Aircore Drilling to Commence at Balla Balla
HIGHLIGHTS
•
Aircore drilling to test priority targets expected to commence in late-March, weather dependent, at the Balla Balla Gold Project.
•
Drilling is planned to target zones of structural complexity and splay faults proximal to the Sholl Shear Zone, under generally shallow cover.
•
The Sholl Shear Zone is a fertile, long lived, crustal-scale feature which trends over 200 km in the northern Pilbara.
•
Geological interpretation has identified folded and offset mafic and ultramafic stratigraphy in complex zones around splays off the Sholl Shear Zone.
•
Several prospects are delineated for drill testing including Ramquarry, Cockerell, Babbage and Beaufort.
•
Mapping and sampling campaigns completed at the Tibooburra and John Bull Gold Projects in NSW.
PERTH, Wash., March 19, 2025 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (ASX: NVO) (TSX: NVO) (OTCQB: NSRPF) is pleased to announce the imminent start of a maiden aircore drill program at the Balla Balla Gold Project (Balla Balla), designed to test target zones of structural complexity in the Sholl Shear Zone and associated structures under cover.Landscape at the Balla Balla Gold Project
Balla Balla Gold Project
Balla Balla is an early-stage exploration project centred on the Sholl Shear Zone ().
Novo executed a Determination Wide Aboriginal Heritage Protection Agreement with the Kariyarra Aboriginal Corporation (KAC), enabling the grant of application E47/4703 in November 2024. A site avoidance heritage survey has since been completed with KAC, and a Programme of Work approved by the regulator (DEMIRS) in Q4 2024, enabling first pass aircore (AC) drilling to be conducted over priority targets.
Novo has identified several prospects over a 10 km trend. These include interpreted fertile structures and important splay faults of the Sholl Shear Zone that will be targeted in Novo's maiden AC program. The program will test below shallow cover and is ready to commence in late-March 2025, weather dependent.
Historical drilling in the areas suggests cover sequences in the order of 25 m vertical depth (maximum). AC drilling is designed to quickly and effectively drill through the unconsolidated cover sequence to the harder basement rocks, whilst also providing a good end of hole basement rock sample for geological identification and geochemical testing purposes. Novo Tenure in the Central Pilbara showing major structural architecture, priority prospects and the location of the Balla Balla Gold Project
The Sholl Shear Zone is a significant geological feature extending for more than 200 km along the northwest coast of the Pilbara. It is recognised as a kilometre-wide crustal-scale structure that played an important role during deposition within the De Grey Superbasin and is interpreted to have been reactivated, providing potential pathways for volcanism and related gold mineralisation.1
Mineralisation in the Pilbara Craton is often associated with shear zones and faulted contacts between different rock units. These structural features create spaces where mineralising fluids can circulate and deposit gold. The Sholl Shear Zone, being a major crustal-scale structure, played a significant role in this process as both a fluid conduit and focusing corridor.
Interpretation of regional fault architecture from available data sources also infers that the Loudens Fault and similar structures intersect both the mineralised Mallina Fault and the Wohler Shear in the Mallina Basin, and the Sholl Shear Zone further north (). This setting, in addition to the known Cu and Cu-Au fertility associated with the Sholl Shear Zone in the Karratha District suggests high prospectivity along the Sholl Shear. The Mallina Basin hosts the 12.7 Moz Au De Grey Mining (ASX: DEG) Hemi gold deposit.2
Balla Balla hosts an area of significant structural complexity proximal to the intersection of the Loudens Fault and Sholl Shear Zone with large, high density rotated blocks, folded stratigraphy and a varied geology providing local rheological contrast between different rock units. These ingredients can act to help focus potential mineralised fluid into secondary and tertiary structures which are being tested by this drill campaign.Balla Balla geological interpretation showing complex structure, priority targets and planned aircore drill program
___________________________________1 Van Kranendonk, M. J., Hickman, A. H., Smithes, R. H., & Nelson, D. R. (2002). Geology and tectonic evolution of the Archean North Pilbara Terrain, Pilbara Craton, Western Australia. Economic Geology, 97(4), 695-7322 Refer to De Grey's ASX Announcement, Hemi Gold Project Mineral Resource Estimate 2024 dated 14 November 2024, available to view at www.asx.com.au. No assurance can be given that a similar (or any) commercially viable mineral deposit will be determined at Novo's Balla Balla Gold Project.
