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To: LoneClone who wrote (172833)7/18/2023 3:36:27 PM
From: LoneClone  Read Replies (1) | Respond to of 192522
 
Novo Resources: Exploration Update Focused On Discovery Success In 2023

finance.yahoo.com

Novo Resources Corp.
Tue, July 18, 2023 at 7:40 AM PDT·33 min read

Figure 1



Novo’s extensive Pilbara tenement holding, showing key targets and joint venture locations.
Figure 2


Egina Gold Camp tenure showing the Becher and Nunyerry North Projects and the priority Becher prospects(4) .
Figure 3



New significant gold assay results from AC drilling (green callouts) at Becher, showing developing target areas and geological interpretation.
Figure 4



Specimen gold from the main soil anomaly at the Nunyerry North prospect.
Figure 5



Nunyerry North soil anomaly and geological structure, over aerial photography with peak rock chip results
Figure 6



Location and tenure of the Balla Balla Project, with preliminary structural interpretation and newly defined prospects. Location of the Egina JV tenure with De Grey in light green.
Figure 7a


R06922 (left) intensely altered vein selvedge with assay results to 0.142 g/t Au, 387 g/t Ag, 0.39% Cu, 1.6 % Zn and 1.2% Pb and R06923 assaying 0.19 g/t Au, 361 g/t Ag and 0.58% Pb.
Figure 7b


R06922 (left) intensely altered vein selvedge with assay results to 0.142 g/t Au, 387 g/t Ag, 0.39% Cu, 1.6 % Zn and 1.2% Pb and R06923 assaying 0.19 g/t Au, 361 g/t Ag and 0.58% Pb.
Figure 8


Tenements of the Bamboo-Strattons Project area, East Pilbara, showing interpreted Bridget Suite intrusions.
Figure 9



Location of the Quartz Hill JV at Nullagine, Western Australia
Figure 10


The Belltopper Gold Project, Bendigo Tectonic Zone, Victoria.
Figure 11



Soil geochemistry across the high priority NW corner of the Belltopper Project area. Left image shows Au-in-Soil (ppb); whilst right image shows As-in-Soil (ppm). Red lines are significant gold-reefs on the project. Mustard polygon in south of images represents basalt volcanic cover. Significant anticlinal corridors depicted. A strong correlation between Au and As is evident within the data and highlight zones of intense alteration.

HIGHLIGHTS

  • 8,000 m of drilling planned for H2 2023 across key Pilbara prospects and Belltopper gold project (“Belltopper”) in Victoria1. Drill programs are expected to support future shareholder value and planned ASX dual listing process, which remains proposed for Q3 2023.

  • Recent A$10 million cornerstone investment and earn-in and joint venture (“Egina JV”)2 with De Grey Mining Limited (ASX:DEG) (“De Grey”) highlights exciting future of Novo’s Becher project. The Egina JV introduces De Grey’s proven exploration success and accelerates exploration at Becher. It also allows Novo to advance other prospective areas within its sizeable exploration portfolio.

  • Novo’s flagship Becher project is located in the northern section of the Egina Gold Camp, 28 km along trend from De Grey’s 11.7 Moz Au (JORC 2012)3 Pilbara Gold Project.

  • Novo completed 2,540 aircore (“AC”) holes for over 61,400 m at Becher to the end of June 2023. Results have delivered promising gold and multi-element assays and defined a large area of gold mineralisation across 5 sq km, with a total of 109 intercepts > 1 g*m Au reported from drilling to date.

  • New results from Becher continue to deliver positive intercepts including (89 holes pending assay results):

  • 3 m @ 2.9 g/t Au from 66 m in F2140

  • 6 m @ 0.45 g/t Au from 30m and 6 m @ 0.51 g/t Au from 60 m in F2137

  • 3 m @ 0.94 g/t Au from 12 m and 12 m @ 0.25 g/t Au from 30 m including 3 m @ 0.36 g/t Au from 36 m in F2253

  • 3 m @ 0.88 g/t Au from 21 m in F2136

  • 6 m @ 0.37 g/t Au from 33 m in F2247

  • 3 m @ 0.64 g/t Au from 12 m in F2299

  • 3 m @ 0.61 g/t Au from 9 m in F2150

  • Nunyerry North, located in the southern section of the Egina Gold Camp, is the next target being progressed as part of Novo’s aggressive Pilbara exploration focus. Novo’s maiden drill program, testing the extensive coherent high-tenor soil anomaly, is planned for H2 20231.

  • Balla Balla, an emerging project in the northern Pilbara, covers an area over 1,200 km sq focussed on the major Sholl Shear structural corridor. Reconnaissance drilling is planned in H2 20231.

  • Novo is developing targets around recently identified gold-anomalous intrusions at Bamboo-Strattons projects in the East Pilbara near Marble Bar where reverse circulation (“RC”) drilling is planned for H2 20231.

  • Priority targets emerging at the Belltopper project in Victoria, following a detailed review and synthesis of recent and historic exploration data. Diamond drilling is scheduled for H2 20231.

  • Novo continues to liaise with Pilbara Traditional Owners across whose land we explore and operate to implement the requirements of the new Western Australian Aboriginal Cultural Heritage Act 2021 (the "Act"), with minimal delays to Tier One activities as defined in the Act (field work such as surveying, mapping, soil and stream sampling and other low impact activities).

  • Strategic review of Nullagine Gold Project to assess value maximising options for shareholders (which may include divestment or joint ventures) ongoing, with appointment of advisor progressing.

  • _______________________________________________
    1 All planned exploration programs are subject to exploration results and funding.
    2 Refer to the Company’s news releases dated June 21, 2023 and June 28, 2023.
    3 De Grey has reported that its Hemi deposit at the Pilbara Gold Project is comprised of Measured Mineral Resources of 4.7 Mt @ 1.7 g/t Au for 265 koz Au, Indicated Mineral Resources of 184.1 Mt @ 1.3 g/t Au for 7,798 koz Au, and Inferred Mineral Resources of 89.2 Mt @ 1.3 g/t Au for 3,684 koz Au, as those categories are defined in the JORC Code (as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). Refer to De Grey’s public disclosure record for further details. No assurance can be given that a similar or any mineral resource estimate will be determined at Novo’s Becher Project.

    VANCOUVER, British Columbia, July 18, 2023 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to provide an update on exploration efforts across its prospective project portfolio, with an 8,000 m drilling program planned for H2 2023 across key Pilbara prospects and Belltopper in Victoria1.

    Commenting on the H2 2023 drill program, Novo Executive Co-Chairman and Acting CEO Mike Spreadborough said, “The first half of 2023 has been a transformative period for Novo, highlighted by our earn-in and joint venture agreement at our flagship Becher project with leading Western Australian gold developer De Grey, who we also welcomed as our largest shareholder through a cornerstone investment of A$10 million.

    “We are set for an exciting and busy second half. Importantly, our highly prospective 10,500 sq km exploration portfolio in the Pilbara and Belltopper in Victoria provides Novo with a strong platform for growth and we have several exploration programs planned to commence across key targets.

    “We are also progressing our ASX listing plans and remain on track to hit the boards in Q3 2023. The move to dual list on the ASX is the logical next step in our growth plans, considering local investor appetite for mining and exploration companies with projects located in Australia. We believe the listing would provide significant benefits to Novo including increased liquidity, access to potential new sources of equity and attracting institutional investment and equity research coverage as we seek to deliver on our growth strategy.”

    Successful exploration work in the first half of 2023 at the Company’s flagship Becher project led to the completion of an earn-in and joint venture arrangement with De Grey (Egina JV), which includes newly defined targets at Irvine, Heckmair and Whillans.

    Pursuant to the agreement, De Grey can spend A$25 million over 4 years to earn a 50% interest in the Egina JV. Becher is located just south of De Grey’s 11.7 Moz (JORC 2012)3 Pilbara Gold Project. In addition to the Egina JV, De Grey separately completed a cornerstone investment of A$10 million in Novo for an approximate 11.6% post-financing undiluted interest and became the Company’s largest single shareholder2.

