Novo Delivers Significant Increase to Belltopper Exploration Target

Core Insights - The updated Exploration Target for the Belltopper Gold Project indicates significant growth in both tonnage and grade compared to the previous 2024 Exploration Target, driven by further geological interpretation and historical data analysis [7][10][11]. Exploration Target Overview - The 2026 Exploration Target includes a new reef and expanded strike and dip extents for four of the seven reefs documented in the 2024 Exploration Target [2][11]. - The updated tonnage range is estimated between 2.1 million tonnes (Mt) and 3.1 Mt, with a grade range of 6.7 grams per tonne (g/t) to 8.9 g/t Au [4][12]. Geological Context - The Belltopper Gold Project is situated in the Bendigo Tectonic Zone, known for its historical gold production exceeding 60 million ounces [5][11]. - The updated target incorporates the Western Domain Fault as a new reef and includes extensions on four priority reefs from the previous target [8][11]. Drilling and Future Plans - Planning for potential drilling in the second half of 2026 has commenced to enhance confidence in the Exploration Target [9][11]. - The company aims to test high-priority reefs both within and outside the current Exploration Target [10][11]. Historical Production and Mining - Historical mining in the area has produced approximately 90,000 ounces of gold at grades between 1-2 ounces per tonne [25]. - The reefs included in the updated target have varying degrees of historical mining and exploration development [28][67]. Additional Prospective Reefs - Several additional high-priority reefs have been identified for future exploration, which are currently outside the 2026 Exploration Target [67][68]. - Specific reefs such as the NW Fault 9 and Butchers Gully Fault have shown promising historical intersections and are considered for future drill testing [68].