Dr. Quinton Hennigh reports
NOVO ANNOUNCES FURTHER SHALLOW DRILL RESULTS INCLUDING 1 M OF 32.31 GPT GOLD
Novo Resources Corp. has released new assay results from shallow oxide drill holes at its Beatons Creek gold project near Nullagine, Western Australia. Intercepts include three metres at 3.40 grams per tonne gold in hole BCRC14-283, one m at 27.79 gpt Au in hole BCRC14-284, two m at 6.92 gpt Au including one m at 12.76 in hole BCRC14-285, three m at 8.19 gpt Au in hole BCRC14-306, one m at 32.31 gpt Au and two m at 3.60 gpt Au in hole BCRC14-307, five m at 3.44 gpt Au including two m at 7.69 gpt Au in hole BCRC14-318, and four m at 3.05 gpt Au including one m at 9.30 gpt Au in hole BCRC14-320 (please see reverse circulation drill results table, attached). As is the case for results released previously, most of the aforementioned gold intercepts occur at shallow depth in thoroughly oxidized gold-bearing conglomerate horizons (reefs) that are amenable to opencast mining.
"We are very pleased to continue seeing high grades in our drill results," commented Dr. Quinton Hennigh, president and chief executive officer of Novo Resources. "Now that all of the initial drill results have returned, we expect results from our trench sampling to follow shortly. Results from these 327 RC drill holes combined with several hundred trench results will allow us to accurately model reefs for our updated resource calculation expected around midyear. This updated resource is expected to form the basis to build an economic case for a low-cost, oxide, gravity-recoverable gold mining operation at Beatons Creek."
Novo drilled approximately 9,000 metres in 327 reverse circulation drill holes in late 2014 as part of a program to define a shallow, oxide resource. With this news release, the company has now released initial results for all 327 drill holes (please refer to the company's news releases dated Feb. 9, Feb. 26 and March 10, 2015, for further commentary about results). New cross-sections will soon be constructed using the complete drill data set and posted on the company's website.
Analyses released to date were mostly conducted on a one-kilogram split of raw RC drill cuttings using the LeachWell technique, an accelerated CN leach (six-hour leach time). These results are considered preliminary. Samples containing appreciable gold will soon be subjected to a more rigorous analytic protocol including analysis utilizing a three-kilogram split and the LeachWell technique (six-hour leach time). Many drill samples will also undergo analysis by screen metallic fire assay utilizing a three-kilogram split. Conducting these latter two analyses on large, three-kilogram splits is critical to adequately quantify gold content in the highly nuggety mineralized material from Beatons Creek. Genalysis Laboratories is currently prepping many of the samples with appreciable gold following this more rigorous protocol. Results from the three-kilogram LeachWell and three-kilogram screen metallic fire assay are expected back over the coming weeks.
In a news release issued on March 26, 2015, Novo announced it was acquiring a 100-per-cent interest in Beatons Creek from its joint venture partner, Millennium Minerals Ltd. Closing of this purchase was announced in a news release dated April 2, 2015. Given this pivotal event, the company is now looking at ways of fast-tracking Beatons Creek toward production. Once plans have been settled, they will be announced to the market.
Recent metallurgical work indicates mineralized reef material is potentially amenable to simple, inexpensive gravity processing (please refer to the company's news release dated Dec. 10, 2014). Novo is currently focused on developing a resource comprising such reefs that can be quickly advanced to feasibility and development (please refer to multiple news releases from the latter half of 2014).
Quality control and quality assurance
Reverse circulation drilling discussed in this news release was conducted under the supervision of Dr. Hennigh, Novo's chief executive officer, president and director. Drill samples were submitted to Genalysis Laboratories, Perth, Western Australia, for analysis. Sample weights range from approximately 15 to 20 kg. A one-kilogram split of raw drill cuttings was taken from each sample interval and subjected to the LeachWell technique, an accelerated CN leach (six-hour leach time). Most of the analyses reported in the table accompanying this news release were analyzed by this method; however, a few samples from holes BCRC14-013, BCRC14-027 and BCRC14-028 were analyzed utilizing a three-kilogram split subjected to the LeachWell technique (24-hour leach time). One sample from hole BCRC14-013 was also analyzed by screen metallic assay on a three-kilogram split. Due to the nuggety nature of gold mineralization at Beatons Creek, all gold-bearing samples from this drill program will ultimately be analyzed utilizing a three-kilogram split subjected to the LeachWell technique, and many samples will be subjected to screen fire assay utilizing a three-kilogram split. Results from the latter two types of analysis are expected to demonstrate acceptable analytic variability and thus will be used for resource modelling.