    Novo’s Pilbara exploration focus has moved to the Nunyerry North project, located in the south of the Egina Gold Camp. The Company has finalised drill program design and planning for a maiden drill program, which is set to commence in H2 20231.

    In addition to drilling at Nunyerry North, Novo plans to complete reconnaissance drill programs to test structurally controlled and intrusion-hosted gold mineralisation at the Balla Balla Project in the West Pilbara and at Bamboo-Strattons near Marble Bar1.

    Priority targets are emerging at Belltopper, located in the Bendigo Tectonic Zone, Victoria, following detailed review and synthesis of recent and historic exploration data. Diamond drilling is scheduled for H2 20231.



    Novo Resources Corp.
    Figure 1: Novo’s extensive Pilbara tenement holding, showing key targets and joint venture locations.

    THE BECHER PROJECT

    Major Western Australian gold developer De Grey can spend up to A$25 million on exploration at Becher and adjacent tenements (Figure 2), encompassing approximately 1,000 sq km, pursuant to the Egina JV.

    Subject to a minimum commitment of A$7 million within 18 months, De Grey will earn a 50% direct stake in the relevant tenements by spending A$25 million on exploration within four years. Once De Grey spends A$25 million, the 50/50 Egina JV will be established. De Grey will manage all exploration under the earn-in and become the manager of the Egina JV once established.

    Becher tenements are positioned adjacent to De Grey’s 11.7 Moz Au (JORC 2012)3 Pilbara Gold Project on which De Grey has reported that it expects to release a Definitive Feasibility Study in Q3 2023. Novo’s exploration program to date at Becher has displayed geological indicators required for potential discovery success.



    Novo Resources Corp.
    Figure 2: Egina Gold Camp tenure showing the Becher and Nunyerry North Projects and the priority Becher prospects4.

    ________________________________________________
    4 De Grey has reported that, at the Pilbara Gold Project, its (i) Mount Berghaus deposit is comprised of Indicated Mineral Resources of 1 Mt @ 1.7 g/t Au for 53 koz Au and Inferred Mineral Resources of 3.4 Mt @ 1.2 g/t Au for 128 koz Au, (ii) Wingina Well deposit is comprised of Measured Mineral Resources of 3.1 Mt @ 1.7 g/t Au for 173 koz Au, Indicated Mineral Resources of 1 Mt @ 1.4 g/t Au for 43 koz Au, and Inferred MineralResources of 1.4 Mt @ 1.6 g/t Au for 72 koz Au, (iii) Toweranna open pit deposit is comprised of Indicated Mineral Resources of 8.3 Mt @ 1.6 g/t Au for 418 koz Au and Inferred Mineral Resources of 2.5 Mt @ 1.5 g/t Au for 120 koz Au, (iv) Toweranna underground deposit is comprised of Indicated Mineral Resources of 0.1 Mt @ 3.0 g/t Au for 11 koz Au and Inferred Mineral Resources of 0.5 Mt @ 2.9 g/t Au for 49 koz Au, (v) Mallina deposit is comprised of Indicated Mineral Resources of 1.6 Mt @ 1.2 g/t Au for 64 koz Au and Inferred Mineral Resources of 5.1 Mt @ 1.5 g/t Au for 243 koz Au, (vi) Withnell open pit deposit is comprised of Measured Mineral Resources of 1.3 Mt @ 1.5 g/t Au for 62 koz Au, Indicated Mineral Resources of 3 Mt @ 1.8 g/t Au for 178 koz Au, and Inferred Mineral Resources of 0.7 Mt @ 2.0 g/t Au for 43 koz Au, (vii) Withnell underground deposit is comprised of Indicated Mineral Resources of 0.1 Mt @ 4.3 g/t Au for 16 koz Au and Inferred Mineral Resources of 2.4 Mt @ 3.9 g/t Au for 301 koz Au, and (viii) Hemi deposit is comprised of Indicated Mineral Resources of 165.7 Mt @ 1.3 g/t Au for 6,876 koz Au and Inferred Mineral Resources of 70.2 Mt @ 1.2 g/t Au for 2,632 koz Au, as those categories are defined in the JORC Code (as defined in NI 43-101). Refer to De Grey’s public disclosure record for further details. No assurance can be given that a similar or any mineral resource estimate will be determined at Novo’s Becher Project.

    Becher Drilling Update

    The Becher Project covers an area approximately 20 sq km in the north of the 100% Novo owned E47/3673 exploration tenement. The area is characterised by shallow cover overlying the prospective Mallina Basin.

    Novo commenced AC drilling in September 2022 testing a series of interpreted structural corridors and intrusion related targets. In ten months, which included a 3 month break due to the Pilbara cyclone season, the Company completed 2,540 holes for ~61,400 m, with 89 holes pending assay results. The drill program identified 207 intercepts > 0.5 g*m Au, including 109 intercepts > 1 g*m Au, reported from the results received to date, a standout result for reconnaissance AC drilling.

    Novo’s 2022 drill program proved to be extremely promising across several fronts:

  • The location and tenor of gold assay results from drill sampling provided confidence in the fertility of the interpreted regional structural corridors.

  • Multi-element analysis of bottom-of-hole AC drill samples revealed intrusion-related “sanukitoid” signatures, which are known hosts to gold mineralisation elsewhere in the district.

  • The distribution of pathfinder elements such as arsenic, antimony and tungsten (amongst others) defined vectors which have helped finesse understanding of the controls on gold mineralisation.

  • The cover is shallow (generally less than 10 m) and is less consequential than expected.

  • These findings had considerable influence in targeting and prioritising the 2023 drill programs. The significant gold and multielement assay results identified multiple targets including a large, priority area of anomalism across some 5 sq km at Becher across the Heckmair, Irvine and Whillans prospects. Both geological setting and pathfinder multielement assays appear favourable and gold has been identified in varied host rocks, including hornblende-diorite and quartz-diorite intrusions, sedimentary rocks and quartz veins.

    Drilling at Becher was completed by Novo in June 2023. New results from this program include (Figure 3):

  • 3 m @ 2.9 g/t Au from 66 m in F2140

  • 6 m @ 0.45 g/t Au from 30 m and 6 m@ 0.51 g/t Au from 60 m in F2137

  • 3 m @ 0.94 g/t Au from 12 m and 12 m @ 0.25 g/t Au from 30 m, including 3 m @ 0.36 g/t Au from 36 m in F2253

  • 3 m @ 0.88 g/t Au from 21 m in F2136

  • 6 m @ 0.37 g/t Au from 33 m in F2247

  • 6 m @ 0.2 g/t Au from 21 m and 3 m @ 0.64 g/t Au from 63 m in F2138

  • 3 m @ 0.64 g/t Au from 12 m in F2299

  • 3 m @ 0.61 g/t Au from 9 m in F2150

  • 6 m @ 0.26 g/t Au from 15 m in F2143

  • Refer to Table 1 and Table 2 in the Appendix below for a complete list of assay results. True widths from AC drilling cannot be estimated at this time.

    Recently returned results confirm gold mineralisation along mineralised structures that trend NE-SW between the Heckmair and Whillans prospects, with several intercepts displaying strong kaolinite-sericite alteration of the basement sedimentary rocks and distinctive dark grey coarsely crystalline quartz veining.

    Gold mineralisation has also been confirmed at the intersection of the NE-SW trending northern Irvine Shear and southeast contact of the Heckmair hornblende diorite “sanukitoid” intrusion and surrounding mudstone and sandstone lithologies. This provides further vectoring to a triangle wedge of increased gold anomalism on the margins of these two prospects.

    Drilling at Becher was completed by Novo on 29 July 2023. All samples have been dispatched to Perth and are now with Intertek Genalysis for analysis. A total of 29,723 meters in 1,127 holes have been completed in the two and a half month 2023 AC drilling campaign.



    Novo Resources Corp.
    Figure 3: New significant gold assay results from AC drilling (green callouts) at Becher, showing developing target areas and geological interpretation.

    Next Steps

    Exploration programs and overall management of the Egina JV area were transitioned across to De Grey on 1 July 2023. An update on the planned exploration program at Becher to be executed by De Grey is expected to be released before the end Q3 2023.

