In this company update, we are joined by Mike Spreadborough, Executive Co-Chairman, and Kas De Luca, General Manager of Exploration at Novo Resources (TSX: NVO | ASX: NVO | OTCQX: NSRPF). Following a flurry of activity across their portfolio, the team discusses the significant expansion of exploration targets at the Belltopper Project in Victoria, Australia.
Key Discussion Points:
- Exploration Target Upgrade: The company recently announced a 40% increase in estimated ounces and a 48% increase in tonnage at the Belltopper Project, with the high-case exploration target now exceeding 880,000 ounces of gold.
- Geological Confidence: Kas De Luca explains how a year of mapping, 3D modeling of historical mine data, and modern drilling has expanded the target to eight distinct high-grade reefs, including the discovery of additional structures like the O’Connor’s Reef.
- Proximity to World-Class Mines: The team highlights Belltopper’s strategic location within the Bendigo Tectonic Zone, situated just 60km south of the high-grade Fosterville mine, in a province that has produced over 60 million ounces of gold.
- Upcoming Work Programs: Mike Spreadborough outlines the roadmap for the second half of 2026, which includes a major diamond and RC drilling campaign aimed at converting these exploration targets into a formal inferred resource.
- Portfolio-Wide Momentum: Beyond Victoria, the conversation touches on near-term drilling plans for the projects in the Pilbara, supported by a solid cash position of approximately $8 million as of the start of the year.
Please email me with any follow up questions for Mike and the team at Novo Resources. My email address is Fleck@kereport.com.
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