Novo Resources Corp. (Novo or the Company) (ASX: NVO) (TSX: NVO) (OTCQX: NSRPF) is pleased to provide an exploration update on programs at the Egina Gold Camp and Balla Balla Gold Project, including results from RC drilling at Nunyerry North (Figure 1) and the recent Determination Wide Aboriginal Heritage Protection Agreement with the Kariyarra Aboriginal Corporation which will allow for on ground exploration to commence at Balla Balla and ongoing work by De Grey on the Becher Project at the Egina farm-in and Joint Venture.

Novo has been exploring the Mallina Basin and adjacent areas in the Pilbara since 2017, focusing on gold prospectivity but also with a view to adding value through lithium, base metals and other commodities.

This work culminated in 2023 with considerable success delivered from drilling at Nunyerry North and through the completion of transformative deals with De Grey Mining (De Grey) (the Egina farm-in and Joint Venture (Egina JV)) and Sociedad Quimica y Minera de Chile S.A. (SQM) (the Harding Battery Metals Joint Venture (HBMJV)). These strong JV partnerships give Novo exposure to a new discovery through JV partner expenditure and allows Novo to focus on progressing exploration across targeted prospects in the Pilbara and Victoria and advance assessment of project generation opportunities.

Figure 1: Novo Tenure in the Central Pilbara showing the Egina Gold Camp and Balla Balla Gold Project

EGINA GOLD CAMP

The Egina Gold Camp is a contiguous tenement package, covering a series of structurally complex, gold-fertile corridors, transecting the Mallina Basin in the north and mafic / ultramafic sequences further south.

These corridors are part of the regional structural architecture that encompasses De Grey’s 12.7 Moz Hemi Gold Project (Hemi)3 to the northeast. This tenure has been one of the main focus areas of Novo’s exploration programs over the last eighteen months, culminating in the Egina JV, and delineation of the Nunyerry North orogenic gold prospect in 2023.

Nunyerry North

First pass drilling at Nunyerry North in late 20234 was restricted to a central zone of structurally controlled outcropping quartz veins with high-grade gold rock chip results (Figure 2).

Figure 2: Nunyerry North geological interpretation, showing 2023 and 2024 drilling completed

Drilling generated significant intercepts in Main Lode #1 in a shallow plunging shoot within a brittle basalt unit, between two significant shear zones. Other mineralised lodes were identified below the Main Lode #1, but are structurally blind, and do not outcrop at surface.

Best results from the 2023 RC program include:

  • 6 m at 6.12 g/t Au from 37 m, including 5 m at 7.28 g/t Au from 37 m (NC017)
  • 11 m at 2.52 g/t Au from 22 m, including 6 m at 4.19 g/t Au from 22 m (NC014)
  • 13 m at 1.89 g/t Au from surface, including 4 m at 2.56 g/t Au from 3 m (NC004)
  • 4 m at 5.71 g/t Au from 40 m, including 3 m at 7.47 g/t Au from 41 m (NC015)
  • 17 m at 1.34 g/t Au from 37 m, including 4 m at 3.77 g/t Au from 50 m; 18 m at0.60 g/t Au from 75 m and 7 m at 1.78 g/t Au from 59 m (NC022) – highlighting significant mineralisation over a 55 m intercept.

Novo recently completed a follow-up RC drill program of 34 holes for 3,942 m aimed at extending known mineralisation in the Main Area and at testing other more regional targets defined by soil sampling, mapping and rock chip sampling (Figure 2). These regional targets included the Estrid Fault, west of the Aurora Fault (‘Aurora West’) and a porphyry unit south of the Skadi Shear (‘Porphyry’).

Angled drill holes ranged from 66 m to 192 m in depth (average 116 m) and were drilled on 40 m to 80 m spaced sections. All holes were drilled oriented perpendicular to the interpreted mineralised trend, with the intersected widths representative of the true width of the mineralisation unless noted otherwise.

Main Area - Drilling was designed to extend mineralisation along strike to the east of, and down plunge of the Main Lode #1 and to understand the context of previous high-grade intercepts in the east of the area drilled in 2023. Best results (Figure 3) from the latest drilling include:

  • 9 m at 2.52 g/t Au from 87 m, including 2 m at 8.89 g/t Au from 92 m (NC061)
  • 2 m at 7.38 g/t Au from 42 m (NC051)
  • 11 m at 1.26 g/t Au from 85 m, including 4 m at 2.31 g/t Au from 85 m (NC053)

See Appendix 1 for hole details and Appendix 2 for complete assay results.

Drilling has extended known mineralisation by 250 m to approximately 500 m in strike (Figure 3). NC061 intersected the Main Lode # 1 approximately 100m down plunge of 2023 drilling extending the plunge extent to over 300m. An additional mineralised shoot is also interpreted towards the east, possibly related to a splay fault recognised from chips and surface mapping. Mineralisation is still open to the east and at depth.

Anomalous and significant results from the current program are currently being re-analysed by multi-pot PhotonAssay™. The larger sample methodology may better resolve any coarse gold component. These assays are pending.

Figure 3: Nunyerry North long section (looking NNW) showing m x g/t Au (downhole width)

Estrid Fault

Three holes were drilled into the Estrid Fault target where high-order soil anomalies and surface alteration and veining defined the mineralised corridor. All three holes generated significant gold intercepts, including:

  • 13 m at 2.68 g/t Au from 66 m, including 3 m at 10.41 g/t Au from 66 m (NC046)
  • 11 m at 2.20 g/t Au from 84 m, including 1 m at 18.06 g/t Au from 86 m (NC046)
  • 2 m at 6.30 g/t Au from 15 m (NC062)
  • 17 m at 1.85 g/t Au from 25 m, including 7 m at 3.55 g/t Au from 25 m (NC063)

See Appendix 1 for hole details and Appendix 2 for complete assay results.

Hole NC046 intersected strong silica-sericite alteration (Figure 4).

Figure 4: NC046 drill chips showing altered basalt, labelling assay result (Au, top) and mineral / alteration intensity / vein percent (bottom).

None of the drilling was at optimal angles due to the terrain and these holes may have drilled at low angles to mineralisation along the fault, although true orientation of mineralisation cannot be determined at this stage. Mineralisation is open along strike for several hundred metres.

