Novo Resources Corp. provided an update on the exploration activities carried out and forward exploration program at the Quartz Hill Joint Venture in the Eastern Pilbara, Western Australia by the Company?s JV partner Liatam Mining Pty Ltd. (Liatam). The Quartz Hill Joint Venture is an 80% /20% unincorporated joint venture between Liatam and Novo relating to battery minerals.

This joint venture was formalised on 20 December 20231, when Liatam exceeded the required earn-in expenditure amount. Liatam is the owner of the included tenements and manager of the joint venture. The Quartz Hill Joint Venture comprises five granted Exploration Licences and eighteen Prospecting Licences, covering approximately 702 sqquare km.

Field based exploration to date confirms the area is highly prospective for LCT-style (lithium-caesium-tantalum) pegmatite hosted lithium mineralisation. Exploration activities at Quartz Hill commenced in April 2023. Work conducted to date includes fact mapping, collection and assay of 2,068 soil samples and 3,181 rock samples (float2), and analysis of 25 petrological samples.

Detailed geological mapping and surface sampling has delineated numerous pegmatite swarms within two key exploration areas over strike lengths of several kilometres; both areas are considered prospective for further exploration including drilling by Liatam. The Lepidolite Fields LCT pegmatite swarm is 6 km long, 0.8 km wide and is defined by highly anomalous float rock samples with encouraging surface assays. The target is located approximately 10 km from the Golden Eagle mine site.

Mapping has identified lepidolite bearing pegmatite swarms hosted by the Golden Eagle Orthogneiss and minor amphibolite enclaves. The Lepidolite Fields pegmatites are typically medium grained, consisting of feldspar (albite and microcline), quartz and lesser muscovite with lepidolite, tantalite and cassiterite. Lepidolite up to 30% in outcrop has been observed.

Amblygonite and to a lesser extent eucryptite are identified through petrology as alteration minerals. The egmatites at Lepidolite Fields are typically stacked, with thickness ranging from 0.1 m up to 5 m. The thicker pegmatites are shallow dipping towards the south while the thinner pegmatites generally dip steeply towards the north to northwest. Detailed mapping and sampling have identified five priority drill targets in the Lepidolite Fields target area.

Quartz Hill West is located approximately 8 km to the west of Lepidolite Fields Quartz Hill West is located approximately 8 km to the west of Lepidolite Fields. Helicopter supported heritage and ethnographic surveys are anticipated to commence in H2 2024 contingent on weather conditions and heritage considerations. Reconnaissance mapping and surface sampling is planned to fill sampling gaps from the 2023 exploration campaign.

This will include areas to the east of Lepidolite Fields where pegmatite swarms are identified in geophysical data sets but do not outcrop. A regional, conventional soil sampling program is designed to assist in identifying buried pegmatite swarms in areas of no or poor outcrop at Cadjuput Creek, Quartz Hill West /Lepidolite Fields, and regional targets. On completion of the required heritage and ethnographic surveys clearances, and advanced geochemical targeting, RC drilling is scheduled for H2 2024 to test high-priority targets identified within Lepidolite Fields.

Various pegmatite swarms are to be drill tested targeting potential spodumene mineralisation below significant Li2O float surface samples returned in 2023. A drilling contractor has been identified to undertake approximately 9,000 m of RC drilling over the key Lepidolite Fields targets, contingent on heritage and ethnographic surveys. Helicopter supported reconnaissance and mapping will continue to allow access to the more remote parts of the Quartz Hill Project areas and prioritise further follow up sampling and mapping of pegmatites prior to drill testing.

Rock chip samples collected by Liatam were approximately 1 to 3kg and were dried, crushed and pulverized (80% passing 75 microns). Prepared samples are fused with sodium peroxide and digested in dilute hydrochloric acid (Sodium Peroxide Fusion- Labcode FUSNLi - Na2O2 fusion). The resultant solution was analysed by ICP by Jinning Testing and Inspection Laboratory in Maddington, Perth primarily for Be, Cs, Fe, Li, Nb, Rb, Ta and Sn using ICP-OES finish including majors in addition to Lithium and ICP-MS finish from same digest solution for key trace elements.

Jinning Testing and Inspection Laboratory in Perth used Certified Reference Materials (CRMs) and/or in house controls, blanks, splits, and replicates which are analysed with each batch of samples. These quality control results are reported along with the sample values in the final report. CRMs including STD samples were inserted by Liatam Mining.

The insertion rate for the field CRM?s and blanks was 1 in 50 for float samples. This is considered as industry standard. All data was verified without limitation by a qualified person by reviewing analytical procedures undertaken.