Novo Resources Corp Unveils High-Grade Gold Drill Intercepts & Exceeds $500K Farm-In Spend at Tibooburra Project
Wednesday, July 9, 2025
at
8:20 am
Novo Resources Corp reports strong gold drilling results at its Tibooburra Project in NSW. The Clone prospect revealed near‐surface, continuous high-grade mineralisation over a 300m strike. The company also exceeded its initial farm-in spend, paving the way for follow-up drilling to extend these promising targets.
Novo Resources Corp has reported strong preliminary results from its reverse circulation drilling program at the Tibooburra Gold Project in northwestern New South Wales. The drilling campaign at the Clone prospect involved 14 holes for 1,984 meters, testing approximately 500 meters along strike. Among the significant intercepts were 12 meters at 5.90 grams per tonne gold, including a narrow interval of 5 meters reaching 13.74 grams per tonne, and another 17-meter intercept averaging 2.40 grams per tonne gold with a 9-meter section grading 4.14 grams per tonne. These findings help to fill a 180-meter gap in prior drilling conducted by Manhattan Corporation Limited and establish a consistent, near-surface, north-plunging high-grade gold shoot along a 300-meter strike.
In addition to these results, the company’s detailed structural and geological mapping has highlighted a compelling trend associated with a west-dipping reverse fault, which appears to control the high-grade mineralisation. The Clone prospect’s defined mineralisation and its shallow plunge toward the north suggest that the high-grade zone remains open in that direction. Meanwhile, the New Bendigo prospect, located about 7 kilometers southeast, has also shown promising historical drilling results that further support the potential of a gold-bearing system along a broader 22-kilometer historic strike of the project.
The company has successfully exceeded its initial exploration expenditure of $500,000 under the terms of its farm-in agreement with Manhattan Corporation Limited, demonstrating its commitment to advancing the project. Looking ahead, Novo Resources plans follow-up reverse circulation drilling to test the northern extension of the high-grade shoot at Clone. Planned future work includes downhole imaging for improved structural understanding, core re-logging at New Bendigo, and systematic mapping to better delineate mineralised trends across the project area.
The news offers a bullish note for investors as the high-grade intercepts, demonstrated continuity of grade and thickness, and strategic follow-up exploration provide a positive outlook for the Tibooburra project’s potential. However, caution is warranted given that the project remains in an early exploration phase. Structural complexities, the inherent risks of preliminary drilling, and the need for further verification mean that while the results are encouraging, the pathway to a fully defined and commercially viable deposit remains subject to exploration risks.