Gold Price (USD) 1769.83
TSX.V NVO
OTCQX NSRPF

Novo Provides Second Operational Update From Beatons Creek

 

VANCOUVER, British Columbia, Oct. 30, 2020 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“ Novo ” or the “ Company ”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to provide a further operational update, including from its Beatons Creek gold project (“ Beatons Creek ”) on which development activities continue, and from refurbishment works at the Nullagine processing facility and associated infrastructure which are proceeding on schedule ( p lease see the Company’s news release dated October 15, 2020 for the Company’s previous operational update ).
 

Development activities at Beatons Creek:

Civil works:

Grade control program:

Refurbishment works on the Nullagine Processing Facility :

Plant refurbishment:

Overall works are on schedule with no material issues or problems encountered. Whilst early in the refurbishment works program, costs continue to track in line with budget expectations.

Long lead items have all been ordered and arrival dates identified to fit with the refurbishment schedule.

Personnel :

The senior management team for the Nullagine Gold Project is now complete with the recruiting of Processing Manager Mr. Barend Knoetze. Barend presents as a great cultural fit and the Company welcome him to the team. Mr. Knoetze brings a wealth of gold and precious metals processing and general management experience across multiple operations throughout Africa and Asia, with the bulk of his career spent in Australia.

Major tenders currently under negotiation:

Novo CEO and director Rob Humphryson commented, “Novo’s site team are making great progress, with works progressing according to plan on all fronts. With the addition of Mr. Barend Knoetze to the team in the role of Processing Manager, the senior management team is now complete, allowing them time to wrap their minds around the unique challenges associated with the Beatons Creek conglomerate gold deposit. The Company has received very favourable responses from experienced primary mining contractor candidates who appear very aware of the importance of winning the first contract and building a relationship with a company with such strong growth prospects.”

Dr. Quinton Hennigh (P.Geo.) is the qualified person pursuant to NI 43-101 responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is President, Chairman, and a director of Novo.

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 development and plant refurbishments works on time and on budget and that Novo’s board of directors will make the decision to commence production at Beatons Creek. 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 site establishment works at Beatons Creek, the successful completion of grade control drilling works by Castle Drilling, MinAnalytical’s ability to assay the Company’s drill samples in a timely and cost-effective manner, the successful completion of mining, camp management, fuel supply, processing reagents, assay laboratory services, flights, and haulage services contracts, and customary risks of the resource industry.

PDFs accompanying this announcement are available at:

http://ml.globenewswire.com/Resource/Download/bae4d119-3a89-4723-9a06-e243c6daf284

http://ml.globenewswire.com/Resource/Download/07cfbf72-0149-4387-871f-fe85e1c8d010

http://ml.globenewswire.com/Resource/Download/a2f0baca-9e13-42cf-891c-946403be36b8

http://ml.globenewswire.com/Resource/Download/d91fb873-3342-4419-8e39-1cee24bec49e

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