Novo Resources Corp. press release
New Targets at the Wyloo Gold - Silver - Antimony Project for Maiden Drill Program
TSX - Toronto Stock Exchange · Gold · Platinum · Copper · Lead · Zinc · Silver · Antimony · Arsenic · Lithium · Nickel · Australia
New Targets at the Wyloo Gold – Silver – Antimony Project for Maiden Drill Program
HIGHLIGHTS
Highly encouraging exploration results have been received from the Wyloo Project, confirming multiple high priority targets.
A strong multielement soil anomaly has been defined over Wyloo SE, where a polymetallic vein system has previously been defined by Novo, including peak soil values of 57.2 ppm Ag, 142 ppm Sb, 1,440 ppm As, 2,180 ppm Zn and 1,530 ppm Pb. The anomaly remains open undercover to the SW and NE.
Follow-up exploration on the high-order Sb stream anomaly at Wyloo SW has defined a target area of 2.5 km x 800 m with peak stream sediment result of 19.9 ppm Sb and a multielement association of Sb-As-Cu-Pb-Zn.
Both Wyloo SE and SW prospects lie within the core of the Wyloo anticline, in the SE flank of the Wyloo Dome, which forms a basement high within the Ashburton Basin. The Paulsons gold deposit lies in the NE part of the Wyloo Dome, approximately 40 km WNW of Wyloo.
A heritage survey is scheduled for March to provide access for RC drilling planned to test the Wyloo SE area in Q2 2026.
The maiden drill program at Wyloo SE, of approximately 1,500 m, is planned to test the high-grade polymetallic vein system, potential for stratabound mineralisation and a large fault zone immediately south of the main target area.
Photo during reconnaissance at Wyloo SE, looking southwest from the mapped rhyolite dome.
PERTH, Australia, Feb. 09, 2026 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (ASX: NVO) (TSX: NVO) (OTCQB: NSRPF) is pleased to provide an update on the Wyloo Project, including recent exploration results and forward work program. This includes a heritage survey in March followed by a maiden RC program of some 1,500 m planned for Q2 2026 and designed to test the Wyloo SE polymetallic vein system.
Commenting on the Company’s exploration results and planned RC drilling, Mike Spreadborough, Executive Co-Chairman and Acting Chief Executive Officer, said: “The results from Wyloo SE continue to impress, with recent soil sampling defining a strong, open-ended multielement anomaly over a known polymetallic vein system. These results enhance our confidence in the scale and prospectivity of the target, and we are very excited about the conducting the maiden drill program into this compelling target.
Additionally, follow-up stream sediment sampling at Wyloo SW has expanded and strengthened the original stream sediment anomaly and has elevated Wyloo SW to a drill-ready prospect. This reinforces the broader potential of the Wyloo Project, with multiple targets now emerging for systematic drill testing.”
Figure 1: Novo Pilbara and Onslow District tenure showing significant prospects and location of the Wyloo Project in the southern Pilbara.
Regional Setting
The Wyloo project area covers two exploration tenements in the southern Pilbara (Figure 1). The Wyloo SE and SW prospects lie within the core of the Wyloo anticline, in the SE flank of the Wyloo Dome, which forms a basement high within the Ashburton Basin. It is a dynamic tectonic setting, with the regional Nanjilgardy Fault just 5 km south of the prospect. The Paulsons gold deposit lies in the NE part of the Wyloo Dome, approximately 40 km WNW of Wyloo SE.
Background 1, 2
Two significant antimony anomalies were located by Novo in the SE part of Wyloo tenement E47/4213 during routine stream sediment sampling in 2023.
Reconnaissance exploration on the eastern-most anomaly identified a zone of quartz-sulphide veining with anomalous antimony, silver, gold and base metals, at Wyloo SE (Figure 2). Seven rock chip samples yielded peak assay results of 387 g/t Ag, 0.38% Sb, 5.0% Pb, 1.6% Zn, 2.4% Cu and 0.52 g/t Au1.
Follow-up work in mid-2025 included detailed structural and regolith mapping and rock chip sampling. The latter focussed on the ENE trending vein array dipping 60 degree to the ESE for over 130 m strike and trending under cover to the SW and NE. The main vein array outcrop is up to 7 metres thick, with footwall/hangingwall zones of intense sulphide, alteration and numerous anastomsing veins; and is up to 18 m wide where exposed at surface. Rock chip sampling further enhanced the target and yielded maximum values of 482 g/t Ag, 1.29% Sb, 9.7% Pb, 16% Zn and 0.93 ppm Au 2. Several samples assayed at greater than 7% Zn.
