Michael Spreadborough

Nusantara Resources has kicked off a program of deep exploratory diamond drilling at the Puncak Selatan prospect, adjacent to its flagship Awak Mas gold resource on the island of Sulawesi in Indonesia. The work follows on from impressive surface trenching results and is aimed at expanding the optimised limits of the proposed Awak Mas open pit, potentially increasing the project’s mine life and economics.

Novo Resources continues to churn out record production numbers at its Nullagine gold operations in Western Australia’s Pilbara, posting a massive 46 per cent increase above the June result. Revenue also surged 50 per cent over the previous month with 8,589 ounces of gold pumped out from the mill generating $19.2 million revenue. During the month the company also appointed Michael Spreadborough as its new executive co-chairman.

Novo Resources Corporation has upped the ante at its Beatons Creek conglomerate gold project near Nullagine in WA’s Pilbara region, after a revised mining approach delivered an optimised five-year plan through to 2026. According to the company, the revised approach delivered a higher processing grade in November of 1.58 grams per tonne against an average grade for both October and November of 1.3 grams per tonne gold.

RC drilling at Novo Resources’ Milburn nickel-copper-gold target near Karratha in WA has returned a swag of anomalous copper hits including 3m at 0.59 per cent from 94m, inside of a broader 13m intercept grading 0.39 per cent from 92m. The operation is adjacent to Artemis Resources’ Carlow Castle project where earlier this year the company outlined a 14.3 million tonne inferred resource going 0.4 per cent for 53,000 tonnes of contained copper.

TSX-listed Novo Resources has gained a prominent new shareholder following a C$5 million strategic investment by private explorer Liatam Mining. The funding package will be principally used to vector in on battery metals across the company’s Quartz Hill tenements in the Nullagine district of Western Australia and will lean on Liatam’s experience in the sector.

Novo Resources continues to intercept significant gold mineralisation as it seeks to unearth the Pilbara’s next major gold deposit. Having identified multiple new targets at its Becher project, including a big priority area of mineralisation, Novo is extending its immediate drilling program. It says the project’s geological characteristics stack up against the mineralisation at De Grey Mining’s adjacent 10.6-million-ounce Mallina gold project.

TSX-listed Novo Resources is set to kick off a combined 8000m drill campaign across its key Pilbara prospects and its Belltopper project in Victoria following the company’s success at its Becher gold play. The exploration program will target Novo’s Nunyerry North, Balla Balla and Bamboo-Strattons projects in Western Australia’s Pilbara region, while it also has plans for a diamond drill campaign at Belltopper.

TSX-listed Novo Resources is aiming to join the ranks of ASX mineral explorers after lodging a prospectus with the Australian Securities and Investments Commission amid plans for an initial public offering. It has secured the support of giant neighbour De Grey Mining as a cornerstone investor and potential joint venture partner in a deal worth up to $35 million at its Becher project.

Flush with cash from an oversubscribed IPO and a $35 million deal with neighbouring mining giant De Grey Mining for its Becher project, Novo Resources Corporation has officially launched on the ASX. The successful IPO netted the company, which is also listed in Canada, $7.5 million before costs through the issue of 37.5 million common shares to Australian residents only.

A mining services company engaged in a deal with Novo Resources for 80 per cent of battery mineral rights at the Quartz Hill project has expanded the operation and increased the earn-in amount to $1.7 million. In line with the original arrangement, private company Liatam Mining has spent an extra $200,000 after choosing to increase its exploration ground from 615sq km to 818sq km.

Buoyed by encouraging early results from a maiden drill campaign at its Nunyerry North gold project in Western Australia’s Pilbara region, Novo Resources has expanded the program by another four holes. The company has received results from the first six reverse-circulation drill holes with highlights showing a 13m hit at 1.18 grams per tonne gold from surface and 7m going 1.12g/t gold from 38m.

Novo Resources has set its sights on its “highest-priority” targets as it prepares to launch a diamond drill campaign targeting high-grade gold at its Belltopper project within central Victoria’s historically-prolific Bendigo Tectonic Zone. The company has identified several new structural corridors and high-tenor IP chargeability anomalies to define six drill targets for a 2300m diamond drill campaign.

First-pass reverse-circulation drilling by Novo Resources at its Nunyerry North deposit in Western Australia’s Pilbara region – near De Grey Mining’s 11.5-million-ounce Hemi gold play – has turned-up drill hits of up to 7.42 grams per tonne gold. The company says results from the program included intersections of 11m at 1.98g/t gold and 4m at 4.15g/t, with follow-up testing plans already in place.

Novo Resources will join forces with SQM Australia after the latter agreed to pay $10 million for a 75 per cent interest in five of the former’s lithium-nickel tenements in Western Australia’s West Pilbara region. The two companies will create the “Harding Battery Metals” joint venture, with the deal also including an option over additional tenements held by Novo in the Pilbara.

