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Novo Resources Corp
Symbol C : NVO
Shares Issued 165,896,248
Close 2019-05-13 C$ 2.13
Recent Sedar Documents

Novo Resources receives mining OK for Beatons Creek

2019-05-14 10:08 ET - News Release

Dr. Quinton Hennigh reports

NOVO ANNOUNCES THE GRANT OF MINING APPROVALS AT ITS BEATONS CREEK CONGLOMERATE GOLD PROJECT

Novo Resources Corp. has been granted environmental approvals for mining the Beatons Creek conglomerate gold project located in the eastern Pilbara region of Western Australia. Additionally, the final mining lease required to complete the project, M46/532, has now been granted. All necessary tenure and native title agreements are now in place.

Highlights:

  • Granting of the mining lease for tenement M46/532 (known as the Edwards lease) is important to Novo as it contains some of the highest-grade material and covers some of the planned waste dump footprint. It also means that just under 99 per cent of all ounces recently reported in the Beatons Creek resource upgrade (see the company's news release dated April 1, 2019, are now contained within granted mining leases.
  • All necessary native title agreements and tenure are now in place for the entire project resource estimate (oxide and fresh mineralization).
  • Novo's previously announced options study (please see the company's news release dated April 17, 2019) continues to consider a processing route for the project, now underpinned by the certainty of a significant source of oxide mill feed.
  • These approvals apply to the project's oxide resource. All necessary environmental test work for the project oxide tailings product (carried out to the standards required by the relevant environmental regulatory agencies) has been completed, confirming an environmentally benign tailings product.
  • Work will now commence for an approval submission for the project's fresh resource.

The granting of mining leases and mining approvals is a rigorous assessment process undertaken by the Western Australian Departments of Mines (Industry Regulation and Safety and Water and Environmental Regulation) and require comprehensive technical input, including:

  • Environmental studies -- ecological, hydrogeological and social environmental impacts, mineralization and waste chemical composition;
  • Mining plans -- mine closure planning, mining techniques, waste dump design and location, safety management plans;
  • Native title -- demonstration that a mining agreement is in place with all native title parties that considers royalties, employment opportunities, community engagement and cultural awareness.

"The granting of mining tenure and approvals are a testament to the hard work and expertise within the Novo technical team, particularly given the challenges of seeking approvals for operating proximal to a residential area and within a P1 water reserve," commented Rob Humphryson, chief executive officer and a director of the company. "These are very welcome developments and complementary to the east Pilbara options study, which is now well under way. The centrepiece of this study is an assessment of the productive mining capacity of Beatons Creek based upon our improved understanding of resource block dimensions, which will in turn inform processing plant sizing and costing."

Karratha gold project mineralization report

The company's mineralization report previously announced on Jan. 22, 2019 (see the company's news release), is complete and undergoing final internal reviews. Details will be made available to the market upon completion of review.

Dr. Quinton Hennigh, PGeo, is the qualified person pursuant to National Instrument 43-101 responsible for and having reviewed and approved the technical information contained in this news release. Dr. Hennigh is president, chairman and a director of Novo Resources.

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 12,000 square kilometres with varying ownership interests.

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