Ownership and Strategy for Sherlock

In this KE Report company update, I chat with Mike Spreadborough, Executive Co‑Chairman, and Kas De Luca, General Manager of Exploration at Novo Resources (TSX: NVO - OTCQB: NSRPF - ASX:NVO ) for an in-depth exploration overview from three key Australian projects - Teichman, Sherlock Crossing, and Tibooburra - highlighting strong gold and antimony results and outlining next steps for 2026 fieldwork.

Key Discussion Points:

• Teichman Project - High-Grade Surface Gold:
  First-ever systematic exploration at Teichman, located near the 13Moz Hemi Project, returned standout surface samples up to 77.5 g/t and 51.4 g/t gold. Two major mineralized trends have been defined over 1.3 to 2.5 km, with drilling planned as soon as weather conditions allow.
  
  
• Sherlock Crossing - Gold-Antimony System:
  Scout drilling confirmed strong mineralization including 3 meters grading 2.9 g/t gold with 1.8% Sb, and peak sample results of 7.7 g/t gold and 4.77% Sb. Novo plans follow-up work leveraging Western Australia’s EIS grant program to offset drilling costs.
  
  
• Tibooburra Project, New South Wales - Expanding Mineralized Trends:
  Continued success at Pioneer North and South with gold samples up to 40 g/t. Systematic fieldwork and land expansion have outlined several parallel gold-bearing trends extending up to 22 km, positioning Tibooburra for more extensive drilling next year.
  
  
• Strategic Outlook:
  Novo plans to balance high-priority drill targets with permitting timelines across projects while maintaining its strong cash position following recent divestments. Flagship John Bull remains the top near-term drill target, complemented by upcoming work at Teichman, Sherlock, and Tibooburra.
  
  

Please email me with any follow up questions for Mike and the team at Novo Resources. My email address is Fleck@kereport.com.  

Click here to visit the Novo Resources website to learn more about all the projects and exploration programs. 

-----------------

For more market commentary & interview summaries, subscribe to our Substacks:
The KE Report: https://kereport.substack.com/
Shad’s resource market commentary: https://excelsiorprosperity.substack.com/

Investment disclaimer:
This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.