    NUNYERRY NORTH DRILL UPDATE (E47/2973 - NOVO 70% / CREASY GROUP 30%)

    The Nunyerry North prospect is located within the Egina Gold Camp, approximately 80 km southwest of Becher (Figure 2) and is the next drill target being advanced as part of Novo’s aggressive Pilbara exploration program.

    The geology of the Nunyerry North target area includes sheeted quartz vein-related gold mineralization within a sequence of ultramafic komatiites and mafic rocks, juxtaposed by regional shears and offset faults. Exploration programs completed to date include 40 x 20 m spaced -80 mesh grid soil sampling, rock chip sampling and detailed mapping.

    The high-order gold soil anomaly at Nunyerry North extends over 1.4 km strike with a central coherent >100 ppb Au anomaly extending over 640 m strike, with a second 1.3 km long soil anomaly at > 30 ppb gold defined south of the main target. Twenty soil samples returned > 1 g/t Au including 2.3 g/t Au and 2.13 g/t Au5. Rock chip sampling by Novo has yielded peak values of 30.3 g/t Au, 21.1 g/t Au and 19 g/t Au in 20215.

    Nunyerry North was identified by the Creasy Group in 2016 with fine gold panned in several streams. In 2017, the area was covered with 160 x 80 m spaced soil sampling defining a >300 ppb Au anomaly over 320 m over the main target5.



    Novo Resources Corp.
    Figure 4: Specimen gold from the main soil anomaly at the Nunyerry North prospect.

    Heritage clearances have recently been completed for Nunyerry North, allowing final drill program design and planning for Novo’s maiden drill program, which is set to commence in H2 2023.



    Novo Resources Corp.
    Figure 5: Nunyerry North soil anomaly and geological structure, over aerial photography with peak rock chip results

    _____________________________________________
    5 Refer to the Company’s news release dated February 17, 2022.

    BALLA BALLA PROJECT (NOVO 100%)

    Balla Balla is an emerging exploration target area covering an area over 1,200 sq km located in the northwestern Pilbara. The interpreted gold targets lie along potentially fertile structural corridors under cover, centered on the Sholl Shear corridor and associated structures. Though very little systematic prior exploration for gold has been completed, several small gold historic workings are present. The project area is prospective for intrusion-related gold mineralisation in addition to structurally hosted gold. Interpretation and targeting reviews are underway utilising high-resolution geophysical and satellite data sets and applying learnings from Becher, with several priority target areas defined including Walter Well, Jam Well and Ramquarry.

    Planning for heritage surveys and reconnaissance AC drilling under cover, testing current structural and intrusion-related targets, is ongoing. Several pegged exploration licenses within the Balla Balla Project are in the final stages of the approval process and are expected to be granted in H2 2023.

    Extensive historical data amalgamation and evaluation continues and will be followed by early groundwork focusing on first pass regional exploration around the existing Destivelle prospect and the newly defined Johnson Well East, Christmas Well and Woolshed Well prospects (Figure 6).



    Novo Resources Corp.
    Figure 6: Location and tenure of the Balla Balla Project, with preliminary structural interpretation and newly defined prospects. Location of the Egina JV tenure with De Grey in light green.

    SOUTH PILBARA PROJECT

    Initial reconnaissance mapping and surface sampling programs at the Rocklea Dome and Wyloo Dome Projects in the southern Pilbara continued during 2022/2023. Numerous stream sediment gold and multielement anomalies require follow-up work.

    Follow-up exploration on a broad gold-antimony stream sediment anomaly defined in 2021 in the south-eastern part of the Wyloo tenement has identified a zone of quartz sulphide veining rich in base metals and highly anomalous silver. A sulphide-rich ENE trending quartz vein, outcropping over 150m strike and in a zone up to 5 m thick trends under cover in both directions. Strong kaolinite sericite alteration occurs proximal to the vein (10 m). Samples reported peak results of up to 0.52 g/t Au, 387 g/t Ag, 5% Pb, 1.6% Zn and 2.4% Cu (Table 3). Follow-up mapping and rock chip sampling will be conducted.





    Novo Resources Corp.





    Novo Resources Corp.

    Figure 7: R06922 (left) intensely altered vein selvedge with assay results to 0.142 g/t Au, 387 g/t Ag, 0.39% Cu, 1.6 % Zn and 1.2% Pb and R06923 assaying 0.19 g/t Au, 361 g/t Ag and 0.58% Pb.

    First pass RC drilling at the Bellary Dome Project (“Bellary”), South Pilbara was recently completed, testing three distinct targets at Catia, Catia East and Edney’s Find. Sporadic intervals of gold mineralisation were defined at Catia, with a peak interval of 2 m @ 2.72 g/t Au from 8 m. Six holes for 312 m were drilled at the Edney’s Find Conglomerate where peak gold values from trench rock chip samples in 2020 returned 36.4 ppm Au and numerous nuggets were located at surface. Drilling intersected channelised ‘buckshot’ (pyritic) conglomerate on a major unconformity with a peak result of 1 m @ 2.3 g/t Au. The Edney’s Find target is open to the W and SW. The project is under review, with no further drilling planned at this time6.

    _________________________________________________
    6 Refer to the Company’s news release dated June 12, 2023.

    EAST PILBARA – BAMBOO-STRATTONS INTRUSION RELATED GOLD

    The Bamboo and Stratton Projects are located approximately 60 km east of Marble Bar in the East Pilbara district of Western Australia. Regional reconnaissance exploration programs have been completed in 2022/2023 and identified a potentially new and unusual style of intrusion-related gold mineralisation.

    A series of 1.73 Ga Bridget Suite intrusive rocks are recognised along a > 150 km north-northwest trend within these combined projects, with several intrusions observed to outcrop or subcrop on Novo tenure (Figure 8). Whole rock geochemical analysis conducted by Novo indicates prospectivity for intrusion related gold mineralisation.

    The Bridget Suite intrusions range in composition from hornblende monzogranite to quartz monzonite and associated hornblende porphyry dykes and as such, they postdate the mineralisation events responsible for gold deposits in the Mosquito Creek and Mallina Basins.

    Novo sampling has returned anomalous gold results in soil sampling, in proximity to one or more of these intrusions that have intruded the otherwise unmineralized upper Fortescue sequences, suggesting surface mineralisation is related to their emplacement.



    Novo Resources Corp.
    Figure 8 Tenements of the Bamboo-Strattons Project area, East Pilbara, showing interpreted Bridget Suite intrusions.

    Additional sampling and mapping programs are currently underway and is expected to culminate in a RC drilling program targeting the most prospective areas.

    QUARTZ HILL JV (Lithium) UPDATE

    Liatam Mining Pty Ltd ("Liatam") has the right to earn an 80% interest in battery mineral rights in the Quartz Hill project by December 20247.

    Liatam is the Australian-based manager of the Bald Hill lithium and tantalum mine in Western Australia and Novo’s battery minerals joint venture partner at the Quartz Hill Project in the Mosquito Creek Basin, Western Australia. Liatam also made a strategic investment of C$5 million in Novo.

    _______________________________________________
    7 Refer to the Company’s news release dated December 15, 2022.



    Novo Resources Corp.

    Figure 9: Location of the Quartz Hill JV at Nullagine, Western Australia

    In February of 2023, Liatam announced their exploration plan for 20238 and have since completed orientation soil sampling surveys and regional sampling of the Quartz Hill pegmatite fields. A series of field-based mapping evaluations have been conducted to assess the effectiveness of, and gather learnings from, previous explorers mapping, mineral identification, and rock chip sampling programs. Detailed geological mapping and rock chip sampling is scheduled to continue concurrent with soil sampling to map pegmatite outcrop distribution, geometry, mineralogy, and zonation patterns.

    Liatam advises that its exploration plan is on track to meet the A$1.5 million earn-in requirement, with possible drill testing following heritage and environmental approvals.

    BELLTOPPER PROJECT – VICTORIA (NOVO 100%)

    A focused approach at synthesizing multi-disciplinary exploration data at the Belltopper Gold Project, Victoria (Figure 10) has highlighted several high-priority target areas. Drilling, mapping and surface sampling, ground and airborne geophysics (IP, magnetics and gravity), structural framework, geochemical studies, and extensive historic mining data capture are now incorporated into the evolving 3D prospectivity model at Belltopper which provides a solid framework for effective drill targeting.

