Novo Resources Corp. announced that a 4,000 m RC drill program at Nunyerry North, which is located in the southern Egina Gold Camp (EGC), will commence next week following completion of heritage clearance and earthworks. The follow-up drill program will test significant gold targets generated during the maiden drill program in 2023.

In addition, a maiden RC drill program is planned to test three significant gold and gold-copper (+-platinum-palladium) targets in the Karratha District, which were defined by a combination of mapping, surface geochemistry and historic geophysics (IP chargeability) with programs to be completed at North Whundo, Railway Bore and East Well. This approximately 3,500 m program is scheduled to start immediately after completion of the Nunyerry North drilling program. Also in the Egina Gold Camp, Earn-in and JV partner De Grey Mining (De Grey) is scheduled to commence aircore (AC) and RC programs in Second Quarter 2024.

AC drilling will be completed for target generation, and RC drilling completed for follow-up target testing at Heckmair, Irvine and Lowe. The Nunyerry North prospect lies in the southern EGC, located approximately 150 km from Port Hedland. The prospect is located along the southern extent of the Tabba Tabba Shear, a deep tapping gold-fertile structural corridor, where Novo has focussed exploration over the last eighteen months.

Novo completed a maiden RC drilling program of 30 holes for 2,424 m at Nunyerry North in Fourth Quarter 2023, generating significant gold intercepts in quartz vein arrays (some of which are blind at surface) hosted in a particular basalt unit. Significant intercepts from RC drilling at Nunyerry North include: 6 m @ 6.12 g/t Au from 37 m (NC017); 11 m @ 2.52 g/t Au from 22 m, including 6 m at 4.19 g/t Au from 22 m (NC014); 13 m @ 1.89 g/t Au from surface (NC004); 4 m @ 5.71 g/t Au from 40 m (NC015); 17 m @ 1.34 g/t Au from 37 m, including 4 m at 3.77 g/t Au from 50 m (NC022); 14 m at 1.14 g/t Au from 39 m, including 4 m at 2.16 g/t Au from 41 m (NC006). A program of approximately 4,000 m follow-up RC drilling is scheduled to commence next week at Nunyerry North, testing strike extensions of known mineralisation where high-grade surface gold in soil anomalism is present; down plunge of existing intercepts; and for repeat lodes at depth.

The upcoming Nunyerry North drilling program successfully qualified for the Exploration Incentive Scheme (EIS), awarding up to AUD 180,000 towards the drilling campaign. The EIS is a Western Australian State Government initiative that aims to encourage exploration in Western Australia by co-funding 50% of direct drilling costs. The qualification process is highly competitive and only selected projects that meet eligibility criteria are accepted for participation.

The EIS funding is designed to address significant knowledge gaps and critical uncertainties in an underexplored area. The Nunyerry North program comprises deep and early diamond holes to be drilled from June 2024 to fast-track development of the prospect. Recent exploration in the Karratha District has advanced several drill targets, including North Whundo, Railway Bore and East Well.

A maiden RC drilling program is planned to test these three high-priority prospects for Au and Au-Cu (+-Pt and Pd) mineralisation immediately after completing the Nunyerry North drilling. North Whundo is an outstanding target, delineated by a significant 1.2 km long Cu-Pd-Au anomaly, with highly anomalous rock chip results including peak values of 4.1 g/t Au+Pt+Pd and 3.9 % Cu. The Railway Bore Cu-Au target is an E-W trending complex array of malachite-bearing brecciated quartz veins and sericite-silica-sulphide altered suite of porphyritic felsic intrusions.

The target strikes over 300 m and is open under regolith along strike. Peak rock chip results include 9.6 g/t Au, 11.9% Cu and 26 g/t Ag. The East Well Cu-Au-Pd target is a 60 m wide > 200 ppm Cu in soil anomaly (pXRF) trending over a strike of 450 m and with a peak pXRF soil result of 1,750 ppm Cu.

Anomalous Cu-Au (+/- Pt-Pd) mineralisation is associated with an E-W shear along the contact of a mafic intrusive suite and basement felsic volcanics. Mineralisation includes malachite-bearing, brecciated and silica-altered gabbro with quartz-carbonate stockwork veining. Rock chip sampling returned peak values including 1.3 g/t Au, 214 ppb Pd, 46 ppb Pt and 0.6% Cu.

The approximately 4,000 m RC follow-up drilling at Nunyerry North is scheduled to commence next week. Novo?s maiden RC drilling program at the North Whundo, Railway Bore and East Well prospects is scheduled to start in Second Quarter 2024 and will total approximately 3,500 m to test Au and Au-Cu (+/- Pt-Pd) targets defined by a combination of mapping, surface geochemistry and historic geophysics (IP chargeability and anomalies). Rock chip samples of 1 ?

3 kg were submitted to Intertek commercial Genalysis (?Intertek?) in Perth, Western Australia where they were dried and crushed to -3 mm and pulverized to 75 µm or better (prep code SP64), with a > 85% pass, then assayed for Au by 50 g charge fire assay FA50/OE and for 48 elements using four acid digest ? MS finish (4A/MS). Selected samples were assayed for Pt and Pd in addition to Au using 50 g charge fire assay FA50/OE.

Elements that reported above the upper detection limit for 4A/MS were reanalysed using method 4AH/OE. A minimum of 2 CRM standards relevant for the style of mineralisation and 2 blanks were submitted per 100 samples. Soil samples were sieved to < 80 mesh and submitted to Intertek for aqua regia to analyse for 33 elements.

Selected samples were assayed using 25 g charge fire assay FA25/MS for Au, Pt and Pd. A minimum of 2 CRM standards, 2 blanks and 4 field duplicates were submitted per 100 samples. pXRF readings of soils and rock chips were taken using a NITON XLT5 model and were used to aid field interpretation and identification of anomalous target mineralogy and pathfinder elements.

The Niton pXRF machine was calibrated daily and checked against reference material four times per 100 samples and at the start and end of each day.