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Cover for Novo Resources – Drilling Plans at John Bull Project Following Gold Anomaly Extension

Novo Resources – Drilling Plans at John Bull Project Following Gold Anomaly Extension

May 05, 2025
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KEReport
By KEReport
KEReport

Novo Resources (TSX: NVO - OTCQB: NSRPF - ASX:NVO) is ramping up exploration at the John Bull Project in New South Wales, with a 1,500-meter RC drill program planned for June.

Executive Co-Chairman Mike Spreadborough and General Manager of Exploration Kas De Luca join us for a detailed update on Novo’s growing pipeline of exploration activity across Australia. The conversation centers on the John Bull Project, where a recently extended gold-in-soil anomaly now spans 1.5 kilometers and includes multiple rock chip samples grading up to 67.9 g/t gold.

Key topics covered:

  • Overview of the John Bull Project: Background on the asset, the significance of the soil and rock chip sampling, and how recent work has confirmed and expanded a robust gold anomaly.
  • Upcoming drill program: A 1,500m RC program will test newly defined quartz vein arrays and multiple fault zones. Only ~300m of the anomaly has seen previous drilling.
  • Four priority targets: John Bull Main, John Bull South, Hills Creek West, and Digger's North - all within a 1.5 km trend.
  • Updates on other projects: Drilling has just been completed at Balla Balla (Pilbara) with results expected in 3 weeks, and drilling is underway at Tibooburra (New South Wales), also acquired in late 2024.
  • Cash position and funding: Novo holds approximately A$9 million in cash, along with marketable securities, giving it the flexibility to continue executing across multiple projects.

Visit the Novo Resources website for full project detail.

KEReport
KEReport
The KE Report provides exclusive interviews with private money managers and sub $10 billion market cap companies. Interviews are published daily to help investors navigate the markets.
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