Pilbara Exploration Update High-Grade Gold and Antimony Targets
Pilbara Exploration Update
High-Grade Gold and Antimony Targets
HIGHLIGHTS
• Novo has advanced Pilbara high-grade gold and gold-antimony prospects which will be the focus for exploration and
drilling in H2 2025.
• Exploration at the Sherlock Crossing Au-Sb prospect has defined a coherent 1.5 km antimony in soil anomaly (at >
15 ppm Sb), with gold anomalism up to 85 ppb Au, with all heritage and compliance approvals now in place for
exploration drilling.
• At the Southeast Wyloo Au-Sb-Ag-Cu Project, plans are in place to complete mapping and rock chip sampling in
preparation for drill program planning.
• Heritage access approval has been obtained for low-impact exploration work at the Teichman gold prospect in the
northern Egina Gold Camp, within the Yandeyarra Reserve. High-grade gold has been defined during historic rock
sampling programs in the area.
• Results from reconnaisance aircore (AC) drilling at Balla Balla delineated broad zones of low-level gold anomalism
(peak 0.114 ppm Au) along the Sholl Shear. Significant results from multielement assays of bottom hole samples and
select drill holes include 96.8 ppm Ag, 182 ppm Sb, 353 ppm Cu, and 71.6 ppm Bi.
• Northern Star Resources Limited (ASX: NST), Novo’s new partner in the Egina Farm-in/Joint Venture arrangement
(following its acquisition of De Grey Mining) has commenced reviewing previous data in planning for future exploration
programs.
Commenting on the Company’s Pilbara exploration activity, Mike Spreadborough, Executive Co-Chairman and Acting Chief
Executive Officer, said “We have been methodical in our assessment of advanced gold and antimony targets over the first half
of 2025, which has set Novo up for a busy second half of exploration.
“We have identified several compelling targets including the Sherlock Crossing prospect, where our highly experienced
geological team has defined a 1.5km antimony anomaly, which we will be a priority for drilling in the short term.
Importantly, the price of gold continues to strengthen and global interest in antimony continues to grow rapidly, which places
Novo in an exciting position as we execute on these programs and complete drilling over the coming months.
“Furthermore, Novo is pleased that Northern Star Resources, Novo’s new partner in the Egina Farm-in and Joint Venture
arrangement (following the completion of its acquisition of De Grey Mining), has commenced reviewing key data for future
exploration work. The Egina JV area covers a large and strategic land position in the prospective Mallina Basin and
importantly, the Egina Gold Project tenements are highly prospective for significant intrusion related deposits and share
similar attributes to the nearby Hemi deposit.”
PERTH, Western Australia, June 19, 2025 -- Novo Resources Corp. (Novo or the Company) (ASX: NVO) (TSX: NVO)
(OTCQX: NSRPF) is pleased to provide an update on its Pilbara-wide exploration completed during H1 2025, including the
Balla Balla Gold Project AC drill program. In the Pilbara the focus for the second half will be on high-grade gold and gold-
antimony exploration projects.
Novo has also been actively exploring its New South Wales projects, undertaking RC drilling at the Tibooburra Gold Project
(results pending) and preparation work, including mapping and geochemical sampling, at the John Bull Gold Project. Drilling is
expected to commence at John Bull in early Q3 2025 (weather and access approval permitting).
Figure 1: Novo Tenure showing the Egina Gold Camp, Balla Balla Gold Project, and gold prospects.
PILBARA EXPLORATION PORTFOLIO
Balla Balla Gold Project
Balla Balla is an early-stage exploration project centred on the Sholl Shear Zone (Figure 1)1. In April 2025, Novo completed
a maiden AC program testing several prospects over a 10 km trend, targeting the Sholl Shear Zone and interpreted splay faults
under shallow cover.
A total of 187 AC holes for 5,996 m were completed on regionally spaced lines varying from 640 m to 2.8 km apart ( Figure 2).
Hole depths range from 5 m to 79 m with cover varying between 5 m to 35 m depth (average 22 m). Samples were collected as
3 m composites for the entire hole and assayed for gold using fire-assay, and a bottom of hole (BOH) sample was taken and
assayed for gold and a 52-multielement suite using fire assay and four-acid digest. Seven holes have been selected with
intense sulphide mineralisation, quartz veining or strong alteration for multi-element assaying with results from two holes
pending.
Figure 2: AC collar locations on interpreted regional geology and structure
Peak results from broad zones of low-level anomalism associated with the Sholl Shear includes 114 ppb Au ( Figure 3 ).
