Novo Resources Corp., a prominent exploration company trading on the ASX, TSX, and OTCQB under symbols NVO and NSRPF, has released a comprehensive business update detailing significant advancements across its portfolio of Australian gold projects. The company, headquartered in Perth, Australia, continues to build a diversified exploration and development portfolio spanning key mining regions in Australia.
Exploration Targets Expanded and Drilling Plans Advanced
The Exploration Target at the Belltopper Gold Project in Victoria has been substantially increased following a detailed geological review. Preliminary planning is now underway for potential drilling in the second half of 2026, aimed at providing further confidence in this updated target. The Belltopper project is strategically located 120 kilometers northwest of Melbourne and approximately 60 kilometers south of Agnico Eagle's Fosterville Gold Mine, within the historically rich Bendigo Zone that has produced over 60 million ounces of gold.
Notable Results from Multiple Projects
At the Teichman project within the Egina Gold Camp, successful exploration has defined multiple prospects across an area measuring 1.3 by 2.5 kilometers, with significant potential identified along two main shear corridors. Rock-chip assay results have returned peak values of 77.5 grams per tonne gold and 51.4 grams per tonne gold, with 11 of 87 samples collected grading above 10 grams per tonne gold.
Recent field exploration programs at the Wyloo Gold-Silver-Antimony Project have substantially enhanced the project's potential, identifying new targets for follow-up and defining several targets ready for drilling in the second quarter of 2026. Drilling at Sherlock Crossing within this project has returned peak results of 3 meters at 2.96 grams per tonne gold and 1.86% antimony from 108 meters, including 1 meter at 7.71 grams per tonne gold and 4.77% antimony, with the system remaining open at depth.
Additional Project Updates
At the Tibooburra Gold Project in New South Wales, a recently completed reconnaissance program has defined new targets including Pioneer North with a peak result of 39.9 grams per tonne gold and Pioneer South where seven of twenty rock chip samples assayed above 4 grams per tonne gold with a peak result of 19.8 grams per tonne gold. Drill targets are currently being assessed to test down-plunge high-grade shoots at Clone and New Bendigo, along with the recently defined Pioneer South target.
All regulatory approvals for drilling of currently planned reverse circulation holes at the John Bull project near Grafton, New South Wales, have been received, with landholder access negotiations ongoing.
Financial Position and Forward Plans
Novo Resources reported a cash balance of A$8.5 million (approximately C$7.7 million) and investments of approximately A$23 million (C$21 million) as of December 31, 2025. The company has scheduled drill programs across the Wyloo (gold-silver-antimony), Balla Balla (polymetallic), and Onslow Toolunga (copper-gold) projects in the second quarter of 2026, with additional drilling planned for other key projects in the second half of 2026. These programs are expected to deliver a strong pipeline of news throughout the year.
A dedicated project generation program continues to focus on identifying advanced gold and copper assets to further enhance Novo's portfolio. The company maintains a mix of greenfields, advanced greenfields, and advanced exploration projects across leading mining provinces in Australia, positioning itself for continued growth in the exploration sector.
