Novo Resources And De Grey Mining Start Follow-Up Drilling At Becher

Novo Resources Corp (ASX:NVO) (TSX:NVO) (OTCQX:NSRPF) and De Grey Mining Ltd (ASX:DEG) have started follow-up drilling at the Becher Project.

Becher is part of the Egina earn-in and joint venture in the Pilbara region of Western Australia.

De Grey is earning into the JV with a minimum spend of A$7 million to December 2024, as part of a required A$25 million spend over 4 years to earn 50% of the JV.

Becher drilling

De Grey completed its maiden aircore (AC) and reverse circulation (RC) drill program at Becher in Q4 2023, with over 10,500 metres drilled.

Significant gold results were returned from both the Lowe and Heckmair prospects, which have been deemed as priority prospects.

De Grey has started follow-up programs, with ~28,000 metres of combined AC and RC drilling planned using two rigs.

Assay results from these programs are anticipated in H2, 2024.

Advancing key targets

Novo Executive Co-Chairman and Acting CEO Mike Spreadborough said: “This is an exciting time for the Egina JV with the recommencement of AC and RC drilling programs at our flagship Becher Project.”

“De Grey are focused on undertaking a further 28,000m of combined drilling, which of course is a follow on from the initial program completed at the end of 2023 and will continue to advance key targets identified by Novo historically.”

Nunyerry North

Nunyerry North is Novo’s high priority exploration target with significant prospectivity, located in the southern part of the Egina Gold Camp.

It is part of the Croyden JV (Novo 70%; Creasey Group 30%).

A ~4,000-metre RC drill program started in late May following significant results from the maiden drill program which was completed in Q4 2023.

The program is testing multiple new targets along strike of known mineralisation and down plunge of existing intersections.

Drilling is proceeding to plan with the program expected to be completed in early July 2024. 

 

Disclaimer

JustStocks provides data and commentary that constitutes general information only. This does not constitute personal, financial or professional advice or assistance. The data and information compiled do not consider your investment objectives or your financial circumstances. JustStocks cannot guarantee this website’s accuracy, completeness, or timeliness. JustStocks accepts no responsibility regarding any inaccuracy, omission, or change in information or articles or the data provided. The information published on this site/page should not be relied upon as a substitute for personal financial or professional advice. The information provided may not be appropriate for your circumstances or needs. JustStocks recommends that you seek professional advice from a qualified advisor before you make any decisions.