Novo Resources Set to Drill 2,700 Meters at Tibooburra Gold Project in Australia

04:49 PM EST, 11/02/2026 (MT Newswires) -- Novo Resources (NVO.TO) after trade Monday said it is planning a roughly 2,700-meter reverse circulation drilling program at its Tibooburra Gold Project in New South Wales, with drilling expected to commence in early November. In Western Australia, Novo is reviewing geological data and conducting further sampling at the Egina Gold Project and Farno Project, with drilling at Egina targeted for the first half of 2027, subject to approvals, the company added. Novo also provided corporate updates, including its investment in San Cristobal Mining, which increased in value to AU$36.2 million (CA$35.9 million). Under the joint venture and option agreement with Manhattan Gold and its wholly owned subsidiary Awati Resources Pty Ltd, Novo issued 1.5-million common shares to Awati on July 31, valued at about AU$100,000 (CA$99,000), the company said. Shares of Novo Resources closed up 8.3% at CA$0.065 on the Toronto Stock Exchange.