Figure 1
Bird’s-eye view of the Golden Eagle Mill.
Bird’s-eye view of the Golden Eagle Mill.
Figure 2
Establishing valley fill waste dumps and accessing the M1 mineralized horizon in the Edwards area.
Establishing valley fill waste dumps and accessing the M1 mineralized horizon in the Edwards area.
Figure 3
Edwards 02 mining area, demonstrating minimal displacement post blasting.
Edwards 02 mining area, demonstrating minimal displacement post blasting.
Figure 4
View of a bench at Grant’s Hill showing geologic mark-up of four conglomerate beds in preparation for mining. Bench height is 2.5m.
View of a bench at Grant’s Hill showing geologic mark-up of four conglomerate beds in preparation for mining. Bench height is 2.5m.
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VANCOUVER, British Columbia, April 29, 2021 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO & NVO.WT; OTCQX: NSRPF) is pleased to provide an update of the ramp-up of operations at the Beatons Creek conglomerate gold project in Western Australia (“Beatons Creek”).
Highlights
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Commissioning and ramp up have progressed safely (no lost time injuries recorded to date) and within expectations amid a favourable gold price environment (Australian gold price currently above A$2,275 per oz)
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Since commencement of processing operations on February 3, 2021 and pouring of Novo’s first gold bar on February 16, 2021, a total of 7,375 fine oz Au and 1,158 fine oz Ag have been sold to date
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Processing facility (the “Golden Eagle Mill”) operating at 1.5 Mt per annum throughput, as expected, with demonstrated higher capacity
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Mining and haulage operations are progressing within expectations
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In line with broader industry experience, significant delays have been experienced in third party assay turnaround with only around half of all grade control sample results returned to date. Novo geologists have compensated for these delays by successfully visually identifying mineralisation bands to guide selective mining operations
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Mining and geological processes are continually being refined to optimize mining and processing operations and to minimize mineralization loss and dilution
“Novo is delighted to have assembled a high calibre team in such a short timeframe and in a buoyant commodity market,” commented Rob Humphryson, CEO and a director of Novo. “Considerable progress has been made to date and we continue to generate positive momentum as we ramp up production at Beatons Creek to steady state.”