VANCOUVER, British Columbia, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that recent surface mapping and trenching indicates the upper gold-bearing conglomerate at Comet Well (80% Novo; 10% Gardner Mining; 10% Smith) appears continuous with the basal gold-bearing conglomerate at Purdy’s Reward (50% Novo; 50% Artemis joint venture on conglomerate and paleoplacer gold hereafter referred to as the “Novo-Artemis JV”), a current explored strike of approximately 3.4 km. These gold-bearing conglomerates remain open along strike to the northeast and southwest and down dip to the southeast into the Fortescue Basin. At Purdy’s Reward, exploration has recently re-commenced where infill drilling and bulk sampling is being undertaken to further evaluate the gold deposit.
Re-commencement of exploration at Purdy’s Reward
The Novo-Artemis JV recently commenced infill diamond drilling at Purdy’s Reward. These drill holes are utilized to gather information about the depth and thickness of targeted conglomerate units. Given the extremely nuggety nature of the deposit, gold grades are being assessed by bulk sampling. Bulk samples using Novo’s new 5-10 tonne sampling protocol will soon be collected from trenches in areas near where the Novo-Artemis JV collected 300 kg gold-bearing bulk samples in 2017.
Novo’s and the Novo-Artemis JV’s exploration strategy is to generate sufficient geologic and grade data for the gold-bearing conglomerates at Comet Well and Purdy’s Reward to produce a mineralization report, a critical item needed to convert the current exploration licenses to mining leases. The Novo-Artemis JV’s aim is to ultimately move the project toward large-scale bulk sample extraction and testing as a critical means of determining its potential viability with sufficient data available for a mineralization report by the end of 2018. For more details on the Novo-Artemis JV, please refer to the Company’s news release dated August 15, 2017.
Dr. Quinton Hennigh, the Company’s, President and Chairman 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 12,000 sq km with varying ownership interests. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail firstname.lastname@example.org
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. 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.
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