NVO - Novo Resources Corp.

[System]

Novo Resources Corp. is a company incorporated in British Columbia and listed on the TSX and OTCQX.

It is a gold explorer with a significant portfolio of tenements in the Pilbara region of Western Australia (covering approximately 10,500 square km), including the Company’s flagship Becher gold project located within the Egina Gold Camp project, and in the Bendigo region of Victoria.

Novo was incorporated on 28 October 2009 and changed its name to Novo Resources Corp. on 27 June 2011. It is engaged primarily in the business of evaluating, acquiring, and exploring natural resource properties with a focus on gold.

Novo commenced acquiring interests in tenements in the Pilbara region of Western Australia in early 2011 and expanded to tenements in the Bendigo region of Victoria in 2020.

Novo has completed a systematic assessment across their large Pilbara landholding in Western Australia to identify the most prospective exploration opportunities, with a key focus on the Egina Gold Camp (Egina). The Company's early-stage reconnaissance work at Egina successfully identified the Becher project as highly prospective and a high priority and aircore drilling commenced in late 2022 and continued into 2023. Becher is located only 28 km from De Grey Mining’s (ASX: DEG) Hemi deposit which forms part of De Grey’s 11.7 Moz Mallina Gold Project.

It is anticipated that NVO will list on the ASX during September 2023.

NOVO Resources – Corp.

novoresources.com

 

[Dona Ferentes]

Listing date	14 September 2023 #
Company contact details	https://www.novoresources.com Ph: +61 8 6117 9400
Principal Activities	Novo is a Canadian incorporated company listed on the TSX and OTCQX. The Company is an innovative gold explorer.
Issue Price	AUD 0.20
Issue Type	Chess Depository Interests
Security code	NVO
Capital to be Raised	$7,500,000
Expected offer close date	01 September 2023
Underwriter	Not underwritten. Argonaut PCF Limited (Lead Manager)

 

[Dona Ferentes]

ahead of time .....

Novo opened at 11am, start at 22c and now 25c.

 

[debtfree]

A nice move up this morning after an announcement.

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[Dona Ferentes]

A nice move up this morning after an announcement.

didn't last ... coming up for a year on the bourse and the mood is underwhelming.

.

EXPLORATION DRILLING AT BECHER PROJECT RECOMMENCES​

HIGHLIGHTS
• Follow-up aircore and reverse circulation drilling programs have been commenced by De Grey Mining at Novo’s flagship Becher Project, using two drill rigs. The focus is on testing gold and base metal mineralisation at the priority Heckmair and Lowe Prospects.
• Becher is part of the Egina Joint Venture, where major ASX-listed WA gold explorer and developer De Grey is earning-in through a minimum spend of A$7 million to December 2024, as part of a required A$25 million spend over 4 years to earn 50% of the joint venture. De Grey is the manager of the Egina Joint Venture.
• Becher lies adjacent to De Grey’s 12.7M oz Hemi Gold Project.
• Exploration completed to date by Novo and De Grey at Becher has identified both intrusion-hosted and structurally controlled gold mineralisation similar in nature to that at the Hemi deposit.
• De Grey plans to undertake a further 28,000 m of combined AC and RC drilling, adding to the ~10,500 m already completed at Becher in Q4 2023.
• Separately, drilling by Novo at Nunyerry North, where a ~4,000 m RC drill program commenced in late May, is advancing with the program expected to be completed in early July and assay results received later in the month.
• Following completion of drilling at Nunyerry North, exploration at key Pilbara targets will shift to either AC drilling at the Balla Balla Gold Project or RC drilling in the Karratha District gold and gold-copper (+-platinum- palladium) targets, dependent on the timing of heritage surveys and final approvals, which are expected in late July 2024.