Novo Identifies High Grade Zone at its Talga Talga Gold Project, Western Australia
VANCOUVER, BC / TheNewswire / September 22, 2016 - Novo Resources Corp. ("Novo" or the "Company") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce recent surface sampling has identified a significant high-grade gold zone at its newly acquired Talga Talga gold project, Western Australia (please refer to a news release dated September 16, 2016 for further details). Spot rock chip samples collected along and around a concordant shear zone between a metasedimentary chert horizon and adjacent metavolcanic rocks have returned gold grades ranging from 0.01-200.7 grams per tonne gold (please see Figure 1 below). This gold-bearing shear zone trends NE and dips at about 40 degrees to the NW. To date, samples have been collected along 400 meters of strike, and the zone remains open to the NE and SW.
The Talga Talga project is comprised of seven mining and prospecting licenses covering about 5 sq km in an area 22 km NE of the town of Marble Bar, Western Australia. Gold mineralization is hosted by some of the oldest rocks on Earth, greenstone dating to about 3.2 to 3.6 billion years before present. Greenstone was intruded by granite at around 3.0 to 3.2 billion years ago, and collectively, the granite-greenstone assemblage forms the core of the Pilbara craton. Gold at Talga Talga is believed to have been deposited very early, likely before 3.2 billion years, making this one of the oldest gold systems on Earth. In comparison, gold mineralization at Beatons Creek and Mosquito Creek where Novo is conducting ongoing development and exploration, is several hundred million years younger than at Talga Talga. Interestingly, much of Talga Talga's gold occurs as electrum, a natural gold-silver alloy.
Talga Talga is widely regarded as a coarse gold system. Early prospecting and mining beginning in the late 1800's resulted in discovery of numerous gold specimens ranging from tens to hundreds of oz gold. Using metal detectors, modern prospectors have continued to discover large alluvial gold nuggets at Talga Talga in recent decades. One lode source, the McPhee's Reward quartz-carbonate vein, has traditionally been regarded at the principal source for much of this coarse alluvial gold.
Recognizing potential for other lode sources, Novo decided to focus exploration on a NE-trending shear zone that bounds a metasedimentary chert horizon and adjacent metavolcanic rocks. Several very old prospect pits are evident along this zone. Eleven spot rock chip samples of particular note returned high-grade assays between 14.18 and 200.70 gpt Au. Mineralization appears related to brecciation and quartz-carbonate alteration and is accompanied by minor sulfide, mostly pyrite. Visible gold is evident in all of these samples. Novo thinks this zone is an important source of coarse alluvial gold on the property and suspects it continues along strike to the NE and SW. Further exploration will be undertaken later this year.
"We are pleased with the discovery of this new high-grade gold zone," commented Dr. Quinton Hennigh, President, CEO and a director of Novo Resources Corp. "We see Talga Talga as a 'pipeline' project that might provide further gravity recoverable gold potential to our Pilbara operations. This new zone displays abundant coarse gold and is entirely untested by previous drilling. We look forward to undertaking more detailed sampling and mapping on this exciting new discovery."
Surface samples were submitted to Genalysis Laboratory in Perth, Australia. Given the occurrence of coarse gold, Novo had all samples analyzed utilizing a 1 kg charge subjected to LeachWell(TM) technique. Novo employed such analyses with good results at its Beaton Creek project about 110 km south of Talga Talga.
Quinton Hennigh (Ph.D., P.Geo.) is the Qualified Person pursuant to National Instrument 43-101 responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is President, CEO and a Director of Novo Resources Corp.
About Novo Resources Corp.
Novo's focus is to evaluate, acquire and explore gold properties. Indirect subsidiaries of Novo hold a 100% interest in the Beatons Creek gold project, a 70% interest in properties surrounding Beatons Creek and Marble Bar, a 100% interest in the Talga Talgagold project, a 100% interest in the Blue Spec gold-antimony project, and options covering approximately 400 square km over the Mosquito Creek Basin, all in the Pilbara region, Western Australia. Novo also controls a 100% interest in approximately 2 sq km covering much of the Tuscarora Au-Ag vein district, Nevada. 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
CEO and President
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.
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(Figure 1: A concordant shear zone between a metasedimentary chert horizon and adjacent metavolcanic rocks have returned gold grades from spot rock chip samples ranging from 0.01-200.7 grams per tonne gold.)
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