Novo Resources is closing out its year with a flurry, revealing it has formed a new joint venture partnership with private company Liatam Mining for its Quartz Hill project in Western Australia’s East Pilbara region. Subject to TSX approval, Liatam has also agreed to invest $1.8 million for 9 million Novo shares at 20c each to increase its shareholding to about 6 per cent.

Novo Resources’ earn-in partner De Grey Mining has recorded significant gold hits from an ongoing air-core and reverse-circulation drill campaign at their shared Becher gold project in WA’s Pilbara region. De Grey has completed 10,500m of a 39,000m drill program at the operation, with initial assays returning positive results including an 8m intercept at 4.74g/t gold from 96m at the Lowe target.

Novo Resources has boosted its recent gold drilling results by re-assaying larger sample sizes from its WA Nunyerry North project, using modern high-tech multi-pot photon-assays, due to the nature of its coarse-gold. The improved results highlight several significant intersections, including 6m at more than 6 grams per tonne at the project it has in joint-venture with the Creasy Group.

Liatam Mining has today confirmed it will spend $6 million in a new hunt for lithium at the Quartz Hill joint venture project it shares with Novo Resources in WA’s Pilbara region. Exploration to date has extended the known hard rock lithium mineralisation at the JV’s Lepidolite Fields prospect, with sampling results reading as high as 2.71 per cent lithium oxide and 828ppm caesium oxide.

Novo Resources has jagged some solid gold numbers from a six-hole, 2529m diamond drilling program at its Belltopper project in Victoria, with a highlight hit of 2m going 15.18 grams per tonne gold from 185m. The intersection flagged a previously undiscovered gold-bearing reef, while 430m further south, a second hole shows 4.25m going 5.88g/t gold from 274.75m with 2m running 11.15g/t from 277m.

Novo Resources and its respective joint venture partners De Grey Mining and industry veteran Mark Creasy are firing up the rigs with multiple gold and base metal drilling programs in Western Australia’s Pilbara region. The partnerships will be plunging a combined 32,000m of drilling into the respective Becher and Nunyerry North targets in a bid to make another compelling Pilbara discovery.

Novo Resources has opened the gates to further exploration activities at its priority Bamboo and Miralga projects in Western Australia’s East Pilbara region after securing a key Aboriginal heritage agreement. The agreement with traditional landowners will facilitate the company’s exploration activities across some 1500 square kilometres of its East Pilbara titles and will include non-ground-disturbing surface work such as mapping and geochemistry.

Novo Resources has produced a suite of high-grade gold assays after an intensive reassessment of core from past drilling at its Belltopper project in Victoria – just 50km south of Agnico Eagle’s world-class Fosterville mine. The company says its re-assaying of 11 historic diamond drillholes has confirmed multiple mineralised intercepts across several priority target corridor zones prospective for gold and other “in-demand” minerals.

Novo Resources has unveiled the conceptual exploration target for its Belltopper gold project in Victoria of between 1.4 and 2.1 million tonnes containing between 320,000 and 570,000 ounces of gold. Belltopper lies in the highly-prospective Bendigo Tectonic Zone, about 52km south along strike from Bendigo and 15km south-east of Castlemaine – areas that have produced about 22.4 and 5.6 million ounces of gold, respectively.

De Grey Mining has invested $7 million to achieve its minimum first-stage spend at Novo Resources’ Egina gold project in Western Australia’s Pilbara region, with a further $18 million to be tipped in to create a joint venture operation. The earn-in is part of a required $25 million cash plunge within four years to create the 50:50 equal share at the site.

Novo Resources has bolstered its bank balance with the sale of its remaining 20 per cent interest in the Quartz Hill joint-venture project, along with the company’s gold and silver rights, for $850,000. Novo is now laser-focused on developing its prospective gold and base metal projects in Western Australia’s Pilbara region.

Novo Resources surged 60% to touch 14.5c in intraday trading after the market got a good look at the value of its shareholding in unlisted Canadian miner San Cristobal. Novo offloaded 38% of its holding in San Cristobal for $11.5m, valuing the remainder of its shareholding in the private company at $19m. Novo now has $16.7m in the bank.

Novo Resources is set to ramp up activities across its next set of key projects in the Pilbara in 2025, including a maiden antimony and gold drill campaign at two projects showing good early geological signs. The company is set to drill test the ground around an historic antimony and gold mine in WA’s Pilbara region that was mined at uber-high grades between 1907 and 1916.

Novo Resources has picked up a new gold and base metals exploration play in WA’s Pilbara region by locking up a 1520-square-kilometre land package near Onslow that is littered with evidence of historical mining. The two-part move involves pegging six new tenements together with securing an option on a 70 per cent interest in the nearby Cane River project held by a private company.

Novo Resources is pushing ahead on multiple exploration fronts across Australia ahead of drilling at its John Bull and Tibooburra gold projects in NSW, while ex-tropical cyclone Zelia throws a temporary spanner in the works with flooding at its Karratha and Balla Balla gold projects in WA. Drilling across all projects is slated for next quarter as the gold price continues to push all-time highs.