Novo Commences 15,000 m RC Drilling Program at the Parnell-Vulture Trend at Nullagine
Suite 880, 580 Hornby Street
Vancouver, BC, Canada V6C 3B6
P: +1-416-543-3120 E: [email protected] www.novoresources.com
November 19, 2021
Novo Commences 15,000 m RC Drilling Program at the
Parnell-Vulture Trend at Nullagine
HIGHLIGHTS
• Novo continues its brownfields exploration programs focussing on oxide opportunities at its highly
prospective Nullagine gold project (“NGP”), with a 15,000 m reverse circulation (“RC”) drilling program
commenced at the Parnell-Vulture trend (“Parnell”) during the first week of November 2021.
• Parnell is located some 45 kms from the Golden Eagle processing facility (“ Golden Eagle Plant”) and
is accessed by a robust, reliable haul road and associated infrastructure.
• Parnell covers a strike length of approximately 2 kms and contains a series of vein-hosted targets with
historical drill intercepts including 9 m at 8.4 g/t gold from 7 m, 12 m at 14.6 g/t gold from 40 m and
7 m at 6.1 g/t gold from 40 m. These results are not necessarily representative of mineralization
throughout the district.
• First PhotonAssay gold results from the drill program via the Company’s priority arrangement with
Intertek1 are anticipated by early December 2021.
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 brownfields exploration programs
focussing on oxide opportunities at its highly prospective NGP. The Parnell and Vulture RC programs
are part of the NGP exploration program ramp-up, with forward programs currently being generated at
several priority basement targets (figure 1).
(Figure 1: Location Map for NGP showing Novo tenure and priority prospects.)
1 Refer to the Company’s news release dated May 18, 2021.
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The main mineralized trend at Parnell is mostly untested with modern RC drilling, with only few and sporadic
lines of shallow holes completed in the 1980s and 1990. In 1987, Chase Minerals NL (“ Chase”) drilled
25 shallow RC holes totalling 1,098 m, and in 1995, Welcome Stranger Mining Company NL (“Welcome
Stranger”) drilled a further 11 RC holes for 420 m (figure 2). Targeting directly in and around small historical
workings, these operators returned grades including:
• 12 m at 14.6 g/t gold from 40 m
• 9 m at 8.4 g/t gold from 7 m
• 7 m at 6.1 g/t gold from 40 m
These results are not necessarily representative of mineralization throughout the district. This historical data
was disclosed in annual exploration reports (“Reports”) filed by Chase and Welcome Stranger with the
Western Australian Department of Mines, Industry Regulation and Safety’s (“DMIRS”). The technical
information contained herein has been extracted from these Reports. Reference should be made to the
Reports which are available on DMIRS’ website
https://geodocs.dmirs.wa.gov.au/Web/documentlist/10/Report_Ref/A24647
https://geodocs.dmirs.wa.gov.au/Web/documentlist/10/Report_Ref/A46900
(Figure 2: Historical drillhole locations and results from Parnell and Vulture prospect soil sampling program.)
Novo conducted detailed mapping and gridded soil sampling to determine mineralization potential at
the Parnell and Vulture prospects but has not conducted sufficient work to validate all historic data. A series
of robust, coherent gold anomalies returned from soil sampling2 confirmed targets highlighted during the
June
2 Refer to the Company’s news release dated September 8, 2021.
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mapping program (figure 2), peaking at 7.8 g/t Au. Significant rock chip samples (up to 14.6 g/t Au) were also
returned from both Parnell and Vulture, again highlighting the presence of high-grade gold targets, and
further confirming the prospectivity of this area.
Parnell comprises high grade veins in a 1 to 5 m wide shear zone trending approximately east – west.
The south dipping zone of shearing is intruded by two porphyry dykes with the best zone of quartz veining in
the footwall of the main 6 m wide porphyry dyke. Gold mineralization dips south at steep to moderate
angles. Sandstone and interbedded siltstone-sandstone sequences adjacent to the main shear are extremely
bleached in the weathering profile, indicating likely sericite alteration of the original rock. Alteration is up to
50 m wide.
Drill targets focus on the main mineralized shear zone, as well as vein swarms to the north and south of
the main shear zone.
(Figure 3: RC drilling at Parnell (western sector).)
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Analytic Methodology
For the upcoming drilling program, samples will be collected from the rig using a cone splitter, and
submitted to Intertek Laboratory in Perth, Australia. Samples will be crushed to -2mm and submitted to
PhotonAssay for gold analysis.
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 other than the technical information extracted
from the Reports. 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 13,250 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
Forward-looking information
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Some statements in this news release contain forward-looking information (within the meaning of Canadian
securities legislation) including, without limitation, that results from the current drill program described in
this news release are anticipated by early December 2021. 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, the actual time required by Intertek Laboratory to process samples, customary risks of the
resource industry and the risk factors identified in Novo’s management’s discussion and analysis for the
six-month period ended June 30, 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 or 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.