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10:59:12 EDT Sat 12 Jul 2025
Enter Symbol
or Name
USA
CA



NOVO RESOURCES CORP. J
Symbol NVO
Shares Issued 354,630,279
Close 2025-03-31 C$ 0.10
Market Cap C$ 35,463,028
Recent Sedar Documents

ORIGINAL: Promising Surface Exploration Informs Tibooburra RC Drilling Program

2025-04-01 10:03 ET - News Release

HIGHLIGHTS

  • Recent exploration by Novo at the Clone prospect included detailed structural, lithological and regolith mapping, pXRF and < 80# mesh soil sampling, and rock chip sampling.
  • Novo rock chip sampling returned peak results of 89.6 g/t Au and 41.9 g/t Au from mullock dump samples associated with historical workings, and 31.4 g/t Auand 10.4 g/t Au from quartz vein outcrop over 700 m of strike, supporting previous high grade drill results.
  • Soil sampling defined a ~ 600 m long and up to 250 m wide coherent anomaly > 30 ppb Au, with peak results of 1,585 ppb Au and 1,440 ppb Au.
  • Mapping defined a west dipping thrust (Clone Thrust) associated with high grade gold mineralisation and significant sericite-carbonate alteration.
  • A ~2,000 m targeted RC drill program is planned to commence in April 2025 to test this high-grade gold mineralised trend.
  • RC drilling at Clone completed by Manhattan Corporation Limited (ASX: MHC) in 2023, highlighted potential for shallow dipping high-grade gold mineralisation, with excellent drill results returned from 11 holes including1:
    • 7 m at 7.23 g/t Au from 81 m, including 3 m at 16.1 g/t Au (CL0007)
    • 9 m at 6.03 g/t Au from 16 m (CL0010)
    • 6 m at 4.22 g/t Au from 66 m, including 2 m at 11.65 g/t Au (CL0004)
    • 31 m at 1.29 g/t Au from 60 m, including 3 m at 6.52 g/t Au (CL0002)
  • The Manhattan RC program tested some 250 m strike of an interpreted trend > 700 m to a maximum depth below surface of 75 m.
  • The Clone prospect is underexplored with mineralisation open in all directions and trending under cover to the south.
  • The southern cover sediments extend for up to 15 km over the prospective target basement corridor and provide opportunities to explore for potential ‘blind discoveries’.

Mike Spreadborough, Executive Co-Chairman and Acting Chief Executive Officer, said: “We look forward to commencing our RC drill program at the Clone prospect, which forms part of our Tibooburra Gold Project, located in northwestern NSW.

“Tibooburra is a standout exploration opportunity due to previous high-grade drilling results and compelling exploration upside. We aim to start drilling this month and the program we have developed will test several priority gold targets which were identified through our recently completed three-week reconnaissance program. The remainder of 2025 is set to be a busy year exploration-wise for Novo and we are focused on executing on our strategy and delivering significant value to our shareholders.”

PERTH, Australia, April 01, 2025 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (ASX: NVO) (TSX: NVO) (OTCQB: NSRPF) is pleased to announce that an RC program at the Tibooburra Gold Project (Tibooburra) (Figure 1), located in northwestern NSW is planned to commence in April 2025. The drill program will focus on the Clone prospect (Figures 2 and 3) over a strike of several hundred metres and is designed to test high-grade gold targets recently confirmed during a successful three-week field campaign of mapping and surface sampling.

Location of the Tibooburra Gold Project, in northwestern NSW.

Figure 1: Location of the Tibooburra Gold Project, in northwestern NSW.

Drone footage of mapping activities at the Clone prospect

Figure 2: Drone footage of mapping activities at the Clone prospect

Tibooburra project tenure, with regional geology, drill collars, main prospects, highlighting multiple parallel mineralised trends.

Figure 3: Tibooburra project tenure, with regional geology, drill collars, main prospects, highlighting multiple parallel mineralised trends.

Tibooburra is an advanced exploration opportunity which covers much of the historic Albert Goldfield (Figure 1). Tenure includes six granted exploration licences over 630 sq km.

The agreement with Manhattan Corporation Limited (ASX: MHC) (Manhattan)2 grants Novo an option to acquire a 70% interest in the tenements comprising this tenure, subject to (among other things) Novo meeting two minimum expenditure requirements over two 12 month periods. Refer to Novo’s 13 December 2024 news release titled “Novo strengthens portfolio with two High-Grade gold projects in NSW, Australia” for the detailed terms of the agreement with Manhattan.

Geological mapping and surface sampling of the Clone trend defined several targets that warrant drill testing or further surface geochemical sampling and review. Results from minus 80# mesh soil sampling confirmed Au anomalism associated with the Clone Thrust and splay structures, with rock chip sampling confirming high-grade gold mineralisation within the main zone of workings.

An initial Novo RC drill program of ~ 2,000 m is planned to commence in April 2025 and will target the main zone of historical workings at Clone over ~700 m of strike.

Overview

The Albert Goldfields lies on a unique district-scale bend at the boundary of the Thomson and Delamarian orogens, with stratigraphy wrapping around the Tibooburra granite intrusive complex to the northeast.