    ________________________________________________
    8 Refer to the Company’s news release dated February 23, 2023.

    Figure 10 accompanying this announcement is available at globenewswire.com

    Figure 10: The Belltopper Gold Project, Bendigo Tectonic Zone, Victoria.

    Priority one targets at Belltopper typically comprise one or multiple fault-controlled epizonal high-grade Au and/or Au + Sb reefs accompanied by intense and widespread sericite-silica-clay alteration, commonly within zones of high structural complexity. Multi-element geochemistry around several target reefs show elevated As–Bi–W (–Sn–Te); and coupled with occurrence of a gold-bearing late Devonian felsic intrusion, are likely indicative of input from Intrusion Related Gold (IRG) mineralisation, further demonstrating the varied nature of potential mineralization-styles evident at Belltopper that also includes: shear/fault related (e.g. Stawell, Costerfield); anticline related (e.g. Fosterville); and potentially intrusion hosted styles (e.g. Woods Point, Walhalla).

    Figure 11 accompanying this announcement is available at globenewswire.com

    Figure 11: Soil geochemistry across the high priority NW corner of the Belltopper Project area. Left image shows Au-in-Soil (ppb); whilst right image shows As-in-Soil (ppm). Red lines are significant gold-reefs on the project. Mustard polygon in south of images represents basalt volcanic cover. Significant anticlinal corridors depicted. A strong correlation between Au and As is evident within the data and highlight zones of intense alteration.

    To date, Novo has identified several exciting, high-priority new and existing targets that warrant additional or new drilling, including targets from the successful 2021 - 2022 diamond campaign that tested the Missing Link Granite (e.g. MD17 returning 79.9 m @ 0.26 g/t Au from 197 m); the Leven Star Reef (e.g. MD16 returning 14 m @ 6.1 g/t Au from 120 m, and 10 m @ 4.9 g/t Au from 173 m); the Queens Birthday Reef (MD20 returning 3.1 m at 9.27 g/t Au from 400.9 m) and the O’Connors Reef (MD19 returning 9 m at 1.1 g/t Au from 257 m)9.

    All targets at Belltopper are currently in the process of being ranked and prioritised against criteria that include, but are not limited to, structural complexity (e.g. anticlines, reef intersections), alteration intensity, ME pathfinder zones, geophysical features (e.g. chargeability-resistivity anomalies, gravity gradients, magnetic anomalies), demonstrated high-grade gold (e.g. known reefs; shoot zones; historic production zones), and evidence for multiple styles that may indicate overprinting mineralization events.

    _______________________________________________
    9 Refer to the Company’s news releases dated May 10, 2022, June 21, 2022, September 6, 2022, and November 18, 2022.

    Diamond drilling at Belltopper is scheduled for H2 2023 and will focus on the top ranked targets delivered from current targeting efforts and any statutory drilling on the highly prospective Leven Star Reef.

    HERITAGE UPDATE

    The Act, which came into effect on 1 July 2023, is designed to achieve equity in the relationship between Aboriginal people, industry, and government. The Western Australian exploration and mining industry has commenced implementation of the requirements of the Act. Novo has long-standing good relations with the Traditional Owners across whose land it explores and operates and to date Novo has experienced minimum delays with the progression of its exploration activities. At present, the majority of Novo’s work is related to Tier 1 activities as defined in the Act10, including low impact activities involving field work such as surveying, mapping, soil and stream sampling. At Nunyerry North, where drilling activities are planned, all heritage surveys and approvals have been granted with the next step being to establish access for drilling equipment. Novo will continue to engage with Traditional Owners with regards to its activities in a manner that respects all aspects cultural heritage.

    ASX DUAL LISTING

    Novo has commenced a process to seek a dual listing on the Australian Securities Exchange (“ASX”) through an initial public offering (the “IPO”), with further updates to follow. Argonaut has been appointed lead manager to the IPO11.

    A listing on the ASX would complement Novo’s current TSX and OTCQX listings and is considered a logical next step given the location of Novo’s assets.

    NULLAGINE GOLD PROJECT STRATEGIC REVIEW

    The Nullagine Gold Project (“NGP”) consists of the Mosquito Creek Basin (“MCB”), the Beatons Creek Project and the Golden Eagle Processing Facility. The NGP remains in care and maintenance following suspension of operations in September 2022.

    Novo has now commenced a strategic review of the Nullagine Gold Project to assess value maximising options for shareholders which may include divestment or joint ventures. Appointment of an advisor is being progressed.

    ANALYTICAL METHODOLOGY

    Becher AC Drilling

    AC drilling is utilised as a first pass technique testing for gold mineralisation and anomalous pathfinder geochemistry in basement rocks under cover. The drilling methodology is rapid and low cost, with a low impact footprint, enabling large systematic programs to be completed in a cost effective and timely manner.

    One metre AC drill samples are collected from the drill rig through a cyclone and placed on the ground in piles for geological quantitative and qualitative logging. These piles are then speared as three-meter composites into a 500-gram ChrysosTM PhotonAssay jar. Some of the end of hole intervals are shorter than three meters depending on final hole depths. Jars are dispatched weekly to Intertek Genalysis (“Intertek”) in Perth, Western Australia and analysed for gold using ChrysosTM PhotonAssay (PHXR/AU01).

    _________________________________________________
    10 Refer to the Activity Tiers and Table publication prepared in accordance with the Act by the Government of Western Australia.
    11 Refer to the Company’s news release dated June 21, 2023.

    QAQC procedures for the program include insertion of a certified blank approximately every 25 samples (4 per hundred), a ChrysosTM PhotonAssay certified standard approximately every 50 samples (2 per 100) and duplicate sampling (split of 3 m composite) at the rate of 4 per hundred. In addition, Intertek inserts ChrysosTM PhotonAssay certified standards at the rate of 2 per hundred.

    There were no limitations to the verification process and all relevant data was verified by a qualified person as defined in NI 43-101 by reviewing analytical procedures undertaken by Intertek.

    Wyloo Rock Chip Sampling

    Rock chip samples were crushed and pulverized, then assayed for Au by four acid digest and 50 g charge fire assay FA50/OE and for 48 multielement using four acid digest – MS finish (4A/MS). Two (2) CRM standards were submitted with the batch.

    QP STATEMENT

    Mrs. Karen (Kas) De Luca (MAIG), is the qualified person, as defined under NI 43-101, responsible for, and having reviewed and approved the technical information contained in this news release other than information concerning De Grey’s Pilbara Gold Project. Mrs De Luca is Novo’s General Manger Exploration.

    ABOUT NOVO

    Novo explores and develops its prospective land package covering approximately 10,500 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. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its stakeholders.

    For more information, please contact Michael Spreadborough at +61-419-329-687 or mike.spreadborough@novoresources.com, or Leo Karabelas at +1-416-543-3120 or leo@novoresources.com.

    On Behalf of the Board of Directors,

    Novo Resources Corp.

    Michael Spreadborough

    Michael Spreadborough

    Executive Co-Chairman and Acting CEO

    Forward-looking information

    Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, drilling plans for H2 2023 across key Pilbara prospects which are expected to support future shareholder value and the planned ASX dual listing process, that Nunyerry North is the next target being progressed as part of Novo’s aggressive Pilbara exploration focus and that a maiden RC drill program at Nunyerry North, testing the extensive coherent high-tenor soil anomaly, is planned for H2 2023, that drilling is planned in H2 2023 at Balla Balla, Bamboo-Strattons, and Belltopper, that Novo’s exploration program to date at Becher has displayed geological indicators required for potential discovery success, that the strategic review of the Nullagine Gold Project to assess value maximising options for shareholders (which may include divestment or joint ventures) ongoing, with appointment of advisor progressing, that Novo’s highly prospective 10,500 sq km exploration portfolio in the Pilbara and Belltopper Project in Victoria provides Novo with a strong platform for growth and we have several exploration programs planned to commence across key targets, that Novo remains on track to list on ASX in Q3 2023, that the ASX dual listing provides a natural fit for Novo to list and grow due to historical investor appetite for mining and exploration companies with projects located in Australia, that Novo believes the listing would provide significant benefits including increased liquidity, access to potential new sources of equity and attracting institutional investment and equity research coverage as we seek to deliver on our growth strategy, that an update on the planned exploration program at Becher to be executed by De Grey is expected to be released before the end Q3 2023, that several pegged exploration licenses within the Balla Balla Project are in the final stages of the approval process and are expected to reach grant in H2 2023, that the Bellary Dome project is under review, with no further drilling planned at this time, and that Novo will continue to engage with Traditional Owners with regards to its activities in a manner that respects all aspects cultural heritage. 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, 2022, which is available under Novo’s profile on SEDAR at www.sedar.com. 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.

