Novo’s First Egina Trench Supports Exploration Model
13 August 2019 - 10:32PM
Novo Resources Corp. (“
Novo” or
the “
Company”) (TSX-V: NVO; OTCQX: NSRPF) is
pleased to announce that its first exploration trench supports the
Company’s exploration model for targeted gold-bearing terrace
gravels at its Egina Gold Project, Western Australia.
- A total of 162 gold nuggets with a total weight of 324 grams
was recovered through systematic metal detecting of Novo’s first
exploratory trench (Figure 1). This total includes two large
nuggets weighing 83.18 grams and 78.14 grams, respectively (Figure
2)*. Most nuggets were recovered from near the base of the gravel
profile or on top of underlying bedrock.
- Nuggets were found scattered along the entire length of the 579
m long, 3.65 m wide north-south oriented trench, but most were
recovered from a 50 m long interval within a swale, or topographic
depression, in underlying basement rock as identified by ground
penetrating radar (“GPR”) near the northern end of
the trench. This swale is open to the east where it appears to
expand out onto the greater terrace
(https://www.youtube.com/watch?v=EVhv-os9QZE). Novo views the Egina
area as the edge of a much more expansive gold-bearing gravel
system, and this trench provides initial support for this
model.
- Most gold nuggets are a rounded, flattened shape characteristic
of gold nuggets derived from the much older bedrock conglomerate
deposits found across the region. Novo believes most of the gold at
Egina is derived from weathering and erosion of these
conglomerates.
- To better understand the occurrence of finer, undetectable
nuggets as well as fine gold in these gravels, Novo is collecting a
series of bulk samples from areas immediately adjacent to this
exploratory trench. Each sample has a footprint of 4x16 m. These
samples will be processed through the Company’s IGR 3000 gravity
gold plant at nearby Station Peak. The first bulk sample was
recently excavated and yielded 45 detectable nuggets weighing 63.86
grams. Initial results from these samples will be made available
once they have been processed.
- While the trench depth in the vicinity of the swale reached up
to 3 m, the average trench depth was only 0.9 m. Only about 0.2 m
of sandy soil caps the gravel profile. Trenching extended into
underlying bedrock by up to 0.2 m. The overall thin nature of sand
and sheetwash cover exposed in this trench suggests the targeted
gravel horizon is likely present at shallow depth over a broad area
across the terrace, a potentially favorable outcome that indicates
overburden stripping could be minimal.
- Trenching was conducted along the eastern margin of a
previously trenched area that was prospected by the previous owners
of the Egina mining lease. Unfortunately, data on the distribution,
number and size of gold nuggets from these older trenches was not
collected.
- Kariyarra Aboriginal Corporation has scheduled a heritage
survey/clearance process (please refer to the Company’s news
release dated August 1, 2019 for further details -
https://www.novoresources.com/news-media/news/display/index.php?content_id=359)
for additional exploration areas on the Egina mining lease
beginning August 26, 2019. Novo plans to subsequently expand its
current program of exploration trenching within cleared
areas.
* These two nuggets are not necessarily
indicative or representative of mineralization at the Egina
project
“GPR coupled with exploration trenching and
metal detecting is proving to be the most effective means of
exploration of the gold-bearing terrace gravels at Egina,”
commented Dr. Quinton Hennigh, President and Chairman of Novo. “We
are very encouraged by results from our first trench. Although
nuggets occur along the length of the trench, we can now clearly
see a connection between the slight topographic depression, or
swale, and high concentration of nuggets. Finding such large
concentration of large gold nuggets is a testament to the
uniqueness of the Egina gold system. We are hopeful the system is
opening up as we step away from the hills at Egina and onto the
greater terrace to the east, and we are looking forward to getting
further heritage clearance to explore more of this unusual
deposit.”
Novo staff detected and collected nuggets from
the exploration trench. Nuggets were subsequently measured,
weighed, and logged, without limitation, prior to being securely
stored. All relevant data to date has been verified by Novo
staff.
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 and
heritage clearances. 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.
https://www.globenewswire.com/NewsRoom/AttachmentNg/17bddb2e-67e9-4bee-a486-0fd49b3d6b3d
(Figure 1: Map showing the
exploration trench discussed in this news release (left). This
trench lies on the margin of an area disturbed by the previous
owner of the Egina mining lease (upper left). Nuggets are
represented by colored dots scattered along the length of the
trench. The highest concentration of nuggets occurs in an area near
the north end and is highlighted in the inset map on the right.
Novo has collected one bulk sample from this location (blue) and
plans to collect additional samples over the next few days.)
https://www.globenewswire.com/NewsRoom/AttachmentNg/b24ee076-e69c-43c8-ac79-16281a75d9cf
(Figure 2: Some of the larger
gold nuggets recovered from Novo’s first exploration trench at
Egina. Most nuggets are rounded and flattened. Starting in the
upper left and working clockwise, nuggets weigh 83.18, 78.14,
14.36, 14.15, 4.83, 20.54, 6.09 and 10.78 grams. The photograph is
of concentrated gold nuggets and is not necessarily indicative or
representative of mineralization hosted on the Egina gold
project.)
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