Porphyry Target - Three holes were drilled into the Porphyry target where Novo rock chip samples have returned several positive results from brecciated quartz veins5. The porphyry is up to 1 km long by 85 m wide in outcrop and disseminated pyrite is common throughout, with areas showing up to 5% disseminated to blebby pyrite.

Drilling intersected a porphyritic rhyolite to rhyodacite with pyrite (+/- chalcopyrite) mineralisation, with a best result of 7 m at 0.1 g/t Au, coinciding with elevated pXRF assays on RC powder of up to 0.21% Cu.

Results to date do not warrant immediate follow up in the direct target area. However anomalous Au and Cu results are encouraging for exploration prospectivity in the district, as porphyry style mineralisation was not previously recognised in this area.

Aurora West – A broad soil anomaly was tested at Aurora West, in stratigraphy interpreted to be the offset basalt host to mineralization at the Main Lode #1. Whilst quartz veins and minor sulphide were intersected in a number of holes, no significant intercepts were recorded.

Egina JV Update

De Grey is currently progressing the first stage of its earn-in at the Egina JV, with a minimum spend of A$7 million to be completed in 18 months (December 2024). De Grey needs to invest up to A$25 million on exploration at Becher and adjacent tenements within 4 years to earn a 50% direct interest in the JV.

Follow-up aircore (AC) and RC drilling programs commenced at Novo’s flagship Becher Project by De Grey in late May 2024, with two rigs concurrently conducting a proposed approximate 28,000 m combined drill program. The RC drill program is focussed initially at Heckmair and has been designed to follow up on encouraging results at Lowe, Heckmair, and Whillans.

The AC drill program has commenced at Lowe and aims to provide better geochemical coverage over structural and intrusion targets. At 30 June 2024, a total of 38 RC holes for 4,975 m and 201 AC holes for 16,955 m had been completed. Results are expected in late Q3 2024.

Tabba Tabba Shear Corridor

The Tabba Tabba Shear Corridor is a deep NE trending mantle tapping structure/series of structures in the Southern Egina Gold Camp (Figure 1) and host to numerous gold occurrences.

The 60 km strike of the Tabba Tabba Shear Corridor on Novo tenure (Figure 5) is underexplored, as access is difficult and significant parts of the corridor are covered with shallow alluvium, colluvium and sand, and part of the corridor is overlain by Fortescue Group Basalt.

Novo have recently completed a re-interpretation of the corridor utilising new advances in understanding from geology, geochemistry, and remote sensing/geophysics, and based on results from Nunyerry North, previous reconnaissance style exploration during 2019 to 2023 and the understanding of Hemi. Several conceptual targets have been identified, with most having received little to no historical exploration.

Figure 5: Tabba Tabba Shear Corridor

Conceptual targets focus on structural intersections of faults and shears within the Tabba Tabba Shear Corridor, particularly where folded stratigraphy and / or minor intrusions are noted.

The Kilkenny prospect was explored by Kilkenny Gold NL (Kilkenny) in the late 1990s and comprised several short costeans and 18 shallow percussion holes for a total of 530 m drilled, following up a coherent gold in soil anomaly. Despite the very small program, Kilkenny returned best costean samples of 8 m at 4.2 g/t Au, 8 m at 2.1 g/t Au, and drilling results of 5 m at 5.0 g/t Au from 9 m (ACN05) and 5m at 1.7 g/t Au from 14 m, including 2 m at 3.5 from 14 m (ACN13)6.

See Appendix 3 for hole details and Appendix 4 for complete assay results.

At Teichman Top, several historic workings are present, and modern exploration includes results of 25.5 g/t Au and 32.3 g/t Au from rock samples7. This prospect is located within the Yandeyarra Reserve and has not been accessible in recent years due to the requirement to complete access agreements.

Drilling and surface sample results may not be representative of mineralisation in the district.

Novo has recently commenced mapping and surface sampling over prospective parts of the Tabba Tabba Shear Corridor to delineate targets for potential future drill testing. The initial program comprises six mapping areas and approximately 1,200 surface soil samples, with opportunistic rock and stream sediment samples where appropriate.

BALLA BALLA GOLD PROJECT

The Balla Balla Gold Project (Figure 6) includes Novo granted tenements and tenement applications immediately north of the Egina Gold Camp (Figure 1) and overlaps with the Kariyarra and Ngarluma / Yindjibarndi Native Title Determination areas.

Novo reports that a Determination Wide Aboriginal Heritage Protection Agreement (the Agreement) has been signed between Novo and the Kariyarra Aboriginal Corporation. The execution of this Agreement streamlines the interactions between Novo and the Kariyarra People and confirms Novo’s commitment to open, honest and transparent dealings with the Traditional Owners of the Pilbara Region. The Agreement also provides for compensation payments for the benefit of the Traditional Owners which are customary and in line with normal commercial terms for similar agreements of this nature.

The Agreement enables the grant of tenement application E47/4703 at Balla Balla, which is prospective for gold, base metals, and lithium mineralisation. A cultural site avoidance heritage survey has already been completed with Kariyarra, jointly organised by Novo and SQM with a final report expected within the next few weeks. This survey will enable AC drilling to commence after the grant of the tenement.

The Balla Balla Gold Project covers a significant flexure of the Sholl Shear Zone, a major crustal suture between the Central Pilbara Tectonic Zone and the Karratha Terrane. The Sholl Shear Zone is a NE – SW striking mylonite zone, trending parallel to the Mallina Shear and Tabba Tabba Shear Corridor, with a series of linking structures, including the Loudens Fault and Wohler Shear. Novo holds approximately 60 km of strike length over the Sholl Shear Zone at Balla Balla, including several splay structures.

Figure 6: Balla Balla Project geology showing Sholl Shear Zone corridor and complex folded stratigraphy

The Sholl Shear Zone and surrounds are prospective for orogenic and intrusion related gold, base metal mineralisation and lithium, and Novo intends to rapidly progress exploration by regional AC traverses over key targets.

Novo retains upside to this lithium potential with the HBMJV, where SQM have paid A$10M for a 75% interest in five of Novo’s tenements. Under the HBMJV, SQM will be the manager and Novo is free carried until a decision to mine. Novo also retains the gold, silver, PGE, and copper / lead / zinc mineral rights8.

