Novo Resources Corp. (TSX:NVO; ASX:NVO) is ramping up exploration at its Tibooburra Gold Project in northwestern New South Wales, with a ~2,000 metre reverse circulation (RC) drill program scheduled to begin this month at the high-potential Clone prospect.
The decision follows encouraging results from a recent surface exploration campaign, including rock chip samples returning grades of up to 89.6 g/t Au, along with a coherent 600-metre soil anomaly showing values as high as 1,585 ppb Au. The Clone Thrust and related splays have emerged as significant mineralised structures, with historical RC drilling by Manhattan Corporation (ASX:MHC) in 2023 returning standout hits such as 7 m at 7.23 g/t Au and 9 m at 6.03 g/t Au.
“Tibooburra is shaping up to be one of the more compelling grassroots exploration plays in Australia this year,” said James Knox, mining analyst at Northern Ridge Capital. “The Clone target in particular is showing scale, grade, and structural complexity—traits that often define major gold systems.”
The upcoming drill program will test along a 700-metre strike zone to follow up on prior intercepts and probe down-dip and down-plunge extensions. Novo is aiming to validate continuity of mineralisation and assess potential for deeper, ‘blind’ discoveries beneath cover sediments that stretch for over 15 km.
“We believe there’s strong potential to unlock a significant high-grade system here,” said Mike Spreadborough, Executive Co-Chair and Acting CEO of Novo. “This program is the first step in what we expect to be a very active exploration year.”
Analysts agree the strategic location of the project adds to its appeal. The Tibooburra region sits at a geological junction between the Thomson and Delamerian orogens and remains underexplored despite over 200 historic workings on site.
“It’s a district-scale opportunity that hasn’t seen systematic modern exploration until recently,” said Rosa Lin, resources sector specialist at Hamilton GeoEquity. “Novo has the technical team and partnerships in place to make the most of it, especially given their strong capital discipline and recent project acquisitions.”
The Clone prospect lies within a broader land package of 630 sq km under option from Manhattan Corporation, where Novo can earn a 70% interest by meeting staged exploration spend thresholds over two years.
In addition to Clone, other prospects like New Bendigo and Pioneer remain largely untouched by modern drill programs. Surface mapping, soil sampling, and structural analysis across the area have revealed multiple mineralised trends—some of which may be connected or part of a broader orogenic system.
Novo expects assay results from the RC program by mid-2025. Investors will be watching closely for signs that Clone could evolve into a meaningful high-grade resource.