Novo Egina Gold Project Update
Novo Egina Gold Project Update
VANCOUVER, British Columbia, May 21, 2019 -- Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO; OTCQX:
NSRPF) is pleased to provide an update of activities at its Egina Gold Project, Western Australia.
Whilst exploration activities are planned across the breadth of Novo’s +12,000 sq km of Pilbara tenement holdings, Novo’s
project development priorities this field season are focused around the historic gold mining centres of Egina and Station Peak.
Following a brief delay in returning to site owing to the impacts of Tropical Cyclone Veronica, works are now on track to meet
original schedules. Current activities can be characterized as follows:
• The Station Peak camp, headquarters for the Egina Gold Project, has been fully upgraded to a 16-bed camp,
sufficiently large to house necessary staff for upcoming bulk sampling and processing work ( Figure 1). Given the project
is remote, nearly 60 km from the Coastal Highway, Novo determined this upgrade is critical to safe and sustainable
operations at Egina.
• Edwards Construction of Port Hedland has been awarded a contract for all earthmoving at the project. Equipment has
been delivered to site ( Figure 2) where it is currently being used to reconfigure the processing area for receipt and
handling of bulk samples and tailings.
• The Company’s IGR3000 gravity gold plant is undergoing upgrades to streamline processing of bulk samples as well as
ensure maximum recovery of gold ( Figure 3). A conveyor with a digital weightometer is being installed for accurate
measurement of sample mass. This work is expected to be completed over the next month.
• A series of five water bores are currently being drilled near the Station Peak camp to ensure sufficient water is available
for bulk sample processing.
• Ground penetrating radar (“GPR”) (Figure 4) and magnetic surveys ( Figure 5) were recently completed over the initial
target area, an approximately one square km area where the previous operator excavated numerous trenches. GPR
data is currently being processed, but initial indications suggest the targeted gold-bearing gravel horizon is laterally
consistent and shallow as predicted. More refined processing of data may identify shallow depressions, possible trap
sites for alluvial gold. Detailed magnetic data will help identify areas where heavy magnetitic sands have accumulated,
another potential proxy for alluvial gold concentrations. Accurate modeling of GPR and magnetic data is considered
critical to helping lay out the network of sample sites across the target area. Bulk sample excavation will commence
once this model has been completed and sample sites chosen over the coming weeks.
• Systematic mapping and metal detecting are being carried out across the greater Egina mining lease in order to better
understand the extent of gold-bearing lag gravels as well as potential gold sources in underlying bedrock. Numerous
gold nuggets have been discovered and recorded. While most are rounded ( Figure 6), an indication of being sourced
from weathering of local conglomerates, a few are hackly and attached to quartz ( Figure 7), a sign they originate from
veins in the underlying Mallina Formation basement rocks. This is intriguing, because it suggests there may be local
hardrock targets at Egina.
“I am pleased with progress at our Egina Gold Project,” commented Dr. Quinton Hennigh, President, Director, and Chairman of
Novo. “We are confident we will be working at Egina for a long time and therefore decided to invest in a new, large camp
suitable for sustainable operations at this remote location. Earth moving equipment has been delivered, and preparations for
bulk sample processing including upgrades to Novo’s IGR3000 gravity gold plant are well underway. Data from our recently
completed GPR and magnetic surveys appear highly useful for laying out our bulk sample sites. We expect to be excavating
bulk samples commencing in late-June with processing commencing by early July once plant upgrades are complete. In the
meantime, our scout mapping and metal detecting campaign has added to our understanding of the extent of gold-bearing lag
gravels across the mining lease as well as suggested we may have local bedrock gold sources. This is going to be a very
exciting year for the Company as we continue to understand the prospectivity of this unique gold system.”
Dr. Quinton Hennigh, P. Geo., the Company’s, President, Chairman, and a Director, and a qualified person as defined by
National Instrument 43-101, has approved the geological content of this news release.
About Novo Resources Corp.
Novo’s focus is to explore and develop gold projects in the Pilbara region of Western Australia, and Novo has built up a
significant land package covering approximately 13,000 sq km with varying ownership interests. 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.
“Quinton Hennigh”
Quinton Hennigh
President and Chairman
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 planned exploration activities and the expected timing of the receipt
of results, as well as the expected timing of commencement and completion of exploration activities on Novo’s Egina property.
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 mineral resource industry as well as the performance of services by third parties.
PDFs accompanying this announcement are available at:
http://ml.globenewswire.com/Resource/Download/05092be1-cf0d-4728-9e53-d8606c7d4c4f
http://ml.globenewswire.com/Resource/Download/d0fa48a6-3ebf-4035-a2e6-459abcb71bba
http://ml.globenewswire.com/Resource/Download/b2c8514d-dccb-44fc-874a-8834a67e6164
http://ml.globenewswire.com/Resource/Download/3ede6d83-f9e6-4044-95b2-13fdb1e9f265
http://ml.globenewswire.com/Resource/Download/1fb18029-7d65-4594-83b0-b62d9403a409
http://ml.globenewswire.com/Resource/Download/59369591-f290-4ac6-bf96-515cd81bd33a
http://ml.globenewswire.com/Resource/Download/40e4710a-7c01-4784-98d9-872ead59e520