    APPENDIX

    Table 1 Becher Project - Aircore drill hole locations in MGA_94 zone 50

    SITE_ID

    COORDSYS

    EASTING

    NORTHING

    RL

    AZIMUTH

    DIP

    TYPE

    DEPTH

    LEASE

    F2060

    MGA94_50

    622225

    7684925

    59.00

    327.000

    -60.000

    AC

    67

    E47/3673

    F2061

    MGA94_50

    622240

    7684900

    59.56

    327.000

    -60.000

    AC

    73

    E47/3673

    F2062

    MGA94_50

    622405

    7685238

    58.34

    327.000

    -60.000

    AC

    55

    E47/3673

    F2063

    MGA94_50

    622420

    7685220

    58.39

    327.000

    -60.000

    AC

    49

    E47/3673

    F2064

    MGA94_50

    622434

    7685197

    58.53

    327.000

    -60.000

    AC

    49

    E47/3673

    F2065

    MGA94_50

    622445

    7685176

    58.48

    327.000

    -60.000

    AC

    49

    E47/3673

    F2066

    MGA94_50

    622458

    7685155

    58.38

    327.000

    -60.000

    AC

    49

    E47/3673

    F2067

    MGA94_50

    622471

    7685134

    58.49

    327.000

    -60.000

    AC

    36

    E47/3673

    F2068

    MGA94_50

    622485

    7685112

    58.62

    327.000

    -60.000

    AC

    49

    E47/3673

    F2069

    MGA94_50

    622499

    7685093

    58.64

    327.000

    -60.000

    AC

    49

    E47/3673

    F2070

    MGA94_50

    622513

    7685071

    58.83

    327.000

    -60.000

    AC

    49

    E47/3673

    F2071

    MGA94_50

    622527

    7685050

    58.87

    327.000

    -60.000

    AC

    49

    E47/3673

    F2072

    MGA94_50

    622541

    7685029

    58.73

    327.000

    -60.000

    AC

    55

    E47/3673

    F2073

    MGA94_50

    622553

    7685009

    58.75

    327.000

    -60.000

    AC

    61

    E47/3673

    F2074

    MGA94_50

    622325

    7685366

    58.83

    147.000

    -60.000

    AC

    25

    E47/3673

    F2075

    MGA94_50

    622312

    7685386

    58.93

    147.000

    -60.000

    AC

    43

    E47/3673

    F2076

    MGA94_50

    622298

    7685408

    59.79

    147.000

    -60.000

    AC

    25

    E47/3673

    F2077

    MGA94_50

    622285

    7685428

    60.39

    147.000

    -60.000

    AC

    31

    E47/3673

    F2078

    MGA94_50

    622271

    7685448

    59.91

    147.000

    -60.000

    AC

    25

    E47/3673

    F2079

    MGA94_50

    622258

    7685472

    59.50

    147.000

    -60.000

    AC

    31

    E47/3673

    F2080

    MGA94_50

    622243

    7685492

    58.39

    147.000

    -60.000

    AC

    43

    E47/3673

    F2081

    MGA94_50

    622233

    7685510

    58.18

    147.000

    -60.000

    AC

    25

    E47/3673

    F2082

    MGA94_50

    622218

    7685532

    58.41

    147.000

    -60.000

    AC

    31

    E47/3673

    F2083

    MGA94_50

    622202

    7685553

    58.17

    147.000

    -60.000

    AC

    25

    E47/3673

    F2084

    MGA94_50

    622188

    7685574

    58.52

    147.000

    -60.000

    AC

    25

    E47/3673

    F2085

    MGA94_50

    622175

    7685595

    58.78

    147.000

    -60.000

    AC

    25

    E47/3673

    F2086

    MGA94_50

    622162

    7685615

    58.70

    147.000

    -60.000

    AC

    25

    E47/3673

    F2087

    MGA94_50

    622148

    7685636

    58.99

    147.000

    -60.000

    AC

    25

    E47/3673

    F2088

    MGA94_50

    622135

    7685657

    59.08

    147.000

    -60.000

    AC

    31

    E47/3673

    F2089

    MGA94_50

    622120

    7685679

    59.33

    147.000

    -60.000

    AC

    25

    E47/3673

    F2090

    MGA94_50

    622106

    7685700

    59.54

    147.000

    -60.000

    AC

    25

    E47/3673

    F2091

    MGA94_50

    622093

    7685721

    59.00

    147.000

    -60.000

    AC

    24

    E47/3673

    F2092

    MGA94_50

    622080

    7685741

    59.10

    147.000

    -60.000

    AC

    24

    E47/3673

    F2093

    MGA94_50

    622065

    7685763

    59.66

    147.000

    -60.000

    AC

    30

    E47/3673

    F2094

    MGA94_50

    624082

    7685021

    59.77

    147.000

    -60.000

    AC

    13

    E47/3673

    F2095

    MGA94_50

    624067

    7685042

    59.75

    147.000

    -60.000

    AC

    16

    E47/3673

    F2096

    MGA94_50

    624054

    7685062

    59.75

    147.000

    -60.000

    AC

    21

    E47/3673

    F2097

    MGA94_50

    624040

    7685083

    59.81

    147.000

    -60.000

    AC

    24

    E47/3673

    F2098

    MGA94_50

    624026

    7685105

    59.96

    147.000

    -60.000

    AC

    8

    E47/3673

    F2099

    MGA94_50

    624013

    7685125

    60.14

    147.000

    -60.000

    AC

    10

    E47/3673

    F2100

    MGA94_50

    624001

    7685144

    60.24

    147.000

    -60.000

    AC

    36

    E47/3673

    F2101

    MGA94_50

    623985

    7685167

    60.55

    147.000

    -60.000

    AC

    30

    E47/3673

    F2102

    MGA94_50

    623974

    7685185

    59.86

    147.000

    -60.000

    AC

    24

    E47/3673

    F2103

    MGA94_50

    623959

    7685208

    59.53

    147.000

    -60.000

    AC

    19

    E47/3673

    F2104

    MGA94_50

    623945

    7685230

    59.52

    147.000

    -60.000

    AC

    19

    E47/3673

    F2105

    MGA94_50

    623931

    7685251

    60.06

    147.000

    -60.000

    AC

    25

    E47/3673

    F2106

    MGA94_50

    623917

    7685272

    60.01

    147.000

    -60.000

    AC

    25

    E47/3673

    F2107

    MGA94_50

    623903

    7685292

    59.53

    147.000

    -60.000

    AC

    25

    E47/3673

    F2108

    MGA94_50

    623889

    7685315

    59.51

    147.000

    -60.000

    AC

    19

    E47/3673

    F2109

    MGA94_50

    623876

    7685334

    59.56

    147.000

    -60.000

    AC

    31

    E47/3673

    F2110

    MGA94_50

    623862

    7685355

    59.80

    147.000

    -60.000

    AC

    31

    E47/3673

    F2111

    MGA94_50

    623849

    7685375

    60.05

    147.000

    -60.000

    AC

    25

    E47/3673

    F2112

    MGA94_50

    623835

    7685396

    59.46

    147.000

    -60.000

    AC

    25

    E47/3673

    F2113

    MGA94_50

    623821

    7685418

    59.48

    147.000

    -60.000

    AC

    19

    E47/3673

    F2114

    MGA94_50

    623808

    7685438

    59.23

    147.000

    -60.000

    AC

    19

    E47/3673

    F2115

    MGA94_50

    623794

    7685459

    59.09

    147.000

    -60.000

    AC

    25

    E47/3673

    F2116

    MGA94_50

    623779

    7685481

    59.02

    147.000

    -60.000

    AC

    19

    E47/3673

    F2117

    MGA94_50

    623767

    7685502

    59.02

    147.000

    -60.000

    AC

    19

    E47/3673

    F2118

    MGA94_50

    623756

    7685526

    59.14

    147.000

    -60.000

    AC

    19

    E47/3673

    F2119

    MGA94_50

    623739

    7685543

    59.04

    147.000

    -60.000

    AC

    25

