Geophysical Surveys to Commence on Battery Metals Targets in the Karratha District of Western Australia
06 Mai 2022 - 2:57PM
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 Western Australia. Geophysical exploration is designed to
follow-up on multiple airborne electromagnetic
(“
VTEM”) anomalies (previously defined in 2007 by
Legend Mining Limited (“
Legend”))1 which have not
been 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 Au-Cu-Co targets at various prospects in the
Andover area on Novo’s Purdy’s Reward North tenement E47/1745.
Figure 1: Prospect location and proposed areas
for ground geophysical surveys is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/ce5a621e-c3cb-4653-b1c3-3a86be923723
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 diamond 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.
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 leo@novoresources.com.
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 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.
____________________________________1 Refer to
the Company’s news release dated November 30, 2021.
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