Balla Balla AC Drilling

Several conceptual targets on Novo’s tenure have been identified through comprehensive analysis and interpretation of geophysical and remote sensing data, existing geochemical datasets and searches through historic reporting over the broader area. Many of these targets have received little to no historical exploration presenting new opportunities for discovery and development.

Tenement application E47/4703 shows significant geological complexity in magnetic data in proximity to the deep mantle tapping Sholl Shear Zone. South of this shear, the stratigraphy comprises interbedded varying sedimentary units of the Mallina Formation and to the north is a fault-bound wedge of Mallina Formation adjacent to felsic volcaniclastics and porphyry dacites & rhyolites of the Red Hill Volcanics. These are also intruded by the young mafic-ultramafic rocks of the Sherlock Intrusion and crosscut by late dolerite dykes (Figure 6).

The complex geological setting and evidence of folded stratigraphy in a potential extension of the Loudens Fault provides a compelling region for a first pass AC drilling program primarily targeting gold and copper mineralisation. Novo has designed a preliminary 8,000 m AC program pending tenement grant and finalisation of the heritage survey. Drilling is expected to commence in Q4 2024.

The program comprises regional drill lines to test approximately 10 km of target strike extent. Lines are designed at a nominal spacing of 320 m or 640 m, preferentially targeting interpreted structures and fold closures. This program will utilise the same refined and optimised in-field sampling methodology and dispatch as that used at the Becher Project during 2023 AC drilling. The technique led to rapid sample collection, dispatch and laboratory turnaround times.

This program is aimed at determining bedrock geochemistry to generate a coherent litho-geochemistry dataset driving geological understanding and enabling identification of mineralogical systems and their primary controls.

ANALYTIC METHODOLOGY

Nunyerry North RC chips were split directly off the cyclone on the drill rig at one metre intervals and sent to Intertek Genalysis (Intertek) in Perth, Western Australia with the entire sample smart crushed to -3 mm (NVO02 prep code), with a 500 g split sample analysed for gold using PhotonAssay™ (PHXR/AU01). Remaining drill spoil was retained on site in numbered green bags.

QA/QC for RC samples are inserted at the rate of 2 x 600 g standards per 100, 2 x 600 g blanks per 100 and 4 duplicates per 100, providing a total of 8% QA/QC. Field duplicates are collected from the cone splitter at the time of drilling. Intertek also inserts PhotonAssay™ blanks and certified standards at the rate of 4 per hundred.

All significant sample intervals greater than 0.3 g/t Au or part of an interval that falls within an interpreted mineralisation shape were resubmitted for multiple PhotonAssay™ analysis. This comprised a total of 265 samples, selected from remaining crushed material available in the laboratory, averaging four pots per analysis. Samples were analysed ‘in full’ by splitting the crushed material into multiple PhotonAssay™ jars (PHXR/AU01) with a maximum of five jars.

Kilkenny constructed trenches through soil and rubble to ensure sampling could target rock in situ. Samples were collected by hand over two metre intervals along the trench and perpendicular to stratigraphy, with most costeans approximately 20 metres long. Samples were submitted to Genalysis Laboratories and analysed for gold via Fire Assay (AAS, 0.01 g/t detection limit).

Drilling by Kilkenny was completed with a 600cfm/250psi AC hammer rig, with each meter captured in green bags which have since been rehabilitated. From the green bags, four metre composite samples were speared and submitted to Genalysis Laboratories and analysed for gold via Fire Assay (AAS, 0.01 g/t detection limit). Composites greater than 1 metre were speared on site and resubmitted for re assay.

Kilkenny does not report duplicate samples or insertion of CRMs or blanks, and historical results are not considered representative of mineralisation in the district.

Authorised for release by the Board of Directors.

CONTACT

Investors:Mike Spreadborough +61 8 6400 6100 info@novoresources.com North American Queries:Leo Karabelas+1 416 543 3120leo@novoresources.com Media:Cameron Gilenko+61 466 984 953cameron.gilenko@sodali.com  
       

QP STATEMENT

Mrs. Karen (Kas) De Luca (MAIG), is the qualified person, as defined under NI 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.

There were no limitations to the verification process and all relevant data and records were reviewed and verified by a qualified person (as defined in NI 43-101).

JORC COMPLIANCE STATEMENT

The information in this news release that relates to exploration results for Novo’s gold project portfolio in the Pilbara 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.

The information in this news release that relates to previously reported exploration results at Nunyerry North is extracted from Novo's announcement titled Upgraded Nunyerry North Drill results deliver high-grade intercepts up to 6.12 g/t Au released to ASX on 27 March 2024 and 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 news release, and that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market.

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, 2023 (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 focused on discovering standalone gold projects with > 1 Moz development potential. Novo is an innovative gold explorer with a significant land package covering approximately 6,700 square kilometres in the Pilbara region of Western Australia, along with the 22 square kilometre Belltopper project in the Bendigo Tectonic Zone of Victoria, Australia.

Novo’s key project area is the Egina Gold Camp, where De Grey Mining (ASX: DEG) is farming-in to form a JV at the Becher Project and surrounding tenements through exploration expenditure of A$25 million within 4 years for a 50% interest. The Becher Project has similar geological characteristics as De Grey’s 12.7 Moz Hemi Project9. Novo is also advancing gold exploration at Nunyerry North, part of the Croydon JV (Novo 70%: Creasy Group 30%), where 2023 exploration drilling identified significant gold mineralisation. Novo continues to undertake early-stage exploration across its Pilbara tenement portfolio.

Novo has also formed lithium joint ventures with both Liatam and SQM in the Pilbara which provides shareholder exposure to battery metals.

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.

