Gold Price (USD) 1905.60
TSX.V NVO
OTCQX NSRPF

Novo Provides Operational Update From Beatons Creek and Millennium

 

VANCOUVER, British Columbia, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“ Novo ” or the “ Company ”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to provide an operational update, including from its Beatons Creek gold project (“ Beatons Creek ”) on which development activities have commenced, and from refurbishment works on infrastructure recently acquired pursuant to the acquisition of Millennium Minerals Limited (“ Millennium ”) which are proceeding on schedule ( p lease see the Company’s news releases dated August 4, 2020 and September 8, 2020 for further details ).
 

Refurbishment works on Millennium’s infrastructure is proceedings as follows:

Plant refurbishment works:

Power restoration to site:

Camp upgrade works:

Development activities at Beatons Creek are progressing as follows:

Commencement of development activities:

Grade Control Drilling works:

Major tenders currently under negotiation:

In addition, the Company is pleased to announce the following key personnel appointments and ongoing recruitment activity:

Novo CEO and Director Rob Humphryson commented, “Novo is delighted with the rapid progress being made at Beatons Creek and the recently acquired Millennium infrastructure. We are assembling an experienced and enthusiastic operational team who have a sense that they are integral to pioneering a new era of conglomerate gold production in Western Australia. This enthusiasm is being mirrored by our contracting partners, stakeholders and government regulators alike, with a growing awareness that this mineralization style has the potential to develop into a basin wide opportunity.”

About Novo Resources Corp.

Novo is advancing its flagship Beatons Creek gold project to production while exploring and developing its highly prospective land package covering approximately 14,000 square kilometres in the Pilbara region of Western Australia. 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, the successful completion of plant refurbishments works on time and on budget at the Beatons Creek and Millennium and that Novo’s board of directors will take the decision to commence production of Novo’s Beatons Creek property. 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, the successful completion of commercial discussions with KPS, the successful completion of the camp upgrade work currently being completed by PRG, the successful completion of site establishment works at Beatons Creek by EMC, the successful completion of grade control drilling works by Castle Drilling, MinAnalytical’s ability to assay the Company drill samples in a timely and cost-effective manner, the successful completion of commercial discussions with MinAnalytical regarding the establishment of an on-site laboratory at Millennium, the successful completion of mining and camp management services contracts, and customary risks of the resource industry.

PDFs accompanying this announcement are available at:

http://ml.globenewswire.com/Resource/Download/60c30e30-e960-459b-b737-653ad5a40298

http://ml.globenewswire.com/Resource/Download/a3de23c5-c513-4726-84c2-f0fd6ff98acc

 

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