Novo Resources Corp Delivers Maiden RC Drilling Success at Tibooburra Gold Project, Exceeding $500K Farm-In Spend and Uncovering High-Grade Gold Intercepts
Wednesday, July 9, 2025
at
8:20 am
Novo Resources Corp reports strong maiden RC drilling results at its Tibooburra Gold Project. High-grade, near-surface intercepts along a continuous 300 m strike highlight promising exploration potential and future follow-up drilling, fortifying prospects for growth in this historic gold field.
Novo Resources Corp has reported highly encouraging results from its maiden reverse circulation (RC) drilling campaign at the Tibooburra Gold Project located in northwestern New South Wales. The drilling program, completed in May 2025 at the Clone prospect, involved 14 RC holes with a total drilled length of 1,984 meters over a 500-meter strike section. Notably, one drill hole returned an intercept of 12 meters averaging 5.90 grams per tonne of gold, including a narrower section of five meters at 13.74 grams per tonne. Another significant intercept registered 17 meters at 2.40 grams per tonne, with nine meters showing 4.14 grams per tonne. These results corroborate earlier drilling by Manhattan Corporation Limited, indicating a near-surface, north-plunging high-grade gold shoot that extends over a 300-meter strike length.
The company’s detailed geological mapping and sampling programs helped identify a coherent gold-in-soil anomaly over an area approximately 600 meters long and up to 250 meters wide. Historical drill results combined with current intercepts suggest significant continuity in both grade and width of mineralization, with indications that high-grade zones remain open to the north. Alongside the Clone prospect, the New Bendigo prospect, some 7 kilometers away, exhibits similar structural characteristics, supported by previous high-grade intercepts from various drilling campaigns. Novo’s systematic approach includes plans for down-hole imaging and core relogging at New Bendigo to refine the understanding of geological controls.
In addition to the promising technical drill results, Novo Resources Corp has met and exceeded the minimum required exploration spend of US$500,000 stipulated in its joint venture agreement with Manhattan Corporation Limited. This achievement not only satisfies immediate contractual milestones but also underpins Novo’s commitment to advancing the exploration and interpretation of its extensive tenement package, which covers historic goldfields over a 22-kilometer strike.
From a market sentiment perspective, the news carries a bullish undertone for investors. The successful demonstration of high-grade continuity and the expansion of a structurally favorable mineral system provide tangible technical evidence of potential future mineral resource development. The company’s proactive approach to further drilling and geological analysis is likely to boost investor confidence in the project’s long-term value. Conversely, the bearish view might focus on the inherent risks of early-stage exploration, including the challenges involved in conclusively defining a commercially viable deposit despite the promising drill results, as well as the reliance on historic data and outstanding follow-up work to fully delineate the high-grade shoot.