Figure 2: Previously released peak rock chip results at the Wyloo SE prospect and geology (outcrop mapping), highlighting significant Ag, Sb, Au, Cu, Zn and Pb results from the main vein array. Much of the target area only poorly outcrops (refer Figure 3 for geological setting).1,2
Mapping at Wyloo SE has highlighted a dynamic geological setting (Figure 3):
The vein array is located on the flank of an interpreted rhyolite dome;
The vein array is parallel to a significant fault zone (the Tasha Fault) to the immediate southeast;
Presence of several subvolcanic intrusions including quartz-eye porphyry with disseminated malachite ex-sulphide (note - outcrop too small to delineate at this scale) and rhyodacite-quartz porphyry;
Jasperoidal lenses containing disseminated sulphides are either replacement or exhalitive.
Wyloo Project New Results
Recent work includes a soil grid over the Wyloo SE vein system and surrounds; and detailed infill stream sediment sampling, rock chip sampling and mapping at Wyloo SW.
This recent exploration has significantly enhanced the potential of the project, provided new targets and has allowed interpretation of several targets ready to drill in Q2 2026.
Wyloo SE
One hundred and sixty two (162) minus 80 mesh soil samples were taken at a 40 x 20 m spacing over the target area to test for mineralisation outside the obvious vein array outcrops. Sampling was restricted in places by significant colluvial cover to the west and southwest, and by alluvium along the Tasha Fault from the south to the northeast.
A strong multielement soil anomaly has been defined over 150 m strike tending parallel to stratigraphy and crosscutting the main vein array, suggesting a stratigraphic control to the anomany and target. Peak soil values include 57.2 ppm Ag, 142 ppm Sb, 1,440 ppm As, 2,180 ppm Zn and 1,530 ppm Pb. Multielement anomalies are zoned, generally trend WNW parallel to the rhyolitic volcanic stratigraphy and are open under cover (Figure 3).
Refer to Appendix 1 for full results.
Figure 3, Wyloo SE highlighting geology, soil geochemistry (Sb ppm) and structural setting. Soil anomalies are open under colluvium to the west and alluvium along the Tasha Fault Zone to the east-northeast. The multielement anomalies trend NE to E-W, oblique to the main vein array. White dashed polygon shows field of view close-up from Figure 2.
Maiden drilling at Wyloo SE is planned to target:
The main ENE trending polymetallic vein array
The Tasha Fault zone, also trending ENE
The WNW trending stratigraphy, particularly at the intersection and in the vicinity of the sulphide bearing quartz-eye porphyry.
Wyloo SW
Fifty four (54) stream sediment samples were collected at the Wyloo SW prospect, targeting first to third-order creeks to define the source of the existing stream sediment anomaly in an area of significant transported sheetwash cover.
This follow-up exploration has defined a target area of 2.5 km x 800 m with peak stream sediment values of 19.9 ppm Sb and 57 ppm As and a multielement association of Sb-As-Cu-Pb-Zn (Figure 4). Refer to Appendix 2 for full results.
Targeted selective rock chip sampling was completed over areas of outcrop, with 53 rock chip samples collected across the prospect area, targeting outcrop zones of alteration and prospective quartz veining. Refer to Appendix 3 for full results.
Within the newly defined 2.5 km x 800 m target area, only 2 small zones of outcrop are exposed in and adjacent to a NW trending creek. One of the zones is characterised by strong shearing containing a mix of schistose lithologies, vein arrays and carbonate alteration. Results from rock chip sampling highlight elevated Sb, As, Zn and Cu in outcrop, with peak results of 570 ppm As, 526 ppm Cu, 431 ppm Zn and 26 ppm Sb. Whilst these results are low tenor, they clearly indicate that a mineralising system is present. Follow-up work is requirted to define the source of the stream sediment anomaly.
Figure 4 Wyloo tenure showing high order stream sediment antimony anomalies in the southern sector of the tenement, including recently received data for the Wyloo SW anomaly
Forward Program
A maiden drilling program at Wyloo SE is planned for Q2 2026 pending heritage surveys scheduled for early March. Drilling will target the ENE trending vein array, the Tasha Fault Zone and soil anomalies parallel to stratigraphy. Sectional drilling will test the vertical metal zonation of the polymetallic system, grade and width of the mineralisation and potentail plunge of the target.
Further work at Wyloo SW will require broad sectional drilling using either AC or RC drilling to test beneath the 1 – 3 m thick sheetwash colluvial cover.
Authorised for release by the Board of Directors.
CONTACT
Investors:
Mike Spreadborough
+61 8 6400 6100
info@novoresources.comNorth American Queries:
Leo Karabelas
+1 416 543 3120
leo@novoresources.comMedia:
Cameron Gilenko
+61 466 984 953
cameron.gilenko@sodali.com
QP STATEMENT
Mrs. Karen (Kas) De Luca (MAIG), is the qualified person, as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for, and having reviewed and approved, the technical information contained in this news release. Mrs De Luca is Novo’s General Manager Exploration.