However, numerous additional anomalies have been defined by BOH and select hole multielement assay. These include:
• 1 m @ 96.8 ppm Ag and 8.1 ppm Sb from 28 m in YUA0113 (BOH sample)
• 1 m @ 182 ppm Sb and 6.72 ppm Ag from 44 m in YUA0054 (BOH sample – multielement assay results for entire
hole pending)
• Anomalous Bi, Sb and Te from 57 m to 78 m in YUA0161, with peak results of 71.6 ppm Bi , 47.3 ppm Sb, and 6.23
ppm Te (multielement assay for entire hole)
• Anomalous Mo, Sb, Au, Te from 45 m to 74 m in YUA0162, with peak results of 70 ppb Au, 14.50 ppm Bi, 99.7 ppm
Mo, 11.0 ppm Sb and 11.8 ppm Te (multielement assay for entire hole)
• 1 m @ 299 ppm Cu and 24.7 ppm Sb from 43 m in YUA0182 (BOH sample)
• 12 m @ 277 ppm Cu, 303 ppm Zn and 11.5 ppm Sb from 30 m in YUA0185 (multielement assay for entire hole)
Refer to Appendix 1 for collar details and peak gold results. Refer to Appendix 2 for end of hole and downhole multielement
assays.
Peak Au-Ag-Bi-Sb-Cu-Mo is present at Ramquarry and south Babbage along the Sholl Shear and are related to sub-
massive pyrite mineralisation, strong silica-chlorite alteration an/or zones of intense quartz veining, indicating significant
hydrothermal activity. Peak silver values are related to an interpreted fold axis in regional magnetics and porphyritic mafic
intrusion.
Further work, once all results are returned, will include assaying full holes for the multielement assay suite in anomalous
areas, spectral imaging on selected intervals to determine alteration mineralogy and rock composition, and petrology on
selected samples. After the full results are returned and interpreted along with other high-level studies, follow-up and
extensional drilling will be planned if warranted.
Figure 3: AC collar locations over regional geological interpretation and airborne magnetics, showing maximum downhole gold
values
Sherlock Crossing
Novo completed a soil sampling program to extend coverage of an antimony in soil anomaly and high order stream sediment
anomaly, to the southwest of the Sherlock Crossing historic workings area ( Figure 4). Samples were collected on a 40 m x 80
m grid.
Results define a strong and coherent antimony anomaly extending over 1.5 km in strike length, and a width of 200 m. Peak
soil sample results include 85 ppb Au and 48.3 ppm Sb (Figure 4). Anomalous antimony occurs in a strongly altered and
sheared ultramafic unit which sporadically outcrops over 2.3 km strike , trending under colluvial cover to the south. Rock
samples from the highly sheared and altered ultramafic, returned results of up to 0.22% Sb without significant quartz veining.
Refer to Appendix 3 for all soil sample results, and Appendix 4 for all rock sample results.
All heritage and compliance approvals have been obtained to enable a maiden RC drilling program adjacent to the historical
Sherlock Crossing workings to test promising gold and antimony mineralisation, where targeted rock chip sampling yielded
grades of up to 4.7% Sb and 146.7 g/t Au 2.
Drilling is planned for H2 2025. Meanwhile, detailed mapping and sampling will continue to assist in targeting the core of the
soil anomaly to the southwest.
Figure 4: Sherlock Crossing, showing extended soil anomaly > 15 ppm Sb to the SW of the proposed first pass drilling area
at the Clarke Mine2
Egina Gold Camp – Egina Earn-in/JV (Northern Star earning a 50% interest)
Northern Star Resources Limited (ASX: NST) recently finalised its acquisition of De Grey Mining (ASX: DEG). The NST group
has commenced reviewing previous data in planning for future exploration programs in the Becher and surrounding area .
In June 2023, Novo entered into an earn-in and joint venture agreement with De Grey for the Company’s Becher Project and
adjacent tenements within the Egina Gold Camp . De Grey exceeded the A$7 million minimum expenditure commitment
under the earn-in in September 2024 and is required to spend a further A$18 million by June 30, 2027, to earn a 50% interest
in the Becher Project at which time an unincorporated joint venture would be established.3
Egina is located near the 13.6 Moz Hemi Gold Project 4. No assurance can be given that a similar (or any) commercially viable
mineral deposit will be determined at Novo’s Egina Project.