Over 200 historic workings on multiple lines, delineating over 34 km of interpreted mineralised trends have been identified at Tibooburra. Several targets were highlighted by Manhattan including New Bendigo, Clone, Pioneer, Elizabeth Reef and Good Friday (Figure 3). However, outside of the New Bendigo prospect, little systematic modern exploration has been conducted. The area is significantly under-explored, and satellite imagery and interpretation show untested cover sequences, particularly in the south. At Clone, extensive historical workings manifest over ~450 m strike and 20 m to 40 m in depth.

RC drilling by Manhattan in 2023 highlighted potential for shallow dipping high-grade gold mineralisation. Excellent drill results were returned in fresh rock from an initial 11-hole RC drill program testing 250 m strike to a maximum depth below surface of 75 m, including2:

  • 7 m at 7.23 g/t Au from 81 m, including 3 m at 16.1 g/t Au (CL0007)
  • 9 m at 6.03 g/t Au from 16 m (CL0010)
  • 6 m at 4.22 g/t Au from 66 m, including 2 m at 11.65 g/t Au (CL0004)
  • 31 m at 1.29 g/t Au from 60 m, including 3 m at 6.52 g/t Au (CL0002)

This mineralisation remains open in all directions, with targeted mineralised basement trending under cover sediments to the south. The cover sediments extend for some 15 km providing opportunities for exploration targeting potential ‘blind discoveries’.

Novo has not conducted data verification (as that term is defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects and JORC 2012) in respect of the above data from New Bendigo and Clone and therefore is not to be regarded as reporting, adopting or endorsing those results/figures. No assurance can be given that Novo will achieve similar results.

Recent Soil and Rock Chip Sample Results

A three-week field campaign comprising geochemical surface sampling and detailed mapping of the main ~ 3 km strike at the Clone prospect was completed in February 2025, with all assay results returned. The field programs were devised to investigate controls on gold mineralisation and allowed Novo to design a follow up RC drilling program to validate previous drill results. Novo is anticipating that this program may significantly extend known mineralisation along strike, down dip and down-plunge.

Results from all aspects of the exploration work proved extremely promising, supporting the decision to commit to ~2,000 m of RC drilling at Clone in April 2025.

Mapping identified a package of folded and sheared deep marine meta-sediments ranging from siltstone (shale and slate) to phyllite with limited variation in grain size. Metamorphism of the host rocks is greenschist facies. Structure in the mapping area is dominated by complex folding (possibly multi-phase) including interpreted isoclinal folding in the immediate Clone area, overprinted by a strong NW trending regional foliation.

Mineralised late-stage NNW to NW trending moderately southwest dipping shears (interpreted as reverse faults) have been the focus for much of the historical workings. Generally, the best mineralisation occurs where these structures bend in a more northerly direction (Figure 4), producing 1 m to 10 m wide shear zones. The main shear, the Clone Thrust, is traceable over 3 km strike and trends under cover to the NW and SE. Several splay structures are also present and are potentially part of the fertile architecture of the belt (Figure 4 and Figure 5). NNE trending cross-cutting faults are common, with interpreted sinistral movement on the main shear zones. Mineralised veining includes west dipping late-stage quartz veins which vary between laminated, massive, brecciated and sheared, and contain rare sulphide and green sericite.

Structural mapping and thematically mapped minus 80# mesh soil samples over the ~ 3 km Clone Trend

Figure 4: Structural mapping and thematically mapped minus 80# mesh soil samples over the ~ 3 km Clone Trend

Alteration, especially in these mineralised shears, is dominated by intense sericite and minor sulphides (pyrite and arsenopyrite). Green sericite is present on quartz vein selvedges in almost all historic workings. A broad strong zone of alteration is present between the Clone Thrust and the Western Splay adjacent to the main Clone target.

Conventional minus 80# mesh soil sampling on a nominal grid of 20 m x 40 m over areas of historical workings, extending to 20 m x 80 m to the north and south, has defined a 600 m long coherent > 30 ppb Au anomaly with peak results of 1,585 ppb Au and 1,440 ppb Au over the main target area. See Appendix 1 for significant soil sample results.

Rock chip sampling (Figure 5 and Figure 6) yielded peak results of 89.6 g/t Au and 41.9 g/t Au from mullock dump samples at the northern end of the main Clone workings. The samples comprised sheared phyllite with multiple centimetre scale quartz veinlets and minor boxwork after sulphides. In the southern part of the main workings, peak results include 31.4 g/t Au and 10.4 g/t Au from within the west dipping Clone Thrust (Figure 7). Several samples collected in the main area graded > 3 g/t Au. See Appendix 2 for all rock sample results.

Soil sampling anomaly and rock chip sampling across the main Clone Prospect

Figure 5: Soil sampling anomaly and rock chip sampling across the main Clone Prospect

High-grade gold assay results may highlight the potential for a coarse component of gold in the mineralised system at Clone, leading to difficulties in obtaining accurate rock chip results. A program of 20-30 samples grading > 0.1 g/t Au will be re-assayed via screen-fire assay to assess the coarse gold deportment and better inform assays of drill samples.

