Becher | Jotup

Successful RC Drill Program Completed at Nunyerry North

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Tuesday, November 14, 2023

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VANCOUVER, British Columbia, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (ASX: NVO) (TSX: NVO & NVO.WT.A) (OTCQX: NSRPF) is pleased to announce continued drilling success at the Egina Gold Camp in the Pilbara, Western Australia, with significant results returned from final gold in photonAssayTM in the Company’s maiden reverse circulation (RC) drill program at Nunyerry North (Figures 1 and 2). The Nunyerry North project is a 70:30 joint venture with the Creasy Group.1

Key Points:

30 holes for 2,424 m of shallow reverse circulation drilling completed at Nunyerry North in maiden drill program.
De Grey recently completed 192 infill aircore drill holes (5,251 m) at Becher as part of an initial 39,000 m drill program.
Novo recently completed its maiden drill program of 30 holes for 2,424 m of shallow RC drilling at Nunyerry North with positive results for the program.
It is important to understand that this maiden drill program only tests a small area of the overall Nunyerry North prospect.

Gold Mineralisation Intersected in Maiden Drill Program at Nunyerry North

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Monday, October 16, 2023

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“Nunyerry North is an exciting exploration target for Novo and we have only started to understand the potential extent of the gold mineralised system.

Key Points:

“Nunyerry North is an exciting exploration target for Novo and we have only started to understand the potential extent of the gold mineralised system.
“In addition to Nunyerry North, it is great to see De Grey commence their exploration program at the Becher Project, which is part of our Egina JV.
“We will also commence a 2,200 m diamond drill program at our exciting Belltopper Gold project in Victoria in early November.
Photos accompanying this announcement are available at:
Novo commenced its maiden RC drill program of approximately 2,000 m at Nunyerry North on 12 September 2023 and to date, 24 holes for 2,028 m (average depth of 84.5 m) have been completed.

Maiden Drill Program Commences at Nunyerry North

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Tuesday, September 12, 2023

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VANCOUVER, British Columbia, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (TSX: NVO & NVO.WT.A) (ASX: NVO) (OTCQX: NSRPF) is pleased to announce the Company has commenced its maiden drill program at Nunyerry North located in the Egina Gold Camp in the Pilbara, Western Australia (Figure 2), with ~ 2,000 m of reverse circulation (RC) planned. The Nunyerry North project is a 70:30 joint venture with the Creasy Group.4

Key Points:

VANCOUVER, British Columbia, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (TSX: NVO & NVO.WT.A) (ASX: NVO) (OTCQX: NSRPF) is pleased to announce the Company has commenced its maiden drill program at Nunyerry North located in the Egina Gold Camp in the Pilbara, Western Australia (Figure 2), with ~ 2,000 m of reverse circulation (RC) planned.
Nunyerry North is a compelling, high priority exploration target with significant prospectivity, located in the southern part of the Egina Gold Camp.
Situated just 36 km from a major regional road, Nunyerry North also offers excellent long-term logistics.
Novo has initiated its maiden RC drill program of approximately 2,000 m at Nunyerry North, expected to be completed in the coming weeks.8
Mapping and rock chip sampling in the area identified sheeted quartz vein-related gold mineralisation within a basement sequence of ultramafic komatiites and mafic rocks, juxtaposed by regional shears and offset faults.

Novo Dual Lists On ASX Following Oversubscribed A$7.5M IPO

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Monday, September 11, 2023

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VANCOUVER, British Columbia, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo” or the “Company) (ASX: NVO, TSX: NVO, & NVO.WT.A) (OTCQX: NSRPF) is pleased to announce the Company has successfully listed on the ASX, with trading in Novo’s securities having commenced on Monday, 11 September 2023 under the ticker ‘NVO’.

Key Points:

Novo admitted to ASX under the ticker ‘NVO’ listing 37.5 million CDIs following successful completion of dual ASX:TSX listing.
Novo's IPO was oversubscribed raising the maximum of A$7.5 million at A$0.20 per CDI, with strong support from local institutional and sophisticated investors.
ASX listing opens up a more ready accessible Australian capital base to Novo, with greater access to liquidity and increased exposure to Australian institutional investors.
Following the IPO capital raising, Novo has 342 million shares on issue (37.5 million of which currently take the form of CDIs on the ASX and with 304.5 million being shares on the TSX).

Novo’s ASX IPO Offer Oversubscribed; Offer Period Closed Early

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Wednesday, August 23, 2023

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VANCOUVER, British Columbia, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to advise it has now closed the offer period for its IPO offer of CDIs ahead of schedule, having received subscriptions totalling A$7.5 million. This means the full over-subscription limit has been reached following overwhelming support, with significant demand coming from sophisticated and institutional investors across Australia.

