Novo field work extends high-grade mineralisation | Australian Markets

Novo Resources’ latest field exploration exercise at its farm-in John Bull gold project in New South Wales has supplied a host of new exploration targets, which the company plans to drill in June.

The company has prolonged its identified 100 components per billion soil gold anomaly to more than 1.5 kilometres of strike with a peak end result of 1.59 grams per tonne (g/t) gold, whereas sampling of quartz veins has nailed grades of 67.9g/t and 29g/t gold.

Sheeted quartz veins are related to vital northwest and northeast-trending structural zones, which coincide with historic mining places, and the high-grade rock chip outcomes which, together, level to the project’s high-grade mineralisation potential.

Novo’s latest field marketing campaign included detailed outcrop mapping, rock chip sampling and infill and step-out soil sampling to characterise geology.

It additionally recognized new targets and investigated identified prospects for doable depth or strike extensions and for zones of higher-grade mineralisation.

New targets have been recognized from high stage soil geochemical responses and the areas of sheeted quartz veining within beneficial or most popular rock varieties, together with distinctive alteration and brecciation (intense fracturing) of host rocks.

These associations have been recognized with an induced polarisation geophysical anomaly coincident with a main linear construction. Novo thinks the mix of beneficial elements, together with geochemistry, helps its interpretation of an intrusion-related gold system.

Geochemical associations and elemental zoning point out a close by tin-bismuth-arsenic core and a close by porphyry-style intrusive, which was mapped within the project southwest.

Flanking gold-molybdenum-copper-antimony-tellurium zones, surrounded by a halo of sheeted veining with a gold-arsenic-antimony-tungsten affiliation, additionally help the interpreted mineralisation type.

Best outcomes from Novo’s multi-element sampling embody 0.49 per cent tungsten, 780 components per million (ppm) tin, 5.6ppm molybdenum and 14.9ppm bismuth.

Novo says a number of new targets warrant drilling. The company plans to kick off an initial 1500-metre reverse circulation drilling program to check 4 key targets on the project in June, subject to rig availability and receipt of all compliance approvals.

Four key targets are slated for testing within the better John Bull location, together with the 100m-long northeast-trending John Bull breccia zone, which yielded the 67.9g/t gold hit and three different samples that graded higher than 5g/t gold.

The John Bull shear includes a second goal the place mapping revealed sturdy alteration alongside a broad northwest-trending shear zone, accompanied by rock chip pattern outcomes of up to 29g/t gold.

Two different goal areas on the historic sluicing space at John Bull South characteristic densely sheeted quartz veins. The space additionally contains high-grade soil pattern outcomes up to 4.77g/t gold, that are spatially related to a monzo-diorite intrusion.

Novo’s different precedence targets will embody three newly developed and untested places alongside about 1km of strike, which have been recognized during the latest mapping and floor sampling program.

At Novo’s Hill Creek West goal, an IP geophysical anomaly coincident with geochemical anomalism to a peak worth of 2.1g/t gold and a regional north-west trending fault represents a precedence goal.

It has one other precedence space at Diggers North, the place best soil outcomes embody 10g/t gold. Soil anomalism at Diggers North follows a main northwest-trending fault within the broader north-south mineralised hall.

The latest exploration mapping and sampling marketing campaign at John Bull has supplied some distinctive drill targets, which we’re excited to check by a ~1,500 m RC program in June. Sourcing drilling contractors is underway and governmental approvals for the drilling marketing campaign are eagerly awaited.

Novo has a farm-in association with ASX-listed explorer TechGen Metals Limited. The settlement grants Novo an option to amass an 80 per cent curiosity within the close by Mick’s Bull tenement and a 70 per cent curiosity within the John Bull tenement, following two tranches of exploration work and pre-determined expenditure.

The John Bull ground includes an superior exploration alternative about 49km west/northwest of Grafton, in NSW’s New England district. The tenure consists of two tenements enclosing about 32 sq. kilometres.

The space options a number of shafts and in depth areas of hydraulic sluicing for gold. TechGen’s soil sampling highlighted an exceptionally high-order gold anomaly more than 900m long and 250m large at higher than 100ppb gold, with seven samples reporting more than 4.5g/t gold.

TechGen additionally accomplished 17 reverse circulation holes for 2249.5m in 2022 and 2023, with an efficient take a look at to about 120m vertical depth.

Best outcomes from the work embody 94m at 0.95g/t gold from 4m, together with 66m at 1.14 g/t gold, and 17m at 1.08g/t gold from 109m. A second gap gave up 68m going 1g/t gold from floor, together with 23m at 2.02g/t gold.

Future work on the project will embody follow-up drilling, subject to the outcomes from section one infill and extensional drill testing, with diamond drilling to depth on chosen holes.

The work will concentrate on porphyry-related targets to the west and southwest of the John Bull sheeted vein arrays, with doable geophysical surveys and chosen drill testing.

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