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Novo Resources Corp. (ASX:NVO)

ALERT: Price-sensitive ASX Announcement for NVO
Current share price for NVO : $0.059 0.003 (5.36%)+
Announcement
Release
30 Jul 2026 8:16AM
Price at Release
$0.056
Full Release
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Summary
Novo Resources Corp. has provided an update on its exploration activities at the Tibooburra Gold Project in New South Wales. The company is moving forward with the second stage of exploration through a joint venture with Manhattan Gold Corporation Limited. The upcoming program includes a 2,700-meter reverse circulation (RC) drilling at the Clone and Pioneer South prospects, set to commence in late Q3 2026, pending regulatory approvals. Novo aims to explore the northern extension of high-grade gold mineralization previously identified at Clone and to test an undrilled trend at Pioneer South. Formal agreements have been finalized, allowing Novo to form a joint venture with Awati Resources, a subsidiary of Manhattan, after investing A$1.5 million. This exploration is part of Novo’s strategy to capitalize on the underexplored potential of Tibooburra, which is geologically analogous to the Victorian Goldfields.
Key Points
  • Second stage exploration through joint venture with Manhattan Gold Corporation Limited.
  • 2,700-meter RC drilling at Clone and Pioneer South prospects.
  • Drilling to commence in late Q3 2026 after regulatory approvals.
  • Exploration targets northern extension of high-grade gold mineralization at Clone.
  • Testing undrilled trend at Pioneer South.
  • Formalization of joint venture with Awati Resources requires A$1.5 million investment.
  • Tibooburra is geologically similar to the Victorian Goldfields.
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.