Key Points:

With the offer fully subscribed, Novo has closed the offer period ahead of schedule.
VANCOUVER, British Columbia, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to advise it has now closed the offer period for its IPO offer of CDIs ahead of schedule, having received subscriptions totalling A$7.5 million.
Given the level of subscriptions received, and the early offer close, Novo is in discussions with ASX as to whether it can bring forward the date of its listing on ASX.
Novo’s offer remains subject to ASX approving the Company’s application for admission (which process is ongoing and cannot be guaranteed).

Novo Outlines H2 2023 Exploration Plan

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Monday, August 14, 2023

VANCOUVER, British Columbia, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to provide an update on exploration programs scheduled for the remainder of 2023 across its extensive tenement portfolio in the Pilbara, Western Australia and Belltopper in Victoria.

Key Points:

At Belltopper in Victoria, 2,000 m of diamond drilling will test high priority targets developed from 3D modelling of integrated datasets and is scheduled for late H2, 2023.
VANCOUVER, British Columbia, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to provide an update on exploration programs scheduled for the remainder of 2023 across its extensive tenement portfolio in the Pilbara, Western Australia and Belltopper in Victoria.
Heritage approvals have been finalised for Novo’s ~ 2,000 m of RC drilling scheduled to proceed in H2 2023.
Novo exploration in 2023 has focussed on integrating all regional to target-scale data sets to develop a 3D geological and mineralisation model (Figure 6 and Figure 7).

Novo Progresses ASX Dual Listing With Lodgement of Prospectus

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Wednesday, August 2, 2023

VANCOUVER, British Columbia, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to provide an update in relation to the Company’s planned ASX listing and IPO.

Key Points:

Novo Executive Co-Chairman and Acting CEO Mike Spreadborough said a TSX/ASX dual listing is a logical progression for the Company due to historical investor appetite for exploration companies with Australian projects and will provide an excellent platform for the next phase of exploration.
“We are very excited to be taking the next step in our strategic growth plans and make the move to seek a dual listing on the ASX.
Novo is engaged primarily in the business of evaluating, acquiring, and exploring natural resource properties with a focus on gold.
The Offering is conditional on Novo raising its minimum subscription (A$4.0 million, before costs) and ASX approving the Company’s application for admission to the official list of the ASX5.

De Grey to Invest A$25 Million to Earn 50% in Egina JV and Complete A$10 Million Cornerstone Investment

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Wednesday, June 21, 2023

km, through an earn-in and joint venture (“Egina JV”) under a binding Heads of Agreement (the “Agreement”).

Key Points:

km, through an earn-in and joint venture (“Egina JV”) under a binding Heads of Agreement (the “Agreement”).
De Grey will manage all exploration under the earn-in and become the manager of the Egina JV once established.
The cornerstone private placement to De Grey will be completed at Novo's current spot price of C$0.255 per common share.
This transaction with De Grey will result in Novo having an unaudited consolidated cash position of approximately C$29.8 million / A$33.0 million.

Becher Drilling Continues to Intercept Significant Gold Mineralisation

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Monday, June 12, 2023

VANCOUVER, British Columbia, June 12, 2023 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to report new and significant results and that it will continue the aircore (“AC”) drilling program at Becher. Results referred to in this news release are not necessarily representative of mineralisation throughout the Egina Gold Camp.

Key Points:

Novo has completed over 50,000 m of AC drilling to date at Becher with significant gold and multi-element assay results generated, defining a large priority area of mineralisation across some 5 sq km.
Both geological setting and pathfinder multielement assays compare favourably to the adjacent Mallina Gold Project mineralisation, with planning for deeper drilling underway.
Recent drilling, focused on gold anomalies previously identified in the Irvine Shear corridor in proximity to the Heckmair intrusion, continues to identify intercepts across a significant strike length.
Figure 2 - Becher Project with main prospects, AC drilling progress to date and planned AC drilling over interpreted geology is available at

Novo Resources: Further Standout Becher Gold Results Highlight Encouraging Growth Potential

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Tuesday, May 23, 2023

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VANCOUVER, British Columbia, May 23, 2023 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to report continued outstanding results from the 2023 AC drilling program at Becher. Results referred to in this news release are not necessarily representative of mineralisation throughout the Egina Gold Camp.

Key Points:

Becher is located in the northern section of the Egina Gold Camp 28 km along trend from De Grey Mining Limited’s 10.6 Moz Au (JORC 2012)1 Mallina Gold Project.
Commenting on the drill program, Novo Executive Co-Chairman and Acting CEO Mike Spreadborough said, “We are very excited by further standout assay results from our Becher Project, which is located in the Egina Gold Camp.
Novo has discovered a large broad area of gold anomalism with recent drilling now confirming gold mineralisation extending into the underlying intrusions and sandstone rock units adjacent to De Grey’s Mallina Gold Project.
Results referred to in this news release are not necessarily representative of mineralisation throughout the Egina Gold Camp.