Novo Commences Pilbara Exploration Program
29 April 2019 - 10:09PM
Novo Resources Corp. (“
Novo” or
the “
Company”) (TSX-V: NVO; OTCQX: NSRPF) is
pleased to provide an update on current exploration programs.
Following the end of a late wet season, Novo has commenced its 2019
Pilbara exploration program at both the Egina and Karratha gold
projects.
Egina Exploration Plan
Highlights:
- At Egina, work in progress includes
detailed mapping, and small-scale trench “pan” sampling, in
preparation for an upcoming aggressive program of 100-tonne bulk
sampling and processing, all of which will initially be conducted
on the mining leases obtained through the Company’s acquisition of
Farno-McMahon Pty Ltd in October 2018 (for further details, please
see the Company’s news releases dated September 17 and October 1,
2018 - http://novoresources.com/news-media/news/). The goal of bulk
sampling will be to establish protocols for defining resources
across the targeted terrace.
- Novo also plans to undertake a
ground penetrating radar survey of target areas to better assess
thickness of the targeted terrace gravel horizon. Importantly, this
work may help identify subsurface swales and depressions where gold
may be trapped and better help focus bulk sampling efforts.
- A series of upgrades to the onsite
IGR3000 gravity gold processing plant are expected to be completed
during May in preparation for commencement of bulk sample
processing. Certain adjustments are expected to increase
efficiencies of processing and ensure capture of gold.
- Reconnaissance exploration is being
undertaken throughout the Egina District to better assess the
extent of gold-bearing terrace gravels.
Karratha Exploration Plan
Highlights:
- At Karratha, a program of target
generation supported by detailed mapping and sampling has commenced
along an approx. 8km strike trend to the northeast and southwest of
Comet Well and Purdy’s Reward.
- A mineralization report for the
Karratha gold project is expected to be complete by early May.
Potential trial bulk sampling options on existing Exploration
Licenses at Comet Well and Purdy’s Reward are under assessment as
an alternative path, prior to the decision to commence Mining
License conversion.
- Plans have been formulated for a
regional helicopter-supported reconnaissance program exploring for
additional conglomerate-hosted gold along +300-line kilometers of
interpreted stratigraphic unconformities within newly-granted
Novo-controlled tenements. The objective of the program is to
speedily identify, prioritize and test additional prospective
targets for conglomerate-hosted gold so that the Company can
effectively reconcile its land holdings.
In the East Pilbara, the options study announced
in the Company’s news release dated April 17, 2019 continues apace,
and planning for additional exploration programs on several targets
in the region during the 2019 field season is also underway.
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
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 completion of certain
matters. 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.
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