JORC COMPLIANCE STATEMENT
New Exploration Results
The information in this news release that relates to exploration results at Novo’s Pilbara tenure is based on information compiled by Mrs De Luca, who is a full-time employee of Novo Resources Corp. Mrs De Luca is a Competent Person who is a member of the Australian Institute of Geoscientists. Mrs De Luca has sufficient experience that is relevant to the style of mineralisation and the type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mrs De Luca consents to the inclusion in the report of the matters based on her information in the form and context in which it appears.
Previous Exploration Results
The information in this news release that relates to previously reported exploration results at Novo’s Pilbara tenure is extracted from the Company’s ASX announcements referred to in endnotes 1 and 2, each of which is available to view at www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the competent persons findings are presented have not been materially modified from the original market announcements.
FORWARD-LOOKING STATEMENTS
Some statements in this news release may contain “forward-looking statements” within the meaning of Canadian and Australian securities law and regulations. In this news release, such statements include but are not limited to planned exploration activities and the timing of such. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the resource industry and the risk factors identified in Novo’s annual information form for the year ended December 31, 2024 (which is available under Novo’s profile on SEDAR+ at www.sedarplus.ca and at www.asx.com.au) in the Company’s prospectus dated 2 August 2023 which is available at www.asx.com.au. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Novo assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Novo updates any forward-looking statement(s), no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.
ABOUT NOVO
Novo is an Australian based gold explorer listed on the ASX and the TSX focussed on discovering standalone gold and copper projects with > 1 Moz development potential. Novo is an innovative explorer with a significant land package covering approximately 4,160 square kilometres in the Pilbara region of Western Australia, along with the 22 square kilometre Belltopper project in the Bendigo Tectonic Zone of Victoria. In addition to the above, Novo is part of two prospective farm in agreements in New South Wales.
Novo’s key project area in the Pilbara is the Egina Gold Camp, where Northern Star Resources Limited is farming-in to form a JV at the Becher Project and surrounding tenements through exploration expenditure of A$25 million for a 50% interest. The Becher Project has similar geological characteristics to Northern Star’s 13.6 Moz Hemi Project#. Novo is also advancing gold exploration south of Becher at the Teichman Project in the Egina Gold Camp, part of the Croydon JV (Novo 70%: Creasy Group 30%). Novo continues to undertake early-stage exploration elsewhere across its Pilbara tenement portfolio.
Novo has also formed a lithium joint venture with SQM in the Pilbara which provides shareholder exposure to battery metals.
Novo has strengthened its high-quality, Australian based exploration portfolio by adding the TechGen John Bull Gold Project in the New England Orogen of NSW, and Manhattan Corp. Limited Tibooburra Gold Project in the Albert Goldfields in northwestern NSW. Both projects demonstrate prospectivity for significant discovery and resource definition and align with Novo’s strategy of identifying and exploring projects with > 1 Moz Au potential. These high-grade gold projects compliment the landholding consolidation that forms the Toolunga Project in the Onslow District in Western Australia.
Novo has a significant investment portfolio and a disciplined program in place to identify value accretive opportunities that will build further value for shareholders.
Please refer to Novo’s website for further information including the latest corporate presentation.
#Refer to De Grey’s ASX Announcement, Hemi Gold Project mineral Resource Estimate (MRE) 2024, dated 14 November 2024. No assurance can be given that a similar (or any) commercially viable mineral deposit will be determined at Novo’s Becher Project.
Appendix 1: Wyloo SE new -80# soil sample results for Au, Ag, As, Cu, Pb, Sb, and Zn, relevant to the mineralisation style and reported in this release. All co-ordinates are in GDA2020 zone 50.
