RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Yes WGNote actual dilution results of 20 to 30%:
VANCOUVER, BC / TheNewswire / January 10, 2017 - Novo Resources Corp. ("Novo" or the "Company") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce results from bulk sample processing at its 100% controlled Beatons Creek gold project, Western Australia. In 2016. The resource block model of the bulk sample area generates undiluted grades averaging 1.65 gpt Au in the indicated category (please refer to the Company's news release dated September 16, 2015 for further information about the resource estimate and to the technical report entitled "NI 43-101 Technical Resource Report, Beatons Creek Gold Project, Pilbara Region, Australia" prepared by Arnand van Heerden (PGeo, SACNASP, MAusIMM) of Tetra Tech which was filed under Novo's profile on SEDAR on October 13, 2015). Between September 19 and November 11, 2016, Novo processed a 9,680 dry tonne representative subsample of the 30,000 tonne bulk sample. This subsample generated a calculated head grade of 1.88 gpt Au, 14% greater than the predicted grade. Given that waste dilution is estimated between 20 and 30%, the undiluted bulk sample grade is potentially higher than 1.88 gpt Au. Assays of waste material are required to adequately determine undiluted grades.
Novo thinks the resulting diluted calculated head grade of 1.88 gpt Au from this bulk sample affirms the existing NI 43-101 resource model. Therefore, Novo is content to proceed with completion of its preliminary economic assessment due later in the first quarter of 2017.