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Novo Reports Broad Gold-Bearing Gravel Swales Discovered at Egina

 

VANCOUVER, British Columbia, April 16, 2020 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce the discovery of broad gold-bearing gravel swales near Paradise, part of the Company’s extensive Egina gold project, Western Australia. Discovery of gold-bearing gravels at the Paradise and Road to Paradise targets was first announced in Novo’s news releases dated December 17, 2019 (https://www.novoresources.com/news-media/news/display/index.php?content_id=371) and February 13, 2020 (https://www.novoresources.com/news-media/news/display/index.php?content_id=379), respectively. In addition, Novo has made a further discovery of gold-bearing gravels at a new target called Clarke approximately 10 km northwest of the test area worked in 2019.
 

Highlights:

“We are very happy with the discovery of two extensive gold-bearing gravel swales at Paradise,” commented Dr. Quinton Hennigh, Chairman and President of Novo. “We are getting our first look at how these gold-bearing channels evolve further onto the terrace. Although much more work is needed, including bulk sampling to evaluate grade, swales appear to broaden as we head northward. This is what we need to see to generate volume. Given that we have numerous areas planned for systematic MAK sampling in 2020, promising results from the first area to be methodically tested gives us high hopes the geologic model will quickly foment across the greater terrace.”

Description of MAK sampling

MAK samples are collected from pits spaced at approximately 50 metres across target areas. Pits are dug by track hoe and range up to 3 metres depth. Targeted sample size is approximately one tonne. Samples are placed in wooden crates lined with bulka bags and transported to Novo’s Station Peak camp where they are processed through a mobile alluvial Knudsen centrifugal concentrator. Concentrates are panned down to reveal gold for point counting and further study.

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 primarily 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 square kilometres with varying ownership interests. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. 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 testing 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.

PDFs accompanying this announcement are available at:

http://ml.globenewswire.com/Resource/Download/a5f3d5cb-9d7d-41d1-bee2-4de2f5ab287d

http://ml.globenewswire.com/Resource/Download/1678797e-08d0-4dc9-8b91-df0e2fa9e98a

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