Novo Resources partner De Grey advances Egina exploration with strong gold results

Proactive - Interviews for investors

Novo Resources Corp (ASX:NVO, TSX: NVO, OTCQX: NSRPF) executive co-chairman and acting CEO Mike Spreadborough and general manager of exploration Kas Da Luca join Proactive’s Tylah Tully to discuss exploration across the company’s gold portfolio in Western Australia’s Pilbara region. At its joint venture Egina Gold Project, De Grey Mining Ltd (ASX: DEG) continues an aggressive exploration program, specifically targeting the Becher Project’s prospects at Heckmair, Irvine, Lowe and Whillans. The Egina Gold Project, near De Grey’s 12.7-million-ounce Hemi Gold Project, is considered highly prospective for significant gold deposits similar to Hemi. In 2023, Novo Resources completed approximately 60,000 metres of aircore and reverse circulation (RC) drilling. Since then De Grey drilled 34,180 metres of aircore and 9,129 metres of RC across the four main prospects, with key findings including 6 metres at 1.2 g/t gold at Heckmair, 4 metres at 2.1 g/t at Irvine and 8 metres at 4.7 g/t at Lowe. De Grey has met its initial A$7 million expenditure commitment and now has the right to earn a 50% joint venture interest by spending an additional A$18 million by June 2027. Exploration efforts in 2024 will focus on targeted RC and diamond drilling to expand the resource base. The Egina JV, with a combined land position of approximately 2,500 square kilometres in the Mallina Basin, remains strategically important for De Grey and Novo. #ProactiveInvestors #NovoResourcesCorp #ASX #DeGreyMining #EginaGoldProject #BecherProject #GoldExploration #MiningUpdate #MallinaBasin #HemiGoldProject #GoldProspecting #DrillingResults #ExplorationProgram #JointVenture #NovoResources #GoldDeposit #ACDrilling #RCDrilling #AustralianMining #GoldDiscovery #IntrusionGold #StrategicExploration #MiningInvestments #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews