Novo nails high-grade Pilbara gold

Novo Resources has nailed strong gold and antimony results from exploration programs across its projects about a sling-shot from Northern Star Resources’ world-beating Hemi gold operation in the Pilbara region of WA.

The company’s rock-chip sampling program at its Teichman area, near the  Egina gold camp earn-in/joint-venture (JV) project it shares with Northern Star, returned eye-opening gold grades of 77.5 grams per tonne (g/t) and 51.4g/t. An impressive total of 11 samples returned greater than 10g/t gold.

The significant results were coupled with solid drilling assays from its latest program at the company’s Sherlock Crossing prospect of 3m at 2.96g/t gold and 1.86 per cent antimony from 108m, including a 1m slice grading 7.71g/t gold and 4.77 per cent antimony.

Mapping and geochemical sampling at the Teichman area has defined a series of prospects across an area of 1.3 kilometres-by-2.5km, with management noting strong potential exists within two main shear corridors. 

Teichman is directly south of the Egina JV project and forms part of the Croydon JV project it holds in partnership with an entity associated with legendary “prospector” Mark Creasy. Novo holds 70 per cent with a 30 per cent stake held by Creasy Group’s Runnel Holdings.

Sampling at Teichman comprised first-pass on ground exploration to define targets for drilling after completing discussions with the local Muraginya community, allowing access to the site.

The Teichman ground consists of multiple prospects, with the high-grade 77.5g/t chip collected from Pride NNE, which also assayed 9.3g/t silver and 0.24 per cent copper.

A second high-grade rock chip sample collected from Pride N returned 51.4g/t gold, 7.9g/t silver and 0.59 per cent copper. The company says the two Pride prospects display the strongest potential with exploration defining a 1.2km corridor of carbonate alteration and mineralisation under thin shallow cover, along with numerous workings along a complex array of primary northeast trending and second-order shears.

Further high-grade gold chips included 6.9g/t at Pride, 30.3g/t at Teichman, 17.5g/t at Teichman N and 38.3g/t at its Mountain Maid prospect.

The Teichman and Teichman South prospects are within the Teichman Shear Zone and consist of two subparallel shears 80m apart, trending north-northeast with east-west dilational jogs, a characteristic development of brittle deformation.

The company has identified several targets for follow-up work now to enable fast-tracking to drill-ready status.

Novo Resources executive co-chairman and acting chief executive officer Mike Spreadborough said: “The geological work at Teichman has highlighted several exciting prospective drill targets with complex geology and structure and significant areas of cover and we will continue to progress key work activities in the lead-up to a possible maiden drill program. Drilling at Sherlock has provided a significant gold-antimony intercept which is part of a much larger system and highlights the complexity of high-grade vein systems.”

A scout drilling program consisting of 8 holes for 1026m across four drill sections spaced about 80m apart, was completed at Sherlock Crossing and focused on the historic Clarke mine workings.

In addition to the headline gold-antimony drilling result at Sherlock Crossing, further assays produced 1m at 3.15g/t gold and 84 parts per million (ppm) antimony from 19m depth, in addition to 1m grading 1.05g/t gold and 246ppm antimony from 59m within the same hole.

The mineralisation encountered occurs in intervals associated with thick quartz veining and carbonate altered ultramafic-mafic wall rock.

Novo says the gold-arsenic-antimony mineralisation in the hole that returned the two 1m intervals, appears to vector downward at the end of the hole, with mineralisation open at depth.

The company is yet to test a coherent 1.5km-long soil anomaly with the hard edge of the drill-bit, that lies southwest of the recent drilling. A heritage survey has been completed and a program-of-works for the southern portion of the anomaly has been granted. It is assessing the potential for a high-grade plunging shoot focused near the historic Clarke mine.

Novo is also planning follow-up mapping and sampling at its Wyloo project this month following granting of access by the traditional owners. Previous rock-chip sampling of the polymetallic-style mineralisation unearthed head-turning results grading up to 482g/t silver, 15.95 per cent zinc, 9.7 per cent lead, 2.6 per cent copper and 1.29 per cent antimony.

Meanwhile, Northern Star is continuing to punch away at the Egina earn-in JV project, where it can earn up to a 50 per cent interest along with the Farno JV project. Farno is held 75 per cent Northern Star and 25 per cent Novo.

Northern Star is planning continued exploration at Egina, with field mapping, field reconnaissance and desktop studies to be completed across a suite of tenements within the JV.

Novo’s address near Hemi is nearology at its best but with the presence of multiple occurrences of ore grade mineralisation, it just might end up being more than that. 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au