02:51 PM EDT, 08/15/2024 (MT Newswires) -- Novo Resources Corporation ( NSRPF ) said Thursday it has signed a heritage protection agreement with the Nyamal Aboriginal Corporation (NAC).

According to a statement, this agreement streamlines the interactions between Novo and the Nyamal People and confirms the company's commitment to "open, honest and transparent" dealings with the traditional owners of the Pilbara region in western Australia.

It said the agreement covers a large part of the East Pilbara District and allows Novo to conduct non-ground disturbing surface works including mapping and surface geochemistry, specifically targeting the priority Bamboo and Miralga Projects. A cultural heritage site avoidance survey took place at Bamboo earlier this month to enable drill testing, with a final report expected later in the month, the statement added.

The agreement also provides for compensation payments to the Traditional Owners.

Novo reports that surface mapping and sampling has begun at the Miralga Project, following up on targets generated from historical data and reconnaissance work in 2021. Rock chip samples collected by Novo at Gully Washer at the Miralga Project returned peak results of 14.8 g/t gold.

The footwall of the mineralised gossanous outcrop at Gully Washer also returned four > 2,000 g/t silver rock chip samples along 100 m of strike.

Novo is up $0.01, to $0.10 on the Toronto Stock Exchange.

Price: 0.10, Change: +0.01, Percent Change: +11.11