Geophysical Surveys to Commence ON Battery Metals Targets IN the Karratha District of Western Australia
Suite 880, 580 Hornby Street
Vancouver, BC, Canada V6C 3B6
P: +1-416-543-3120 E: [email protected] www.novoresources.com
MAY 6, 2022
GEOPHYSICAL SURVEYS TO COMMENCE ON BATTERY METALS TARGETS
IN THE KARRATHA DISTRICT OF WESTERN AUSTRALIA
HIGHLIGHTS
• Novo’s battery metals exploration program is ramping up, with geophysical surveys already underway
in preparation for a significant drill program to commence in Q3 2022.
• Induced polarization (“IP”) ground geophysical surveys are currently being conducted across several
Ni-Cu targets and Au-Cu-Co targets in the Andover intrusion area and along the East Well/Bob’s Well
Cu-Zn volcanogenic hosted massive sulphide (“VHMS”) trend near Karratha, Western Australia.
• Fixed loop electromagnetic ground geophysical surveys (“FLEM”) are scheduled to commence later in
the month on Novo’s Purdy’s Reward North tenement adjacent to Azure Minerals Limited’s (“Azure”)
(ASX: AZS) Andover VC-07 Ni-Cu-Co massive sulphide discovery (“Andover”).
• A 1,550 km2 high resolution airborne magnetic and radiometric survey is scheduled to commence in
Q3 2022, including the Andover intrusion, VHMS trend and orogenic gold targets in the Becher area
southwest of De Grey Mining Ltd.’s (“De Grey”) (ASX: DEG) Hemi deposit.
• Other drill ready geophysical targets already defined by past exploration ists using FLEM include
Milburn and Anna Valley in the Andover intrusion area , and Bushmill, Roundstone, Banagher and
Wexford in the Dingo/Bullock Hide and Maitland Intrusions, adjacent to the Radio Hill Ni-Cu-Co Mine.
• This work is consistent with Novo’s accelerated exploration strategy targeted at growing the
Company’s portfolio of gold and battery metals prospects in the Pilbara region of Western Australia.
VANCOUVER, BC - Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO , NVO.WT & NVO.WT.A)
(OTCQX: NSRPF) has commenced advanced geophysical exploration for battery metals and gold at the
Karratha Project in the West Pilbara Region of W estern Australia. Geophysical exploration is designed to
follow-up on multiple airborne electromagnetic (“VTEM”) anomalies (previously defined in 2007 by Legend
Mining Limited (“ Legend”) (ASX: LEG)) 1 which have not b een drill tested, along with soil geochemical
anomalies (including Cu, Ni and Co) associated with the VTEM conductors, including Novo’s Southcourt and
Milburn prospects.
Dipole-dipole IP ground geophysical surveys have commenced along the East Well/Bob’s Well Cu -Zn
volcanogenic hosted massive sulphide trend. The IP survey is targeting disseminated sulphide rich alteration
haloes and zinc rich massive sulphide targets in zones of numerous exhalate chert and carbonate horizons
along strike of the old Whundo Cu-Zn mine. IP will also be utilized to test several disseminated to blebby Ni -
Cu sulphide zones , and sulphide related to A u-Cu-Co targets at various prospects in the Andover area on
Novo’s Purdy’s Reward North tenement E47/1745.
1 Refer to the Company’s news release dated November 30, 2021.
{02487985;1} 2
(Figure 1: Prospect location and proposed areas for ground geophysical surveys.)
FLEM, scheduled to commence later in May 2022, will target airborne VTEM anomalies on Novo’s Purdy’s
Reward North tenement in the fertile Andover mafic-ultramafic intrusion, adjacent to Azure’s Andover Ni-Cu-
Co massive sulphide discovery. The FLEM surveys will be capable of delineating massive to sub -massive
sulphides to depths of greater than 300 m to provide targets for diam ond drilling planned to commence in
Q2/Q3 2022. Historical exploration review, and recent mapping of five previously defined FLEM targets, have
advanced these targets to drill ready, awaiting heritage clearance.
The five targets previously defined by moving loop EM (“MLEM”) and fixed loop EM include the Milburn target
in the Andover intrusion area, and the Bushmill, Roundstone, Banagher and Wexford targets in the
Dingo/Bullock Hide and Maitland intrusions, adjacent to the Radio Hill Ni -Cu-Co Mine. All EM targets are
associated with fertile ultramafic and mafic intrusive rocks.
{02487985;1} 3
A 1 ,550 km2 detailed low -level 50 m spaced airborne magnetic and radiometric survey is scheduled to
commence in Q2/3 2022, including the East Well/Bob’s Well VHMS trend, the Andover intrusion and orogenic
gold targets in the Becher area southwest of De Grey’s Hemi deposit.
QP STATEMENT
Dr. Quinton Hennigh (P.Geo.) is the qualified person, as defined under National Instrument 43-101 Standards
of Disclosure for Mineral Projects , responsible for, and having reviewed and approved, the technical
information contained in this news release. Dr. Hennigh is the non-executive co-chairman and a director of
Novo.
ABOUT NOVO
Novo operates its flagship Beatons Creek gold project while exploring and developing its prospective land
package covering approximately 12,500 square kilometres in the Pilbara region of Western Australia . In
addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver
value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416)
543-3120 or e-mail [email protected].
On Behalf of the Board of Directors,
Novo Resources Corp.
“Michael Spreadborough”
Michael Spreadborough
Executive Co-Chairman and Acting CEO
Forward-looking information
Some statements in this news release contain forward -looking information (within the meaning of Canadian
securities legislation) including, without limitation, planned exploration activities. These 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 resource industry and the risk factors identified in Novo’s management’s
discussion and analysis for the year ended December 31, 2021 which is available under Novo’s profile on
SEDAR at www.sedar.com. Forward-looking statements speak only as of the date those statements are made.
Except as required by applicable law, Novo assumes no obligation to update or to publicly announce the results
of any change to any forward -looking statement contained o r incorporated by reference herein to reflect
actual results, future events or developments, changes in assumptions or changes in other factors affecting
the forward-looking statements. If Novo updates any forward -looking statement(s), no inference should be
drawn that the Company will make additional updates with respect to those or other forward -looking
statements.