Detailed map showing Manhattan RC drill collars, in addition to results from recent Novo rock chip and mullock dump sampling at Clone; results may not be indicative of mineralisation in the district

Figure 6: Detailed map showing Manhattan RC drill collars, in addition to results from recent Novo rock chip and mullock dump sampling at Clone; results may not be indicative of mineralisation in the district

Rock chip sample results from an exposure of the west dipping Clone Thrust, highlighting a significant high-grade zone of mineralisation over approx. 8 m width with a peak result of 31.4 g/t Au from the western-most quartz vein; results may not be indicative of mineralisation in the district

Figure 7: Rock chip sample results from an exposure of the west dipping Clone Thrust, highlighting a significant high-grade zone of mineralisation over approx. 8 m width with a peak result of 31.4 g/t Au from the western-most quartz vein; results may not be indicative of mineralisation in the district

Planned RC Drill Program

Geological mapping and surface sampling of the Clone trend defined several targets that warrant drill testing or further surface geochemical sampling and review.

Results from minus 80# mesh soil sampling confirmed Au anomalism associated with the Clone Thrust and splay structures, with rock chip sampling confirming high-grade gold mineralisation within the main zone of workings.

The initial RC drill program of ~ 2,000 m is planned to commence in April 2025 and will target the main zone of historical workings at Clone over ~700 m of strike.

A heritage survey has been completed by the Tibooburra Local Aboriginal Land Council (TLALC), with no heritage sites located on the drill pads or the field track required to access the northern drill holes. An APO for all proposed drillholes and the northern access track was successfully returned in March.

Authorised for release by the Board of Directors.

CONTACT

Investors:
Mike Spreadborough
+61 8 6400 6100
info@novoresources.com		North American Queries:
Leo Karabelas
+1 416 543 3120
leo@novoresources.com		Media:
Cameron Gilenko
+61 466 984 953
cameron.gilenko@sodali.com		 


QP STATEMENT

Mrs. Karen (Kas) De Luca (MAIG), is the qualified person, as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for, and having reviewed and approved, the technical information contained in this news release. Mrs De Luca is Novo’s General Manager Exploration.

JORC COMPLIANCE STATEMENT

The information in this news release that relates to previously reported Exploration Results from Novo’s NSW Gold Portfolio is extracted from Novo's ASX announcement entitled Novo Strengthens Portfolio with Two High-Grade Gold Projects in NSW, Australia released to ASX on 13 December 2024 which is available to view at www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the competent persons findings are presented have not been materially modified from the original market announcement.

The information in this news release that relates to the previously reported exploration target at Belltopper is extracted from Novo’s ASX announcement entitled Belltopper Mineralisation Modelling Defines Prospectivity released to ASX on 25 September 2024 which is available to view at www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information in the original market announcement and that the form and context in which the Competent Person’s findings are presented has not been materially modified from the original market announcement.

FORWARD-LOOKING STATEMENTS

Some statements in this news release may contain “forward-looking statements” within the meaning of Canadian and Australian securities law and regulations. In this news release, such statements include but are not limited to planned exploration activities and the timing of such. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the resource industry and the risk factors identified in Novo’s annual information form for the year ended December 31, 2024 (which is available under Novo’s profile on SEDAR+ at www.sedarplus.ca and at www.asx.com.au) and in the Company’s prospectus dated 2 August 2023 which is available at www.asx.com.au. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Novo assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Novo updates any forward-looking statement(s), no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.

__________________
1 Refer to ASX news release by Manhattan Corp dated 10/07/2023 – New High-Grade Gold Discovery
2 Refer to ASX news release by Novo Resources dated 13/12/2024 – Novo Strengthens Portfolio with Two High-Grade Gold Projects in NSW, Australia.

ABOUT NOVO

Novo is an Australian based gold explorer listed on the ASX and the TSX focussed on discovering standalone gold projects with > 1 Moz development potential. Novo is an innovative gold explorer with a significant land package covering approximately 5,500 square kilometres in the Pilbara region of Western Australia, along with the 22 square kilometre Belltopper project in the Bendigo Tectonic Zone of Victoria, Australia.

Novo’s key project area in the Pilbara is the Egina Gold Camp, where De Grey Mining is farming-in to form a JV at the Becher Project and surrounding tenements through exploration expenditure of A$25 million within 4 years for a 50% interest. The Becher Project has similar geological characteristics as De Grey’s 12.7 Moz Hemi Project#. Novo is also advancing gold exploration south of Becher in the Egina Gold Camp, part of the Croydon JV (Novo 70%: Creasy Group 30%). Novo continues to undertake early-stage exploration elsewhere across its Pilbara tenement portfolio.

Novo has also formed a lithium joint venture with SQM in the Pilbara which provides shareholder exposure to battery metals.