Drill targeting is based primarily on geophysical interpretation and historic drilling due to the presence of surface cover across the prospect areas. Several prospects will be targeted in the current program including:
Ramquarry – tests a zone of structural complexity and interpreted fault splays from the Sholl Shear Zone, in addition to the contact of the interpreted Sherlock Intrusion. The northeast aircore lines at Ramquarry also target an isolated, fault-bound wedge of Mallina sediments that appear to host mafic to ultramafic intrusions. A broad transect of the Sholl Shear Zone where it contacts the Mallina Formation and Portree Suite granite will also be tested.
Beaufort - targets a rotated block of interpreted Sherlock Intrusion abutting the Sholl Shear Zone.
Babbage – targets folded magnetic and non-magnetic units interpreted to have rheology contrast and space creation in the hinges of the folds.
Cockerell - targets significant structural complexity including folded units and cross cutting second order structures splaying from the Loudens Fault with potential competency contrast along trend from Babbage.
Initially, AC drill lines will be conducted at nominal 640 m spacing with hole centres spaced at 50 m. Drill lines are orientated at 140 degrees (drill azimuth) to ensure optimal coverage to test NE-SW striking target structures and the broad stratigraphic trend. Holes will be drilled to blade refusal (i.e. to the capacity of the AC drilling rig) to obtain bedrock geological information, and a stick of core will be collected for analysis at the end of hole.
Drilling is scheduled to commence late March 2025, dependent on weather.
NSW Exploration Program
Field teams have completed mapping and sampling campaigns at the Tibooburra and John Bull Gold Projects in NSW, improving the geological interpretation and understanding of controls on mineralisation.
Assay results are now being received for both NSW projects and, in addition to geological mapping and modelling, will provide final support for drill program design.
RC drilling at both NSW projects is scheduled for Q2 2025, likely commencing at the Clone prospect (Tibooburra), and post completion of the Balla Balla AC drill program.
Authorised for release by the Board of Directors.
CONTACT
Investors:Mike Spreadborough +61 8 6400 6100 info@novoresources.com
North American Queries:Leo Karabelas+1 416 543 3120leo@novoresources.com
Media:Cameron Gilenko+61 466 984 953cameron.gilenko@sodali.com
QP STATEMENT
Mrs. Karen (Kas) De Luca (MAIG), is the qualified person, as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for, and having reviewed and approved, the technical information contained in this news release. Mrs De Luca is Novo's General Manager Exploration.
JORC COMPLIANCE STATEMENT
The information in this news release that relates to previously reported Exploration Results from Novo's NSW Gold Portfolio is extracted from Novo's ASX announcement entitled Novo Strengthens Portfolio with Two High-Grade Gold Project in NSW, Australia released to ASX on 13 December 2024 which is available to view at www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the competent persons findings are presented have not been materially modified from the original market announcement.
The information in this news release that relates to the previously reported exploration target at Belltopper is extracted from Novo's ASX announcement titled Belltopper Mineralisation Modelling Defines Prospectivity released to ASX on 25 September 2024 which is available to view at www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information in the original market announcement and that the form and context in which the Competent Person's findings are presented has not been materially modified from the original market announcement.
FORWARD-LOOKING STATEMENTS
Some statements in this news release may contain 'forward-looking statements' within the meaning of Canadian and Australian securities law and regulations. In this news release, such statements include but are not limited to planned exploration activities and the timing of such. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the resource industry and the risk factors identified in Novo's annual information form for the year ended December 31, 2024 (which is available under Novo's profile on SEDAR+ at www.sedarplus.ca and at www.asx.com.au) and in the Company's prospectus dated 2 August 2023 which is available at www.asx.com.au. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Novo assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Novo updates any forward-looking statement(s), no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.
ABOUT NOVO
Novo is an Australian based gold explorer listed on the ASX and the TSX focussed on discovering standalone gold projects with > 1 Moz development potential. Novo is an innovative gold explorer with a significant land package covering approximately 5,500 square kilometres in the Pilbara region of Western Australia, along with the 22 square kilometre Belltopper project in the Bendigo Tectonic Zone of Victoria, Australia.
