Novo Resources Corp (ASX:NVO TSE:NVO) has recently announced the discovery of promising gold prospects at its Nunyerry North project located in Western Australia. This discovery comes after a reanalysis of drill intercepts utilizing advanced PhotonAssay™ technology, which has led to the identification of a notable increase in gold grades. Among the findings was a 6-metre intercept grading 6.12 g/t gold from a depth of 37 metres.
Mike Spreadborough, Co-chair and acting CEO of Novo Resources, emphasized the 'substantial upside potential' of the Nunyerry North project, particularly highlighting some high-grade results found near the surface. The reanalysis process involved comparing 4-kilogram samples against the traditional 500 grams, which uncovered the presence of coarse gold. This discovery has prompted the company to adjust its assay methodology strategically.
Looking ahead, Spreadborough detailed the company's plans for a phase two drill program. This program is designed to explore the extensions of the known gold-bearing horizon, structural targets, and the possibility of a mineralised porphyry intrusion. Novo Resources is set to carry out 4,000 metres of reverse circulation drilling along a 2-kilometre strike as part of this initiative.
In addition to the promising gold outcomes, Spreadborough also mentioned positive changes within the company's board. With these developments, Novo Resources is in a strong position to leverage the substantial upside potential of the Nunyerry North project. The implications of these findings are significant for the mining industry, as they not only highlight the potential for increased gold production but also demonstrate the effectiveness of advanced assay technologies in uncovering valuable resources.