Novo has recently strengthened its high-quality, Australian based exploration portfolio by adding the TechGen John Bull Gold Project in the New England Orogen of NSW, and Manhattan Tibooburra Gold Project in the Albert Goldfields in northwestern NSW. Both projects demonstrate prospectivity for significant discovery and resource definition and align with Novo’s strategy of identifying and exploring projects with > 1 Moz Au potential. These high-grade gold projects compliment the landholding consolidation that forms the Toolunga Project in the Onslow District in Western Australia.

Novo has a significant investment portfolio and a disciplined program in place to identify value accretive opportunities that will build further value for shareholders.

Please refer to Novo’s website for further information including the latest corporate presentation.

Property Map

*An Exploration Target as defined in the JORC Code (2012) is a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade (or quality), relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource. Accordingly, these figures are not Mineral Resource or Ore Reserve estimates as defined in the JORC Code (2012). The potential quantities and grades referred to above are conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. These figures are based on the interpreted continuity of mineralisation and projection into unexplored ground often around historical workings. The Exploration Target has been prepared in accordance with the JORC Code (2012), as detailed in the Company’s ASX announcement released on 25 September 2024 (available to view at www.asx.com.au). The Tonnage range for the exploration target is 1.5Mt to 2.1Mt, the Grade range is 6.6g/t Au to 8.4g/t Au and the Ounces range from 320koz Au to 570 koz Au. The Company confirms that it is not aware of any new information that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the original market announcement continue to apply and have not materially changed. Dr Christopher Doyle (MAIG) and Dr Simon Dominy (FAusIMM CPGeo; FAIG RPGeo), are the qualified persons, as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for, and having reviewed and approved, the technical information relating to the Exploration Target. Dr Doyle is Novo’s Exploration Manager - Victoria and Dr Dominy is a Technical Advisor to Novo.

#Refer to De Grey’s ASX Announcement, Hemi Gold Project mineral Resource Estimate (MRE) 2024, dated 14 November 2024. No assurance can be given that a similar (or any) commercially viable mineral deposit will be determined at Novo’s Pilbara Projects.

