Core Insights - Novo Resources Corp. has reported significant advancements in its gold exploration and development portfolio across Australia, with a focus on high-grade gold projects and a strong pipeline of upcoming drilling activities [1][2][5] Exploration and Development Activities - The company has completed its maiden RC drill program at the Clone prospect within the Tibooburra Gold Project, yielding high-grade gold intercepts such as 12 m at 5.90 g/t Au and 17 m at 2.40 g/t Au [5][19][23] - At the John Bull Gold Project, four Key Target Areas for drilling have been identified, with soil anomalies extending over 1.5 km and peak results of 1.59 g/t Au from soil sampling [8][9][10] - Exploration at the Sherlock Crossing Au-Sb prospect has defined a coherent 1.5 km antimony soil anomaly, with peak results of 85 ppb Au and 48.3 ppm Sb [37][38] Financial Position - As of June 30, 2025, the company reported a cash balance of A$7 million (C$6 million) and investments valued at approximately A$34 million (C$30 million) [57][58] Future Plans - Novo has planned a ~1,750 m RC drill program at John Bull in H2 2025, contingent on drill rig availability [24] - Follow-up drilling at the Clone prospect is also planned to test the northern extension of the high-grade shoot defined in recent drilling [25] - Further exploration activities are set for the Balla Balla Gold Project and the Southeast Wyloo Au-Sb-Ag-Cu Project, with RC drilling planned for H2 2025 [28][48]
Highlights – June Quarter 2025