Novo Resources Details 2026 Drill Plan: Pilbara Q2 Push, Belltopper Targets and Antimony Focus

Novo Resources (ASX:NVO) outlined a busy 2026 field season focused on advancing a mix of greenfields and more mature exploration assets across Western Australia, Victoria, and New South Wales, with drilling activity in the Pilbara planned between April and September.

In remarks delivered during a company presentation, management emphasized Novo’s identity as a “discovery-driven” explorer with a pipeline ranging from early-stage target generation through to drill-ready projects. The company noted that junior greenfields exploration has attracted less funding in recent years compared with brownfields work, positioning Novo’s strategy around building and progressing targets while remaining disciplined on spending.

Project pipeline and near-term focus

Novo described its portfolio as “stacked” toward earlier-stage greenfields opportunities in the Pilbara, while also highlighting a set of “unloved” but historically drilled projects that have produced encouraging past results. The company said its near-term efforts would be weighted to what it can achieve in the first half of the year, with a particular emphasis on Western Australia.

The company also pointed to newer assets in New South Wales—John Bull and Tibooburra—added to the pipeline in late 2024 as advanced exploration targets. Management said both are drill-ready, with timing dependent on when Novo can mobilize resources to those areas.

Belltopper in Victoria: updated exploration target and drilling preparation

Novo highlighted progress at its 100%-owned Belltopper Gold Project in Victoria, contrasting its relatively small footprint (about 22 square kilometers) with the company’s much larger land position in the Pilbara. Management said it has worked on Belltopper for nearly six years and views the asset as being located in a prolific gold region: the Bendigo Tectonic Zone, where more than 60 million ounces of gold have been produced historically.

The company said it recently released a new and updated exploration target for Belltopper, referencing a February 11 news release that details the methodology and supporting metrics. Management attributed the target to historical high-grade reef mining, noting the team has built accurate 3D models of old workings, mapped surface expressions, and assessed continuity along strike. Novo added that it has taken a conservative approach by incorporating eight reefs in its current system interpretation.

Looking ahead, Novo said it is developing diamond drilling targets and aims to advance toward drilling in the second half of the year, while noting that compliance and permitting processes in Victoria can move slowly.

Pilbara and Onslow: district-scale land position and multiple targets

In Western Australia, Novo described a large land position stretching across the Pilbara from near Port Hedland toward Karratha, with additional ground farther south near Wyloo and a separate district-scale effort near Onslow. At Toolunga, the company cited more than 1,500 square kilometers of ground and said it is waiting on tenement grants before executing planned field checking and “field truthing” of designed targets.

Management focused on several priority areas for 2026 activity:

• Mallina Basin JV with Northern Star: Novo outlined a joint venture land package of nearly 2,500 square kilometers in the Mallina Basin, prospective for intrusion-related targets (similar in style to Hemi) as well as sediment-hosted/orogenic systems described as “Withnell-type.” The company said activity had been slower during the transition following Northern Star’s takeover of De Grey, but that targets remain and could be drilled later in the year.
• Teichman (Egina Gold Camp JV with the Creasy Group): Novo said it gained access last year to the northern part of the Egina Gold Camp, an approximately 80-kilometer corridor associated with major shear zones. The Teichman area lies within the Yandeyarra Reserve, where access has historically been challenging; Novo said it now has a working relationship with traditional owners and local station management that enabled field programs. The company reported “spectacular results” from initial work, including rock chip grades described as over three ounces of gold and an interval reported at Mountain Maid of more than 30 g/t gold. Novo also noted copper and silver “flavor” in the Northern Pride Trend and said these trends extend for more than 1 kilometer each and continue under cover. RC drilling is planned for the second half of the year.
• Balla Balla (Sholl Shear): Novo described this as a more conceptual target area tied to the Sholl Shear, which it said is known to be fertile for copper and gold in the broader Karratha district. Scout aircore drilling completed last year identified alteration at Ram Quarry along with low-level gold and associated pathfinder elements including bismuth, antimony, and silver. Novo said it plans infill drilling early this year.
• Wyloo antimony prospects: Novo called Wyloo a “new find” built from regional reconnaissance work in 2023, now featuring two prospects—Wyloo Southwest and Wyloo Southeast. Management highlighted high antimony values in rock chips across the area. Wyloo Southeast was described as the most compelling target at present, featuring a vein array system with high-grade antimony and silver, some gold, and indications of copper-lead-zinc mineralization. The company said it needs drilling to better understand the system and has “maiden drilling” planned around April (Q2). Novo added that heritage clearance is complete and a survey is planned for March.

Work plan sequencing and financial snapshot

Novo summarized its planned sequencing as Pilbara drilling in the second quarter, moving to Teichman around mid-year, and returning to the Pilbara later in the year. In parallel, it hopes to conduct work at Tibooburra and/or John Bull when scheduling allows. Belltopper diamond drilling is expected to be advanced through the latter half of the year and could extend into 2027 to support the exploration target.

On the corporate side, management said the company’s market capitalization is around A$50 million and that it ended December with approximately A$8 million in cash. Novo also referenced an additional portfolio it views as a “war chest” to draw on for future drilling campaigns.

In closing, the company reiterated that it believes it has a strong technical team, a diversified pipeline led by what it described as the “crème de la crème” of its prospect portfolio, and the funding support to execute planned drilling and exploration programs.

About Novo Resources (ASX:NVO)

Novo Resources Corp., together with its subsidiaries, engages in evaluating, acquiring, exploring, and developing natural resource properties in Canada, Australia, and the United States. The company primarily explores for gold deposits. It holds approximately 7,500 sq km of land in the Pilbara region of Western Australia, as well as interests in various projects located in Victoria, Australia. The company was formerly known as Galliard Resources Corp. and changed its name to Novo Resources Corp. in June 2011.