 
Appendix 1 –Table of Soil Sample Results, GDA94 z54
 
Sample IDSample TypeYearEasting (m)Northing (m)Height (m)Au (ppb)
K00003Soil2025584,3796,725,36019120
K00005Soil2025584,4196,725,360185117
K00006Soil2025584,4406,725,359185291
K00007Soil2025584,4606,725,36018422
K00012Soil2025584,5596,725,35918915
K00023Soil2025584,5006,725,40019218
K00026Soil2025584,4416,725,39919229
K00027Soil2025584,4186,725,398192299
K00028Soil2025584,4016,725,40019038
K00029Soil2025584,3806,725,40019030
K00030Soil2025584,3596,725,40018916
K00031Soil2025584,3396,725,40018824
K00033Soil2025584,4006,725,48019023
K00034Soil2025584,3786,725,48118939
K00036Soil2025584,3606,725,47918831
K00037Soil2025584,3406,725,480189226
K00038Soil2025584,3206,725,48018840
K00039Soil2025584,3006,725,47918772
K00040Soil2025584,2796,725,47918721
K00041Soil2025584,2606,725,48018719
K00042Soil2025584,2386,725,47918721
K00046Soil2025584,2006,725,43918516
K00052Soil2025584,3206,725,439190137
K00053Soil2025584,3406,725,44019122
K00054Soil2025584,3616,725,43919024
K00055Soil2025584,3816,725,44019131
K00056Soil2025584,4016,725,440192154
K00057Soil2025584,4206,725,43919429
K00058Soil2025584,4416,725,44019532
K00075Soil2025584,4176,725,479192101
K00076Soil2025584,4406,725,519191178
K00077Soil2025584,4206,725,5201861,585
K00078Soil2025584,4066,725,520185848
K00079Soil2025584,3806,725,52018380
K00083Soil2025584,2406,725,52017919
K00084Soil2025584,2206,725,52017836
K00089Soil2025584,3216,725,56017715
K00090Soil2025584,3406,725,55917950
K00091Soil2025584,3606,725,558180286
K00093Soil2025584,4606,725,55918316
K00094Soil2025584,4806,725,55918335
K00102Soil2025584,4606,725,51918518
K00103Soil2025584,3016,725,640185112
K00104Soil2025584,3206,725,639185254
K00105Soil2025584,3416,725,640186188
K00106Soil2025584,3606,725,64018543
K00108Soil2025584,4006,725,63918716
K00113Soil2025584,5006,725,59918920
K00122Soil2025584,3616,725,60018740
K00123Soil2025584,3366,725,59918564
K00124Soil2025584,3216,725,60019021
K00125Soil2025584,3006,725,60019018
K00126Soil2025584,2806,725,59918962
K00127Soil2025584,2606,725,599189492
K00128Soil2025584,2406,725,60018838
K00129Soil2025584,2206,725,59918736
K00130Soil2025584,2206,725,63918715
K00131Soil2025584,2396,725,64018918
K00132Soil2025584,2606,725,64019129
K00133Soil2025584,2816,725,64019025
K00136Soil2025584,4396,725,68019731
K00138Soil2025584,4016,725,68019519
K00140Soil2025584,3616,725,68019218
K00141Soil2025584,3406,725,68019247
K00142Soil2025584,3196,725,6771921,440
K00143Soil2025584,3006,725,68019245
K00144Soil2025584,2766,725,67919120
K00149Soil2025584,2036,725,67618730
K00152Soil2025584,1606,725,75918417
K00153Soil2025584,1806,725,76118316
K00154Soil2025584,2406,725,75918221
K00155Soil2025584,2606,725,76018347
K00163Soil2025584,4206,725,76018629
K00168Soil2025584,3216,725,84018715
K00172Soil2025584,2206,725,84018523
K00176Soil2025584,1406,725,83918518
K00190Soil2025584,2216,725,92018751
K00223Soil2025584,0406,726,23918920
K00224Soil2025584,0606,726,24018921
K00239Soil2025583,9206,726,39919120
K00241Soil2025583,8806,726,39919125
K00253Soil2025583,9006,726,55920115
K00257Soil2025583,8206,726,55920515
K00258Soil2025583,8016,726,55920751
K00263Soil2025583,7016,726,56019823
K00268Soil2025583,6206,726,56019720
K00269Soil2025583,6006,726,56019624
K00274Soil2025583,5216,726,55919516
K00291Soil2025584,3616,725,88018919
K00306Soil2025584,2776,725,72118717
K00309Soil2025584,3406,725,72018616
K00322Soil2025584,3016,725,80018242
K00324Soil2025584,2006,725,80018322
K00333Soil2025584,1196,725,88018717
K00334Soil2025584,1416,725,88018621
K00338Soil2025584,1996,725,88018818
K00340Soil2025584,2396,725,88018820
K00354Soil2025584,2016,726,00019716
K00360Soil2025583,9006,726,16018315
K00451Soil2025584,4026,725,31917721
K00454Soil2025584,4616,725,32017975
K00455Soil2025584,4816,725,31817828
K00456Soil2025584,5006,725,32018121
K00479Soil2025584,5416,725,28018116
K00482Soil2025584,4826,725,28017719
K00499Soil2025584,4816,725,24017819
K00504Soil2025584,4606,725,71919055
K00506Soil2025584,5006,725,68018915
K00511Soil2025584,5206,725,59918218
K00512Soil2025584,5406,725,59918364
K00514Soil2025584,5796,725,56018617
K00528Soil2025584,6606,725,40019227
K00529Soil2025584,6406,725,40019331
K00539Soil2025584,4416,725,19918120
K00540Soil2025584,4616,725,20018115
K00550Soil2025584,6406,725,20019161
K00551Soil2025584,6606,725,20019016
K00567Soil2025584,6606,725,04019320
K00578Soil2025584,8606,725,03919032
K00601Soil2025584,5216,725,24118627
K00602Soil2025584,5416,725,24018815
K00611Soil2025584,7216,725,23919318
K00613Soil2025584,4256,725,16018622
K00614Soil2025584,4406,725,16018618
K00627Soil2025584,6606,725,16118726
K00658Soil2025584,6006,725,08118516
K00662Soil2025584,6806,725,08018532
K00663Soil2025584,7006,725,08018319
K00697Soil2025583,5206,726,72019716
K00708Soil2025584,6816,724,95917821
K00744Soil2025584,7016,724,80217826
K00762Soil2025583,4806,726,64119115
K00768Soil2025583,5806,726,64019224
K00772Soil2025583,6416,726,64019421
K00773Soil2025583,6616,726,64019618
K00800Soil2025583,7016,726,80020616
K00814Soil2025583,5996,726,96018919
K00846Soil2025583,5406,726,68019916
K00875Soil2025583,7406,726,88120115
K00888Soil2025583,5016,726,88019718
K00891Soil2025583,4426,726,88019348
K00896Soil2025583,3606,726,88019137
K00905Soil2025583,6206,726,60020422
K00953Soil2025583,6606,726,80020718
K00993Soil2025583,4406,726,84019318
K00994Soil2025583,4606,726,840193132