    E47/3673

    F2120

    MGA94_50

    623726

    7685564

    59.58

    147.000

    -60.000

    AC

    19

    E47/3673

    F2121

    MGA94_50

    623712

    7685585

    59.46

    147.000

    -60.000

    AC

    25

    E47/3673

    F2122

    MGA94_50

    623698

    7685606

    59.51

    147.000

    -60.000

    AC

    25

    E47/3673

    F2123

    MGA94_50

    623684

    7685628

    59.52

    147.000

    -60.000

    AC

    25

    E47/3673

    F2124

    MGA94_50

    623671

    7685647

    59.30

    147.000

    -60.000

    AC

    24

    E47/3673

    F2125

    MGA94_50

    623657

    7685669

    59.88

    147.000

    -60.000

    AC

    25

    E47/3673

    F2126

    MGA94_50

    623643

    7685690

    58.92

    147.000

    -60.000

    AC

    30

    E47/3673

    F2127

    MGA94_50

    623629

    7685715

    59.07

    147.000

    -60.000

    AC

    48

    E47/3673

    F2128

    MGA94_50

    623615

    7685732

    59.17

    147.000

    -60.000

    AC

    42

    E47/3673

    F2129

    MGA94_50

    625214

    7686212

    59.87

    147.000

    -60.000

    AC

    37

    E47/3673

    F2130

    MGA94_50

    625200

    7686233

    59.82

    147.000

    -60.000

    AC

    24

    E47/3673

    F2131

    MGA94_50

    625187

    7686254

    59.94

    147.000

    -60.000

    AC

    24

    E47/3673

    F2132

    MGA94_50

    625173

    7686275

    59.97

    147.000

    -60.000

    AC

    30

    E47/3673

    F2133

    MGA94_50

    625160

    7686296

    59.98

    147.000

    -60.000

    AC

    32

    E47/3673

    F2134

    MGA94_50

    625146

    7686317

    60.13

    147.000

    -60.000

    AC

    48

    E47/3673

    F2135

    MGA94_50

    625131

    7686338

    60.20

    147.000

    -60.000

    AC

    60

    E47/3673

    F2136

    MGA94_50

    620186

    7684249

    58.82

    147.000

    -60.000

    AC

    73

    E47/3673

    F2137

    MGA94_50

    620176

    7684267

    58.72

    147.000

    -60.000

    AC

    70

    E47/3673

    F2138

    MGA94_50

    620148

    7684308

    58.51

    147.000

    -60.000

    AC

    100

    E47/3673

    F2139

    MGA94_50

    620412

    7684784

    59.24

    147.000

    -60.000

    AC

    73

    E47/3673

    F2140

    MGA94_50

    620398

    7684804

    59.25

    147.000

    -60.000

    AC

    100

    E47/3673

    F2141

    MGA94_50

    621040

    7686197

    57.28

    180.000

    -60.000

    AC

    50

    E47/3673

    F2142

    MGA94_50

    621039

    7686220

    57.40

    180.000

    -60.000

    AC

    70

    E47/3673

    F2143

    MGA94_50

    621039

    7686244

    57.49

    180.000

    -60.000

    AC

    70

    E47/3673

    F2144

    MGA94_50

    621040

    7686271

    57.01

    180.000

    -60.000

    AC

    70

    E47/3673

    F2145

    MGA94_50

    620722

    7685987

    59.20

    180.000

    -60.000

    AC

    30

    E47/3673

    F2146

    MGA94_50

    620723

    7686010

    59.47

    180.000

    -60.000

    AC

    19

    E47/3673

    F2147

    MGA94_50

    620722

    7686034

    58.96

    180.000

    -60.000

    AC

    18

    E47/3673

    F2148

    MGA94_50

    620723

    7686060

    58.21

    180.000

    -60.000

    AC

    18

    E47/3673

    F2149

    MGA94_50

    620723

    7686086

    57.99

    180.000

    -60.000

    AC

    10

    E47/3673

    F2150

    MGA94_50

    620723

    7686110

    57.71

    180.000

    -60.000

    AC

    12

    E47/3673

    F2151

    MGA94_50

    620723

    7686135

    57.49

    180.000

    -60.000

    AC

    12

    E47/3673

    F2152

    MGA94_50

    620723

    7686160

    57.25

    180.000

    -60.000

    AC

    12

    E47/3673

    F2153

    MGA94_50

    620723

    7686184

    56.90

    180.000

    -60.000

    AC

    9

    E47/3673

    F2154

    MGA94_50

    620723

    7686209

    57.07

    180.000

    -60.000

    AC

    10

    E47/3673

    F2155

    MGA94_50

    620723

    7686234

    57.14

    180.000

    -60.000

    AC

    13

    E47/3673

    F2156

    MGA94_50

    620723

    7686261

    57.67

    180.000

    -60.000

    AC

    23

    E47/3673

    F2157

    MGA94_50

    620723

    7686286

    57.76

    180.000

    -60.000

    AC

    25

    E47/3673

    F2158

    MGA94_50

    620723

    7686310

    57.54

    180.000

    -60.000

    AC

    18

    E47/3673

    F2159

    MGA94_50

    620723

    7686335

    57.09

    180.000

    -60.000

    AC

    15

    E47/3673

    F2160

    MGA94_50

    620723

    7686360

    56.62

    180.000

    -60.000

    AC

    13

    E47/3673

    F2161

    MGA94_50

    620723

    7686386

    56.60

    180.000

    -60.000

    AC

    16

    E47/3673

    F2162

    MGA94_50

    620723

    7686410

    56.24

    180.000

    -60.000

    AC

    18

    E47/3673

    F2163

    MGA94_50

    620723

    7686435

    56.16

    180.000

    -60.000

    AC

    13

    E47/3673

    F2164

    MGA94_50

    620723

    7686460

    55.96

    180.000

    -60.000

    AC

    21

    E47/3673

    F2165

    MGA94_50

    620723

    7686485

    56.06

    180.000

    -60.000

    AC

    30

    E47/3673

    F2166

    MGA94_50

    620723

    7686510

    56.16

    180.000

    -60.000

    AC

    24

    E47/3673

    F2167

    MGA94_50

    620082

    7686337

    58.47

    180.000

    -60.000

    AC

    19

    E47/3673

    F2168

    MGA94_50

    620083

    7686360

    58.46

    180.000

    -60.000

    AC

    24

    E47/3673

    F2169

    MGA94_50

    620082

    7686386

    58.36

    180.000

    -60.000

    AC

    24

    E47/3673

    F2170

    MGA94_50

    620083

    7686410

    58.10

    180.000

    -60.000

    AC

    24

    E47/3673

    F2171

    MGA94_50

    620083

    7686436

    57.92

    180.000

    -60.000

    AC

    19

    E47/3673

    F2172

    MGA94_50

    620082

    7686462

    57.65

    180.000

    -60.000

    AC

    25

    E47/3673

    F2173

    MGA94_50

    620083

    7686485

    57.60

    180.000

    -60.000

    AC

    19

    E47/3673

    F2174

    MGA94_50

    620083

    7686511

    57.51

    180.000

    -60.000

    AC

    25

    E47/3673

    F2175

    MGA94_50

    620083

    7686536

    57.13

    180.000

    -60.000

    AC

    19

    E47/3673

    F2176

    MGA94_50

    620083

    7686561

    57.02

    180.000

    -60.000

    AC

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    62.67

    147.000

    -60.000

    AC

    25

    E47/3673

    F2447

    MGA94_50

    624438

    7683310

    62.76

    147.000

    -60.000

    AC

    25

    E47/3673

    F2448

    MGA94_50

    624424

    7683333

    62.63

    147.000

    -60.000

    AC

    25

    E47/3673

    F2449

    MGA94_50

    624409

    7683354

    62.03

    147.000

    -60.000

    AC

    25

    E47/3673

    F2450

    MGA94_50

    624396

    7683372

    61.67

    147.000

