Novo Resources Advances Tibooburra Gold Project with Farm-in/JV and Drilling Plans
Novo Resources Corp. (ASX: NVO) has advanced to the second stage of exploration at its Tibooburra Gold Project in New South Wales through a farm-in/joint venture agreement with Manhattan Gold Corporation Limited (ASX: MHC). The company plans to initiate an approximately 2,700-meter reverse circulation drilling program targeting two key prospects—Clone and Pioneer South. Drilling is expected to begin in late Q3 2026 after securing necessary approvals. The Clone prospect will focus on extending high-grade gold mineralization identified earlier this year during Novo’s 2025 drill campaign, which included results up to 12 meters at 5.90 grams per tonne of gold (g/t Au). The Pioneer South area is a newly defined target with historical workings and rock-chip assays showing high-grade gold potential. Formal agreements have been signed between Novo, Manhattan Gold Corporation Limited, and its subsidiary Awati Resources Pty Ltd under the terms outlined in December 2024. These include share issuance to Awati and exploration spending commitments by Novo.
Topics: exploration drilling gold joint venture