Becher Area Mineralisation Expands with More Standout Results
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Suite 1100, 1199 West Hastings Street
Vancouver, BC, Canada V6E 3T5
P: +1-416-543-3120 E: [email protected] www.novoresources.com
NOVEMBER 30, 2022
BECHER AREA MINERALISATION EXPANDS
WITH MORE STANDOUT RESULTS
HIGHLIGHTS
• Reverse circulation (“RC”) drilling has commenced in the Becher Area, with two rigs now testing prospects
within 216 sq km of highly prospective, under-explored Mallina Basin geology on the Egina Project along
trend from De Grey Mining Limited’s Hemi Gold Deposit.
• Standout gold results received from aircore (“AC”) drilling at the Irvine prospect, including 4 m @ 4.02 g/t
Au from 8 m, with numerous intercepts > 0.1 g/t gold.
• A broad 100 m to 250 m wide intense quartz-veine d alteration zone has been identified at the Lowe
prospect across two 320 m spaced AC drill lines, extending beyond 500 m in strike length (awaiting assays).
• At the Irvine prospect, which contains previously reported assays in AC drilling of 20 m @ 0.67 g/t Au, the
first 12 RC drill holes totalling 1,109 m have intersected numerous zones of veining and alteration with
sulphide. These RC samples are prioritised for assaying.
• Two follow up AC drill lines, southwest on the Irvine Shear corridor, have extended the strike of the
alteration zone to over 1.5 km.
• The systematic AC program in the Becher Area to date includes over 1,120 shallow holes for more than
26,500 m of the > 30,000 m program, on 26 drill lines and continues to generate exciting new targets. Gold
assays have been received for over half of the aircore program.
• AC and RC drilling programs will be suspended during the wet season from mid-December 2022 to March
2023.
Novo’s Executive Co -Chairman and acting Chief Executive Off icer, Mike Spreadborough 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 will also commence at the Nunyerry North
prospect.”
“The success of the current drilling program in the Beacher Area, combined with previously reported results
from Nunyerry North, reconfirm the potential of the Egina District to support a standalone operational hub.”
AC drill traverse at Heckmair Prospect, Becher Area.
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VANCOUVER, BC - Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO , NVO.WT & NVO.WT.A)
(OTCQX: NSRPF) is pleased to provide an update on the Company’s aggressive exploration program in the
Egina District within Novo’s 10,500 sq km Pilbara exploration portfolio (Figure 1).
A comprehensive drilling program is systematically testing high-priority structural and intrusive -related gold
prospects within the wider Becher Area (Figure 2). At present two drill rigs are now committed to the program.
To date over 1,120 holes for some 26,500 m of a planned >30,000 m regional AC drill program in 2022 are
complete and a deeper targeted RC drilling program has commenced. The RC drilling program will test targets
identified from the regional AC drilling program.
The Becher Area drilling program will be suspended during the wet season from mid-December 2022 to early
March 2023.
A heli-supported mapping , soil and rock chip sampling program has been recently completed at Nunyerry
North (Figure 2), located approximately 80 km south of the Becher Area, to follow up previous exploration
results1. This program was completed in preparation for drill targeting in Q2-2023, with assay results still to
come
Results referred to in this news release are not necessarily representative of minerali sation throughout the
Egina District.
Figure 1: Map of the Novo Resources’ 10,500 sq. km exploration tenement portfolio in the Pilbara Western Australia.
1 Refer to the Company’s news release dated September 6, 2022.
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Figure 2: Map of the Egina District tenements showing priority prospects, including the Becher Area in the north and Nunyerry North
in the south.
EGINA DISTRICT
Becher Area
The Becher Area (northern E47/3673, 100%-owned by Novo) is located ~28 km to the WSW of De Grey’s Hemi
gold deposit 2 and contains multiple high -priority, orogenic gold targets in the prospective under -explored
Mallina Basin.
All priority 1 holes from the current AC drilling program will be completed prior to suspension of the program
in mid-December 2022. The program will recommence in March 2023 post the wet season.
The drill program is systematically testing multiple structural and intrusive targets along a series of interpreted
significant shear corridors, including the ENE trending Irvine and Bonatti Shears and the EW trending Whillans
and Heckmair Shears. The AC drilling program commenced in early September 2022, with over 1,120 holes for
26,500 m completed to date. Drill holes are relatively shallow, averaging approximately 26m. A minimum of
30,000 m of priority 1 AC drilling had been planned for 2022, however Novo expects to exceed this. The
program was designed to test four shear corridors and numerous sanukitoid targets, as well as historical
drilling results and antimony-arsenic-gold soil anomalies defined by previous explorers1. To date, regional drill
traverses at approximately 640 m line spacing and 25 m hole spacings have been completed across the Irvine
Shear, the Whillans Shear and the Heckmair Shear, with the AC drilling rig now focussing on the northeast at
the Lowe Prospect. Gold assays have been received for over half of the AC program.
2 Refer to De Grey’s public disclosure record
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Figure 3: Becher target area showing the position of the De Grey Hemi gold discovery (JORC 2012) to the east-northeast of the Becher
Area along the interpreted fertile corridor; background aeromagnetic greyscale mosaic; Novo tenure outlined in green. The De Grey
Hemi gold discovery is not necessarily representative of mineralization throughout the Egina District.