Dr. Hennigh, the company's chief executive officer, president and director, and a qualified person as defined by National Instrument 43-101, has approved the technical contents of this news release.
REVERSE CIRCULATION DRILL RESULTS -- BEATONS CREEK OXIDE RESOURCE DRILLING
One kg Three kg Three kg
Hole From (m) To (m) Length (m) LeachWell (gpt) LeachWell (gpt) screen metallic assay (gpt)
BCRC14-001 37 38 1 0.37
BCRC14-002 No reef encountered
BCRC14-003 No reef encountered
BCRC14-004 23 24 1 0.79
BCRC14-005 No reef encountered
BCRC14-006 No reef encountered
BCRC14-007 No reef encountered
BCRC14-008 No reef encountered
BCRC14-009 15 16 1 1.17
BCRC14-010 No reef encountered
BCRC14-011 12 13 1 0.36
BCRC14-012 15 16 1 0.59
BCRC14-013 36 37 1 1.00 0.91
BCRC14-014 No reef encountered
BCRC14-015 22 23 1 0.27
BCRC14-015A 22 24 2 0.77
BCRC14-016 43 45 2 0.41
BCRC14-017 39 42 3 0.41
BCRC14-018 No reef encountered
BCRC14-019 26 27 1 0.42
BCRC14-020 31 33 2 1.68
BCRC14-021 30 32 2 1.00
BCRC14-022 40 41 1 0.62
BCRC14-023 32 33 1 2.11
BCRC14-024 36 37 1 0.36
BCRC14-025 51 52 1 1.55
BCRC14-026 No reef encountered
BCRC14-027 20 21 1 2.57
BCRC14-028 24 25 1 2.40
BCRC14-029 No reef encountered
BCRC14-030 25 27 2 0.38
BCRC14-030A 25 27 2 0.65
BCRC14-031 28 31 3 1.42
BCRC14-032 26 27 1 1.38
BCRC14-033 30 31 1 1.83
BCRC14-034 27 29 2 0.30
BCRC14-035 10 11 1 1.03
BCRC14-036 9 11 2 1.00
BCRC14-037 11 12 1 1.25
BCRC14-038 1 3 2 1.76
BCRC14-039 1 2 1 1.90
BCRC14-040 3 4 1 0.21
BCRC14-041 19 20 1 0.86
BCRC14-042 No reef encountered
BCRC14-043 10 11 1 1.12
BCRC14-044 22 23 1 1.17
BCRC14-045 3 4 1 1.16
BCRC14-045A 13 14 1 0.86
BCRC14-046 0 1 1 0.94
BCRC14-047 No reef encountered
BCRC14-048 12 13 1 0.40
BCRC14-049 7 9 2 0.70
BCRC14-050 1 4 3 0.64
BCRC14-051 0 1 1 1.42
BCRC14-052 0 1 1 0.63
8 9 1 0.35
BCRC14-053 No reef encountered
BCRC14-054 No reef encountered
BCRC14-055 No reef encountered
BCRC14-056 9 10 1 0.43
BCRC14-057 21 22 1 0.51
BCRC14-058 15 16 1 0.59
BCRC14-059 8 9 1 0.67
BCRC14-060 0 2 2 0.62
BCRC14-060A 0 3 3 0.33
BCRC14-061 No reef encountered
BCRC14-062 11 12 1 0.37
BCRC14-063 0 2 2 0.58
BCRC14-064 1 2 1 1.54
BCRC14-065 6 7 1 1.71
BCRC14-066 No reef encountered
BCRC14-067 3 4 1 0.28
BCRC14-068 16 18 2 0.30
BCRC14-069 0 1 1 0.94