Appendix 1 - Nunyerry North 2024 RC drill hole locations in MGA_2020, zone 50

HOLE ID EASTING (m) NORTHING (m) RL (m) AZI DIP DEPTH (m)
NC031 590,615 7,619,399 272 300 -56 126
NC032 590,597 7,619,408 273 299 -51 96
NC033 590,559 7,619,386 277 297 -51 120
NC034 590,592 7,619,364 276 298 -60 90
NC035 590,504 7,619,362 271 296 -55 108
NC036 590,526 7,619,353 271 303 -70 120
NC037 590,376 7,619,320 280 341 -80 120
NC038 590,375 7,619,321 281 334 -50 120
NC039 590,206 7,619,328 295 331 -55 144
NC040 590,215 7,619,310 292 332 -74 120
NC041 590,142 7,619,299 279 341 -55 126
NC042 590,142 7,619,281 278 345 -73 90
NC043 590,057 7,619,273 273 341 -54 132
NC044 590,091 7,619,228 275 340 -55 114
NC045 590,107 7,619,210 271 339 -54 120
NC046 589,956 7,619,303 283 257 -70 138
NC047 590,252 7,619,131 281 25 -54 120
NC048 590,321 7,619,098 283 28 -53 126
NC049 589,322 7,618,713 290 336 -54 126
NC050 589,359 7,618,661 295 332 -55 120
NC051 590,648 7,619,473 271 149 -80 96
NC052 591,076 7,619,530 268 341 -55 108
NC053 591,089 7,619,500 264 340 -55 102
NC054 591,212 7,619,507 268 337 -55 108
NC055 591,225 7,619,477 264 337 -55 102
NC056 591,150 7,619,476 270 221 -88 66
NC057 591,185 7,619,487 269 329 -55 102
NC058 591,085 7,619,454 259 343 -54 102
NC059 591,030 7,619,491 274 330 -54 102
NC060 590,960 7,619,513 281 336 -53 120
NC061 590,962 7,619,512 282 298 -88 192
NC062 589,959 7,619,301 284 252 -50 120
NC063 589,962 7,619,305 284 190 -69 126
NC064 589,613 7,618,860 293 329 -54 120

Appendix 2 - Nunyerry North 2024 RC drill results at a 0.3 g/t Au cut-off and 3 m internal dilution. Higher grade sections are at a 1.0 g/t Au cut-off and 1 m internal dilution.

Hole ID width (m) Au (g/t) From (m) intercept  
NC031 NSI  
NC032 NSI  
NC033 1 0.81 1 1 m at 0.81 g/t Au from 1 m  
NC033 2 0.72 64 2 m at 0.72 g/t Au from 64 m  
NC033 1 0.36 89 1 m at 0.36 g/t Au from 89 m  
NC034 NSI  
NC035 NSI  
NC036 NSI  
NC037 1 0.30 3 1 m at 0.30 g/t Au from 3 m  
NC037 4 0.46 26 4 m at 0.46 g/t Au from 26 m  
NC038 1 0.45 10 1 m at 0.45 g/t Au from 10 m  
NC038 1 0.30 24 1 m at 0.30 g/t Au from 24 m  
NC038 1 1.92 64 1 m at 1.92 g/t Au from 64 m  
NC039 NSI  
NC040 NSI  
NC041 1 0.71 68 1 m at 0.71 g/t Au from 68 m  
NC041 1 0.30 93 1 m at 0.30 g/t Au from 93 m  
NC041 2 0.46 108 2 m at 0.45 g/t Au from 108 m  
NC042 NSI  
NC043 1 0.51 16 1 m at 0.51 g/t Au from 16 m  
NC043 1 0.50 107 1 m at 0.50 g/t Au from 107 m  
NC044 NSI  
NC045 NSI  
NC046 6 0.51 30 6 m at 0.51 g/t Au from 30 m  
including   1 2.18 34 1 m at 2.18 g/t Au from 34 m  
NC046 8 1.61 43 8 m at 1.61 g/t Au from 43 m  
including   3 3.31 46 3 m at 3.31 g/t Au from 46 m  
NC046 1 0.34 59 1 m at 0.34 g/t Au from 59 m  
NC046 13 2.68 66 13 m at 2.68 g/t Au from 66 m  
including   3 10.41 66 3 m at 10.41 g/t Au from 66 m  
NC046 11 2.20 84 11 m at 2.20 g/t Au from 84 m  
including   1 18.06 86 1 m at 18.06 g/t Au from 86 m  
NC047 NSI  
NC048 1 0.81 10 1 m at 0.81 g/t Au from 10 m  
NC049 NSI  
NC050 NSI  
NC051 4 0.62 30 4 m at 0.62 g/t Au from 30 m  
including   1 1.67 33 1 m at 1.67 g/t Au from 33 m  
NC051 2 7.38 42 2 m at 7.38 g/t Au from 42 m  
NC051 1 0.31 48 1 m at 0.31 g/t Au from 48 m  
NC052 1 0.48 0 1 m at 0.48 g/t Au from 0 m  
NC052 1 0.44 9 1 m at 0.44 g/t Au from 9 m  
NC052 8 0.70 59 8 m at 0.70 g/t Au from 59 m  
including   1 1.33 59 1 m at 1.33 g/t Au from 59 m  
including   1 2.83 66 1 m at 2.83 g/t Au from 66 m  
NC052 1 0.37 73 1 m at 0.37 g/t Au from 73 m  
NC052 1 0.38 75 1 m at 0.38 g/t Au from 75 m  
NC053 1 3.17 44 1 m at 3.17 g/t Au from 44 m  
NC053 1 1.47 51 1 m at 1.47 g/t Au from 51 m  
NC053 1 0.37 68 1 m at 0.37 g/t Au from 68 m  
NC053 1 0.32 71 1 m at 0.32 g/t Au from 71 m  
NC053 11 1.26 85 11 m at 1.26 g/t Au from 85 m  
including   4 2.31 85 4 m at 2.31 g/t Au from 85 m  
including   2 1.64 94 2 m at 1.64 g/t Au from 94 m  
NC054 1 0.36 11 1 m at 0.36 g/t Au from 11 m  
NC055 1 0.46 28 1 m at 0.46 g/t Au from 28 m  
NC056 1 0.51 4 1 m at 0.51 g/t Au from 4 m  
NC056 7 0.40 19 7 m at 0.40 g/t Au from 19 m  
NC057 1 0.72 11 1 m at 0.72 g/t Au from 11 m  
NC057 2 1.68 19 2 m at 1.68 g/t Au from 19 m  
including   1 2.83 20 1 m at 2.83 g/t Au from 20 m  
NC057 1 0.44 29 1 m at 0.44 g/t Au from 29 m  
NC057 2 1.43 35 2 m at 1.42 g/t Au from 35 m  
NC057 2 0.55 46 2 m at 0.55 g/t Au from 46 m  
NC057 1 0.33 63 1 m at 0.33 g/t Au from 63 m  
NC057 1 0.40 65 1 m at 0.40 g/t Au from 65 m  
NC057 1 0.93 88 1 m at 0.93 g/t Au from 88 m  
NC058 NSI  
NC059 3 0.55 10 3 m at 0.55 g/t Au from 10 m  
NC059 2 0.95 30 2 m at 0.95 g/t Au from 30 m  
including   1 1.39 30 1 m at 1.39 g/t Au from 30 m  
NC059 1 2.37 69 1 m at 2.37 g/t Au from 69 m  
NC059 5 1.07 92 5 m at 1.07 g/t Au from 92 m  
including   3 1.63 92 3 m at 1.63 g/t Au from 92 m  
NC060 4 0.30 60 4 m at 0.30 g/t Au from 60 m  
NC060 1 1.23 119 1 m at 1.23 g/t Au from 119 m  
NC061 9 2.52 87 9 m at 2.52 g/t Au from 87 m  
including   1 1.18 87 1 m at 1.18 g/t Au from 87 m  
including   2 8.88 92 2 m at 8.88 g/t Au from 92 m  
NC062 2 6.31 15 2 m at 6.30 g/t Au from 15 m  
NC062 1 0.47 58 1 m at 0.47 g/t Au from 58 m  
NC062 2 0.49 67 2 m at 0.49 g/t Au from 67 m  
NC062 1 0.57 116 1 m at 0.57 g/t Au from 116 m  
NC063 17 1.85 25 17 m at 1.85 g/t Au from 25 m  
including   7 3.55 25 7 m at 3.55 g/t Au from 25 m  
including   1 2.76 41 1 m at 2.76 g/t Au from 41 m  
NC063 1 0.76 53 1 m at 0.76 g/t Au from 53 m  
NC063 1 0.56 66 1 m at 0.56 g/t Au from 66 m  
NC063 4 1.32 71 4 m at 1.32 g/t Au from 71 m  
including   1 4.24 71 1 m at 4.24 g/t Au from 71 m  
NC063 NSI  

