,498 ounces of gold. The plan involves a phased mining strategy, including continued mining of existing resources and transitioning to the higher-grade Beatons Creek Fresh resource. The company maintains a strong financial position with C$39.1 million in cash and a C$119 million investment portfolio, positioning it for effective execution of the new plan.
Novo Resources Corp. (OTCQX: NSRPF) is advancing its greenfields exploration program, focusing on Ni-Cu-Co targets near Azure Minerals and Artemis Resources in the Pilbara region. The 100%-owned exploration license EL47/1745 has identified several high-order soil geochemical anomalies related to previously defined VTEM conductors. Ground EM surveys are planned to further investigate these targets, aligning with Novo’s strategy to enhance its portfolio of gold and battery metals prospects.
Novo Resources Corp. (OTCQX: NSRPF) announced the launch of a 15,000 m reverse circulation drilling program at the Parnell-Vulture trend, part of its Nullagine gold project. The drilling began in early November 2021, aiming to explore oxide opportunities in a region with a rich history of gold mineralization. Historical drill results showed significant gold intercepts, including 12 m at 14.6 g/t. First assay results are expected by early December 2021, promising advancement in the company's exploration strategies.
Novo Resources Corp. (NSRPF) announced the commissioning of its Steinert KSS 100F LIXT fine mechanical sorting unit, which will be installed in Nullagine, Australia. Phase 2 mechanical sorting trials are set to begin in early December 2021 and will extend through Q2 2022. The trials aim to process bulk samples from Novo's Pilbara gold deposits, focusing on the Comet Well and Purdy’s Reward sites for potential commercialization. This project highlights Novo's innovative technology and commitment to advancing its mining operations.
Novo Resources Corp. (OTCQX: NSRPF) has resumed operations at its Golden Eagle processing facility after completing maintenance on its main crushing unit. The facility underwent about seven days of downtime, during which mining operations continued, resulting in a stockpile of approximately 370,000 tonnes. Additionally, the first phase of the tailings storage facility has been completed, providing an estimated 12 months of processing capacity, with the second phase anticipated to finish in early 2022.
Novo Resources Corp. (OTCQX: NSRPF) has pinpointed new exploration targets at the Egina project in the Pilbara region of Western Australia. Key highlights include the discovery of multiple untested aeromagnetic anomalies similar to those at De Grey Mining’s Hemi gold site, along with two significant Au-As-Sb soil anomalies. Historical drilling by another issuer intersected up to 4.38 g/t Au, although this data remains unverified by Novo. Upcoming exploration efforts for 2022 will focus on high-resolution aeromagnetics, soil sampling, and drilling to validate these promising targets.
Novo Resources Corp. (OTCQX: NSRPF) announced an unforeseen extension of maintenance at its Golden Eagle processing facility due to greater wear on the pitman/swing stock bearing housing than expected. This maintenance commenced on October 30 and is projected to conclude by November 5. While the mill is shut down, mining operations continue unaffected. The company plans to provide an update once the maintenance is complete.
Novo Resources Corp. (OTCQX: NSRPF) announced promising preliminary results from its maiden reverse circulation drilling program at the Genie prospect in Western Australia. Significant findings include 8 m at 4.6 g/t Au and 10 m at 3.0 g/t Au, among others, highlighting the prospect's potential for valuable oxide feed to the nearby Golden Eagle Plant. The mineralization remains open in all directions, with further drilling already underway to expand the discovery. The exploration team focuses on defining the extent of the new style of gold mineralization related to dolerite intrusion.