BCRC14-070 9 11 2 0.32
BCRC14-071 2 3 1 0.35
BCRC14-072 7 9 2 0.42
BCRC14-073 13 14 1 1.69
BCRC14-074 12 13 1 0.66
BCRC14-075 1 2 1 0.67
5 6 1 1.13
12 13 1 1.07
BCRC14-075A 2 3 1 2.58
6 7 1 3.05
11 13 2 1.57
14 15 1 3.04
BCRC14-076 5 6 1 3.71
7 9 2 2.04
BCRC14-077 No reef encountered
BCRC14-078 9 10 1 1.01
BCRC14-079 10 12 2 0.48
BCRC14-080 5 6 1 9.09
BCRC14-081 15 17 2 0.70
BCRC14-082 9 11 2 1.01
BCRC14-083 1 2 1 3.36
16 18 2 1.12
BCRC14-084 0 1 1 0.76
15 16 1 0.92
BCRC14-085 8 10 2 1.90
BCRC14-086 10 12 2 1.22
BCRC14-087 12 13 1 2.19
BCRC14-088 14 15 1 0.35
BCRC14-089 No reef encountered
BCRC14-090 1 2 1 0.57
3 4 1 0.58
BCRC14-090A 3 4 1 0.41
9 10 1 0.47
BCRC14-091 10 11 1 0.77
BCRC14-092 4 6 2 0.27
BCRC14-093 10 12 2 0.35
BCRC14-094 No reef encountered
BCRC14-095 No reef encountered
BCRC14-096 No reef encountered
BCRC14-097 0 3 3 2.28
8 10 2 1.20
BCRC14-098 11 17 6 8.77
Including 14 17 3 16.70
BCRC14-099 0 1 1 1.46
BCRC14-100 11 13 2 0.98
BCRC14-101 4 6 2 1.24
BCRC14-102 6 7 1 0.60
BCRC14-103 3 5 2 0.67
BCRC14-104 2 3 1 0.59
BCRC14-105 No reef encountered
BCRC14-105A No reef encountered
BCRC14-106 8 10 2 0.44
BCRC14-107 0 2 2 0.29
BCRC14-108 No reef encountered
BCRC14-109 10 11 1 0.38
BCRC14-110 5 6 1 0.34
7 8 1 0.36
BCRC14-111 2 3 1 1.79
BCRC14-112 11 12 1 0.69
17 18 1 0.92
BCRC14-113 23 24 1 0.56
BCRC14-114 25 26 1 1.76
BCRC14-115 24 25 1 0.92
BCRC14-116 17 18 1 1.33
BCRC14-117 9 10 1 11.32
BCRC14-118 8 9 1 0.63
15 16 1 0.73
BCRC14-119 0 1 1 0.66
8 9 1 1.00
BCRC14-120 0 1 1 0.75
BCRC14-120A 2 3 1 0.63
BCRC14-121 0 1 1 0.82
BCRC14-122 2 3 1 0.55
7 8 1 0.72
BCRC14-123 21 22 1 0.55
BCRC14-124 7 8 1 0.52
9 11 2 0.48
BCRC14-125 6 9 3 2.79
22 23 1 1.31
BCRC14-126 2 6 4 2.27
19 21 2 1.29
BCRC14-127 3 4 1 0.57
14 15 1 1.03
BCRC14-128 2 3 1 1.23
4 5 1 0.82
BCRC14-129 No reef encountered
BCRC14-130 0 1 1 1.18
9 10 1 1.29
13 14 1 0.85
16 18 2 1.11
BCRC14-131 0 1 1 0.61
5 6 1 0.66
15 16 1 0.61
BCRC14-132 7 9 2 1.10
BCRC14-133 5 6 1 0.33
7 8 1 0.35
BCRC14-134 1 2 1 0.27
BCRC14-135 8 10 2 0.35
22 23 1 0.62
BCRC14-135A 9 12 3 0.52
BCRC14-136 5 7 2 0.78
21 22 1 0.61
BCRC14-137 5 6 1 0.29
20 21 1 0.49
BCRC14-138 0 1 1 0.55
11 12 1 0.44
BCRC14-139 4 6 2 3.16
BCRC14-140 15 16 1 1.51
19 20 1 1.53
BCRC14-141 0 1 1 1.10
BCRC14-142 14 15 1 1.95