Novo's key project area in the Pilbara is the Egina Gold Camp, where De Grey Mining (ASX: DEG) is farming-in to form a JV at the Becher Project and surrounding tenements through exploration expenditure of A$25 million within 4 years for a 50% interest. The Becher Project has similar geological characteristics as De Grey's 12.7 Moz Hemi Project#. Novo is also advancing gold exploration south of Becher in the Egina Gold Camp, part of the Croydon JV (Novo 70%: Creasy Group 30%). Novo continues to undertake early-stage exploration elsewhere across its Pilbara tenement portfolio.
Novo has also formed a lithium joint venture with SQM in the Pilbara which provides shareholder exposure to battery metals.
Novo has recently strengthened its high-quality, Australian based exploration portfolio by adding the TechGen John Bull Gold Project in the New England Orogen of NSW, and Manhattan Tibooburra Gold Project in the Albert Goldfields in northwestern NSW. Both projects demonstrate prospectivity for significant discovery and resource definition and align with Novo's strategy of identifying and exploring projects with > 1 Moz Au potential. These high-grade gold projects compliment the landholding consolidation that forms the Toolunga Project in the Onslow District in Western Australia.
Novo has a significant investment portfolio and a disciplined program in place to identify value accretive opportunities that will build further value for shareholders.
Please refer to Novo's website for further information including the latest corporate presentation.*An Exploration Target as defined in the JORC Code (2012) is a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade (or quality), relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource. Accordingly, these figures are not Mineral Resource or Ore Reserve estimates as defined in the JORC Code (2012). The potential quantities and grades referred to above are conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. These figures are based on the interpreted continuity of mineralisation and projection into unexplored ground often around historical workings. The Exploration Target has been prepared in accordance with the JORC Code (2012), as detailed in the Company's ASX announcement released on 25 September 2024 (available to view at www.asx.com.au). The Tonnage range for the exploration target is 1.5Mt to 2.1Mt, the Grade range is 6.6g/t Au to 8.4g/t Au and the Ounces range from 320koz Au to 570 koz Au. The Company confirms that it is not aware of any new information that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the original market announcement continue to apply and have not materially changed. Dr Christopher Doyle (MAIG) and Dr Simon Dominy (FAusIMM CPGeo; FAIG RPGeo), are the qualified persons, as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for, and having reviewed and approved, the technical information relating to the Exploration Target. Dr Doyle is Novo's Exploration Manager - Victoria and Dr Dominy is a Technical Advisor to Novo.
#Refer to De Grey's ASX Announcement, Hemi Gold Project mineral Resource Estimate (MRE) 2024, dated 14 November 2024. No assurance can be given that a similar (or any) commercially viable mineral deposit will be determined at Novo's Balla Balla Gold Project.
Figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/386fe095-3e7a-49a9-868d-5a020b667fb9
https://www.globenewswire.com/NewsRoom/AttachmentNg/13e5e298-fcbc-4bb6-acae-69f862d557d6
https://www.globenewswire.com/NewsRoom/AttachmentNg/3f28a1c7-0b21-4f70-9004-25290f273dd5
https://www.globenewswire.com/NewsRoom/AttachmentNg/64230af4-ebf0-4648-8417-e9a3422ffab1Sign in to access your portfolio
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
4 hours ago
- Business Upturn
Martini Market Presale Surpasses 40% of Softcap Within 24 Hours of Launch on XRP Ledger
By GlobeNewswire Published on June 21, 2025, 19:02 IST DUBAI, United Arab Emirates, June 21, 2025 (GLOBE NEWSWIRE) — Martini Market , the decentralized prediction market platform being developed on the XRP Ledger (XRPL), has confirmed that its $MRT token presale has exceeded 40% of its initial softcap target within 24 hours of launch. The strong early participation reflects rising interest in emerging use cases within the expanding XRP ecosystem. The presale, which opened on June 19 at 3 PM UTC, offers 4 million $MRT tokens to the public out of a total supply of 10 million. The softcap is set at 50,000 XRP, and the hardcap is capped at 250,000 XRP. According to the project team, over 20,000 XRP has already been contributed in the first 24 hours. Martini Market positions itself as the first decentralized, on-chain prediction platform built directly on the XRP Ledger. It aims to enable users to create and participate in outcome-based markets tied to real-world events. These include sectors such as politics, sports, finance, and global affairs, resolved via oracles and on-chain automation. The $MRT token is designed as a core utility asset within the Martini Market ecosystem. According to the team, its intended functions include governance participation, staking, and market creation. Platform users holding specific quantities of $MRT will have access to additional roles and benefits once the platform is live. The project launch comes amid a period of notable development across the XRP Ledger. Ripple's recent regulatory progress in the UAE, including DFSA approval and partnerships with Zand Bank and Mamo, along with the integration of USDC and RLUSD, and the introduction of an EVM-compatible sidechain, have contributed to an environment increasingly supportive of DeFi protocols. 