MINING REFINING

Novo Resources bolsters its portfolio with two high-grade gold projects in NSW, Australia

Mon Dec 16 2024

Novo Resources has signed binding term sheets for two option agreements with TechGen Metals and Manhattan Corporation to acquire significant interest in two high-grade gold projects in New South Wales (NSW), Australia.

These projects align with Novo’s strategic focus on ‘drill ready’ exploration targets with stand-alone development potential exceeding 1moz of gold.

The agreement with TechGen Metals for the John Bull Gold Project includes an option to acquire an 80% stake in the Micks Bull tenement and a 70% stake in the John Bull tenement.

The John Bull Gold Project, an advanced exploration prospect, is located in the New England district of NSW. The tenure consists of two tenements covering an area of 32km².

The agreement with Manhattan Corporation includes an option to acquire a 70% interest in the tenements comprising the Tibooburra Project.

The Tibooburra Gold Project, covering the historical Albert Goldfield in north-western NSW, includes six granted exploration licences over 630km². It features more than 200 historic workings and multiple mineralised trends with two advanced drill-ready target areas.

Source: https://www.mining-technology.com