High Grade GOLD Anomaly Extended at John BULL IN Preparation FOR Drilling
Head Office
Level 3, 46 Ventnor Avenue,
West Perth WA 6005
+61 8 6400 6100
www.novoresources.com
Vancouver: 05 May 2025
Perth: 06 May 2025
HIGH GRADE GOLD ANOMALY EXTENDED AT
JOHN BULL IN PREPARATION FOR DRILLING
HIGHLIGHTS
• Detailed mapping, soil sampling and rock chip sampling recently completed by Novo at the
John Bull Gold Project follows previously reported outstanding results by Tech Gen Metals
Limited (TechGen) (ASX: TG1)1.
• Novo soil sampling extended the known > 100 ppb Au anomaly to ~ 1.5 km strike with a
peak soil result of 1.59 g/t Au.
• Novo rock chip sampling returned peak results of 67.9 g/t Au and 29 g/t Au from sheeted
quartz veins in NW and NE trending minerali sed structural zones, demonstrating potential
for high-grade mineralisation.
• Targets have been defined by high order soil anomalism and including sheeted quartz veins
within preferred lithology, fault zones with intense sericite alteration and brecciation ; and
an Induced Polarisation geophysical anomaly co-incident with a major structure.
• A ~1,500 m RC drill program is planned to commence in June 2025 (drill rig availability
dependent), with four key targets identified.
• The recent exploration campaign has significantly enhanced the understanding of the
mineral system and strongly supports presence of an Intrusion Related Gold System (IRGS)
model.
• Element zonation suggests a proximal Sn-Bi-As core centred on a porphyritic intrusion
mapped in the SW of the project area, flanked by intermediate Au-Mo-Cu-Sb-Te zones, and
surrounded by the distal halo of sheeted veins with an Au-As-Sb-W association.
• Peak results from multielement sampling include 0.49% W, 780 ppm Sb, 5.6 ppm Mo and
14.9 ppm Bi.
Mike Spreadborough, Executive Co -Chairman and Acting Chief Executive Officer, said: “The
recent exploration mapping and sampling campaign at John Bull has provided some
exceptional drill targets, which we are excited to test through a ~1,500 m RC program in June.”
“Sourcing drilling contractors is underway and governmental approvals for the drilling
campaign are eagerly awaited. Detailed mapping has delineated a large gold system
interpreted to be associated with a porphyry in the SW portion of the John Bull tenement.
Future work will expand on mapping and sampling to allow targeting of the sheeted -vein
system and porphyry-related mineral systems. We look forward to providing an update on the
drilling commencement date in the next few weeks.”
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PERTH, WEST AUSTRALIA - Novo Resources Corp. (Novo or the Company) (ASX: NVO) (TSX:
NVO) (OTCQ B: NSRPF) is pleased to announce results from the exploration campaign at the
John Bull Gold Project (John Bull) located in the New England District of NSW ( Figure 1), where
Novo ha s a farm -in arrangement with TechGen Metals Limited (ASX: TG1) (TechGen). The
program was designed to guide effective targeting for RC drilling scheduled in late June (drill
rig availability dependent) and to understand the controls on mineralisation.
Figure 1: Location of the John Bull Gold Project, in northeastern NSW.
The agreement with TechGen grants Novo an option to acquire an 80% interest in the Mick ’s
Bull tenement (EL9121) and a 70% interest in the John Bull tenement (EL8389), following two
tranches of exploration work and pre-determined expenditure. Refer to Novo’s 13 December
2024 news release titled “Novo strengthens portfolio with two High-Grade gold projects in NSW,
Australia” for the detailed terms of the agreement with TechGen.
John Bull is an advanced exploration opportunity, located approximately 49 km WNW of
Grafton in the New England district of NSW. The tenure consists of two tenements and covers
some 32 sq km ( Figure 1). The project lies within the New England Orogen, a region known to
host multiple gold and polymetallic mineral systems, including orogenic, intrusion-related, and
skarn-style deposits.
The recent field campaign at John Bull included detailed outcrop mapping (Figure 2), rock
chip sampling, and infill and step out soil sampling to be used for characterising local
geology, identifying new targets, and investigating current high -value prospects for
potential depth or strike extensions and zones of higher-grade mineralisation.
Multiple new targets warrant drill testing. Novo is planning an initial RC drill program of ~ 1,500
m, scheduled to commence in late June (drill rig availability dependent) once all compliance
approvals have been received. Drilling will target dense sheeted quartz vein occurrences around
the main John Bull historic sluicing area , in addition to three newly developed and untested
targets over 1 km of strike highlighted during the recent mapping and surface sampling
campaign.
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Figure 2 Drone footage of mapping activities at John Bull
Results from Recent Mapping, Soil and Rock Chip Sampling
In February 2025, Novo undertook a n intensive campaign comprising geochemical surface
sampling and detailed mapping across the John Bull tenement . The primary objective of the
field program was to refine the geological understanding and target development ahead of
planned drilling, building on previous work completed by TechGen1.
Based on recent mapping, the John Bull prospect represents a structurally controlled Intrusion
Related Gold System. Host rocks including g reywacke, fine arenite, shale, siltstone, and chert
are intruded by several Triassic felsic dykes . Sedimentary rocks are tightly folded into a NW
plunging ‘M’ -shaped hinge zone which crosses the central part of the prospect (Figure 3).
Generally, gold mineralisation is hosted in a very late stage moderately dipping NE -trending
sheeted quartz–sulphide vein system, associated with an As–Sb–W geochemical signature. The
highest density of sheeted veins and the focus of much of the historic hydraulic sluicing is
hosted by an ~80 m thick fine arenite -siltstone unit. This zone is considered the most
favourable lithology and is the priority target for drill testing in the upcoming program.