Appendix 2 –Table of Rock Sample Results, GDA94 z54
 
Sample IDSample TypeYearEasting (m)Northing (m)Height (m)Au g/t
R08501Rock Chip2025584,6306,725,2391880.01
R08502Rock Chip2025584,2076,725,8751850.01
R08503Rock Chip2025584,1366,726,016186<0.01
R08504Rock Chip2025584,1476,726,032186<0.01
R08505Rock Chip2025583,9596,726,024182<0.01
R08506Rock Chip2025583,9936,726,0861830.01
R08507Rock Chip2025583,7696,726,607198<0.01
R08508Rock Chip2025583,7016,726,775192<0.01
R08509Mullock Grab2025583,6366,726,5261930.01
R08510Rock Chip2025583,6376,726,5271920.03
R08512Rock Chip2025583,6526,726,4991930.01
R08513Rock Chip2025583,6456,726,5071920.01
R08514Rock Chip2025583,5386,726,696192<0.01
R08516Rock Chip2025583,4716,726,8301900.08
R08517Rock Chip2025583,4126,726,9661870.02
R08518Rock Chip2025584,9426,726,444203<0.01
R08519Rock Chip2025584,8866,726,6652100.01
R08520Rock Chip2025584,2696,725,5731830.04
R08521Rock Chip2025584,2716,725,5731820.02
R08522Rock Chip2025584,2746,725,5761830.02
R08523Rock Chip2025584,2546,725,6191820.01
R08524Mullock Grab2025584,2976,725,5731850.01
R08525Rock Chip2025584,2996,725,5751840.03
R08527Mullock Grab2025584,2856,725,7241850.02
R08528Rock Chip2025584,2926,725,7351830.01
R08529Rock Chip2025584,2846,725,7301830.01
R08530Rock Chip2025584,2866,725,7311830.03
R08531Mullock Grab2025584,3096,725,70318389.6
R08532Mullock Grab2025584,3136,725,69018441.9
R08533Mullock Grab2025584,3276,725,6701841.03
R08534Mullock Grab2025584,3306,725,6691841.7
R08536Rock Chip2025584,3456,725,6541847.72
R08537Rock Chip2025584,3516,725,6491834.01
R08538Rock Chip2025584,3566,725,6031873.88
R08539Mullock Grab2025584,3706,725,5861872.38
R08540Rock Chip2025584,3666,725,5881851.84
R08541Rock Chip2025584,3646,725,5881851.5
R08542Rock Chip2025584,3616,725,5881860.84
R08543Rock Chip2025584,3626,725,5861860.15
R08544Rock Chip2025584,3766,725,5681844.79
R08545Rock Chip2025584,3766,725,5681840.24
R08546Rock Chip2025584,3756,725,5691842.5
R08547Rock Chip2025584,3756,725,5691840.14
R08548Rock Chip2025584,3756,725,5691840.45
R08549Rock Chip2025584,3736,725,56918431.4
R08551Rock Chip2025584,3776,725,5681830.48
R08552Rock Chip2025584,3706,725,5751830.33
R08553Rock Chip2025584,3696,725,57518310.4
R08554Rock Chip2025584,3686,725,5741830.3
R08555Rock Chip2025584,3686,725,5731830.57
R08556Mullock Grab2025584,4686,725,5861860.08
R08557Rock Chip2025584,4766,725,5891870.04
R08558Rock Chip2025584,4736,725,5871870.03
R08559Rock Chip2025584,4016,725,5191884.91
R08561Rock Chip2025584,4006,725,5181880.44
R08562Rock Chip2025584,4006,725,5181882.32
R08563Rock Chip2025584,4076,725,5061980.09
R08564Rock Chip2025584,3996,725,5181880.12
R08565Rock Chip2025584,4906,725,5411990.02
R08566Mullock Grab2025584,4326,725,4551990.03
R08567Rock Chip2025584,6526,725,1522020.01
R08568Rock Chip2025584,6546,725,1472000.02
R08569Rock Chip2025584,6636,725,1362010.01
R08570Rock Chip2025584,6736,725,111199<0.01
R08571Rock Chip2025584,4396,725,7171940.01
R08572Rock Chip2025584,4776,725,5941870.02
R08573Rock Chip2025584,2776,725,4091820.02
R08574Rock Chip2025584,3476,725,438185<0.01
R08575Mullock Grab2025584,4166,725,3941860.19
R08576Mullock Grab2025584,4746,725,3051850.23
R08577Rock Chip2025584,5086,725,474192<0.01
R08578Rock Chip2025584,2306,725,586188<0.01
R08579Rock Chip2025584,7556,724,894190<0.01
R08580Rock Chip2025584,7286,724,883189<0.01
R08601Rock Chip2025585,4096,725,033190<0.01
R08602Rock Chip2025585,4336,724,539171<0.01


JORC Code, 2012 Edition – Table 1

Section 1: Sampling Techniques and Data

(Criteria listed in the preceding section also apply to this section)

