First Comet Well Bulk Sample Yields Numerous Gold Nuggets

VANCOUVER, British Columbia, April 25, 2018 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX-V:NVO) (OTCQX:NSRPF) is pleased to provide an update of processing of bulk samples from Comet Well, part of Novo’s greater Karratha gold project located in the Pilbara region of Western Australia.

During bulk sample processing, rock is first crushed and screened, and the minus 6.0 mm plus 2.5 mm fraction is fed through a conveyor fitted with a metal detector so that coarse gold nuggets can be isolated and extracted for study (see Figure 1). The remaining material is set aside for further gold analysis. Eighty nuggets, some partially embedded in rock matrix (see Figures 2 and 3), were recovered from bulk sample KX157 (7,143 kg), the first sample to be processed through the test plant at SGS Minerals, Perth (please refer to Novo’s news release dated February 6, 2018 for further details).

Bulk sample KX157 was collected from a trench exposing boulder conglomerate at the Powerline prospect (see Figures 4 and 5 and link to YouTube video showing Comet Well project here: https://www.youtube.com/watch?v=kv5e3j_KwSo). Importantly, this sample originates from a position approximately 0.3-0.8 m above the basal contact of the conglomerate package suggesting a thicker section of conglomerate is mineralized at Comet Well when compared to Purdy’s Reward where most gold is concentrated within a half meter of the basal surface. Metal detector strikes are recorded over approximately 4 m of conglomerate thickness at the Powerline prospect.

Recovered nuggets from bulk sample KX157 range in size from 3 mm to 2 cm. In spite of two stages of crushing, most appear intact and relatively unscathed retaining their characteristic flattened melon seed appearance, a clear indication of a water-worn alluvial origin. Fine-grained “halo” gold particles are observed around nuggets partially encased in rock matrix similar to that observed around nuggets recovered from Purdy’s Reward. Nuggets ultimately undergo further treatment to remove rock matrix so that an accurate mass of gold can be determined and important information about nugget size can be recorded for statistical purposes.

Following nugget extraction, bulk sample material is subjected to further processing including finer grinding and gravity gold separation. Samples of concentrates and tailings are collected from various points as material passes through the test plant. Once all subsamples have been analyzed, the Au grade of the bulk sample can be calculated.

Processing of bulk samples has been slower than expected due to a number of factors including rock hardness, additional screening steps, and complexities around tail homogenization and sampling. Various modifications have been, and are being, made to the test plant to improve reliability and increase capacity to process the Comet Well conglomerate within a well devised QA/QC framework. Steady state processing is estimated to be achieved within 6 weeks. Grade results for the first few samples from the Powerline prospect are now expected to return by late May. Currently, there are 18 samples from Comet Well in the queue at the laboratory. 

“Treatment of bulk samples has required certain modifications to the test plant at SGS resulting in a modest delay in the return of grades from recently collected Comet Well samples,” commented Dr. Quinton Hennigh, President, Chairman and a director of Novo Resources Corp. “Nonetheless, we are very pleased to see numerous gold nuggets emerge from the first bulk sample to be processed, KX157. This result provides us confidence that our strategy of collecting +5 tonne samples is appropriate for this style of mineralization. In many respects, we are dealing with a gold deposit akin to diamondiferous kimberlite, rock that is routinely bulk sampled to yield sufficient diamonds for grade estimation. As done for diamonds, we are analyzing the size of gold nuggets to provide statistical data to better understand this deposit. We look forward to receiving further data including grade from this sample and several others from Comet Well by late May.”

Quality Control and Quality Assurance:

Novo staff, under the supervision of Dr. Quinton Hennigh, Novo’s President and Chairman, collected bulk samples discussed in this news release.  Bulk samples are being submitted to SGS Minerals in Perth, Australia where they are treated in a test plant detailed in Novo’s news release dated February 6, 2018. Samples are scrutineered by independent consultants from RSC Mining and Mineral Exploration, Perth, whilst each sample is collected and each sample is treated at the laboratory.

Dr. Quinton Hennigh, the Company’s, President and Chairman and a Qualified Person as defined by National Instrument 43-101, has approved the technical contents 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 12,000 sq km. 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
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 the expected timing of processing and the receipt of grade results. 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.

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