Novo Receives Bulk Sampling Assays From Beatons Creek
VANCOUVER, BC / TheNewswire / September 28, 2016 - Novo Resources Corp. ("Novo" or the "Company") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce LeachWell assay results from 33 bench samples collected while excavating its 30,000 tonne bulk sample at its 100% controlled Beatons Creek gold project (please refer to Novo's news release dated September 6, 2016 for further information). Grades range from 0.62 to 11.54 gpt Au and average 2.78 gpt Au (see Figure 1 below). Samples were taken according to Novo's costean sampling protocol in which 50 kg of representative gold-bearing conglomerate were collected, in this case, from small trenches dug into the pre-stripped target horizon prior to extraction.
The resource block model of this area estimated grades ranging from about 0.5 to just under 5.0 gpt Au and averaging 1.65 gpt Au, all in the indicated category (please refer to Novo's news release dated September 16, 2015 for further information about the resource estimate and to the technical report entitled "NI 43-101 Technical Resource Report, Beatons Creek Gold Project, Pilbara Region, Australia" prepared by Arnand van Heerden (PGeo, SACNASP, MAusIMM) of Tetra Tech which was filed under Novo's profile on SEDAR on October 13, 2015). Novo decided to extract its 30,000 tonne bulk sample from this location because resource blocks display a wide range of grades, and because the overall grade of this bench was predicted to be somewhat lower than that of the greater oxide resource. Because of the high nugget effect at Beatons Creek, and because it has been suspected that reverse circulation drilling significantly underrepresents grades (please refer to Novo's news release dated April 21, 2015 for further information), Novo wanted to test an area with lower grade material to better understand its impact. It is worth noting that of 33 bench samples, four report grades lower than nearby resource blocks whereas 29 report grades similar or better than nearby resource blocks.
Novo is currently processing its 30,000 tonne sample of mineralized conglomerate. During processing, coarse gold particles are recovered and samples of tailings are collected such that a more refined estimation of grade can be attained. Results from this exercise are expected late this year.
"We are very pleased to see bench sample grades exceed predicted block model grades at Beatons Creek," commented Dr. Quinton Hennigh, President, CEO and a director of Novo Resources Corp. "While preliminary, these results suggest grades might be higher than we think. Processing of the bulk sampling material will provide further understanding. We eagerly await these results expected back later this year."
Bench samples discussed in this news release were collected under the supervision of Dr. Quinton Hennigh, Novo's Chief Executive Officer, President and Director. Samples were taken through thoroughly oxidized gold-bearing reef material, are representative and can be considered bulk samples given their large size (~50 kg). Samples were submitted to Genalysis Laboratories, Perth, WA for analysis. Preparation entails crushing the entire sample to -2 mm and pulverizing a 9 kg split to P80 -100 microns. A three kg split of pulverized material is subjected to the LeachWell technique, an accelerated CN leach (6 hour leach time) then subjected to analysis by mass spectrometry.
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 Talga gold 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.
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 the expected receipt of results from various exploration and testing activities. Forward-looking 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 exploration industry as well as Novo having sufficient cash to fund the planned drilling and other exploration activities.
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(Figure 1: Map showing grades ranging from 0.62 to 11.54 gpt Au and averaging 2.78 gpt Au at the Company's 30,000 tonne bulk sample at its 100% controlled Beatons Creek gold project.)
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