Sample
ID
Easting
(m)
Northing
(m)
Height
(m)
Au
(ppb)
Ag
(ppm)
As
(ppm)
Cu
(ppm)
Pb
(ppm)
Sb
(ppm)
Zn
(ppm)
J1502b457948748276229670.03750115.1130
J1503b457960748274729820.13756136.562
J1501b457934748277829520.32545124.4103
J1504b457974748273230340.25755166.671
J1506b457999748270130221.21742726341.5112
J1505b457987748271630710.167652010.3119
J1509b458043748271229610.14744315.379
J1511b458016748274329730.14238113.4106
J1512b458005748275629600.13151112.8115
J1513b457991748277329210.12853102.5131
J1521b457913748286529220.272107117.340
J1507b458012748268629711.120512010634.0110
J1508b458026748267229520.247661411.7104
J1510b458030748272729510.12734143.960
J1524b457944748289029530.160561318.453
J1525b457957748287529620.260801216.850
J1526b457970748286030121.31876118.961
J1514b457978748278829110.0183692.8118
J1516b457966748280329310.1174392.7139
J1517b457953748281929320.3495193.2128
J1527b457983748284530210.31861115.749
J1528b457995748282930100.21838103.159
J1530b458022748279930100.0358584.228
J1518b457938748283429120.13179134.8101
J1519b457927748284929210.18868118.056
J1522b457900748288029400.13644117.746
J1531b458036748278330150.33416193.1126
J1534b458074748273730030.24154224.746
J1536b458087748272230000.063713010.848
J1523b457930748290629700.028301211.548
J1529b458009748281330010.1297193.850
J1532b458047748276830120.03335123.181
J1537b458098748270729940.0741084612.463
J1538b458113748269230040.16078197.1104
J1541b458207748264130310.1285385.285
J1533b458061748275230120.23937173.851
J1539b458123748267630210.05973188.3109
J1540b458138748266030010.2437199.6123
J1542b458195748265630300.1254785.177
J1543b458180748267230220.1324984.6102
J1552b458077748279430610.03246113.158
J1544b458169748268730220.149127103.6121
J1546b458156748270230330.343102276.899
J1547b458142748271730270.27982177.094
J1553b458065748280930610.13156102.747
J1555b458108748282031320.0715683.919
J1557b458134748278930310.03847144.432
J1548b458130748273330470.26668409.380
J1549b458117748274830310.077814413.553
J1550b458103748276330440.14993336.142
J1559b4581617482758303120.277604310.370
J1560b458173748274330260.16774209.079
J1561b4581857482727302270.151137257.083
J1551b458091748277830420.13847143.536
J1554b458095748283431600.1223782.923
J1556b458121748280530810.13742102.929
J1564b458226748268231020.0124272.455
J1566b458238748266730500.0134273.154
J1567b4582517482651299100.0224783.664
J1558b458147748277430290.149644810.252
J1562b458200748271330310.14315262.6118
J1563b458211748269730600.1294973.3105
J1569b458319748263230010.167451012.763
J1571b458294748266129610.1415596.769
J1573b458267748269230110.0213873.652
J1568b458307748264630190.14242107.861
J1572b458282748267729810.0265593.784
J1575b458241748272330700.1325285.986
J1574b458256748270830410.1254075.455
J1576b458229748273830300.1325493.497
J1578b458204748276830480.395102299.082
J1577b458217748275430450.391953012.886
J1579b4581917482784305110.272833010.162
J1581b458165748281529710.12846193.939
J1580b4581797482800291120.268804512.056
J1584b458126748286131420.14650135.043
J1586b458114748287631410.13048103.736
J1582b458152748282930020.13956173.335
J1583b458139748284530500.03135112.927
J1590b458158748288730450.12447143.738
J1587b458083748285032310.03630102.932
J1588b458053748282430910.12968102.636
J1589b458145748290230410.02445123.768
J1591b458170748287130220.12443223.240
J1594b458208748282530250.167653511.844
J1596b458221748281030220.14677307.358
J1592b458182748285630170.22354714.142
J1593b458196748284130110.15388509.543
J1599b458260748276530370.275902810.568
J1597b458235748279530350.25190389.673
J1598b458247748277930760.36696287.768
J5309457882748265429501.4612358075.5134
J1600b458272748274930410.178103227.384
J5308457894748263929611.0939305747.9106
J5314457816748273129220.2219881620.762
J5310457869748266829526.247551102110.0195
J5311457856748268529500.45011104081.8187
J5312457841748270029500.0461641847.770
J5313457830748271529400.0260572130.159
J5316457804748274529120.2315501617.957
J5317457793748276128930.0177641515.065
J5319457810748280229010.0263661717.862
J5322457835748277229600.1215571514.555
J5328457912748267930010.82241165989.8222
J531845778074827762891050.1110391311.652
J5321457825748278729310.0317611514.155
J5323457847748275729310.0299361217.643
J53294579247482663302157.21440821530142.0255
J5334457956748269030400.237647416111.5162
J53394579047482752292160.1971001218.672
J5341457878748278229470.5291641112.663
J5344457840748282829210.119695147.956
J5346457869748285429110.17768125.384
J5347457882748283929200.01033495.975
J5359458201748289730320.13654245.441
J5360458188748291230540.23073244.451
J5361458176748292730310.02439163.239
J5363458217748293830410.14065266.639
J5364458231748292330810.04181277.233
J5366458244748290730620.24456237.636
J5367458257748289230340.25967299.242
J5371458295748284731070.3931385410.863
J5324457861748274129510.1391701622.467