Novo Increases Belltopper Target by 44–54% to 880,000 Oz and Advances Egina JV
Novo Resources increased its 2026 Belltopper Exploration Target to 2.1–3.1 Mt at 6.7–8.9 g/t gold for 460,000–880,000 oz, marking 44–54% higher contained ounces following detailed modelling. Its Egina joint venture in the Mallina Basin has A$7 M spent and allows a further A$17 M earn-in by June 2027 over 2,500 km² near the 13.6 Moz Hemi gold project.
1. Belltopper Target Upgrade
Novo has raised its 2026 Exploration Target at the Belltopper Gold Project to 2.1–3.1 million tonnes grading 6.7–8.9 g/t gold, equating to 460,000–880,000 contained ounces. This 44–54% increase follows an in-depth review of historical data, drill results and 3D geological modelling identifying eight high-grade reefs.
2. Planned H2 2026 Drilling
Drilling approvals are progressing ahead of a scheduled H2 2026 program at Belltopper, aimed at converting the conceptual Exploration Target into a formal mineral resource. The company’s structural interpretation and updated geological model will guide hole placement along the Taradale Fault corridor.
3. Egina Joint Venture Terms
In Western Australia’s Mallina Basin, Novo’s Egina joint venture with Northern Star has completed a A$7 million minimum expenditure and allows Northern Star to earn a 50% interest by spending an additional A$17 million by June 2027. The arrangement covers 2,500 km² adjacent to the 13.6 Moz Hemi gold project, targeting intrusion-related and structurally controlled deposits.