Egina Gold Camp - Tabba Tabba Shear Corridor
Exploration of the Tabba Tabba Shear Corridor, part of Novo’s Egina Gold Camp, progressed in 2024, with first pass surface
geochemistry and mapping now covering the central part of the Corridor. Novo has prioritised obtaining access to the
Teichman prospect (Figure 5), located within the Yandeyarra Reserve5, where previous explorers obtained high-grade surface
results from several prospects over 2.3 km strike, including 25.5 g/t Au and 32.3 g/t Au from rock samples 6.
Approval to carry out low-impact exploration activities on parts of Novo’s tenements within the Yandeyarra Aboriginal Reserve
has now been achieved. The proposed work will comprise up to ten days of mapping and targeted rock sampling. Only limited
modern exploration has been undertaken in the Yandeyarra Reserve.
Figure 5: Main prospects of the Tabba Tabba Shear Corridor
Southeast Wyloo
During H2 2024, Novo completed a review of the Sb-Au potential across its Pilbara ground holding. In addition to Sherlock
Crossing, Southeast Wyloo was also ranked highly for antimony potential and includes two, 2 km-strike high-order antimony
(± gold) stream sediment anomalies, where reconnaissance rock chip sampling completed in mid-2023 yielded peak results of
387 g/t Ag, 2.4% Cu, 0.38%, and 0.52 g/t Au, 5.0% Pb and 1.6% Zn 7.
Plans are in place to complete mapping and rock chip sampling during H2 2025 in preparation for drill program planning.
Authorised for release by the Board of Directors.
CONTACT
Investors:
Mike Spreadborough
+61 8 6400 6100
North American Queries:
Leo Karabelas
+1 416 543 3120
Media:
Cameron Gilenko
+61 466 984 953
QP STATEMENT
Mrs. Karen (Kas) De Luca (MAIG), is the qualified person, as defined under National Instrument 43-101 Standards of
Disclosure for Mineral Projects , responsible for, and having reviewed and approved, the technical information contained in this
news release. Mrs De Luca is Novo’s General Manager Exploration.
JORC COMPLIANCE STATEMENT
New Exploration Results
The information in this news release that relates to exploration results at Novo’s Pilbara tenure is based on information
compiled by Mrs De Luca, who is a full-time employee of Novo Resources Corp. Mrs De Luca is a Competent Person who is a
member of the Australian Institute of Geoscientists. Mrs De Luca has sufficient experience that is relevant to the style of
mineralisation and the type of deposits under consideration and to the activity being undertaken to qualify as a Competent
Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves'. Mrs De Luca consents to the inclusion in the report of the matters based on her information in the form and
context in which it appears.
Previous Exploration Results
The information in this news release that relates to previously reported exploration results at Novo’s Pilbara tenure is extracted
from:
a) Novo’s ASX announcement entitled Pilbara Exploration Update released to ASX on 10 December 2024;
b) Novo’s ASX announcement entitled Nunyerry North High-Grade Gold Zone Extended released to ASX on 30 August 2024;
and
c) Novo’s ASX announcement entitled Evaluation of Pilbara Antimony-Gold Potential Generates Positive Results released to
ASX on 12 September 2024,
each of which is available to view at www.asx.com.au. The Company confirms that it is not aware of any new information or
data that materially affects the information included in the original market announcements and that all material assumptions
and technical parameters underpinning the estimates in the market announcements continue to apply and have not materially
changed. The Company confirms that the form and context in which the competent persons findings are presented have not
been materially modified from the original market announcements.
FORWARD-LOOKING STATEMENTS
Some statements in this news release may contain “forward-looking statements” within the meaning of Canadian and
Australian securities law and regulations. In this news release, such statements include but are not limited to planned
exploration activities and the timing of such. 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, 2024 (which is available under Novo’s profile on SEDAR+ at
www.sedarplus.ca and at www.asx.com.au) in the Company’s prospectus dated 2 August 2023 which is available at
www.asx.com.au. 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.
_______________________________________
1 Refer to Novo’s ASX announcement dated 20 March 2025 - Aircore drilling to commence at Balla Balla.
2 Refer to Novo’s ASX announcement dated 10 December 2024 - Pilbara Exploration Update
3 Refer to Novo’s ASX announcement dated 10 October 2024 – De Grey reaches minimum spend at Novo’s Egina Gold Project
4 Refer to De Grey’s ASX Announcement, Hemi Gold Project mineral Resource Estimate (MRE) 2024, dated 14 November
2024
5 Refer to Novo’s ASX announcement dated 10 December 2024 - Pilbara Exploration Update
6 Refer to Novo’s ASX announcement dated 30 August 2024 – Nunyerry North High-Grade Gold Zone extended and Egina Gold
Camp exploration targets advanced
7 Refer to Novo’s ASX announcement dated 12 September 2024 – Evaluation of Pilbara Antimony-Gold Potential Generates
Positive Results
ABOUT NOVO
Novo is an Australian based gold explorer listed on the ASX and the TSX focussed on discovering standalone gold and copper
projects with > 1 Moz development potential. Novo is an innovative gold explorer with a significant land package covering
approximately 5,500 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 above, Novo is part of two prospective
farm in agreements in New South Wales.
