Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO, FRA:1NOR) earlier this week outlined plans to commence drilling at its Wyloo project in Western Australia, marking the start of a broader exploration campaign expected to deliver steady news flow through mid-2026.
Executive co-chairman and acting CEO Mike Spreadborough said drilling at Wyloo is scheduled to begin in late April, following minor delays caused by weather disruptions. The program will comprise approximately 2,500 metres of aircore drilling designed to test a target defined by encouraging surface sampling results.
Spreadborough highlighted that rock chip samples have returned elevated levels of antimony, silver, zinc and lead, alongside gold, pointing to a potentially significant polymetallic system. He described Wyloo as “probably the most exciting target Novo Resources has had for a long time,” underscoring the company’s growing confidence in the project.
The Wyloo campaign represents the first drill testing of the target, with the company aiming to better understand the geological controls and assess whether the mineralisation reflects a hydrothermal system. Spreadborough noted that while the geological model remains unconfirmed, drilling is expected to provide critical insights.
Beyond Wyloo, Novo Resources is progressing additional exploration across its Pilbara portfolio. At the Cronus project near Karratha, the company plans to drill five fence lines to test potential extensions of mineralisation identified by neighbouring explorer Artemis. Previous results at Cronus have already returned promising gold intersections, supporting further follow-up work.
Meanwhile, at Balla Balla, Novo Resources is preparing for a second phase of drilling comprising around 6,000 metres of reverse circulation drilling. The company has refined its targeting to focus on two key zones following analysis of more than 20,000 metres drilled in 2025. Spreadborough said this phase would aim to tighten drill spacing and extend mineralisation at depth, helping to “build the story” ahead of a potential third phase.
He added that the exploration approach at Balla Balla is iterative, likening it to “peeling an onion,” with each phase providing greater clarity on the project’s potential.
With funding secured, Novo Resources is positioned to execute its planned programs and deliver a steady stream of results over the coming months, providing multiple catalysts for investors as drilling progresses across its key assets.
Key highlights
- Novo Resources is launching a major drilling campaign across multiple WA projects
- Wyloo project drilling begins late April 2026, following weather delays
- Initial program: ~2,500m aircore drilling targeting antimony and polymetallic mineralisation
- Strong surface results include antimony, silver, zinc, lead and gold
- Wyloo described as “the most exciting target Novo has had for a long time”
- Company expects consistent news flow from April to July
- Cronus project drilling to test extension of mineralisation near Artemis ground
- Balla Balla project advancing to second-phase drilling (~6,000m RC)
- Exploration strategy focused on greenfields discovery rather than near-mine assets
- Company fully funded to execute upcoming drilling programs
Proactive: Welcome back to Proactive Investors, ladies and gentlemen. I'm your host, Kerry Stephenson. Today I've asked Mike Spreadborough to come back and have a chat with us. He is the executive co-chairman and acting CEO of Novo Resources, listed on the ASX and the TSX as NVO.
The reason I’ve asked Mike to join us is that the company is starting its drilling program at Wyloo in the Pilbara in Western Australia, with a strong start to 2026 ahead. Mike, give us the update.
Mike Spreadborough: As you said, post-Easter, so the Easter Bunny is coming. It’s really good. We’re kicking off almost three months of drilling, so people will see strong news flow from late April through to July as we execute our plans in the province.
Late April we’ll be on the ground. There was a slight delay due to a cyclone in Western Australia, but we will start drilling at Wyloo. It’s near Paulsens, inland from the Paulsens gold operation.
We’re seeing mineralisation including gold and antimony, and strong rock chip samples with high lead, zinc, silver and antimony, along with some gold. There’s about a kilometre strike length at surface, and now we’ll begin drilling.
We’re planning around 2,500 metres of aircore drilling starting in April. We’re not yet sure of the exact geological model—it may have a hydrothermal theme—but that’s why we’re drilling. It’s probably the most exciting target Novo Resources has had for a long time.
Proactive: This is one you seem particularly excited about. Can you expand on that?
Mike Spreadborough: It goes back to Novo Resources’ DNA as a true greenfields explorer. We’re not focused on brownfields or areas near existing processing plants—we want to make new discoveries.
We’ve held this ground for a while, and it’s taken time to work with Aboriginal groups to gain access. Initially, access was only possible by helicopter. Geological work including soil and rock chip sampling was completed in 2023, so it’s taken time to reach the drilling stage.
The rock chip results are exciting. This is a project that simply needs to be drilled. There are no guarantees, but it’s a compelling target.
Proactive: Once Wyloo is underway, you’re also planning drilling at Cronus and Balla Balla?
Mike Spreadborough: Yes. We’ll move to Cronus near Karratha, where we’ll drill five fence lines along a trend. Artemis has had success nearby, so we want to see if that continues onto our ground.
We’ve had some good gold hits previously, so we want to follow that up, although it’s not our main focus.
After that, we’ll move to Balla Balla with a different contractor. That will be the second phase of drilling there.
Proactive: How much drilling at Balla Balla, and why is it exciting?
Mike Spreadborough: We’ll complete about 6,000 metres of RC drilling. In 2025, we drilled over 20,000 metres across a large જમી ground position. We’ve analysed that data and are now focusing on two key areas, Quarry and Babbage.
We’ll tighten drill spacing and go deeper to build the geological story. It’s a bit like peeling an onion—we’ve done soils, first-phase drilling, and now this is the second phase.
A third phase will likely determine whether there’s something significant there. We may also incorporate geophysics.
The broader concept relates to structural trends similar to known mineralised systems in the region. We need to drill to test that theory.
Proactive: Plenty of news flow coming from Novo Resources. Mike, great to chat—come back with updates soon.
Mike Spreadborough: Absolutely. We’ve got about 12 weeks of strong news flow ahead, and importantly, we’re fully funded for drilling.