Novo Drills 143.5 GPT Gold at Tuscarora
VANCOUVER, BC / TheNewswire / September 13, 2016 - Novo Resources Corp. ("Novo" or the "Company") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce results from the first two reverse circulation ("RC") holes at its 100% controlled Tuscarora gold project intersected the targeted Navajo vein extension. Hole 16TSRC-002 encountered 74.18 gpt Au over 3.05 m including 143.50 gpt Au over 1.52 m, and hole 16TSRC-001 encountered 5.96 gpt Au over 3.05 m including 7.20 gpt Au over 1.52 m. True vein widths are estimated to be about half the interval lengths reported above.
| Significant Results from First Two RC Holes at Tuscarora | ||||||||
| Hole Number | From (ft) | To (ft) | Length (ft) | Au (opt) | From (m) | To (m) | Length (m) | Au (gpt) |
| 16TSRC-001 | 290 | 305 | 15 | 0.039 | 88.41 | 92.99 | 4.57 | 1.21 |
| 550 | 560 | 10 | 0.192 | 167.68 | 170.73 | 3.05 | 5.96 | |
| * | 555 | 560 | 5 | 0.232 | 169.21 | 170.73 | 1.52 | 7.20 |
| 16TSRC-002 | 500 | 515 | 15 | 0.029 | 152.44 | 157.01 | 4.57 | 0.90 |
| 520 | 530 | 10 | 2.385 | 158.54 | 161.59 | 3.05 | 74.18 | |
| including | 525 | 530 | 5 | 4.614 | 160.06 | 161.59 | 1.52 | 143.50 |
| 530 | 555 | 25 | 0.022 | 161.59 | 169.21 | 7.62 | 0.69 | |
| 600 | 610 | 10 | 0.035 | 182.93 | 185.98 | 3.05 | 1.09 | |
| 620 | 645 | 25 | 0.055 | 189.02 | 196.65 | 7.62 | 1.70 | |
| including | 625 | 630 | 5 | 0.145 | 190.55 | 192.07 | 1.52 | 4.51 |
| * Initial fire assay reported >10 gpt Au. Reported number is a repeat fire assay. | ||||||||
| Due to the presence of coarse gold, all significant samples to be re-run by bulk CN leach. Results will be reported when available. | ||||||||
Holes 16TSRC-001 and 16TSRC-002 were drilled from the same drill pad at different inclinations, -60 and -55 degrees, respectively, to better ascertain the dip of the north-northwest striking Navajo vein extension (please see figures 1 and 2 below). The vein appears to dip at about 70 degrees to the west in this location. Based upon data from historic drilling near this area, the mineralized vein is believed to extend upwards to the base of overburden at about 62 m below surface and remains open along strike and at depth. Results from additional holes drilled north and south of this location should provide further resolution about the strike and dip of the vein.
"We are pleased with the results from the first two holes at Tuscarora," commented Dr. Quinton Hennigh, President, CEO and a director of Novo Resources Corp. "Both holes intersected the Navajo vein extension as planned. Given the lack of survey data from historic drilling, this target has remained somewhat enigmatic. We hope our drilling will show continuity of the targeted high-grade vein and are looking forward to receiving results from the six remaining holes."
Novo recently completed a 4,775 foot (1,455 m) reverse circulation drill program at Tuscarora. Eight holes tested the Navajo vein extension, a one km long pediment-covered vein target situated along the south-southeast extension of the Navajo vein, the most prolific past-producing vein in the Tuscarora mining district. The Tuscarora district encompasses an extensive Eocene volcanic rock-hosted epithermal Au-Ag vein system.
In the 1990's, Newcrest Mining Ltd. and Franco-Nevada Corp. each previously explored this target reporting several high-grade drill intercepts. Down-hole surveys were not conducted on most historic drill holes. To better locate the positions of vein intercepts, Novo has surveyed all drill holes in its recently completed drill program. Results from Novo's six remaining holes are expected back over the next few weeks.
Drill samples were submitted to Inspectorate Laboratory in Reno, Nevada. All samples were analyzed by 30 g fire assay with an atomic absorption finish. Overlimit samples (>10 gpt Au) were re-analyzed by fire assay with a gravimetric finish. Due to the coarse nature of gold particles, significant gold-bearing intervals will subsequently be analyzed using bulk cyanide leach. Novo employed such analyses with good results at its Beaton Creek project in Australia.
Quinton Hennigh (Ph.D., P.Geo.) 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, CEO and a Director of Novo Resources Corp.
About Novo Resources Corp.
Novo's focus is to evaluate, acquire and explore gold properties. Indirect subsidiaries of Novo hold a 100% interest in the Beatons Creek gold project, a 70% interest in properties surrounding Beatons Creek and Marble Bar, a 100% interest in the Blue Spec gold-antimony project, and options covering approximately 400 square km over the Mosquito Creek Basin, all in the Pilbara region, Western Australia. Novo also controls a 100% interest in approximately 2 sq km covering much of the Tuscarora Au-Ag vein district, Nevada. 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.
"Quinton Hennigh"
Quinton Hennigh
CEO and President
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.
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Figure 1 - Drill Plan Map
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Figure 2 - North-Northwest Section
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