Appendix 3 – Kilkenny 1998 Costean and Drill Collar locations in MGA_2020, zone 50, converted from AGD 84, zone 50.

HOLE ID EASTING (m) NORTHING (m) RL (m) AZI DIP DEPTH (m)
ACN01 602,865 7,636,835 230 140 -70 30
ACN02 602,860 7,636,845 230 140 -70 30
ACN03 602,855 7,636,855 230 140 -70 30
ACN04 602,780 7,636,815 230 320 -70 25
ACN05 602,785 7,636,805 230 320 -70 26
ACN06 602,790 7,636,795 230 320 -70 28
ACN07 602,660 7,636,975 230 150 -70 30
ACN08 602,650 7,636,980 230 150 -70 30
ACN09 602,570 7,636,875 230 170 -70 30
ACN10 602,560 7,636,890 230 170 -70 30
ACN11 602,550 7,636,905 230 170 -70 30
ACN12 602,423 7,636,770 230 120 -70 30
ACN13 602,435 7,636,765 230 120 -70 30
ACN14 602,845 7,636,815 230 340 -70 30
ACN15 602,840 7,636,825 230 340 -70 27
ACN16 603,170 7,636,775 230 90 -90 30
ACN17 603,140 7,636,735 230 90 -90 30
ACN18 603,110 7,636,695 230 90 -90 30
CHN01 602,840 7,636,839 230 170 0 20
CHN02 602,824 7,636,808 230 335 0 22
CHN03 602,803 7,636,803 230 335 0 24
CHN04 602,793 7,636,788 230 335 0 24
CHN05 602,777 7,636,766 230 335 0 22
CHN06 602,760 7,636,745 230 335 0 22
CHN07 602,742 7,636,726 230 335 0 20
CHN08 602,830 7,636,852 230 135 0 40

Appendix 4 – Kilkenny 1998 AC drill results and costean results at a 0.3 g/t Au cut-off and 3 m internal dilution. Higher grade sections are at a 1.0 g/t Au cut-off and 1 m internal dilution.

Hole ID width m Au g/t From m intercept
ACN01 NSI
ACN02 NSI
ACN03 NSI
ACN04 NSI
ACN05 5 5.02 9 5 m at 5.02 g/t Au from 9 m
ACN06 1 10.80 17 1 m at 10.80 g/t Au from 17 m
ACN07 NSI
ACN08 NSI
ACN09 NSI
ACN10 NSI
ACN11 NSI
ACN12 NSI
ACN13 5 1.74 14 5 m at 1.74 g/t Au from 14 m
Including   2 3.53 14 2 m at 3.53 g/t Au from 14 m
ACN14 1 0.78 5 1 m at 0.78 g/t Au from 5 m
ACN15 1 2.05 3 1 m at 2.05 g/t Au from 3 m
ACN16 NSI
ACN17 NSI
ACN18 NSI
CHN01 4 0.35 10 4 m at 0.35 g/t Au from 10 m
CHN02 2 0.50 6 2 m at 0.50 g/t Au from 6 m
CHN02 8 2.12 14 8 m at 2.12 g/t Au from 14 m
Including   2 5.50 14 2 m at 5.50 g/t Au from 14 m
CHN03 2 1.40 8 2 m at 1.40 g/t Au from 8 m
CHN03 2 1.12 14 2 m at 1.12 g/t Au from 14 m
CHN03 2 0.46 22 2 m at 0.46 g/t Au from 22 m
CHN04 2 0.84 12 2 m at 0.84 g/t Au from 12 m
CHN05 NSI
CHN06 NSI
CHN07 NSI
CHN08 8 4.21 20 8 m at 4.21 g/t Au from 20 m
Including   4 7.00 24 4 m at 7.0 g/t Au from 24 m

JORC Code, 2012 Edition – Table 1

Section 1: Sampling Techniques and Data

(Criteria listed in the preceding section also apply to this section)