CriteriaJORC Code explanationCommentary
Sampling techniques
  • Nature and quality of sampling (e.g., cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
  • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
  • Aspects of the determination of mineralisation that are Material to the Public Report.
  • In cases where ‘industry standard’ work has been done this would be relatively simple (e.g., ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g., submarine nodules) may warrant disclosure of detailed information.
  • Rock chips samples were collected by grab sampling 1 – 3 kg of material. Sample sites were selected based to be representative on the lithology sampled, and the same sampling technique was employed at each sample site where possible.
  • Mullock grab samples were collected by grab sampling 1 – 3 kg of material from mullock dumps adjacent to historical mining activities. These are to provide some indication of potential grades obtained from historic workings and are not representative of in situ material.
  • Soil samples of 200 g were collected from small pits 10 cm – 40 cm in depth and sieved to <80# mesh. A 30 g aliquot was digested via fire assay and analysed via AAS finish.
Drilling techniques
  • Drill type (e.g., core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g., core diameter, triple or standard tube, depth of diamond tails, face-sampling bit, or other type, whether core is oriented and if so, by what method, etc).
  • No drilling was undertaken.
Drill sample recovery
  • Method of recording and assessing core and chip sample recoveries and results assessed.
  • Measures taken to maximise sample recovery and ensure representative nature of the samples.
  • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.
  • No drilling was undertaken.
Logging
  • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
  • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
  • The total length and percentage of the relevant intersections logged.
  • No drilling was undertaken.
  • Rock chip samples are geologically logged with quantitative and qualitative data collected including a description of lithology, vein type and vein densities, and alteration.
Sub-sampling techniques and sample preparation
  • If core, whether cut or sawn and whether quarter, half or all core taken.
  • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.
  • For all sample types, the nature, quality, and appropriateness of the sample preparation technique.
  • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.
  • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.
  • Whether sample sizes are appropriate to the grain size of the material being sampled.
  • Rock chip samples were dried, crushed and pulverised with 85% passing < 75 µm (PUL-23) by ALS to create a 50 g charge, then assayed for Au by fire assay Au-AA26.
  • Soil samples required no preparation and were analysed for Au with a 30 g aliquot digested via fire assay and analysed via AAS finish.
  • The sampling techniques and sample sizes are considered appropriate for this style of mineralisation.
Quality of assay data and laboratory tests
  • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
  • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
  • Nature of quality control procedures adopted (e.g., standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (if lack of bias) and precision have been established.
  • The rock chip sample assay methodology is considered appropriate for the style of mineralisation tested. The method includes inserting 2 CRM standards and 2 blanks per 100 samples or at least one of each per sample submission.
  • The soil sample assay methodology has low level detection for gold and multi-elements and is considered appropriate for soil geochemistry for outcropping or near surface mineralisation. The method includes insertion of at least 2 blanks 2 CRM standards and 4 field duplicates per 100 samples.
  • No QAQC issues were detected.
Verification of sampling and assaying
  • The verification of significant intersections by either independent or alternative company personnel.
  • The use of twinned holes.
  • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
  • Discuss any adjustment to assay data.
  • Primary data was collected in the field and stored using database compatible excel templates which were then forwarded to the database manager email for upload to the Geobank (v2022.5) database, buffered through a validation portal that ensures code and primary record compliance. Geobank is a front-end UX/UI tender software platform (developed and sold by Micromine) attached to a SQL v15.1 server.
  • Assay data was loaded from lab certificates received from the registered laboratory by an internal database manager or external database consultant, and industry-standard audit trails and chain-of-custody was adhered to.
  • Verification included checking the data against original logs and utilising laboratory certificates.
  • No adjustments of the assay data were made.
Location of data points
  • Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
  • Specification of the grid system used.
  • Quality and adequacy of topographic control.
  • All surface sample locations were recorded by hand-held GPS using the GDA 2020 zone 54 co-ordinate system.
Data spacing and distribution
  • Data spacing for reporting of Exploration Results.
  • Whether the data spacing, and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
  • Whether sample compositing has been applied. 
  • Limited rock samples are taken and are indicative of potential grade tenor. These do not necessarily represent or imply any continuity or scale potential.
  • Grab samples from mullock dumps are not representative of in situ mineralisation and are only used as a guide as to potential historical activity.
  • Soil samples were taken on a nominal grid of 20 m by 40 m orientated to be perpendicular to the interpreted strike of the system.
Orientation of data in relation to geological structure
  • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
  • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
  • The soil sample grid was orientated to best intersect the lithological and structural trends at right angles.
  • Rock samples were taken across features with geological data recorded to best reflect unbiased sampling of possible mineralised structures.
Sample security
  • The measures taken to ensure sample security.
  • All samples are stored and managed on site by internal staff. Samples are then transported by reputable companies to a registered laboratory where they are stored in a locked facility before being tracked and processed through the preparation and analysis system at the laboratory.
Audits or reviews
  • The results of any audits or reviews of sampling techniques and data.
  • No audits have been undertaken.


Section 2: Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section)

