ASX: NVO - Novo Resources
- Matt Birney
- 20 hours ago
- 4 min read
Novo Resources: Victorian gold is back baby - and this project is in the thick of it with grade and scale
Novo Resources Executive Chairman Mike Spreadborough on 3AW, 2GB, 4BC & 6PR Bulls N' Bears Report
Listen to ASX-listed Novo Resources Executive Chairman Mike Spreadborough talk to Matt Birney on the Bulls N’ Bears Report about Novo’s big exploration target upgrade at its Victorian project with grades that make you feel all warm and fuzzy!
TO LISTEN TO THE NOVO RESOURCES AUDIO INTERVIEW - CLICK BELOW
Novo Resources had some greenfields gold and critical minerals projects in WA’s Pilbara, some more advanced gold plays in NSW and its high grade Belltopper gold project near the famous Fosterville gold neighbourhood in Victoria. The company has just upgraded the potential scale of its exploration target at Belltopper after a deep dive on historic workings, drilling and 3D modelling and it would appear that Victorian gold is starting to become a thing again and Belltopper just might be at the vanguard of that resurgence.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears, brought to you today by gold and critical minerals explorer, Novo Resources
Matt Birney - ASX code: NVO
Matt Birney - I'm Matt Birney, and I'm joined now by the Executive Chairman of Novo Resources, Mike Spreadborough.
Matt Birney - Hi, Mike.
Mike Spreadborough - Hi, Matt.
Matt Birney - Okay, so Novo Resources had some greenfields gold and critical minerals projects in WA’s Pilbara, some more advanced gold plays in NSW and its high grade Belltopper gold project near the famous Fosterville gold neighbourhood in Victoria. The company has just upgraded the potential scale of its exploration target at Belltopper after a deep dive on historic workings, drilling and 3D modelling and it would appear that Victorian gold is starting to become a thing again and Belltopper just might be at the vanguard of that resurgence.
Matt Birney - Okay, Mike, this Belltopper gold project, just briefly describe the geology there. What's the mineralization model?
Mike Spreadborough - Yeah, so Belltopper is just south of Castlemaine. Big historical exploration and you know, gold mining in the past. The whole system is, you know, seven to eight high-grade quartz vein reefs.
Matt Birney - Okay. Now, you've just upgraded the expiration target at Belltopper by about 40 to 50% I might add. What's that target now? Give me the long form.
Mike Spreadborough - Yeah yeah. So, there's 460 to 880,000 ounces in that range. So, just think 880,000 ounces is a big number. Grade is really high grade, 6.7 to 8.9 grams per tonnne.
Matt Birney - Yeah, serious grades. I suspect they probably lend themselves to toll treating. Are there any plants in the area that could process your ore? Is that the plan?
Mike Spreadborough - Yeah. So, very high grade that you've heard. So, we're going to do some drilling now to firm that up. But in the long run, there's Kaiser Reef plant north of us. There's the Fosterville processing plant that many people would know. And there's Costerfield plant. So, there's lots of processing capacity near this discovery. So that's great.
Matt Birney - Break down that exploration target for me. Which reef carries the biggest chunk of ounces and how many ounces?
Mike Spreadborough - Yeah. So we really liked our O'Connor's reef. You know, 130,000, 270,000 ounces. And also Leven Star, you know, that's 90 to 130,000 ounces. So they're the two big ones that will drive future work.
Matt Birney - Back in WA, your Wyloo silver and antimony project is showing some really interesting signs, I might say, of mineralization at surface. How big is that surface footprint now? And what are some of the best rock chips there to date?
Mike Spreadborough - So, a great discovery by our team. So, we're looking at 2 kilometres of soil and high-grade rock chips. So, it's really exciting.
Matt Birney - And what sort of numbers?
Mike Spreadborough - Well, great numbers in silver. 482 grams per tonne silver, 1.29% antimony. We're seeing high zinc, 16% zinc, and just to round it out, a bit of gold. So, it's really is a critical minerals anomaly that we're going to chase and drill in April.
Matt Birney - Okay. I notice you've got both Mark Creasy and Northern Star Resources sitting at the top of your share register. So, you must be doing something right.
Matt Birney - Mike Spreadborough from Novo Resources.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
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