    -60.000

    AC

    25

    E47/3673

    F2451

    MGA94_50

    624382

    7683395

    61.57

    147.000

    -60.000

    AC

    25

    E47/3673

    F2452

    MGA94_50

    624368

    7683417

    61.52

    147.000

    -60.000

    AC

    19

    E47/3673

    F2453

    MGA94_50

    624354

    7683437

    61.57

    147.000

    -60.000

    AC

    19

    E47/3673

    F2454

    MGA94_50

    624341

    7683458

    61.80

    147.000

    -60.000

    AC

    19

    E47/3673

    F2455

    MGA94_50

    624327

    7683479

    62.15

    147.000

    -60.000

    AC

    19

    E47/3673

    F2456

    MGA94_50

    624313

    7683500

    62.49

    147.000

    -60.000

    AC

    19

    E47/3673

    F2457

    MGA94_50

    624300

    7683520

    62.65

    147.000

    -60.000

    AC

    13

    E47/3673

    F2458

    MGA94_50

    624286

    7683541

    62.53

    147.000

    -60.000

    AC

    25

    E47/3673

    F2459

    MGA94_50

    624272

    7683563

    62.56

    147.000

    -60.000

    AC

    31

    E47/3673

    F2460

    MGA94_50

    624259

    7683583

    62.80

    147.000

    -60.000

    AC

    43

    E47/3673

    F2461

    MGA94_50

    624245

    7683604

    62.60

    147.000

    -60.000

    AC

    31

    E47/3673

    F2462

    MGA94_50

    624231

    7683626

    62.35

    147.000

    -60.000

    AC

    25

    E47/3673

    F2463

    MGA94_50

    624217

    7683646

    62.03

    147.000

    -60.000

    AC

    25

    E47/3673

    F2464

    MGA94_50

    624204

    7683668

    61.51

    147.000

    -60.000

    AC

    25

    E47/3673

    F2465

    MGA94_50

    624188

    7683690

    61.21

    147.000

    -60.000

    AC

    25

    E47/3673

    F2466

    MGA94_50

    624177

    7683708

    60.91

    147.000

    -60.000

    AC

    25

    E47/3673

    F2467

    MGA94_50

    624163

    7683730

    60.87

    147.000

    -60.000

    AC

    25

    E47/3673

    F2468

    MGA94_50

    624148

    7683751

    60.78

    147.000

    -60.000

    AC

    25

    E47/3673

    F2469

    MGA94_50

    624135

    7683772

    60.74

    147.000

    -60.000

    AC

    25

    E47/3673

    F2470

    MGA94_50

    624123

    7683791

    60.81

    147.000

    -60.000

    AC

    31

    E47/3673

    F2471

    MGA94_50

    624108

    7683812

    60.69

    147.000

    -60.000

    AC

    31

    E47/3673

    F2472

    MGA94_50

    624096

    7683835

    60.67

    147.000

    -60.000

    AC

    25

    E47/3673

    F2473

    MGA94_50

    624080

    7683858

    60.64

    147.000

    -60.000

    AC

    25

    E47/3673

    F2474

    MGA94_50

    624068

    7683877

    60.62

    147.000

    -60.000

    AC

    31

    E47/3673

    F2475

    MGA94_50

    624053

    7683897

    60.63

    147.000

    -60.000

    AC

    25

    E47/3673

    F2476

    MGA94_50

    624039

    7683918

    60.66

    147.000

    -60.000

    AC

    31

    E47/3673

    F2477

    MGA94_50

    624025

    7683942

    60.62

    147.000

    -60.000

    AC

    25

    E47/3673

    F2478

    MGA94_50

    624011

    7683962

    60.64

    147.000

    -60.000

    AC

    25

    E47/3673

    F2479

    MGA94_50

    623998

    7683981

    60.67

    147.000

    -60.000

    AC

    25

    E47/3673

    F2480

    MGA94_50

    623984

    7684001

    60.76

    147.000

    -60.000

    AC

    25

    E47/3673

    F2481

    MGA94_50

    623971

    7684022

    60.84

    147.000

    -60.000

    AC

    25

    E47/3673

    F2482

    MGA94_50

    623956

    7684044

    61.03

    147.000

    -60.000

    AC

    25

    E47/3673

    F2483

    MGA94_50

    623942

    7684066

    61.10

    147.000

    -60.000

    AC

    25

    E47/3673

    F2484

    MGA94_50

    623929

    7684086

    61.12

    147.000

    -60.000

    AC

    25

    E47/3673

    F2485

    MGA94_50

    623917

    7684106

    61.40

    147.000

    -60.000

    AC

    31

    E47/3673

    F2486

    MGA94_50

    623903

    7684126

    61.24

    147.000

    -60.000

    AC

    25

    E47/3673

    F2487

    MGA94_50

    623888

    7684148

    60.78

    147.000

    -60.000

    AC

    31

    E47/3673

    F2488

    MGA94_50

    623876

    7684167

    60.45

    147.000

    -60.000

    AC

    25

    E47/3673

    F2489

    MGA94_50

    623861

    7684190

    60.48

    147.000

    -60.000

    AC

    25

    E47/3673

    F2490

    MGA94_50

    623848

    7684210

    60.48

    147.000

    -60.000

    AC

    25

    E47/3673

    F2491

    MGA94_50

    623834

    7684232

    60.53

    147.000

    -60.000

    AC

    19

    E47/3673

    F2492

    MGA94_50

    623820

    7684252

    60.59

    147.000

    -60.000

    AC

    25

    E47/3673

    F2493

    MGA94_50

    623806

    7684273

    60.56

    147.000

    -60.000

    AC

    43

    E47/3673

    F2494

    MGA94_50

    623792

    7684295

    60.49

    147.000

    -60.000

    AC

    25

    E47/3673

    F2495

    MGA94_50

    623779

    7684314

    60.51

    147.000

    -60.000

    AC

    25

    E47/3673

    F2496

    MGA94_50

    623765

    7684336

    60.58

    147.000

    -60.000

    AC

    25

    E47/3673

    F2497

    MGA94_50

    623751

    7684358

    60.49

    147.000

    -60.000

    AC

    31

    E47/3673

    F2498

    MGA94_50

    623741

    7684378

    60.52

    147.000

    -60.000

    AC

    25

    E47/3673

    F2499

    MGA94_50

    623726

    7684400

    60.49

    147.000

    -60.000

    AC

    25

    E47/3673

    F2500

    MGA94_50

    623711

    7684420

    60.46

    147.000

    -60.000

    AC

    25

    E47/3673

    F2501

    MGA94_50

    623694

    7684446

    60.48

    147.000

    -60.000

    AC

    25

    E47/3673

    F2502

    MGA94_50

    623683

    7684462

    60.52

    147.000

    -60.000

    AC

    25

    E47/3673

    F2503

    MGA94_50

    625211

    7682715

    62.30

    147.000

    -60.000

    AC

    25

    E47/3673

    F2504

    MGA94_50

    625198

    7682734

    62.70

    147.000

    -60.000

    AC

    25

    E47/3673

    F2505

    MGA94_50

    625184

    7682755

    63.12

    147.000

    -60.000

    AC

    31

    E47/3673

    F2506

    MGA94_50

    625170

    7682776

    62.67

    147.000

    -60.000

    AC

    25

    E47/3673

    F2507

    MGA94_50

    625156

    7682797

    61.99

    147.000

    -60.000

    AC

    25

    E47/3673

    F2508

    MGA94_50

    625143

    7682817

    61.75

    147.000

    -60.000

    AC

    25

    E47/3673

    F2509

    MGA94_50

    625129

    7682839

    61.41

    147.000

    -60.000

    AC

    31

    E47/3673

    F2510

    MGA94_50

    625116

    7682858

    60.88

    147.000

    -60.000

    AC

    37

    E47/3673

    F2511

    MGA94_50

    625102

    7682879

    60.84

    147.000

    -60.000

    AC

    25

    E47/3673

    F2512

    MGA94_50

