Novo Provides Pilbara Exploration Program Update
December 13 2018 - 7:00AM
Novo Resources Corp. (“
Novo” or
the “
Company”) (TSX-V: NVO; OTCQX: NSRPF) is
pleased to provide an update of exploration activities and
short-term objectives at several of its Pilbara gold projects.
Egina:
- Novo’s preliminary bulk sampling program at Egina is nearing
completion. An approximately 170 tonne bulk sample was recently
excavated (Figure 1) and is being processed utilizing the Company’s
IGR3000 gravity gold plant. Initial results are expected by the end
of the month.
- Sampling and processing protocols developed during this
preliminary bulk sampling phase will enable Novo to undertake
systematic bulk sampling across other parts of the expansive gravel
terrace at Egina beginning after the wet season ends in March.
- In addition to the 170 tonne bulk sample, three smaller samples
weighing approximately 20 tonnes each were collected for detailed
metallurgical test work including mechanical sorting tests similar
to those recently undertaken on bulk samples from Comet Well
(please refer to the Company’s news release dated November 19,
2018). Metallurgical test work will be geared toward developing a
processing scheme suited for Egina gravels.
- Novo anticipates trial bulk sampling and processing of a few
tens of thousands of tonnes at Egina in 2019.
Karratha:
- Assays of concentrates from recent mechanical sorting tests are
expected back by the end of December. Analyses of waste material
from these tests are anticipated to return the first quarter of
2019 at which time the effectiveness of mechanical sorting and its
potential commercial application can be more fully assessed.
- Novo anticipates generating a mineralization report for the
Karratha gold project for submission to the Western Australian
Department of Mine, Industry Regulation and Safety during the first
quarter of 2019. This report forms the basis for seeking grant of a
mining lease at Karratha. Novo is also working towards a native
title agreement with the Ngarluma people, another key step in the
process of obtaining a mining lease.
Beatons Creek:
- A suite of 58 bulk samples, each weighing approximately two
tonnes, was collected from gold-bearing conglomerates across the
Beatons Creek project during 2018. Analyses from these samples are
expected to return by February 2019.
- In addition to bulk sampling, Novo undertook infill and
step-out diamond drilling to enable geological remodeling and
expansion of the Beatons Creek deposit.
- Novo anticipates utilizing forthcoming data from bulk sampling
and diamond drilling to develop a new resource model for Beatons
Creek during the first quarter of 2019. The recently updated
Beatons Creek resource (please refer to the Company’s news releases
dated October 10 and November 21, 2018) includes measured and
indicated resources of 345 thousand oz Au (4.594 million tonnes at
2.3 grams per tonne Au) and an inferred resource of 322 thousand oz
Au (3.790 million tonnes at 2.6 grams per tonne Au).
Reference should be made to the technical report entitled NI 43-101
Technical Report Resource Update, Beatons Creek Gold Project,
Pilbara Region, Australia, with an effective date of August 10,
2018 and an issue date of November 20, 2018, prepared for Novo by
Leonel Lopez (AIPG- Geol. Eng. QP, SME-RM) of Tetra Tech, Golden,
Colorado (the “2018 Technical Report”). The
2018 Technical Report is available under Novo’s profile on the
SEDAR website (www.sedar.com).
Talga Talga:
- Talga Talga is one of Novo’s East Pilbara assets and is located
approximately 110 km north of Beatons Creek. Gold occurs in lode
quartz veins hosted by metamorphosed volcanic and sedimentary rocks
of the Warrawoona Supergroup, the same rocks that host Calidus
Resources Ltd.’s Warrawoona gold project approximately 35 km south
of Talga Talga.
- Recent spot rock chip sampling of veins has returned highly
encouraging assay results including grades of 81.4 g/t, 46.9 g/t,
35.1 g/t and 30.0 g/t gold (these grades are not necessarily
representative of mineralization at Talga Talga). Of a total of 149
samples, 68 returned grades greater than 0.5 g/t gold and 33
returned grades greater than 5.0 g/t gold.
- These rock chip results combined with detailed mapping define a
corridor of mineralized structures approximately three kilometers
long (Figure 2 and Figure 3).
- An updated geological interpretation will drive further
exploration in 2019 anticipated to include a component of diamond
drill testing.
Spot rock chip samples from Talga Talga were
submitted to Genalysis Laboratory in Perth, Australia. Given
the occurrence of coarse gold on the property, analyses were
performed on 1 kg pulverized charges subjected to LeachWell™
technique. Following LeachWell™ analysis, tailings from each sample
were rinsed and dried. A 50 gram split was subjected to fire assay
with OES-finish. Grades reported in this news release are a
mathematical combination of LeachWell™ analyses and residual gold
in tails as determined by fire assay. There were no limitations to
the verification process and all relevant data was verified.
Dr. Quinton Hennigh, P. Geo., the
Company’s, President and Chairman and a qualified person as defined
by National Instrument 43-101, has approved and verified the
geological content of this news release.
About Novo Resources Corp.
Novo’s focus is to explore and develop gold
projects in the Pilbara region of Western Australia, and Novo has
built up a significant land package covering approximately 12,000
sq km with varying ownership interests. For more information,
please contact Leo Karabelas at (416) 543-3120 or
e-mail leo@novoresources.com
On Behalf of the Board of Directors,
Novo Resources Corp.
“Quinton Hennigh”Quinton Hennigh President and
Chairman
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Forward-looking information
Some statements in this news release contain forward-looking
information (within the meaning of Canadian securities legislation)
including, without limitation, statements as to planned exploration
activities and the expected timing of the receipt of results. These
statements address future events and conditions and, as such,
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by the statements. Such factors
include, without limitation, customary risks of the mineral
resource industry as well as the performance of services by third
parties.
(Figure 1 – Excavation of a 170
tonne bulk sample of gold-bearing lag gravels at Egina. Sand and
soil is first stripped off the targeted gravel layer. Yellow
material at the base of the bench is weathered sedimentary rock
belonging to the Mallina Formation comprising basement in this
region. The targeted gravel horizon rests on top of the Mallina
Formation and beneath the white line.)
(Figure 2 – Geologic map of the
Talga Talga project. Spot rock chip sampling has defined a three
kilometer long corridor of mineralized structures extending from
McPhee’s Reward in the southwest to NW Australian in the
northeast.)
(Figure 3 – Oblique view
looking southwest along a three kilometer corridor of mineralized
structures extending from NW Australian to McPhee’s Reward. Inset
photographs show examples of gold-bearing quartz veins. Dips are
generally 35-40 degrees northwest.)
PDFs accompanying this announcement are
available at:
http://resource.globenewswire.com/Resource/Download/1a96bcc0-389f-4eda-8a67-421e08cb51e0
http://resource.globenewswire.com/Resource/Download/d6da8e48-7426-4f44-86d4-d195d846d971
http://resource.globenewswire.com/Resource/Download/550a7e5a-b50d-41af-9dcb-c6f56b8f402b
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