Novo Resources Corp. reported significant assays received from a six-hole (2,529 m) diamond drilling program completed at the Belltopper Gold Project (?Belltopper?) in Victoria. Recently completed drilling at Belltopper has delivered multiple new significant gold intercepts across a wide range of targets and includes the discovery of two new independent reefs with significant strike potential.

Highlights include: 2 m at 15.18 g/t Au from 9 m in BTD004. 4.25 m at 5.88 g/t Au from 274.75 m (inc. 2 m at 11.15 g/t Au from 277 m) in BTD001. 12.26 m at 1.45 g/t Au from 185 m (inc. 4.6 m at 2.64 g/t Au from 185 m) in BTD005.

5.6 m at 3.14 g/t Au from 219.8 m (inc. 3.04 m at 4.97 g/t Au from 222.36 m) in BTD001. 7 m at 1.88 g/t Au from 179 m (inc. 3.19 m at 3.42 g/t Au from 182.81 m) in BTD006. 19.15 m at 0.68 g/t Au from 216 m (inc. 1.45 m at 1.82 g/t Au from 233.7 m) in BTD002.

The mineralisation presented in the body of this news release is not necessarily representative of mineralisation throughout the Belltopper Gold Project. Intercepts are expressed as down-hole intersections and should not be presumed to represent true widths, which vary from hole to hole and between reefs. Significant gold results span a range of mineralisation styles; including oblique to stratigraphy high-grade shear or fault related mineralisation analogous to that at Costerfield or Stawell mines; layer-parallel laminated gold-bearing quartz, quartz breccia, and west-dipping mineralised faults analogous to high-grade Victorian deposits such as at Fosterville mine; and broad, low-grade mineralisation associated with the anticline saddle reef-style that has contributed so significantly to the historical gold endowment of the nearby Bendigo and Castlemaine goldfields.

The recent drilling continues momentum garnered from current exploration efforts and the 2021 - 2022 diamond program which discovered and delineated a gold-bearing felsic porphyry with clear IRG characteristics (confirming a new but hypothesised mineralisation style in the region); in addition to highlighting several underexplored, kilometre-scale, high-grade gold reefs with emerging shoot potential, that have in many cases only been tested by a handful of scout or reconnaissance holes at best. The diamond drilling program was executed with a strong focus on safety, environment, and community engagement with no incidents. All drill sites used during the program have been rehabilitated.

The six-hole (2,529 m) diamond drilling program was completed at Belltopper between December 2023 and March 2024 with all results recently returned (including required, additional infill assays). The drill program was designed to test various structural, geochemical, and geophysical (IP) targets across a range of geological settings within the 22 sq km Belltopper tenements. Drill holeBTD002 tested one of two high-order IP chargeability anomalies across a key anticline corridor and a potential SE extension of the historic NE-dipping Hanover Reef.

A broad zone of mineralisation returning 19.5 m at 0.68 g/t Au from 216 m in line with the modelled position for the Hanover Reef and nearby position of historic workings strongly suggests this reef was successfully intersected. presents all (+2-gram x metre) significant intersections returned from the six-hole program. Refer to Appendices for a full listing of all anomalous (> 0.3 gram x metre) intersections.

Drill hole BTD001 returned significant results on the Leven Star Reef within an emerging high-grade zone, reporting 4.25 m at 5.88 g/t Au from 274.75 m (includes 2 m at 11.15 g/t Au from 277 m); 5.6 m at 3.14 g/t Au from 219.8 m; and 1.94 m at 2.37 g/t Au from 230 m (Drill holeBTD002 tested one of two high-order IP chargeability anomalies across a key anticline corridor and a potential SE extension of the historic NE-dipping Hanover Reef. A broad zone of mineralisation returning 19.5 m at 0.68 g/t Au from 216 m in line with the modelled position for the Hanover Reef and nearby position of historic workings strongly suggests this reef was successfully intersected.). Drilling extended mineralisation up to 120 m down-dip of previously reported results and confirm a structural repeat (or overlap) of a high-grade segment of the Leven Star Reef in this zone.

The Reef remains open at depth. Drill hole BTD002 tested one of two high-order IP chargeability anomalies across a key anticline corridor and a potential SE extension of the historic NE-dipping Hanover Reef. A broad zone of mineralisation returning 19.5 m at 0.68 g/t Au from 216 m in line with the modelled position for the Hanover Reef and nearby position of historic workings strongly suggests this reef was successfully intersected.

An additional parallel reef ?the Welcome Fault,? was discovered in the hanging-wall position of the Hanover Reef and returned 4.1 m at 2.37 g/t Au from 36.1 m. Both the Hanover Reef and Welcome Fault are relatively closely spaced, parallel targets with a potential strike length exceeding 800 m based on historic workings and mapping. Up to 15% arsenopyrite and pyrite were logged in the Welcome Fault near surface; and up to 5% in the underlying Hanover Fault indicating a potential source for the IP Chargeability anomaly.

BTD002 is the first hole drilled into this high priority, developing NW-trending structural and IP target corridor. An interpreted saddle reef characterised by a wide intersection of quartz veining was also encountered between 464 ? 515 m in BTD002 across an anticline.

Anomalous gold averaging >0.1 g/t Au; with a peak intercept of 2.22 m at 0.43 g/t Au from 467.4 m demonstrate gold fertility and highlight the anticlines as key target features with the potential to host multiple mineralisation styles. A potential NE extension to the Leven Star and a parallel structure expressed at surface by a historically exploited alluvial gold channel known as Butchers Gully was targeted in BTD003. Two distinct, narrow (< 1 m) sulphide-breccias within wider (> 5 m) zones of intense sericite and clay alteration were encountered at 107.05 m and 132.6 m respectively, with the latter returning a narrow result of 0.3 m at 3.71 g/t Au from 132.6 m, and the former returning an anomalous result of 0.90 m at 0.37 g/t Au from 107 m; providing evidence that the Butchers Gully target is mineralised at depth.

An intersection of 3.00 m at 1.00 g/t Au from 318.41 m in BTD003 characterised by increased silica with disseminated chalcopyrite, arsenopyrite and pyrite is interpreted as a potential Leven Star Reef extension. The second high-order chargeability anomaly was tested on section by holes BTD004 and BTD005, in addition to several known and interpreted reef positions. Multiple gold occurrences were intersected across both holes (Drill hole BTD002 tested one of two high-order IP chargeability anomalies across a key anticline corridor and a potential SE extension of the historic NE-dipping Hanover Reef.