Stratigraphy is offset by regional-scale NW-trending sinistral faults that control the geometry of
the Au-As soil anomaly and also represent priority targets. One of these NW trending shears in
the central target area has intense sericite alteration and carries grades of up to 29 g/t Au (in
recent Novo sampling (see Appendix 1 ). However, the highest gold grades occur in a NE -
trending mineralised breccia mapped over 60 m strike , aligned with historic shafts, which
crosscuts stratigraphy and has returned rock chip assays up to 67.9 g/t Au, plus several assay
results > 5 g/t Au (Figure 4).
The sheeted vein system is proximal to a porphyry intrusion in the SW part of the John Bull
tenement, which has an intense hornfels halo. Geochemical zonation as defined by limited
multielement soil geochemistry shows an interpreted proximal Sn–Bi–As enriched core over the
porphyry, an intermediate Au –Mo–Cu–Sb–Te zone and a distal Au –As–Sb–W halo (sheeted vein
zone), indicating zoned metal dispersion.
Several significant (> 50 ppb) gold results were returned from 315 soil samples; with a peak result
of 1.59 g/t Au (see Appendix 2). Infill soil sampling in the north supports the current gold-in-soil
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anomalism, previously delineated by TechGen – although remains patchy. Refer to Appendix 2
for results.
Figure 3 Regional geological interpretation map of the John Bull Project over LiDARTM.
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Figure 4 John Bull Main Workings interpreted geology showing preferred stratigraphy and vein arrays
where outcrop can be identified. Refer to Appendix 1 for rock chip results
Key Targets and Planned Drill Program
Four target areas have been confirmed for RC drill follow up over 1 km strike length. Drilling will
be prioritised in areas with structurally and lithological favourable zones defined by strong Au –
As soil anomalies, vein density, and host rock contrasts.
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• John Bull Main – three target areas are planned for testing within this larger zone:
o John Bull Breccia Zone - a NE trending zone approximately 100 m long where
recent work yielded high grade rock chip samples including 67.9 g/t Au and
three other samples > 5 g/t Au. This linear trend included two historic shafts.
Refer to Appendix 1 for all results.
o John Bull Shear – where recent mapping has highlighted strong sericite
alteration along a broad NW trending zone of shearing and recent rock chip
samples of up to 29 g/t Au. Refer to Appendix 1 for all results.
o John Bull Sluicing Area - where recent mapping has delineated an E -W target
zone in a fine sandstone-dominant unit, which was the focus for the main historic
sluicing and with the broadest zone of high quartz vein density.
• John Bull South – includes high grade soil anomalies up to 4.77 g/t surrounding and
partly overlapping a monzodiorite intrusion, coupled with a large area of historic sluicing
for gold. Refer to Appendix 2 for all results.
• Hills Creek West – A coincident IP conductivity anomaly and soil geochemical
anomaly with peak value of 2.1 g/t Au1 occur along a regional NW trending fault.
• Digger’s North – a very broad soil anomaly occurs where limited outcrop is present, in
an area north of the previous drilling. Peak soil results include 10.0 g/t Au 1 and soil
geochemical anomalies are linear along the major NW trending faults within the broader
N-S mineralised corridor.
The initial drill program of ~ 1,500 m is planned to commence in late June (drill rig availability
dependent) with drilling planned to approximately 140 m depth.
Historic Exploration
Historic mining for gold at John Bull included several shafts and large areas of hydraulic sluicing
of elluvial and alluvial gold . Soil sampling completed by TechGen highlighted an exceptionally
high-order gold anomaly over 900 m long and 250 m wide at > 100 ppb Au with seven samples
reporting > 4.5 g/t Au1.
TechGen also completed 17 RC holes for 2,249.5 m (2022 and 2023) with an effective test to ~120
m vertical depth. Peak results from four approximately 100 m spaced E -W sections of shallow
RC drilling over 320 m strike (Figure 5) include (Figure 6):
• 94 m @ 0.95 g/t Au from 4 m including 66 m @ 1.14 g/t Au, and
17 m @ 1.08 g/t Au from 109 m (JBRC0006)1
• 68 m @ 1.00 g/t Au from surface including 23 m @ 2.02 g/t Au (JBRC0001)1
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Figure 5: John Bull drill hole locations, soil gold geochemical results and historical soil sampling
locations. The location of drill Section A-A’ (see below) is also noted.
Figure 6 John Bull - E-W Drill section (A-A’ on Figure 5) showing 130 m wide mineralisation and internal
higher grades. System open below 120 m depth. Note, wider intercepts have no restriction on internal
dilution.
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All drill sections remain open at depth and the system remains open along strike. An Induced
Polarisation (IP) geophysical survey over part of the target also produced anomalies over known
mineralisation.
The above historical results were initially reported by TechGen and have been subsequently
reported by Novo in accordance with the JORC Code in its announcment released to ASX on 13
December 2024 – Novo strengthens portfolio with two high -grade gold projec ts in NSW,
Australia
No assurance can be given that Novo will achieve similar results from its upcoming drilling
campaign to those disclosed in this section.
Future Work
Exploration activities after the Phase 1 drilling program will include:
• Follow-up drilling pending results from Phase 1 including infill and extensional drill
testing and diamond drilling to depth on selected holes.
• Focus on porphyry related targets to the west and SW of the John Bull sheeted vein
arrays with possible geophysical surveys and selected drilling.
Further Exploration Update
Exploration work is ongoing in Western Australia and in New South Wales, and below is a
summary of the current progress:
• Exploration drilling has been completed at the Balla Balla Gold Project with results
pending2; and
• Exploration drilling has commenced at the Tibooburra Gold Project2.
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. M rs De Luca is Novo’s
General Manager Exploration.