BCRC14-143 7 9 2 2.45
BCRC14-144 4 5 1 1.80
22 23 1 4.57
BCRC14-145 7 9 2 8.12
BCRC14-146 3 4 1 0.76
12 14 2 0.80
BCRC14-147 2 4 2 0.90
14 15 1 0.58
BCRC14-148 2 5 3 2.59
17 18 1 1.03
BCRC14-149 3 5 2 0.36
8 9 1 0.46
13 15 2 0.48
BCRC14-150 3 4 1 0.45
13 14 1 0.39
BCRC14-150A 3 4 1 0.29
7 9 2 0.34
13 14 1 0.39
BCRC14-151 No reef encountered
BCRC14-152 No reef encountered
BCRC14-153 7 8 1 1.79
20 21 1 1.30
BCRC14-154 2 3 1 0.69
18 19 1 1.50
BCRC14-155 1 2 1 0.78
14 15 1 1.04
BCRC14-156 2 5 3 1.35
11 13 2 0.84
BCRC14-157 4 5 1 0.67
6 7 1 0.87
13 14 1 1.76
15 17 2 1.96
BCRC14-158 0 2 2 0.76
4 5 1 6.74
10 12 2 0.99
BCRC14-159 1 2 1 0.45
BCRC14-160 5 6 1 1.83
15 16 1 2.05
BCRC14-161 8 9 1 3.12
23 24 1 2.73
26 27 1 1.19
BCRC14-162 4 5 1 0.71
16 18 2 1.21
BCRC14-163 1 2 1 4.59
7 8 1 0.58
14 16 2 1.00
18 19 1 3.49
BCRC14-164 1 2 1 0.78
4 5 1 0.72
6 8 2 0.91
10 11 1 0.84
BCRC14-165 3 5 2 0.65
20 21 1 1.25
BCRC14-165A 1 3 2 0.77
16 18 2 1.48
BCRC14-166 0 1 1 0.56
3 4 1 0.51
BCRC14-167 2 3 1 1.30
7 10 3 1.17
BCRC14-168 4 7 3 0.89
BCRC14-169 0 1 1 0.74
4 6 2 1.25
10 11 1 0.81
BCRC14-170 6 7 1 2.89
18 19 1 1.95
BCRC14-171 0 4 4 1.30
5 6 1 0.82
10 12 2 1.07
BCRC14-172 2 3 1 0.69
4 6 2 0.75
BCRC14-173 3 5 2 1.57
11 12 1 5.96
17 18 1 2.02
BCRC14-174 6 7 1 1.82
11 13 2 1.24
BCRC14-175 4 5 1 0.45
BCRC14-176 14 15 1 0.40
BCRC14-177 8 9 1 0.71
BCRC14-178 1 2 1 1.16
5 6 1 1.22
11 13 2 2.89
14 15 1 2.78
BCRC14-179 9 11 2 1.97
12 14 2 1.27
BCRC14-180 0 1 1 0.50
4 5 1 0.50
6 8 2 1.19
9 11 2 0.68
12 13 1 0.72
BCRC14-180A 1 2 1 1.25
5 9 4 3.70
Including 7 8 1 10.47
10 11 1 1.25
12 13 1 0.84
14 15 1 0.93
BCRC14-181 0 1.5 1.5 0.76
12 13 1 2.27
17 18 1 0.74
BCRC14-182 2 4 2 0.67
8 10 2 1.74
11 14 3 1.08
BCRC14-183 7 8 1 0.53
BCRC14-184 2 4 2 0.82
5 7 2 0.69
8 9 1 0.55
BCRC14-184D 2 4 2 1.31
6 8 2 0.62
9 10 1 0.62
BCRC14-185 4 7 3 1.13
BCRC14-186 1 2 1 0.82
9 11 2 2.35
BCRC14-187 1 4 3 1.41
8 10 2 2.88
15 16 1 2.10
BCRC14-188 0 2 2 1.09
4 6 2 2.07
7 8 1 0.75
11 12 1 0.55
13 14 1 0.66
17 19 2 0.77
BCRC14-189 1 2 1 2.91
5 6 1 0.86
10 12 2 0.79
BCRC14-190 2 6 4 2.80
Including 2 3 1 8.58
15 16 1 1.02
BCRC14-191 0 1 1 0.57
4 5 1 0.53
10 11 1 0.57
13 14 1 1.00
BCRC14-192 3 5 2 1.29
BCRC14-193 9 10 1 2.35
BCRC14-194 6 7 1 0.66
