Standout Results From Becher Aircore Drilling Along Trend From Hemi Gold Deposit

VANCOUVER - Novo Resources Corp. reported on the drilling program in the Becher Area of the Egina District, Western Australia. Exploration programs testing high-priority structural and intrusive-related gold targets are in progress after two heritage surveys were recently completed at the Becher Area. The exploration programs comprise of systematic regional aircore drilling, with over 650 holes for 16,500 m of a > 30,000 m program completed to date and a deeper RC drilling program, which will follow-up significant aircore results and test discrete drill targets within the Becher Area, scheduled to commence in November 2022. The Becher Area drilling program is expected to continue in 2023. The Becher Area aircore drilling complements the previously announced surface soil anomaly at Nunyerry North, which is also located within the Egina District and approximately 80 km south of Becher.

Initial results generated from drilling at Becher Area and Nunyerry North reconfirm the potential of the Egina District to support a standalone production hub, with follow-up drilling to test multiple targets in 2023. Results referred to in this news release are not necessarily representative of mineralization throughout the Egina District.

The Becher Area (northern E47/3673, 100%-owned by Novo) contains multiple priority orogenic gold targets in the highly prospective and under-explored Mallina Basin. The area is located ~28 km to the WSW of De Grey’s Hemi gold deposit2. Novo’s interpretation of a series of significant shear corridors, including the ENE trending Irvine and Bonatti Shears (part of the regional Wohler Fault using GSWA 1:100,000 scale mapping nomenclature) and the EW trending Whillans and Heckmair Shears, is key to delineating these newly defined targets.

The current > 30,000 m aircore drilling program commenced in early September 2022, with over 650 holes for 16,500 m completed to date. 16 regional traverses at approx. 640 m line spacing and 25 m hole spacings have been completed along the Irvine Shear and Whillans Shear, with the opportunity to infill to 320 m spaced lines now possible given the recently completed second heritage survey on E47/3673. Drilling was designed as part of a large-scale systematic targeting program, supported by recent high resolution geophysical data sets, in conjunction with field mapping and sampling and research of all relevant historical data.

Aircore drilling is best suited to areas with abundant cover or oxidation, easily drilling through unconsolidated or saprolitic material testing for gold and pathfinder element (arsenic, antimony, bismuth, tellurium, etc.) anomalism to identify broader zones of geochemical dispersion. A minimum of 30,000 m of aircore drilling has been planned for 2022, however Novo expects this to be exceeded. The program will test four shear corridors and numerous sanukitoid targets, as well as antimony-arsenic-gold soil anomalies defined by previous explorers. Results have been received from the first assay batch of 4 m composite samples analyzed by PhotonAssay for the southernmost drill lines on the Irvine Shear Corridor. Four zones for infill aircore drilling have been identified from geological logging and current assay return. 1 m split samples and multielement assays are pending for anomalous drill holes.