CriteriaJORC Code explanationCommentary
Mineral tenement and land tenure status
  • Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
  • The security of the tenure held at the time of reporting along with any known impediments to obtaining a license to operate in the area.
  • The Tibooburra project comprises tenements EL7437, EL8688, EL8691, EL9092, EL9094 and EL9202 and are held by Awati Resources Pty Ltd, a wholly owned subsidiary of Manhattan
  • Novo is required to spend $0.5M within the first earn-in period of 12 months, and $1M within the second earn-in period of 12 months to earn the option to form a 70 / 30 unincorporated joint venture with Awati, in which Awati is free-carried until the completion of a positive definitive feasibility study3
  • The tenement package is covered by two separate Native Title Claims. The Malyangapa Combined Proceedings (NC2022/0002) and the Wongkumara people (QC2008/003). The region is administered by the Tibooburra LALC based in Tibooburra
  • The tenements are currently in good standing and there are no known impediments.
Exploration done by other parties
  • Acknowledgment and appraisal of exploration by other parties.
  • Proto Resources and Investments completed an RC drilling program at the Pioneer and Phoenix project in 2006.
  • Meteoric Resources completed RAB and Aircore drilling at the New Bendigo, Phoenix, Pioneer and The Kink prospects in 2011 and 2012. RAB holes at New Bendigo returned very strong gold anomalous results that highlighted the potential for significant gold mineralisation at the New Bendigo Prospect. Meteoric Resources also completed soil, stream and rock chip sampling across selected areas of the tenure.
  • Awati Resources completed diamond drilling in 2016 at New Bendigo as part of the NSW department Co-operative Drilling Program and followed up with an RC drilling program in 2018 confirming the gold anomalies in the 2011-2012 RAB drill program.
  • Manhattan Corporation completed additional RC drill programs at New Bendigo, Clone, Phoenix and Pioneer, identifying a substantial high-order gold anomaly at the Clone prospect
Geology
  • Deposit type, geological setting, and style of mineralisation.
  • The Tibooburra Project covers the Tibooburra and Koonenberry Greenstone Belts. The district is widely regarded as the northern extension of the Victorian Goldfields. The project is located at the boundary between two major orogens (Delamarian and Thomson) and mineralisation consists of high-grade laminated quartz-sulphide veins hosted within Cambrian sedimentary rocks intruded by Devonian granites within a tightly folded and faulted domain.
Drill hole Information
  • A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes, including Easting and northing of the drill hole collar, Elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar, dip and azimuth of the hole, down hole length and interception depth plus hole length.
  • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
  • Significant soil sample results that were the basis of the soil contours are listed in Appendix 1.
  • All rock sample results collected by Novo are listed in Appendix 2.
Data aggregation methods
  • In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g., cutting of high grades) and cut-off grades are usually Material and should be stated.
  • Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.
  • The assumptions used for any reporting of metal equivalent values should be clearly stated.
  • No drilling was undertaken.
Relationship between mineralisation widths and intercept lengths
  • These relationships are particularly important in the reporting of Exploration Results.
  • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
  • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g., ‘down hole length, true width not known’).
  • No drilling was undertaken.
  • Rock sample results are indicative in nature and, whilst representatively sampling the target lithology, do not contain any width or length information other than a qualitative description of the target.
Diagrams
  • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
  • Refer to the body of the release for appropriate maps and diagrams.
Balanced reporting
  • Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.
  • Due to the large number of soil samples, not all results are reported in Appendix 1. All results greater than 15 ppb are reported, comprising all samples used to generate anomalous soil contours.
  • All rock sample results are reported.
Other substantive exploration data
  • Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
  • No additional data.
Further work
  • The nature and scale of planned further work (e.g., tests for lateral extensions or depth extensions or large-scale step-out drilling).
  • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
  • Refer to the body of the release. Novo intends to complete a 2,000m RC drilling program to test the high-grade mineralisation at Clone at depth, along strike and down plunge.


No Section 3 or 4 report as no Mineral Resources or Ore Reserves are reported in this Appendix

__________________
3 Refer to ASX news release by Novo Resources dated 16/12/2024 – Novo Strengthens Portfolio with Two High-Grade Gold Projects in NSW, Australia

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/540ec385-0b56-4930-9955-d918c15766e2

https://www.globenewswire.com/NewsRoom/AttachmentNg/1256943b-c790-4d1b-bfa3-653e664b92f0

https://www.globenewswire.com/NewsRoom/AttachmentNg/0829898f-fad0-4e99-84f4-c7018ea24d34

https://www.globenewswire.com/NewsRoom/AttachmentNg/2d4edc6c-d557-4e05-800c-aea39ffbe737

https://www.globenewswire.com/NewsRoom/AttachmentNg/3656539e-4794-4c59-9471-98604893f417

https://www.globenewswire.com/NewsRoom/AttachmentNg/8429e080-cfc2-4804-8710-bc4eef98d0a3

https://www.globenewswire.com/NewsRoom/AttachmentNg/af0bed22-4da7-4ac2-84c9-11251ea8e4e3

https://www.globenewswire.com/NewsRoom/AttachmentNg/a62ccce8-36d9-40ec-ad26-93c866d86068


Primary Logo

Figure 1

Location of the Tibooburra Gold Project, in northwestern NSW.
Figure 2

Drone footage of mapping activities at the Clone prospect
Figure 3

Tibooburra project tenure, with regional geology, drill collars, main prospects, highlighting multiple parallel mineralised trends.
Figure 4

Structural mapping and thematically mapped minus 80# mesh soil samples over the ~ 3 km Clone Trend
Figure 5

Soil sampling anomaly and rock chip sampling across the main Clone Prospect
Figure 6

Detailed map showing Manhattan RC drill collars, in addition to results from recent Novo rock chip and mullock dump sampling at Clone; results may not be indicative of mineralisation in the district
Figure 7

Rock chip sample results from an exposure of the west dipping Clone Thrust, highlighting a significant high-grade zone of mineralisation over approx. 8 m width with a peak result of 31.4 g/t Au from the western-most quartz vein; results may not be indicative of mineralisation in the district
Property Map

Property Map

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