Criteria JORC Code explanation Commentary
Sampling techniques
  • Nature and quality of sampling (e.g., cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
  • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
  • Aspects of the determination of mineralisation that are Material to the Public Report.
  • In cases where ‘industry standard’ work has been done this would be relatively simple (e.g., ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g., submarine nodules) may warrant disclosure of detailed information.
  • The Nunyerry North Prospect located in the Egina Gold Camp was tested using reverse circulation (“RC”) drilling.
  • Drill holes were located to intersect the main interpreted vein sets and obliquely intersect shears and faults.
  • RC drilling obtained one metre split samples from a face sampling hammer bit using an industry standard cone splitter attached to the cyclone to collect an approximately 2-3 kg split material in pre-numbered calico bags.
  • Regular air and manual cleaning of the cyclone was conducted at the end of every hole, to remove buildup of dust and chip material where present.
  • Standards, blanks and replicate assays were inserted into the sample sequence in the field.
  • A downhole Reflex single shot and downhole gyro survey tool were calibrated prior to the drilling program commencing, and a pXRF machine for multi-element analysis was calibrated every day.
  • The 2-3 kg sample was dried and crushed to <2mm at the lab to obtain a 500g sample for Au analysis by Chrysos PhotonAssay™ at an independent certified laboratory.
  • For a subset of samples, the remaining crushed material was pulverized to 75 µm at 85% passing and tested using 50 gram Fire Assay and/or 1 kg Screen Fire Assay.
  • Remaining crushed material or material riffle split from green bags were submitted to be crushed, and analysed using multiple PhotonAssay™ for a larger sample better representing coarse gold systems.
  • Based on statistical analysis of these results, there is no evidence to suggest the samples are not representative.
  • Costean samples by Kilkenny were collected by grab sampling 1 – 3 kg of material along 2 m intervals. Drill samples were speared from one metre sample piles into 4 m composites, submitted to Genalysis Laboratories, Western Australia for analysis via Fire Assay.
Drilling techniques
  • Drill type (e.g., core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g., core diameter, triple or standard tube, depth of diamond tails, face-sampling bit, or other type, whether core is oriented and if so, by what method, etc).
  • A total of 35 RC holes and 1 open hole percussion for an aggregate total of 3,942 m were completed with depths ranging from 66 m to 192 m, averaging 116 m. RC drilling was undertaken using a 5 ¼ inch face sampling hammer bit.
  • Kilkenny drilled 18 shallow percussion holes for 530 m in 1998 using a 600cfm/250psi aircore rig and hammer bit. Depths range from 20 m to 40 m and average 28 m.
Drill sample recovery
  • Method of recording and assessing core and chip sample recoveries and results assessed.
  • Measures taken to maximise sample recovery and ensure representative nature of the samples.
  • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.
  • The samples were visually checked for recovery as an estimate of variance from the average 100% recovery and were checked for moisture content and sample quality (contamination), recorded every metre by the geologist.
  • The cyclone was routinely cleaned ensuring no material build up.
  • The ground conditions were excellent with consistent recoveries and generally dry samples.
  • The cyclone emits minimal dust such that sample bias by losing fines and concentrating coarse material is deemed to be negligible.
  • The possibility of sample bias through selective recoveries is considered negligible and there is no relationship between grade and sample recoveries/quality or moisture content.
  • Sample recovery information for Kilkenny 1998 samples is not recorded.
Logging
  • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
  • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
  • The total length and percentage of the relevant intersections logged.
  • One metre RC drill samples were directly split on the drill rig using an industry standard cone splitter to collect approximately 2-3 kg of split material in a pre-numbered calico bag and the remainder of the sample (bulk sample) collected in a numbered large green plastic bag and laid out in rows or 20 or 30 samples. The bulk sample was speared diagonally to collect a representation of the material for each metre. The speared 1 m sample was sieved to separate the fine and coarse material. The geologist then logged chips from each metre in direct sunlight (including lithology, grain size, colour, alteration, weathering, vein percent and sulphide mineralogy) before part of the sample was placed in a chip tray for permanent storage.
  • Fine material was collected in chip trays and analysed using the pXRF for pathfinder elements.
  • 3,942 m were logged representing all drilled meters from all drill holes.
  • The logging was qualitative, except for logging of vein percent which was quantitative.
  • Kilkenny recorded downhole geology for all intervals by recording primary lithology information from spearing sample piles at one metre intervals. Information is captured in cross sections.
Sub-sampling techniques and sample preparation
  • If core, whether cut or sawn and whether quarter, half or all core taken.
  • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.
  • For all sample types, the nature, quality, and appropriateness of the sample preparation technique.
  • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.
  • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.
  • Whether sample sizes are appropriate to the grain size of the material being sampled.
  • One metre RC drill samples were directly split on the drill rig using an industry standard cone splitter to collect approximately 2-3 kg of split material in a pre-numbered calico bag.
  • All samples were dry crushed to minus 2 mm by Intertek Genalysis using a smart crusher to create a 500 g aliquot, then assayed for gold by Chrysos PhotonAssay™ with a variable detection limit of approximately 0.02 g/t Au.
  • Coarse sample residue was retained to allow selected intervals to be re-assayed via multi-jar PhotonAssay™.
  • Kilkenny collected two metre costean composite samples and four metre drill sample composites from individual drill piles, and were submitted to Genalysis for Fire Assay with AAS finish, with a detection limit of 0.01 g/t Au. Drill samples exceeding 1 gram per tonne were re-sampled from individual sample piles for a one metre interval analysis.
  • The sampling techniques and sample size is considered appropriate for this style of mineralisation.
Quality of assay data and laboratory tests
  • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
  • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
  • Nature of quality control procedures adopted (e.g., standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (if lack of bias) and precision have been established.
