Positive Coarse Gold Recoveries From Recent Bulk Samples at Novo’s Egina Project
October 09 2019 - 7:38AM
Novo Resources Corp. (“
Novo” or
the “
Company”) (TSX-V: NVO; OTCQX: NSRPF) is
pleased to announce it has recovered significant coarse gold from
trenching and bulk sampling at its Egina gold project, Western
Australia. Recent results further confirm Novo’s view that surface
gravels covering the vast erosional terrace at Egina have the
potential to host a gold deposit. Novo currently controls
approximately 2,000 sq km of prospective erosional terrace.
Novo’s most recent trench, Trench 4, is oriented
north-south and situated approximately 70 metres west of Trench 1
and its associated bulk samples discussed in the Company’s news
releases dated August 13, 2019
(https://www.novoresources.com/news-media/news/display/index.php?content_id=360)
and August 22, 2019
(https://www.novoresources.com/news-media/news/display/index.php?content_id=361).
Three bulk samples collected adjacent to Trench 4 yielded 337.2
grams of coarse, natural gold nuggets from 222.2 cubic metres of
lag gravel.
Highlights:
- Metal detecting and gravity
processing of 222.2 cubic metres of surface lag gravels yielded a
total of 337.2 grams of coarse, natural gold nuggets (please refer
to below table of results and Figure 1 for sample
locations).
- Bulk sample EGBS025 contained a
single gold nugget weighing 86.3 grams, the largest yet recovered
from the 2019 field season.* Novo considers these results very
encouraging because the weight of recovered gold excluding this one
outlier nugget is 250.9 grams. Many alluvial gold deposits display
grades significantly below one gram per cubic metre.
- All gold discussed in this news
release is coarser than one mm and potentially amenable to low cost
“dry” extraction methods such as eddy current separators and
mechanical sorters. Novo discussed favorable preliminary test
results using eddy current separators on Egina gold nuggets in a
Company news release dated September 16, 2019
(https://www.novoresources.com/news-media/news/display/index.php?content_id=363).
- Bulk sampling was undertaken across
a 48-m wide nugget-rich zone within a broad topographic depression,
or swale, identified by ground penetrating radar.
- Additional trenching and bulk
sampling is currently underway and will continue until the end of
2019.
* This nugget is not necessarily indicative or
representative of mineralization at the Egina project.
Table of coarse gold recoveries
from three bulk samples at Egina:
|
|
|
Coarse Gold |
Fine Gold |
BulkSamplePit |
PositioninSwale |
Volume(cubic m) |
Gold NuggetsMetalDetectedWhileExcavatingBulk
Sample(grams)A |
Gold NuggetsMetalDetected in+5
mmOversizeMaterial(grams)A |
Gold Nuggetsfrom Sluice+1 mm(grams)A |
Gold NuggetsRecovered byIGR 3000 +1
mm(grams)A |
Total CoarseGold Nuggets(grams)A |
Gold inShaker TableConcentrate(grams)B |
Gold inShaker Table Tailings(grams)C |
Gold in IGR 3000 Tailings(grams)C |
Total FineGold (grams) |
EGBS025 |
Middle |
78.7 |
125.3 |
0.0 |
15.5 |
9.7 |
150.5 |
In Progress |
In Progress |
In Progress |
In Progress |
EGBS026 |
Middle |
69.4 |
82.0 |
0.0 |
19.6 |
15.6 |
117.2 |
In Progress |
In Progress |
In Progress |
In Progress |
EGBS027 |
South End |
74.1 |
27.8 |
0.0 |
22.4 |
19.3 |
69.5 |
In Progress |
In Progress |
In Progress |
In Progress |
Total |
48 m Long |
222.2 |
235.1 |
0.0 |
57.5 |
44.6 |
337.2 |
In Progress |
In Progress |
In Progress |
In Progress |
Notes:A – Gold purity has been assessed at Egina
and falls within a range of 89% - 95%. B – Based on whole sample
assays.C – Back-calculated from assayed sub-samples.
“We are pleased to see consistently gold-rich
gravels in the swale at Egina,” commented Dr. Quinton Hennigh,
president and chairman of Novo. “We now have seven bulk samples
from this target that have yielded, in aggregate, 629.6 grams of
coarse, natural gold nuggets from 504.1 cubic metres of surface lag
gravels. Over the remainder of this year, we plan to undertake
sufficient trenching to outline an area that can be subjected to
test bulk extraction and processing next year.”
Novo’s current Egina program is focusing on
identifying terrace gravels that can be subjected to bulk
extraction and processing tests next year. In conjunction with its
field activities, Novo is also currently examining various types of
equipment that can be used for continuous gravel excavation, mobile
“dry” gold processing and immediate environmental reclamation
methodology that could be field tested next year.
In addition to the three samples discussed
above, a fourth bulk sample, EGBS024, was collected adjacent to
Trench 4 near it southern terminus. Although the trench immediately
adjacent to EGBS024 yielded eight detectable nuggets, two of which
were in the range of 1-5 grams, no detectable nuggets were found
while excavating EGBS024. Processing yielded 3.7 grams of nuggets
from 96.3 cubic metres of gravel. The contrast in nugget yield
between the trench and bulk sample is illustrative of the irregular
distribution of gold in these gravels.
Bulk samples discussed in this news release were
collected from pits approximately 4 m wide and 16 m long under the
supervision of Novo personnel. Depth of pits varies from about
1-1.5 metres. Sandy soil overburden was generally stripped prior to
gravel extraction. Some underlying bedrock material was excavated
along with gold-bearing gravels to ensure capture of gold on the
bedrock interface. Each sample was excavated in lifts approximately
20-30 cm thick. Every lift was detected for gold nuggets by Novo
personnel prior to removal, and the location and weight of each
nugget was recorded without limitation prior to being securely
stored. Bulk sample gravel was transported to Novo’s Station Peak
camp where it was processed through the Company’s IGR 3000 gravity
gold plant. Various concentrates and tailings from the IGR 3000
plant are currently being analyzed to evaluate fine grain gold.
Once these results have returned, the fine gold contribution will
be added to the coarse gold tally. X-ray fluorescence analysis of
nuggets indicates purities ranging from 89-95%. Densities of
gravels vary widely generally ranging between about 1.4-2.1 tonnes
per cubic metre. Unlike hard rock gold deposits, alluvial gold
deposit grades are commonly reported in grams per cubic metres.
Dr. Quinton Hennigh, P. Geo., the Company’s
president, chairman, and a director, and a qualified person as
defined by National Instrument 43-101, has approved the technical
contents 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 13,000
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:A PDF accompanying this
announcement is available
at: http://ml.globenewswire.com/Resource/Download/69d7faf1-7e0b-463a-b329-992ad359d22f
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