June 23, 2025

Novo Resources - Pilbara Exploration Update: Aircore Results, New Gold-Antimony Targets, Egina JV Update With Northern Star Resources

19 minutes

In this KE Report company update, I’m joined by Mike Spreadborough, Executive Co-Chairman, and Kas De Luca, General Manager of Exploration at Novo Resources (TSXV: NVO - OTCQX: NSRPF), to unpack the June 19th news release focused on exploration in the Pilbara region of Western Australia.

Key themes discussed:

Early-stage aircore drilling at the Balla Balla Project: Kas outlines the targeting strategy across a 15km strike. Although wide-spaced, the drilling revealed low-level gold mineralization and a strong multi-element geochemical signature pointing to a fertile system over 5km of strike.

Emerging gold-antimony prospects: The Sherlock Crossing area has returned high-grade surface samples (up to 146 g/t gold and 3% antimony), with a 1.5km soil anomaly now defined and ready for drilling. The Southeast Wyloo prospect is back on the radar with strong historical results, and fieldwork will resume shortly.

Egina JV with Northern Star Resources: Following the takeover of De Grey Mining, Northern Star is reviewing the project data. With $18M in spending remaining to earn 50%, Mike explains the ongoing collaboration and outlook for future drilling.

Strategic project pipeline: Mike and Kas provide insight into Novo’s broader exploration strategy, balancing advanced targets in New South Wales (Tibooburra and John Bull) with greenfield discoveries in Pilbara. They also remain open to potential JVs or asset sales where appropriate.

Expect further news on follow-up drilling and new target prioritization by the end of Q3.

Click here to visit the Novo Resources website to learn more about all the projects and exploration programs.

📩 Send your questions for the Novo team to be addressed in future updates! Email me at [email protected].

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