  • Chrysos PhotonAssay™ and fire assay techniques are considered appropriate and industry standard for Au with the detection limits as stated.
  • The assay technique is regarded as total analysis.
  • The sample methodology noted above is considered appropriate for orogenic gold style mineralization with possible coarse gold.
  • The following “blind to the lab” QAQC protocols submitted with each batch were adhered to: 1 CRM coarse blanks and 1 CRM 200 micron blanks per 100 samples, 2 Certified Reference Material standards per 100 appropriate for the style of assaying being undertaken, and 4 riffle split field duplicates per 100 samples; No QAQC issues were detected. The accuracy and precision of the data revealed that the data is consistent with levels routinely achieved for Au assay data and no grade bias is present
  • No QAQC issues were detected.
  • No QAQC protocols or performance was reported by Kilkenny, and it is assumed that QAQC was not considered at the time.
Verification of sampling and assaying
  • The verification of significant intersections by either independent or alternative company personnel.
  • The use of twinned holes.
  • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
  • Discuss any adjustment to assay data.
  • Primary data was collected using database compatible excel templates which were then forwarded to the database manager email for upload to the Geobank (v2022.5) database, buffered through a validation portal that ensures code, interval and primary record compliance. Geobank is a front-end UX/UI tender software platform (developed and sold by Micromine) attached to a SQL v15.1 server.
  • Assay data were loaded from lab certificates received from the registered laboratory by an internal database manager or external database consultant, and industry-standard audit trails and chain-of-custody was adhered to.
  • Significant intercepts were calculated using a 0.3 g/t Au cut-off and up to 3 m consecutive internal dilution. High grade components use a 1 g/t Au cut-off and allow 1 m consecutive internal dilution. These generated in Micromine and were verified by at least two company geologists via manual and automatic calculations.
  • Verification included checking the data against original logs, utilising laboratory certificates and cross-checking drill sections.
  • No adjustments of the assay data were made.
  • Kilkenny 1998 sample and assay data is extracted from their annual report, available online via WAMEX under the report ID A57774. Assays were reported by Novo as listed, preferring one metre splits over composites. No adjustments were made.
  • Significant intercepts were calculated using a 0.3 g/t Au cut-off and up to 3 m consecutive internal dilution. High grade components use a 1 g/t Au cut-off and allow 1 m consecutive internal dilution. These generated in Micromine and were verified by at least two company geologists via manual and automatic calculations.
Location of data points
  • Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
  • Specification of the grid system used.
  • Quality and adequacy of topographic control.
  • All RC drill holes were drilled on locations marked by pegs which were established using a DGPS (Trimble RTK system) with a ± 10cm easting and northing accuracy, and ± 20 cm vertical accuracy.
  • The datum used is GDA2020 zone 50.
  • Drill holes were drilled within 2 m of the original peg with co-ordinates changed accordingly where holes were moved slightly from the original peg position.
  • Drill holes were surveyed using an RTK (with a ± 10cm easting and northing accuracy, and ± 20 cm vertical accuracy) at the end of the program to ascertain the exact location of the final drill hole.
  • The RTK DGPS data was used for topographic control.
  • A north seeking gyro was utilised at every 20 m downhole to monitor hole deviation. A final survey reading was taken every 5 m to generate an accurate hole trace.
  • Kilkenny recorded collar coordinates using a GPS in grid AGD84, zone 50, which are converted by Novo to GDA2020 zone 50. Costean coordinates are derived from a gridded map in AGD84, zone 50, captured by GPS, and converted to GDA2020.
Data spacing and distribution
  • Data spacing for reporting of Exploration Results.
  • Whether the data spacing, and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
  • Whether sample compositing has been applied. 
  • Data spacing at Nunyerry North is sufficient to demonstrate grade and geological continuity.
  • The drillholes were collared on sections approximately 40 to 80 metres apart with holes spaced at approximately 20 m spacings on section.
  • 1 m spaced drill samples were collected. Samples were not composited.
  • Kilkenny costeans and drilling are reconnaissance tests and do not represent grade or geological continuity.
Orientation of data in relation to geological structure
  • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
  • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
  • The geology of the Nunyerry North target area includes sheeted quartz vein-related gold mineralization, juxtaposed by regional shears and offset faults in E-W trending stratigraphy dipping to the north at 80 degrees. The shears dip to the north at 55 to 70 degrees, and the offset faults dip to the east-northeast at about 70-75 degrees. Two main quartz vein sets are identified: one dipping 20 to 60 degrees toward the SSE and the second sub-vertical set steeply dipping and striking N to NNE.
  • Drill holes were collared to be as perpendicular as possible to interpreted mineralisation or structure.
  • Estrid Fault drilling is roughly parallel to the main structure and may have drilled down dip of mineralisation. The true orientation of mineralisation is currently not known.
  • No sampling bias is recognized with preliminary sectional interpretations highlighting the dip of mineralised vein sets to be 60 degrees to the SSW.
  • Kilkenny drilling and costeaning is perpendicular to dominant stratigraphy, but the host and orientation is not yet known.
Sample security
  • The measures taken to ensure sample security.
  • RC samples were collected in calico bags provided to the drillers at the start of each hole. Calico bags were tied up and placed on the green bags before being placed in polyweave bags which were zip tied and removed from the drill site daily.
  • Samples were collected in bulka bags and transported to Karratha by Novo staff and placed into a locked shed.
  • All samples are stored and managed on site by internal staff.
  • Samples were transported by reputable transport companies to a registered laboratory. Chain of custody is maintained by con notes and tracking numbers from Karratha to the registered laboratory.
  • At the registered laboratory the individual samples are registered and tracked through the preparation and analysis process.
  • Chain of custody information from Kilkenny is not available.
Audits or reviews
  • The results of any audits or reviews of sampling techniques and data.
  • No audits have been undertaken.