'The early demand for $MRT appears to reflect an appetite within the XRPL community for decentralized tools that go beyond payments,' said a Martini Market spokesperson. 'Prediction markets are widely used on other blockchains, and bringing this functionality to XRPL could open a new chapter in its utility-driven growth.' The $MRT token is currently being offered at a presale rate of 1 XRP = 16 MRT. Post-presale, the listing price has been set at 1 XRP = 11 MRT, representing a difference of approximately 30% from the presale valuation. The presale is expected to run for up to 30 days, though it may conclude earlier if the hardcap is reached. In addition to governance and market participation, $MRT will also be used to incentivize liquidity providers and potentially reward staking participants. Specific platform mechanisms will be detailed further as the protocol approaches mainnet deployment. Martini Market has not made any financial projections or investment claims regarding $MRT. The team emphasizes that participation in the presale is subject to personal discretion and recommends that users conduct independent research before contributing. For more information on Martini Market's presale structure, roadmap, or token details, users are encouraged to visit the official website and verified community channels. Official ChannelsWebsite: @MartiniXRPLTelegram: Discord: Contact:Picard Beaumont [email protected] Disclaimer: This is a paid post and is provided by Martini Market. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page. Legal Disclaimer: This media platform provides the content of this article on an 'as-is' basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above. A photo accompanying this announcement is available at Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Business Upturn
4 hours ago
- Business Upturn
How to participate in Quid Miner cloud mining and earn passive income every day using XRP or DOGE
Boston, Massachusetts, June 21, 2025 (GLOBE NEWSWIRE) — In the dynamic cryptocurrency market, XRP and DOGE have always attracted much attention. XRP, with its advantages in the field of cross-border payments, is seen as a bridge connecting traditional finance and blockchain; and DOGE has quickly become popular and a market hotspot relying on its strong community support and star effect. As the market gradually becomes standardized and supervision is strengthened, the development directions of the two cryptocurrencies have begun to diverge significantly. The latest data shows that after a round of strong growth, XRP's price is currently trading sideways in a key range, and market momentum has slowed down. At the same time, DOGE's technical side is weak and faces pullback pressure in the short term. Despite this, some large investors continue to increase their positions in DOGE, indicating that its long-term prospects are still optimistic. In the current market environment, more and more investors are beginning to seek more stable and sustainable ways to return. At this time, the launch of QuidMiner provides them with a new option. Providing potential cryptocurrency mining solutions to investors Quid Miner was founded in 2010 and is headquartered in the UK. It is a regulated cloud mining platform that serves more than 8 million users in more than 180 countries around the world. Quid Miner deeply integrates artificial intelligence and green renewable energy and applies them to the cloud mining field. Quid Miner is committed to making cloud mining simple, efficient and safe. Relying on advanced technology and a global network of data centers,Quid Miner allows users to easily participate in the blockchain ecosystem and earn potential passive income without having to purchase hardware or maintain equipment. QuidMiner platform core advantages: ⦁ Register and log in to get a $15 reward (a daily $0.60 sign-in bonus) ⦁ Simple interface and convenient operation: all fee structures are fully open and transparent, without any hidden fees. Provide a variety of flexible contract options ⦁ The platform supports more than 10 cryptocurrencies for settlement (recharge and withdrawal): including DOGE, BTC, ETH, SOL, BCH, XRP, USDC, LTC, USDT-TRC20 and USDT-ERC20, etc. ⦁ Referral Affiliate Program: Recommend your friends to register and you will receive referral bonus permanently. ⦁ Relying on the dual protection of McAfee® and Cloudflare®, it provides stable operation support and 7×24 hours of real-time