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Figure 4: Map showing progress of AC and RC drilling to date, aeromagnetic greyscale mosaic and structural interpretation. The blue AC holes and red RC holes are completed whilst planned
holes are in black.
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Best new intercepts from drilling in the Heckmair area include:
• 8m @ 2.13g/t Au from 8m (including 4m @ 4.02g/t Au from 8m) (F0632)
• 4 m @ 0.4 g/t Au from 12 m (F0738)
• 4 m @ 0.17 g/t Au from 12 m (F0739)
• 4 m @ 0.17 g/t Au from 12 m (F0740)
• 4 m @ 0.23 g/t Au from 0 m (F0748)
• 4 m @ 0.35 g/t Au from 12 m (F0756)
• 4 m @ 0.32 g/t Au from 12 m (F0760)
• 8 m @ 0.23 g/t Au from 8 m (F0761)
All anomalous results are recorded in Table 2 in the Appendix. True widths cannot be estimated at this
time.
Irvine Shear Corridor/Irvine Target
RC drilling has commenced at Becher, with 1,109 m in 12 holes completed to date. The first drill section was
targeted to progress previous exciting AC results within the Irvine Shear corridor, which contained 20 m @
0.67 g/t Au1. The drill holes have intersected numerous zones of intense alteration with quartz veining and
some sulphidic zones. These RC samples will be prioritized for assay. Twenty-two priority 1 RC holes remain to
be drilled.
Figure 5 Southern Irvine Shear Corridor - AC and RC drilling update. Results from AC sampling to date displayed as maximum
downhole Au (g/t) in hole.
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Figure 6: RC drilling traverse from the southern Irvine Shear Corridor.
In addition, two AC drill lines have also been completed further west-southwest on the southern Irvine Shear
corridor, extending the strike continuity of the alteration intersected previously (trend now >1.5 kms).
Best intercepts previously reported on the Irvine Shear include:
• 6 m @ 0.15 g/t Au from 24 m (A0028)
• 12 m @ 0.16 g/t Au from 12 m (A0029)
• 8 m @ 0.22 g/t Au from 4 m (A0033)
• 20 m @ 0.67 g/t Au from 0 m (A0034);
• 12 m @ 0.24 g/t Au from 0 m (A0035)
• 6 m @ 0.21 g/t Au from 24 m (A0038)
Refer to Appendix 1 below for a complete list of assay results. True widths cannot be estimated at this time.
Nunyerry North
The geology of the Nunyerry North target area includes quartz vein -related gold mineralization within a
sequence of ultramafic kom atiites and mafic rocks, juxtaposed by regional shears and offset faults. Novo’s
exploration licence 47/2973 is 70% -owned, with the remaining 30% held by Mark Creasy and entities
controlled by him.
Follow up heli -supported mapping, soil and rock chip sampl ing have recently been completed at Nunyerry
North (assays pending), which is also located within the Egina District and approximately 80 km south of
Becher. This program was completed in preparation for drilling targeting in Q2-2023.
Nunyerry North hosts a 1.4 km long, high-order surface soil anomaly, where rock chip sampling in 2021
returned peak high-grade results from quartz veins including 30.3 g/t Au, 21.1 g/t Au and 9 g/t Au; with
additional sampling in 2022 delivering 8.81 g/t Au and 7.39 g/t Au1. In addition, specimen gold has been
detected in the main target area1. Follow-up work planned includes heritage surveys and logistics for road
access in preparation for drilling in 2023.
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Figure 7: Close up of high-grade quartz veins at Nunyerry North. Multiple sheeted shallow dipping quartz veins have formed at the
contact of a shear zone and brittle high MgO basalt.
ANALYTIC METHODOLOGY
Four-metre composite samples of AC chips were sent to Intertek Genalysis (“ Intertek”) in Perth, Western
Australia with the entire sample smart crushed to -3mm (NVO02 prep code), with a 500 g split sample analysed
for gold using Photon Assay (PHXR/AU01). An additional bottom hole sample from each drill hole (1 to 4 m
composite representing rock from the bottom of the drill hole) was assayed using four acid digest and 50 g
charge fire assay FA50/OE and for 48 multielement using four acid digest – MS finish (4A/MS) – results are
pending.
QAQC procedures to date include insertion of a certified blank approximately every 25 samples (4 per
hundred) and duplicate sampli ng (split of 4m composite) at the rate of 4 per hundred. Intertek insert s
customized Chrysos certified standards at the rate of 2 per hundred.
RC holes G0001 to G0001 2 (inclusive) (cyc lone split 1 m samples) were sent to Intertek Perth, Western
Australia with the entire sample smart crushed to -3 mm (NVOO2 prep code), with a 1000 g split sample (2 jar
photon assay) analysed for gold using photon assay (PHXR/AU01). QAQC for RC samples are inserted at the
rate of 4 standards per 100, 4 blanks per 100 and 4 riffle split duplicates per 100, providing a total of 12%
QAQC.
There were no limitations to the verification process and all relevant data was verified by a qualified person
as defined in National Instrument 43 -101 Standards of Disclosure for Mineral Projects (“NI 43 -101”) by
reviewing analytical procedures undertaken by Intertek.