Novo Drills More High Grade at Blue Spec

(TheNewswire)

VANCOUVER, BC / TheNewswire / November 29, 2016 - Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce assay results from recent drilling at its 100% controlled Blue Spec gold-antimony project, Western Australia.  All holes discussed in this news release were drilled using a truck-mounted reverse circulation drill and targeted areas around the Gold Spec high-grade shoot (please refer to Figure 1 below).

Hole 16BSDH034, a south-oriented hole drilled at -65 degrees, encountered 5.8 gpt Au over 31 meters, including a narrower high grade interval of 35.0 gpt Au over 4 meters, at a depth of approximately 50 meters below the Gold Spec high-grade and about 400 meters below surface (please refer to Figure 1 and the table of significant drill results immediately following this paragraph).  Repeat assays returned 6.9 gpt Au and 43.3 gpt Au from the longer and shorter intervals, respectively.  True width of the vein is uncertain because there is a significant northward rotation within the mineralized zone in this area, but it is probably around 25-35% of the reported drill intercept length.  

At a depth of about 200 m, holes 16BSDH012 and 16BSDH027 tested the east and west sides of the Gold Spec high-grade shoot, respectively.  Both holes were drilled from north to south at -60 degrees.  Hole 16BSDH012 encountered 15.2 gpt Au over 2 meters and hole 16BSDH027 encountered 40.8 gpt Au over 4 meters including 151.5 gpt Au over 1 meter.  Hole 16BSDH027 was the only hole to encounter appreciable antimony, 2.52% Sb and 8.53% Sb for the longer and shorter intervals, respectively.  True width of the vein is approximately half the length of reported intervals.

Hole 16BSDH028, drilled from north to south at -70 degrees, failed to intersect significant mineralization although it passed only a few meters east of an historic hole that encountered 254 gpt Au over 0.7 meters.  This hole may have encountered a post-mineral offsetting fault, may not have actually reached the target or may have hit a void spot within the mineralized envelope.  Given the robust intercept in hole 16BSDH034 just 50 meters below, it is clear that more drilling is needed to understand this area.

Hole 16BSDH010 clipped the eastern margin of the mineralized envelope and hole 16BSDH013 was drilled well to the east of the Gold Spec zone.  

Collectively, the results of the six holes discussed in this news release indicate the Gold Spec shoot plunges steeply to the west and is open at depth.  Given the nearby Blue Spec high-grade shoot persists to nearly 800 meters depth where it remains open, it is quite possible that the Gold Spec zone might expand similarly deeply.

“We are very pleased to see the Gold Spec high-grade shoot has significant room to expand,” commented Dr. Quinton Hennigh, President, CEO and a director of Novo Resources Corp.  “We hope to see it grow to a similar size as the nearby Blue Spec high-grade shoot.”

Drilling activities have ceased for summer break and to allow assay results to return and be digested.  Approximately 5,000 meters of drilling await assays.  Novo will continue to announce results as they return from the lab over the next few weeks.

RC samples were submitted to Genalysis Laboratory in Perth, Australia.  All samples were analyzed utilizing a 50 g pulp subjected to fire assay with an atomic absorption finish.  Overlimit samples (>10 gpt Au) were re-analyzed by fire assay with a gravimetric finish.  Sb was analyzed by ICP-MS following three acid digestion.

Quinton Hennigh (Ph.D., P.Geo.) is the Qualified Person pursuant to National Instrument 43-101 responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is President, CEO and a Director of Novo Resources Corp.

About Novo Resources Corp.

Novo’s focus is to evaluate, acquire and explore gold properties. Indirect subsidiaries of Novo hold a 100% interest in the Beatons Creek gold project, a 70% interest in  properties surrounding Beatons Creek and Marble Bar, a 100% interest in the Blue Spec gold-antimony project, and options covering approximately 400 square km over the Mosquito Creek Basin, all in the Pilbara region, Western Australia.  Novo also controls a 100% interest in approximately 2 sq km covering much of the Tuscarora Au-Ag vein district, Nevada.  For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com.  

On Behalf of the Board of Directors,

Novo Resources Corp.

“Quinton Hennigh”                       

Quinton Hennigh

CEO and President

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking information

Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, statements as to the expected receipt of results from various exploration and testing activities. Forward-looking statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the mineral resource exploration industry as well as Novo having sufficient cash to fund the planned drilling and other exploration activities.

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(Figure 1: Long section through the Gold Spec deposit showing historic drill intercepts and the locations of Novo’s recent drill intercepts.)

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