Novo Resources Corp. (TSX: NVO) has formalised its partnership for the Tibooburra gold project in New South Wales, marking a transition into the next phase of exploration at the site. Following the execution of a joint venture and option agreement with Manhattan Gold Corporation Limited, the company is preparing for a ~2,700 metre reverse circulation drilling campaign. This program is expected to begin in late Q3 2026, subject to the finalisation of necessary regulatory and landholder approvals.

The upcoming drilling will focus on two distinct areas: the Clone prospect and the Pioneer South target. At Clone, the objective is to test northern extensions of high-grade mineralisation previously identified in earlier exploration efforts. Meanwhile, the work at Pioneer South represents an initial test of a 600-metre trend characterized by historical surface workings and gold-bearing quartz reefs. This effort aims to evaluate the continuity of mineralization along this prospective structure.

In addition to the drilling, the company plans to conduct systematic surface exploration across the project area for the remainder of 2026. This secondary stream of work involves regional stream sediment sampling, geological mapping, and soil geochemistry. These surface programs are intended to define new anomalies and build a pipeline of targets to guide future exploration activities. The integration of these surface results with upcoming drill data is designed to refine the geological understanding of the broader mineralised corridor.

The formalisation of the joint venture provides a structured path for the company to secure an interest in the tenements. Under the agreement, the company is committed to a total expenditure of A$1.5 million to exercise its option, with the majority of this amount already deployed as of mid-2026. Should the option be exercised, the company stands to earn a 70% interest in the project’s mineral rights. The current focus remains on executing the planned drilling and surface programs to assess the potential of the underlying gold system while maintaining the operational requirements set out in the new agreements.

Read the full announcement: Novo releases Tibooburra Gold Project Update