Gold Price (USD) 1839.30
TSX.V NVO
OTCQX NSRPF

Novo Discovers Broad Gold-Bearing Swale at Egina Mining Lease and Discusses Terrace Concept

 

VANCOUVER, British Columbia, May 26, 2020 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce it has discovered a broad gold bearing swale in the northwestern part of its Egina mining lease. This new discovery ties in well with the Company’s overall interpretation regarding gold distribution across the greater Egina terrace.
 

Summary:

Discovery of new gold-bearing swale at Egina mining lease

Current interpretation of the greater Egina gold bearing terrace

“We are pleased to see a model coming together of gravel gold mineralization across the greater Egina terrace,” commented Quinton Hennigh, President and Chairman of Novo Resources. “We are starting to see a pattern of gravel gold distribution that appears robust around Egina. Recently discovered broad gold bearing swales discovered at Paradise likely tie back to areas further south. This implies we have a network of swales nearly 10 km wide and 17 km from south to north to further explore around Egina, a small part of our large land holdings across the expansive terrace. We have many other target areas to test across our terrace holdings this year. We are just getting started.”

Description of MAK sampling process:

MAK samples are collected from pits spaced approximately 50 metres apart 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 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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