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March 17, 2025Novo Resources exploring three optioned and staked properties in Australia
Novo Resources, a Vancouver and Perth-based gold explorer, has committed to an exploration program at three recently optioned and staked properties in Australia. All three projects align with Novo’s strategy of identifying drill-ready exploration projects with greater than 1-million-oz. development potential.
Novo can earn a 70% interest in the John Bull tenement and 80% interest in the Mick Bull tenement, combined as the John Bull gold project optioned from TechGen Metals and a 70% interest in the Tibooburra Gold project optioned from Manhattan Corp. Both properties are located in New South Wales.
At the Tibooburra project, Novo can earn its interest by issuing 1.5 million Novo shares and spending A$1.5-million on exploration after two year-long farm-in periods. In both cases, the agreement can be terminated after each farm-in period if the results are unsatisfactory.
Novo’s primary project is the Egina JV with De Grey Mining for the Becher property, 28 km from De Grey’s 13.6-million-oz. Hemi project in Western Australia’s Pilbara region.
