ORIGINAL: Significant Results from Becher with Target Priority Areas Identified
2023-02-14 08:56 ET - News Release
HIGHLIGHTS
- The Becher Area target is located in the northern section of the Egina Gold Camp along trend from De Grey Mining Limited’s 10.6 Moz Au (JORC 2012)1 Mallina Gold Project.
- Aircore drilling completed in 2022 on broad regional lines (640 m) focused on ENE trending gold-fertile structural corridors and has successfully defined three standout gold and associated pathfinder element targets at Irvine, Heckmair and Whillans.
- Targets are all located within an approximately 20 sq km area at Becher where only shallow cover of 10 - 20 m is present. Novo expects to commence follow-up drilling of these targets in Q2 2023.
- Peak aircore drilling results, including recently received 1 m split results (0.1 g/t Au lower cut-off), include2:
- Irvine:
- 8 m @ 2.15 g/t Au from 8 m (F0632)
- 23 m @ 0.56 g/t Au from 0 m (A0034)
- 2 m @ 0.91 g/t Au from 66 m (A003)
- Whillans:
- 8 m @ 0.20 g/t Au from 16 m (F0519)
- 4 m @ 0.37 g/t Au from 20 m (F1136)
- Heckmair:
- 4 m @ 0.40 g/t Au from 12 m (F0738)
- 3 m @ 0.44 g/t Au from 20 m (F0858)
- Reverse circulation drilling completed on 160 m lines, which centred on positive early-stage aircore results at Irvine and in conjunction with historical exploration, provided peak intercepts of2:
- 33 m @ 0.493 g/t Au from 33 m (G0005) including 5 m @ 1.28 g/t Au
- 20 m @ 0.406 g/t Au from 32 m (G0016)
- 24 m @ 0.390 g/t Au from 76 m (G0018)
- Highly anomalous base metal results returned adjacent to the main gold target at Heckmair, where a large mafic-ultramafic intrusion is juxtaposed by several significant faults. The peak result is 4 m @ 3.4 g/t Ag, 0.49% Pb and 0.1% Zn from 20 m (F0749).
- Recognised pathfinder elements As and Sb proving effective for targeting/defining mineralised structures.
- 20,000 m follow-up and extensional aircore drill program to commence in Q1 2023, with a primary focus on testing the Irvine, Heckmair, Bonatti and Lowe prospects, with RC contingency as required.
Note: Mallina Gold Project mineralisation is not necessarily representative of mineralisation throughout the Becher Area or the Egina Gold Camp.
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Mike Spreadborough, Novo’s Executive Co-Chairman, Acting Chief Executive Officer and a director, said, “We are very pleased with the progress we have made on the drilling program so far and are looking forward to further results from follow-up drilling in the first half of 2023, when drilling is also expected to commence at the Nunyerry North prospect.
“The success of the current drilling program in the Becher Area, combined with previously reported results from Nunyerry North, reconfirm the significant potential of the Egina Gold Camp.”