BCRC14-195 No reef encountered
BCRC14-195A No reef encountered
BCRC14-196 No reef encountered
BCRC14-197 No reef encountered
BCRC14-198 No reef encountered
BCRC14-199 No reef encountered
BCRC14-200 No reef encountered
BCRC14-201
through -218 Not drilled
BCRC14-219 1 3 2 0.41
5 6 1 0.48
BCRC14-220 1 3 2 0.28
BCRC14-221 No reef encountered
BCRC14-222 18 19 1 0.95
BCRC14-223 8 9 1 0.69
BCRC14-224 2 3 1 0.28
BCRC14-225 No reef encountered
BCRC14-225A No reef encountered
BCRC14-226
through -231 Not drilled
BCRC14-232 0 1 1 0.25
17 18 1 0.39
31 32 1 1.32
BCRC14-233 11 13 2 0.35
15 18 3 0.52
BCRC14-234 9 11 2 0.32
13 14 1 0.48
BCRC14-235 3 4 1 0.32
21 23 2 0.54
BCRC14-236 5 6 1 0.39
13 14 1 0.60
BCRC14-237 No reef encountered
BCRC14-238 18 19 1 0.33
BCRC14-239 2 3 1 1.49
9 10 1 1.29
13 14 1 1.38
BCRC14-240 No reef encountered
BCRC14-240A No reef encountered
BCRC14-241 21 22 1 0.87
25 27 2 1.23
BCRC14-242 7 8 1 0.98
26 27 1 3.00
28 29 1 1.01
BCRC14-243 14 15 1 0.49
17 18 1 0.65
BCRC14-244 0 1 1 0.39
26 28 2 0.55
BCRC14-245 19 20 1 0.51
BCRC14-246 21 22 1 0.65
BCRC14-247 9 10 1 0.36
BCRC14-248 18 20 2 0.83
BCRC14-249 No reef encountered
BCRC14-250 No reef encountered
BCRC14-251 No reef encountered
BCRC14-252 No reef encountered
BCRC14-253 No reef encountered
BCRC14-254 No reef encountered
BCRC14-255 No reef encountered
BCRC14-255A 8 9 1 0.99
BCRC14-256 No reef encountered
BCRC14-257 No reef encountered
BCRC14-258 No reef encountered
BCRC14-259 5 6 1 0.61
BCRC14-260 No reef encountered
BCRC14-261 No reef encountered
BCRC14-262 1 3 2 0.91
BCRC14-263 3 6 3 0.79
BCRC14-264 No reef encountered
BCRC14-265 32 35 3 2.37
BCRC14-266 33 34 1 2.84
48 55 7 1.92
Including 48 51 3 3.54
BCRC14-267 No reef encountered
BCRC14-268 No reef encountered
BCRC14-269 2 3 1 1.32
BCRC14-270 0 1 1 0.48
BCRC14-270A 0 1 1 0.45
BCRC14-271 0 1 1 0.39
BCRC14-272 20 21 1 5.74
BCRC14-273 8 9 1 0.53
BCRC14-274 2 3 1 1.59
10 11 1 0.64
BCRC14-275 3 11 8 0.32
BCRC14-276 10 11 1 0.60
BCRC14-277 0 1 1 0.77
BCRC14-278 12 13 1 0.39
BCRC14-279 8 9 1 0.32
BCRC14-280 13 14 1 0.52
BCRC14-281 3 4 1 0.92
9 10 1 0.61
BCRC14-282 5 7 2 2.35
BCRC14-283 0 1 1 0.96
5 6 1 0.42
15 17 2 1.04
23 26 3 3.40
Including 23 24 1 6.56
27 28 1 1.47
BCRC14-284 0 1 1 0.69
5 6 1 1.35
23 24 1 27.79
