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Manhattan Gold Corporation Limited (ASX:MHC)

ALERT: Price-sensitive ASX Announcement for MHC
Current share price for MHC : $0.026 0.003 (13.04%)+
Announcement
Release
30 Jul 2026 8:16AM
Price at Release
$0.023
Full Release
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Summary
Novo Resources Corp announced updates on the Tibooburra Gold Project in New South Wales, being explored via a joint venture with Manhattan Gold Corporation Limited. The update outlines a planned 2,700-meter RC drilling program targeting the Clone and Pioneer South prospects, scheduled for late Q3 2026 after necessary approvals. This project is part of a larger exploration effort across fault-controlled alteration corridors significant for gold mineralisation. Novo, Manhattan, and Awati Resources have formalized a joint venture, with Novo committing A$1.5 million to secure a 70% interest in the tenements. The area remains significantly underexplored, offering opportunities for further discovery.
Key Points
  • Novo Resources Corp is progressing with the second stage of exploration at the Tibooburra Gold Project in NSW through a joint venture with Manhattan Gold Corporation Limited.
  • A 2,700-meter reverse circulation (RC) drilling program is scheduled to commence at the Tibooburra Gold Project in late Q3 2026, pending regulatory approvals.
  • Drilling will target the Clone and Pioneer South prospects, with Clone testing for a northern extension of high-grade gold mineralisation confirmed in previous campaigns.
  • The project area is characterized by fault-controlled alteration corridors, which are important for potential mineralisation.
  • Novo, Manhattan, and Awati Resources Pty Ltd have formalized a joint venture and option agreement, with Novo holding the potential for a 70% interest in the tenements upon exercising its option.
  • Novo's financial commitment involves spending A$1.5 million to form the joint venture, with Awati being free carried until a bankable feasibility study is completed.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.