Novo Resources to acquire two NSW gold projects
ASX- and TSX-listed Novo Resources Corp has entered into binding term sheets with fellow ASX-listed companies TechGen Metals and Manhattan Corporation to acquire their respective John Bull and Tibooburra gold projects, in New South Wales (NSW).
The two projects support Novo’s strategy of identifying ‘drill ready’ exploration targets with a demonstrated pathway with potential to be a standalone project with more than one-million ounces of development potential.
Both Projects also satisfy Novo’s key sustainability criteria for potential future development.
“High-grade gold projects are rare, and both the John Bull and Tibooburra gold projects have reported previous high-grade results. We are looking forward to getting on the ground early in 2025 and commencing both exploration programmes.
"Importantly, the John Bull and Tibooburra projects complement Novo’s existing high-quality Pilbara, Western Australia and Victoria exploration portfolio and, following the recent sale of our partial investment on San Cristobal Mining for A$11.5-million, we are well-funded to continue our strong exploration push in 2025,” says Novo co-chairperson and acting CEO Mike Spreadborough.
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