Novo Resources Commences Pilbara Exploration Program
TSX VENTURE: NVO
VANCOUVER, British Columbia, April 29, 2019 (GLOBE NEWSWIRE) -- 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.
On Behalf of the Board of Directors,
Novo Resources Corp.
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.
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.