    625087

    7682900

    60.84

    147.000

    -60.000

    AC

    37

    E47/3673

    F2513

    MGA94_50

    625076

    7682922

    60.83

    147.000

    -60.000

    AC

    25

    E47/3673

    F2514

    MGA94_50

    625061

    7682943

    60.77

    147.000

    -60.000

    AC

    25

    E47/3673

    F2515

    MGA94_50

    625047

    7682965

    60.88

    147.000

    -60.000

    AC

    25

    E47/3673

    F2516

    MGA94_50

    625034

    7682985

    60.68

    147.000

    -60.000

    AC

    25

    E47/3673

    F2517

    MGA94_50

    625019

    7683006

    60.87

    147.000

    -60.000

    AC

    25

    E47/3673

    F2518

    MGA94_50

    625005

    7683026

    61.01

    147.000

    -60.000

    AC

    25

    E47/3673

    F2519

    MGA94_50

    624995

    7683049

    61.07

    147.000

    -60.000

    AC

    25

    E47/3673

    F2520

    MGA94_50

    624981

    7683070

    60.84

    147.000

    -60.000

    AC

    31

    E47/3673

    F2521

    MGA94_50

    624965

    7683090

    60.92

    147.000

    -60.000

    AC

    19

    E47/3673

    F2522

    MGA94_50

    624951

    7683111

    60.89

    147.000

    -60.000

    AC

    25

    E47/3673

    F2523

    MGA94_50

    624938

    7683130

    61.15

    147.000

    -60.000

    AC

    25

    E47/3673

    F2524

    MGA94_50

    624924

    7683152

    61.32

    147.000

    -60.000

    AC

    25

    E47/3673

    F2525

    MGA94_50

    624910

    7683173

    61.31

    147.000

    -60.000

    AC

    25

    E47/3673

    F2526

    MGA94_50

    624896

    7683194

    61.50

    147.000

    -60.000

    AC

    25

    E47/3673

    F2527

    MGA94_50

    624882

    7683216

    61.79

    147.000

    -60.000

    AC

    25

    E47/3673

    F2528

    MGA94_50

    624869

    7683236

    61.98

    147.000

    -60.000

    AC

    19

    E47/3673

    F2529

    MGA94_50

    624855

    7683257

    62.04

    147.000

    -60.000

    AC

    25

    E47/3673

    F2530

    MGA94_50

    624842

    7683278

    61.93

    147.000

    -60.000

    AC

    25

    E47/3673

    F2531

    MGA94_50

    624829

    7683298

    61.83

    147.000

    -60.000

    AC

    37

    E47/3673

    F2532

    MGA94_50

    624814

    7683319

    61.58

    147.000

    -60.000

    AC

    19

    E47/3673

    F2533

    MGA94_50

    624800

    7683340

    61.26

    147.000

    -60.000

    AC

    19

    E47/3673

    F2534

    MGA94_50

    624786

    7683361

    61.38

    147.000

    -60.000

    AC

    19

    E47/3673

    F2535

    MGA94_50

    624773

    7683382

    60.77

    147.000

    -60.000

    AC

    19

    E47/3673

    F2536

    MGA94_50

    624762

    7683401

    60.80

    147.000

    -60.000

    AC

    25

    E47/3673

    F2537

    MGA94_50

    624747

    7683422

    60.86

    147.000

    -60.000

    AC

    25

    E47/3673

    F2538

    MGA94_50

    624726

    7683454

    60.82

    147.000

    -60.000

    AC

    37

    E47/3673

    F2539

    MGA94_50

    624714

    7683467

    60.83

    147.000

    -60.000

    AC

    31

    E47/3673

    F2540

    MGA94_50

    624704

    7683487

    60.79

    147.000

    -60.000

    AC

    43

    E47/3673


    Table 2 Becher Project – Aircore drilling intercepts >0.1 g/t Au with up to 2 m internal dilution

    SITE_ID

    DEPTH FROM (m)

    DEPTH TO (m)

    WIDTH (m)

    Au (g/t)

    F2061

    21

    24.000

    3.00

    0.10

    F2061

    30

    33.000

    3.00

    0.10

    F2061

    39

    42.000

    3.00

    0.12

    F2068

    48

    49.000

    1.00

    0.12

    F2079

    27

    31.000

    4.00

    0.14

    F2080

    0

    3.000

    3.00

    0.13

    F2090

    24

    25.000

    1.00

    0.15

    F2136

    21

    24.000

    3.00

    0.88

    F2136

    39

    42.000

    3.00

    0.24

    F2137

    18

    21.000

    3.00

    0.16

    F2137

    30

    36.000

    6.00

    0.45

    F2137

    60

    66.000

    6.00

    0.51

    F2138

    21

    27.000

    6.00

    0.20

    F2138

    63

    66.000

    3.00

    0.64

    F2139

    36

    39.000

    3.00

    0.12

    F2140

    36

    42.000

    6.00

    0.17

    F2140

    51

    54.000

    3.00

    0.26

    F2140

    66

    69.000

    3.00

    2.90

    F2143

    15

    21.000

    6.00

    0.26

    F2150

    9

    12.000

    3.00

    0.61

    F2167

    9

    12.000

    3.00

    0.30

    F2217

    3

    6.000

    3.00

    0.14

    F2218

    3

    6.000

    3.00

    0.15

    F2220

    12

    15.000

    3.00

    0.15

    F2245

    21

    24.000

    3.00

    0.23

    F2247

    33

    39.000

    6.00

    0.37

    F2253

    12

    15.000

    3.00

    0.94

    F2253

    24

    27.000

    3.00

    0.22

    F2253

    30

    42.000

    12.00

    0.25

    F2254

    18

    21.000

    3.00

    0.11

    F2268

    30

    33.000

    3.00

    0.10

    F2299

    12

    15.000

    3.00

    0.64

    F2321

    33

    36.000

    3.00

    0.22

    F2341

    9.000

    12.000

    3.00

    0.28


    Table 3 Rock chip results from SE Wyloo.

    SAMPLE_ID

    EASTING

    NORTHING

    sample width m

    Au FA25/MS ppb

    Ag 4A/MS ppm

    Ce 4A/MS ppm

    Cu 4A/MS ppm

    La 4A/MS ppm

    Pb 4A/MS ppm

    Zn 4A/MS ppm

    R06912

    458180

    7482557

    spot

    0.002

    0.1

    2

    8

    1

    9

    19

    R06913

    458162

    7482756

    spot

    0.002

    1.6

    9

    129

    5

    604

    419

    R06914

    458051

    7482860

    spot

    0.005

    0.5

    46

    15

    21

    323

    27

    R06915

    458060

    7482860

    spot

    -99

    0.1

    44

    9

    22

    5

    22

    R06916

    458009

    7482882

    spot

    0.001

    0.5

    24

    213

    10

    21

    732

    R06917

    457974

    7482902

    spot

    0.01

    1.9

    5861

    368

    2756

    798

    470

    R06919

    457987

    7482752

    spot

    -99

    0.1

    100

    20

    49

    39

    1217

    R06920

    457954

    7482688

    spot

    0.002

    1.7

    30

    10815

    12

    182

    2525

    R06921

    457953

    7482690

    spot

    0.005

    7.2

    25

    23590

    11

    188

    1178

    R06922

    457962

    7482681

    1

    0.142

    386.9

    124

    3854

    90

    11714

    16042

    R06923

    457960

    7482678

    0.6

    0.188

    361.0

    11

    541

    6

    5814

    348

    R06924

    457958

    7482676

    1

    0.518

    87.8

    44

    497

    28

    50027

    1654

    R06925

    457998

    7482697

    0.5

    0.005

    66.8

    9

    1361

    4

    11995

    312

    R06926

    457922

    7482663

    3

    0.006

    171.8

    74

    240

    43

    16859

    967

    R06927

    458554

    7482785

    8

    -99

    0.6

    1

    10

    1

    56

    81



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