Novo Recovers Significant Coarse Gold From Bulk Samples at Egina
22 August 2019 - 11:36PM
Novo Resources Corp. (“
Novo” or
the “
Company”) (TSX-V: NVO; OTCQX: NSRPF) is
pleased to announce further positive results from its Egina gold
project, Western Australia. Novo has recovered significant coarse
gold from bulk samples of surface gravels collected from test pits
excavated next to its first exploration trench, where encouraging
results were announced previously (see the Company’s news release
dated August 13, 2019 -
https://www.novoresources.com/news-media/news/display/index.php?content_id=360).
Highlights:
- Metal detecting and gravity processing of 281.9 cubic meters of
surface lag gravels yielded a total of 292.38 grams of coarse gold
nuggets.* Of particular note, sample EGBS016 yielded 118.59 grams
of gold nuggets from 80.3 cubic meters of gravel, and sample
EGBS017 yielded 123.47 grams of gold nuggets from 66.8 cubic meters
of gravel (please refer to nearby table of results and Figure
1 for sample locations). Novo considers these results very
encouraging given many alluvial gold deposits display grades
significantly below one gram per cubic meter.
- Gold-bearing gravels lie at surface under a thin veneer of
sandy soil. Novo is currently evaluating extraction options that
are potentially simple and cheap including continuous mining
methods.
- All gold discussed in this news release is coarser than one mm
(Figure 2). Such coarse gold presents opportunity for simple and
cheap extraction methods including “dry” techniques that do not
require water. Novo is currently investigating use of mobile eddy
current separators and other effective, state-of-the-art processing
technologies as potentially viable methods of gold recovery.
- Bulk sampling was undertaken across a 64-m wide nugget-rich
zone within a broad topographic depression, or swale, identified by
ground penetrating radar (“GPR”). Novo is growing
more confident that GPR can help identify target areas to help
guide future exploration.
- The combination of exploration trenching and metal detecting
followed up by bulk sampling and processing has proved to be highly
effective at evaluating the gold-bearing gravel potential of the
vast terrace at Egina. Upon upcoming heritage clearance, Novo
anticipates expanding such exploration activity elsewhere within
the Egina mining lease.
* These nuggets are not necessarily indicative
or representative of mineralization at the Egina project.
Table of coarse gold
recoveries from four bulk samples at Egina:
|
|
|
Coarse Gold |
Fine Gold |
Bulk Sample Pit |
Position in Swale |
Volume (cubic m) |
Gold Nuggets Metal Detected While Excavating Bulk Sample
(grams)A |
Gold Nuggets Metal Detected in +5 mm Oversize Material
(grams)A |
Gold Nuggets from Sluice +1 mm (grams)A |
Gold Nuggets Recovered by IGR 3000 +1 mm
(grams)A |
Total Coarse Gold Nuggets (grams)A |
Gold in Shaker Table Concentrate (grams)B |
Gold in Shaker Table Tailings (grams)C |
Gold in IGR 3000 Tailings (grams)C |
Total Fine Gold (grams) |
EGBS016 |
Middle |
80.3 |
63.9D |
0.0 |
30.71 |
23.98 |
118.59 |
In Progress |
In Progress |
In Progress |
In Progress |
EGBS017 |
Middle |
66.8 |
77.4 |
0.0E |
30.67 |
15.40 |
123.47 |
In Progress |
In Progress |
In Progress |
In Progress |
EGBS018 |
South End |
59.7 |
15.8 |
0.0 |
6.13 |
16.88 |
38.81 |
In Progress |
In Progress |
In Progress |
In Progress |
EGBS021 |
North End |
75.1 |
8.6 |
0.0 |
0.27 |
2.64 |
11.51 |
In Progress |
In Progress |
In Progress |
In Progress |
Total |
64 m Long |
281.9 |
165.7 |
0.0 |
67.78 |
58.90 |
292.38 |
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.D – Additional
gold contained within rock was metal detected. Actual gold content
has not been determined or included in the gold weight in the above
table.E – See Figure 3. Additional gold was metal detected in the
oversize which is contained within rock. Actual gold content has
not been determined or included in the gold weight in the above
table.
“Our first Egina bulk samples have yielded
positive results in line with expectations,” commented Dr. Quinton
Hennigh, president and chairman of Novo. “These first four samples
were collected next to our recent exploration trench. Like our
first bulk sample collected in late 2018 from an area approximately
100 m west, these have yielded significant amounts of coarse gold.
We are quickly proving that the gold-bearing gravels can be
effectively targeted, explored and quantified at Egina, which is a
significant step for an extremely nuggety project such as this. In
addition, we now clearly see that we are dealing with a shallow,
easily extractable deposit dominated by coarse gold that could
prove simple to recover. The trajectory of this project is very
exciting. We eagerly anticipate excavating additional exploration
trenches and collecting further bulk samples at the Egina mining
lease after completion of upcoming heritage surveys.”
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 m. 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 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.
Figure
1: http://ml.globenewswire.com/Resource/Download/6937fe22-b298-4263-9632-c0f8ef607914
Figure
2: http://ml.globenewswire.com/Resource/Download/aa325201-faed-4af1-ba7d-892793d00021
Figure
3: http://ml.globenewswire.com/Resource/Download/7891ed07-4e21-4f86-8f3c-e0c3e779c409
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