technical customer service to ensure user safety. Start your mining journey in 3 simple steps ⦁Visit the official website of quidminer and register as a member immediately via email. ⦁Choose a mining contract that suits your budget and start your mining plan easily. ⦁Referral Affiliate Program: Refer friends to register and get potential referral rewards Learn about QuidMiner mining contracts and explore new ways to manage digital assets (Note:Please configure flexibly and reasonably according to your own budget and choose a variety of contracts that suit you. You will have the opportunity to obtain potential profits. Your potential profits will be automatically calculated and settled in your account.) In summary As the uncertainty in the cryptocurrency market intensifies, QuidMiner has attracted more and more users' attention with its advanced security technology architecture features, compliant and transparent operating system, and simple and intuitive user experience. Whether you are a beginner or a seasoned veteran investor,QuidMiner provides you with a potential passive income solution. For more information, please visit the official website of the platform: APP application download Official platform email: [email protected] Disclaimer: The information provided in this press release is not a solicitation to invest and is not intended as investment advice, financial advice, or trading advice. Cryptocurrency mining and staking involve risks. There is a possibility of loss of funds. You are strongly advised to perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Business Upturn
4 hours ago
- Business Upturn
AIXA Miner Unveils New Free Cloud Mining Platform Aligned with 2025 Green Tech and Smart Mining Goals
Denver, CO, USA, June 21, 2025 (GLOBE NEWSWIRE) — In a strategic move that highlights its commitment to innovation and environmental responsibility, AIXA Miner has announced the launch of its upgraded free cloud mining platform, designed for a new generation of crypto users. The announcement aligns with the growing industry focus on sustainability, smart mining technologies, and secure digital asset access, making AIXA one of the first platforms to truly meet 2025's evolving mining standards. With a user base spanning over 120 countries and a strong foundation in automated mining infrastructure, AIXA Miner enables users to mine Bitcoin, Ethereum, and other top digital assets directly from the cloud — no hardware, no technical know-how required. A More Responsible Way to Mine Crypto The 2025 crypto mining landscape is shifting rapidly. Rising concerns about energy use, network security, and environmental impact have led many miners and investors to seek alternatives to traditional hardware mining. AIXA Miner is answering that call by launching a zero-cost, carbon-conscious, and technology-forward mining platform that removes entry barriers and prioritizes both profitability and planet. Key features of the new platform include: Free mining startup trial , available to all new users , available to all new users No hardware required , mining runs via AIXA's secured cloud infrastructure , mining runs via AIXA's secured cloud infrastructure Green energy-powered data centers AI-optimized mining schedules for efficiency and speed for efficiency and speed User dashboard with real-time earnings tracking Daily payouts in USDT or crypto of choice Technological Excellence Meets Everyday Usability What sets AIXA Miner apart is its ability to blend technical innovation with everyday simplicity. The platform's mining engine is backed by AI-driven algorithms and secure server farms — yet the interface is clean, user-friendly, and mobile-responsive. Users can start mining within minutes, with just an email sign-up and zero upfront investment. The platform also offers a selection of low-entry contracts for users looking to scale up at their own pace, along with a tiered referral system to encourage community growth. Sustainability Built In AIXA Miner's infrastructure includes green-compliant energy use policies and carbon-reduction initiatives, contributing to a smarter and more sustainable crypto ecosystem. This commitment not only meets the benchmarks outlined in global crypto mining sustainability frameworks for 2025, it also reflects the values of the growing number of eco-conscious digital asset users worldwide. How to Get Started Visit Sign up with your email to activate the free mining trial Choose your preferred asset and let the cloud engine begin mining Track your earnings daily and withdraw or reinvest as desired Invite others and earn referral rewards on every new user About AIXA Miner Founded in 2020, AIXA Miner is a U.S.-based cloud mining platform powered by renewable energy and artificial intelligence. With a presence in over 200 countries and regulatory certifications, the platform delivers secure, daily-yield mining services that are easy to access and designed for long-term sustainability. For more information, visit: [ Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
