Novo Resources Corp T.NVO

Alternate Symbol(s): NSRPF

Metals & Mining Gold

Novo Resources Corp. is a gold explorer focused on discovering gold projects. The Company is engaged primarily in the business of evaluating, acquiring, exploring, and developing natural resource properties with a focus on gold. It has a land package covering approximately 5,500 square kilometers in the Pilbara region of Western Australia, along with the 22 square kilometer Belltopper project in the Bendigo Tectonic Zone of Victoria, Australia. Its key project area is the Egina Gold Camp, where De Grey Mining is farming-in to form a JV at the Becher Project and surrounding tenements through exploration. The Company is also advancing gold exploration at Nunyerry North. It focuses on undertaking early-stage exploration across its Pilbara tenement portfolio. It has also formed a lithium joint venture with SQM Australia Pty Ltd (SQM) in the Pilbara, which provides shareholder exposure to battery metals. Its Belltopper Gold Project comprises the adjacent Malmsbury and Queens projects.

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Novo Resources Corp

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Post by Mineshackon May 13, 2019 7:42pm

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Post# 29742780

Novo Files Updated Beatons Creek Technical Report

VANCOUVER, British Columbia, May 13, 2019 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce:

(((News)))

Highlights:

The updated 2019 Resource Estimate includes a 30% increase in tonnes driven predominantly by an improved geological framework from the recent diamond drilling program compared to the previous 2018 estimate supported by the technical report titled “NI 43-101 Technical Report Resource Update, Beatons Creek Gold Project, Pilbara Region, Australia” issued on November 20, 2018 (the “2018 Resource Estimate”) and filed on SEDAR (www.sedar.com) under the Company’s profile on November 21, 2018.
The new model sees an increase of 115,000 oz Au (+33%) in the Indicated Mineral Resource category (over the 2018 Resource Estimate’s Measured + Indicated) within the Open Pit.
Recent three-stage gravity recoverable gold (“GRG”) test work on the fresh mineralization achieved a gravity recovery in the range of 89-95%.
The expanded 2019 Resource Estimate, along with Beatons Creek’s high metallurgical recovery (+97% gravity + carbon-in-leach; please refer to the Company’s news release dated March 7, 2017 for further details), make it the premier gold deposit in the Nullagine mining camp in the eastern Pilbara region.
Mineralization remains open to the north-west and south-west with several areas identified for resource development drilling.