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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Post by likeikeon Mar 29, 2021 9:10am

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Post# 32897252

NFG infill drilling

Keats Infill Drilling Returns 37.2 g/t Au over 6.45m and 17.9 g/t Au over 8.45m

Mon., March 29, 2021, 4:30 a.m. ·9 min read

VANCOUVER, BC, March 29, 2021 /CNW/ - New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (OTC: NFGFF) is pleased to announce assay results from an additional six holes drilled at the Keats Zone ("Keats"). These holes were drilled as part of the Company's ongoing 200,000m diamond drill program at its 100%-owned Queensway Project ("Queensway"), located on the Trans-Canada Highway 15 km west of Gander, Newfoundland.

VIEW PDF (CNW Group/New Found Gold Corp.)

Highlights

Highlights include:

Hole No.	From (m)	To (m)	Interval (m)*	Au (g/t)
NFGC-21-78	113.20	115.50	2.30	18.22
NFGC-21-86	141.95	150.00	8.05	5.6
NFGC-21-87	4.70	9.35	4.65	27.8
And	20.45	30.70	10.25	2.5
NFGC-21-97	174.95	181.40	6.45	37.1
NFGC-21-101	180.85	189.30	8.45	17.9

*Note that the host structures are interpreted to be steeply dipping and true widths are estimated to be 70% to 80% of reported intervals. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.

The intervals of 37.2 g/t Au over 6.45m and 17.9 g/t Au over 8.45m in drill holes NFGC-21-97 and NFGC 21-101 provide further confirmation of the continuity of the Keats high grade zone in the down-plunge direction (Figure 1).
Drill hole NFGC-21-87 returned 27.8 g/t Au over 4.65 m starting at 4.7m down-hole depth plus 2.51 g/t Au over 10.3 m starting at 20.5m down-hole depth, providing further confirmation of high-grade gold at bedrock surface at the north end of Keats.

Greg Matheson, P.Geo., COO of New Found, stated: "These results are significant in that they provide confirmation of the continuity of high-grade gold mineralization between our deeper results down plunge including the recently released 61.8 g/t Au over 13.65m in NFGC-21-118 and the more closely spaced drilled near-surface, high-grade results up-plunge (see Figure 1). Additional results in this area roughly centered around fence line 4700N are anticipated shortly. Current drilling at Keats is focused on extending the high-grade zone down plunge, providing further definition of the near surface, high-grade mineralization, and testing additional zones of high-grade mineralization including in the footwall veining."