Novo’s key project area in the Pilbara is the Egina Gold Camp, where Northern Star Resources Limited (ASX: NST) is farming-
in to form a JV at the Becher Project and surrounding tenements through exploration expenditure of A$25 million within 4
years for a 50% interest. The Becher Project has similar geological characteristics as Northern Star’s 12.7 Moz Hemi
Project#. Novo is also advancing gold exploration south of Becher in the Egina Gold Camp, part of the Croydon JV (Novo 70%:
Creasy Group 30%). Novo continues to undertake early-stage exploration elsewhere across its Pilbara tenement portfolio.
Novo has also formed a lithium joint venture with SQM in the Pilbara which provides shareholder exposure to battery metals.
Novo has recently strengthened its high-quality, Australian based exploration portfolio by adding the TechGen John Bull Gold
Project in the New England Orogen of NSW, and Manhattan Tibooburra Gold Project in the Albert Goldfields in northwestern
NSW. Both projects demonstrate prospectivity for significant discovery and resource definition and align with Novo’s strategy
of identifying and exploring projects with > 1 Moz Au potential. These high-grade gold projects compliment the landholding
consolidation that forms the Toolunga Project in the Onslow District in Western Australia.
Novo has a significant investment portfolio and a disciplined program in place to identify value accretive opportunities that will
build further value for shareholders.
Please refer to Novo’s website for further information including the latest corporate presentation.
#Refer to De Grey’s ASX Announcement, Hemi Gold Project mineral Resource Estimate (MRE) 2024, dated 14 November 2024. No assurance can be given that a similar (or
any) commercially viable mineral deposit will be determined at Novo’s Becher Project.
Appendix 1: Collar locations for Balla Balla AC program with peak downhole Au (ppb) listed. All coordinates are in
GDA2020, zone 50.
Hole ID Type Depth Easting (m) Northing (m) Dip Azimuth (grid) Peak Au (ppb)
YUA0001 AC 21 601,556 7,717,479 -60 140 3
YUA0002 AC 22 601,525 7,717,523 -60 140 4
YUA0003 AC 21 601,488 7,717,559 -60 140 2
YUA0004 AC 13 601,457 7,717,601 -60 140 2
YUA0005 AC 14 601,423 7,717,640 -60 140 1
YUA0006 AC 16 601,392 7,717,673 -60 140 1
YUA0007 AC 13 601,853 7,718,124 -60 140 1
YUA0008 AC 15 601,821 7,718,161 -60 140 1
YUA0009 AC 13 601,787 7,718,203 -60 140 4
YUA0010 AC 7 601,754 7,718,243 -60 140 -1
YUA0011 AC 5 601,725 7,718,279 -60 140 1
YUA0012 AC 42 602,246 7,718,644 -60 140 19
YUA0013 AC 36 602,217 7,718,684 -60 140 3
YUA0014 AC 17 602,181 7,718,723 -60 140 5
YUA0015 AC 16 602,153 7,718,762 -60 140 10
YUA0016 AC 16 602,122 7,718,798 -60 140 3
YUA0017 AC 21 602,549 7,719,288 -60 140 4
YUA0018 AC 21 602,515 7,719,327 -60 140 5
YUA0019 AC 60 602,484 7,719,368 -60 140 11
YUA0020 AC 40 602,452 7,719,407 -60 140 5
YUA0021 AC 23 602,418 7,719,446 -60 140 17
YUA0022 AC 18 602,384 7,719,483 -60 140 2
YUA0023 AC 27 603,830 7,719,250 -60 140 14
YUA0024 AC 24 603,799 7,719,286 -60 140 11
YUA0025 AC 30 603,768 7,719,326 -60 140 17
YUA0026 AC 51 603,730 7,719,371 -60 140 5
YUA0027 AC 30 603,700 7,719,408 -60 140 20
YUA0028 AC 30 603,669 7,719,447 -60 140 6