BCRC14-285 2 3 1 0.47
7 9 2 0.35
25 27 2 6.92
Including 25 26 1 12.76
33 37 4 1.05
BCRC14-285A 7 8 1 0.50
25 26 1 1.82
34 36 2 2.29
38 39 1 2.86
BCRC14-286 9 11 2 1.08
27 28 1 4.91
35 37 2 4.05
BCRC14-287 3 6 3 1.05
21 22 1 2.53
28 30 2 1.85
BCRC14-288 6 7 1 1.39
BCRC14-289 8 11 3 0.82
15 16 1 1.81
BCRC14-290 23 24 1 2.72
BCRC14-291 8 9 1 1.70
10 17 7 3.55
Including 10 11 1 20.41
38 39 1 1.74
BCRC14-292 8 11 3 0.88
20 21 1 1.01
BCRC14-293 16 17 1 40.07
19 23 4 0.76
BCRC14-294 6 7 1 0.51
13 14 1 0.61
25 28 3 1.66
BCRC14-295 2 3 1 1.38
6 8 2 0.59
20 22 2 2.75
BCRC14-296 8 11 3 3.51
16 19 3 0.73
BCRC14-297 No reef encountered
BCRC14-298 10 12 2 0.30
16 17 1 0.33
BCRC14-299 No reef encountered
BCRC14-300 No reef encountered
BCRC14-300A No reef encountered
BCRC14-301 0 2 2 1.49
BCRC14-302 No reef encountered
BCRC14-303 4 5 1 0.37
BCRC14-304 0 3 3 1.38
BCRC14-305 0 1 1 0.88
10 11 1 4.67
BCRC14-306 2 5 3 8.19
14 15 1 2.10
BCRC14-307 5 6 1 32.31
17 18 1 1.67
22 24 2 3.60
BCRC14-308 18 20 2 3.23
BCRC14-309 1 2 1 0.51
7 8 1 3.09
16 18 2 3.06
BCRC14-310 5 6 1 1.37
8 10 2 3.49
BCRC14-311 13 14 1 4.75
20 21 1 0.69
22 23 1 2.72
BCRC14-312 0 1 1 1.23
2 3 1 0.83
BCRC14-313 1 3 2 0.63
24 25 1 0.95
BCRC14-314 1 2 1 0.59
4 6 2 1.61
7 10 3 0.75
BCRC14-315 5 6 1 0.58
8 9 1 1.24
15 16 1 0.62
BCRC14-315A 6 7 1 0.31
8 9 1 0.64
14 16 2 1.59
BCRC14-316 10 11 1 0.86
12 13 1 2.01
BCRC14-317 0 2 2 0.91
3 7 4 1.65
8 10 2 0.48
BCRC14-318 0 5 5 3.44
Including 2 4 2 7.69
BCRC14-319 3 4 1 0.84
6 7 1 0.52
8 9 1 0.49
10 11 1 0.63
BCRC14-320 13 17 4 3.05
Including 16 17 1 9.30
BCRC14-321 13 15 2 0.95
22 23 1 1.40
BCRC14-322 23 25 2 3.98
28 30 2 0.89
BCRC14-323 1 2 1 0.57
13 14 1 6.61
BCRC14-324 5 6 1 0.56
BCRC14-325 9 10 1 0.39
BCRC14-326 6 8 2 0.30
34 35 1 4.60
BCRC14-327 No reef encountered
BCRC14-228 Not drilled
BCRC14-329 11 12 1 0.83
43 44 1 4.68
BCRC14-330 21 24 3 0.67
BCRC14-231
through -334 Not drilled
BCRC14-335 No reef encountered
BCRC14-336 No reef encountered
BCRC14-337 11 13 2 0.44
BCRC14-338 13 15 2 0.71
BCRC14-339 0 2 2 0.43
All samples analyzed utilizing one-kilogram LeachWell will be reanalyzed utilizing three-kilogram LeachWell
and three-kilogram metallic screen assay.
We seek Safe Harbor.
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