Novo Announces the Grant of Mining Approvals at Its Beatons Creek Conglomerate Gold Project
May 14 2019 - 7:00AM
Novo Resources Corp. (
“Novo” or
the
“Company”) (TSX-V: NVO; OTCQX: NSRPF) is
pleased to announce that environmental approvals for mining the
Beatons Creek conglomerate gold project (the
“
Project”) located in the eastern Pilbara region
of Western Australia have been granted. Additionally, the final
mining lease required to complete the Project, M46/532, has now
been granted. All necessary tenure and Native Title agreements are
now in place.
Highlights
- Granting of the mining lease for
tenement M46/532 (known as the Edwards Lease) is important to Novo
as it contains some of the highest grade material and covers some
of the planned waste dump footprint. It also means that just under
99% of all ounces recently reported in the Beatons Creek resources
upgrade (see the Company’s news release dated April 1, 2019 -
http://novoresources.com/news-media/news/display/index.php?content_id=346)
are now contained within granted mining leases.
- All necessary Native Title
agreements and tenure are now in place for the entire Project
resource estimate (oxide & fresh mineralisation).
- Novo’s previously announced options
study (please see the Company’s news release dated April 17, 2019 -
http://novoresources.com/news-media/news/display/index.php?content_id=347)
continues to consider a processing route for the Project, now
underpinned by the certainty of a significant source of oxide mill
feed.
- These approvals apply to the
Project’s oxide resource. All necessary environmental test-work for
the Project oxide tailings product (carried out to the standards
required by the relevant environmental regulatory agencies) has
been completed, confirming an environmentally benign tailings
product.
- Work will now commence for an
approvals submission for the Project’s fresh resource.
The granting of Mining Leases and mining
approvals are a rigorous assessment process undertaken by the
Western Australian Departments of Mines, Industry Regulation and
Safety and Water and Environmental Regulation and require
comprehensive technical input including:
- Environmental studies (ecological,
hydrogeological and social environmental impacts, mineralization
and waste chemical composition)
- Mining plans – mine closure
planning, mining techniques, waste dump design and location, safety
management plans
- Native Title – demonstration that a
mining agreement is in place with all Native Title parties that
considers royalties, employment opportunities, community engagement
and cultural awareness
“The granting of mining tenure and approvals are
a testament to the hard work and expertise within the Novo
technical team, particularly given the challenges of seeking
approvals for operating proximal to a residential area and within a
P1 water reserve”, commented Mr. Rob Humphryson, CEO and a director
of the Company. “These are very welcome developments and
complementary to the east Pilbara options study which is now well
underway. The centrepiece of this study is an assessment of the
productive mining capacity of Beatons Creek based upon our improved
understanding of resource block dimensions, which will in turn
inform processing plant sizing and costing.”
Karratha Gold Project Mineralization
Report
The Company is also pleased to announce that
that the mineralization report previously announced on January 22,
2019 (please see the Company’s news release here:
http://novoresources.com/news-media/news/display/index.php?content_id=340)
is complete and undergoing final internal reviews. Details will be
made available to the market upon completion of review.
Dr. Quinton Hennigh (P.Geo.) is the qualified
person pursuant to NI 43-101 responsible for, and having reviewed
and approved, the technical information contained in this news
release. Dr. Hennigh is President, Chairman, and a director of Novo
Resources Corp.
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 +1416-543-3120 or
e-mail leo@novoresources.com
On Behalf of the Board of Directors,
Novo Resources Corp.
“Quinton Hennigh”
Quinton Hennigh
Chairman and President
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, the
existence of Mineral Resources at the Company’s Beatons Creek
project. 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
resource industry and risks and uncertainties inherent to mineral
resource estimates.
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