Section 2: Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section)

Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status
  • Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
  • The security of the tenure held at the time of reporting along with any known impediments to obtaining a license to operate in the area.
  • The Nunyerry North prospect is on Exploration License E47/2973, located in the broader Egina Gold Camp, and 150 km from Port Hedland. The tenement is subject to a Joint Venture agreement with Novo Resources holding a 70% interest and the remaining 30% held by Rockford Metals Pty Ltd, an entity of Mark Gareth Creasy (Creasy Group).
  • There are several Registered Heritage Sites within this tenement, however not overlapping with the immediate drilling area.
  • The Prospect is covered by the granted Yindjibarndi People and RTIO Indigenous Land Use Agreement (Initial ILUA) (WI2014/005) and is subject to a land access and mineral exploration agreement with the Native Title Holders.
  • The tenements are currently in good standing and there are no known impediments.
Exploration done by other parties
  • Acknowledgment and appraisal of exploration by other parties.
  • Numerous companies had worked in the general area in the past including; 1968 (A13076), US Steel Corporation Complete, 1977 (A7202), Occidental Minerals Corporation of Australia, 1977 (A7237, A7238, A7308), CRA Exploration Pty Ltd Explored, 1981 (A10873), West Coast Holdings Ltd, Command Minerals NL, 1982 (A11291), Pancontinental Mining Ltd, 1985 (A17643), CRA Exploration Pty Ltd, 1995-1996 (A44168, A47363), Mark Creasy, 1996 (A47385), Kilkenny Gold NL Explored, 1998 (A54099, A54394), Kilkenny Gold NL Gold, 2004 (A68128), Bullion Minerals-Farno McMahon Pty Ltd, 2008 (A77811, A81531) and Chalice Gold Mines Ltd
  • 2016 - 2018 Rockford Metals Ltd (Creasy Group). Rockford Metals were the first company to define the Nunyerry North Prospect as a target. Upon granting, geological reconnaissance, rock chip, soil and stream sampling was completed targeting gold associated with the Mallina Formation, quartz veins within Archean mafic/ultramafic greenstone belt rocks and regional locations returning maxima of 20.7 ppm Au (rock chip sample), 650 ppb Au (soil sample) and 745 ppb Au (stream sample). Surface soil geochemical sampling was targeting a gold anomalous quartz veins hosted within Archaean mafic/ultramafic Greenstone Belt rocks. The gold content varies from 0.001 to 2.13 ppm (average is 0.25 ppm) and defined a 1.3 km long, 200 m wide >30 ppb Au gold anomaly in a broadly anomalous 2 km long zone with several lower order 500 m long >10 ppb Au anomalies.
  • In 2018, an aeromagnetic/radiometric survey was completed over the Nunyerry Project by Rockford Metals Ltd at 30 m sensor height and 50 m line spacing for a total of 21,829 line kilometres.
Geology
  • Deposit type, geological setting, and style of mineralisation.
  • The Nunyerry North target area includes orogenic structurally controlled quartz vein-related gold mineralisation within a sequence of ultramafic komatiites and mafic rocks, juxtaposed by regional shears and offset faults. The target hosts a 1.4 km long, high-order surface soil anomaly, where rock chip sampling in 2021 returned peak high-grade results from quartz veins including 30.3 g/t Au, 21.1 g/t Au and 9.0 g/t Au; with additional sampling in 2022 delivering 8.81 g/t Au and 7.39 g/t Au. All significant intercept tables include ‘nil’ results for drilling that failed to intercept anomalous results.
Drill hole Information
  • A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes, including Easting and northing of the drill hole collar, Elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar, dip and azimuth of the hole, down hole length and interception depth plus hole length.
  • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
  • All relevant information for the Nunyerry North RC drill program is summarized in the release Appendix - Table 1
Data aggregation methods
  • In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g., cutting of high grades) and cut-off grades are usually Material and should be stated.
  • Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.
  • The assumptions used for any reporting of metal equivalent values should be clearly stated.
  • All significant drill intercepts were calculated using a 0.3 g/t Au cut-off and up to 3 m consecutive internal dilution.
  • No upper cutoff grades were applied.
  • Gold is the only metal of economic significance reported.
Relationship between mineralisation widths and intercept lengths
  • These relationships are particularly important in the reporting of Exploration Results.
  • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
  • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g., ‘down hole length, true width not known’).
  • Sectional interpretation confirms that the main veins interpreted were intersected roughly perpendicular to the drill holes.
  • Estimates for true widths are between 75% and 100% of the downhole intercept.
Diagrams
  • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
  • Refer to the body of the release for appropriate maps and diagrams.
Balanced reporting
  • Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.
  • All significant drilling intercepts are provided in Table 1 in the body of the main report.
Other substantive exploration data
  • Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
  • No additional data.
Further work
  • The nature and scale of planned further work (e.g., tests for lateral extensions or depth extensions or large-scale step-out drilling).
  • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
  • Plunge components are still open, and additional RC or diamond drilling are considered to follow up
  • Regional sampling is currently underway on the Tabba Tabba Shear Zone to determine whether additional prospects can be progressed towards reconnaissance drill testing

No Section 3 or 4 report as no Mineral Resources or Ore Reserves are reported in this Appendix

______________________________

1 Refer to De Grey’s Quarterly activities report for the period ending 30 June 2024, released 15 July 2024. No assurance can be given that a similar (or any) commercially mineable deposit will be determined at Novo’s Becher project.2 Refer to Novo’s news release dated 15 August 2024 – Exploration to expand into the East Pilbara.3 Refer to De Grey’s ASX Announcement, dated 21 November 2023. No assurance can be given that a similar (or any) commercially mineable deposit will be determined at Novo’s Becher project.4 Refer to Novo’s news release dated 27 March 2024 – Upgraded Nunyerry North Drill Results Deliver High-Grade Intercepts up to 6.12g/t Au.5 Refer to Novo’s news release dated 6 September 2022 - High Quality Targets advanced at Purdy’s North, Becher area and Nunyerry.6 See WAMEX Australia Limited Kilkenny Gold NL Explored, 1998 (A54099, A54394), Kilkenny Gold NL Gold, 2004 (A68128). Novo has not independently validated these results and therefore is not to be regarded as reporting, adopting or endorsing the results. No assurance can be given that Novo will achieve similar results as part of its exploration activities at the Kilkenny prospect.7 Refer to De Grey ASX news release dated 22 January 2008 available at www.asx.com.au.8 Refer to Novo’s ASX news release dated 19 December 2023 – Strategic Joint Venture with Global Lithium Producer SQM.9 Refer to De Grey ASX Announcement, Hemi Gold Project Resource Update, dated 21 November 2023. No assurance can be given that a similar (or any) commercially mineable deposit will be determined at Novo’s Becher project.

Photos accompanying this announcement are available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/1c8a4713-c858-4054-b609-e67ae2b867aehttps://www.globenewswire.com/NewsRoom/AttachmentNg/26bec8d2-b0e9-4f2e-97f3-118741c70364https://www.globenewswire.com/NewsRoom/AttachmentNg/16764014-9c8d-433b-b3c6-91958ea51660https://www.globenewswire.com/NewsRoom/AttachmentNg/e936eca5-56f0-4720-b7d2-e15653e83628https://www.globenewswire.com/NewsRoom/AttachmentNg/a8b6e245-5097-4904-8cfd-f873e502bbe2https://www.globenewswire.com/NewsRoom/AttachmentNg/8eb9cbd2-af63-4d35-ae4a-d0f8915c31a7https://www.globenewswire.com/NewsRoom/AttachmentNg/7f3b4808-df59-4359-99a6-ad50f70f7474

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