Novo Resources drills 8 m of 4.6 g/t Au at Genie
Mr. Michael Spreadborough reports
NEAR-MINE HIGH-GRADE MINERALIZATION CONFIRMED 3 KM FROM GOLDEN EAGLE PROCESSING PLANT
Novo Resources Corp. has provided an update on recent brownfield exploration drilling conducted at the Genie prospect. The maiden RC (reverse circulation) drilling program of 31 holes (for a total of 1,787 metres (m)) was completed at Genie in September, 2021. Significant intersections returned to date include, but are not limited to:
Eight m at 4.6 grams per tonne (g/t) gold (Au) from 26 m (21NU0093); 10 m at three g/t Au from 32 m (21NU0089); Three m at 8.9 g/t Au from five m (21NU0085);13 m at two g/t Au from 12 m (21NU0092);Eight m at 3.2 g/t Au from 37 m (21NU0094).
Genie is a near-mine oxide prospect that forms part of a broader over-1.25-kilometre-long previously untested lode gold target located within three km of the Golden Eagle plant.
"Novo has an exceptional exploration team capable of quickly identifying and testing impactful targets around the Nullagine gold project," commented Dr. Quinton Hennigh, non-executive co-chairman of Novo. "Quickly recognizing the excellent potential and new style of mineralization at Genie is a prime example of their strength. And Genie is just one of the first targets on our list. Many more targets are currently being tested, all of which could have near-term impact on delivering resources for the operation. We are thrilled with these early results and eagerly await a large volume of exploration drill results to come. With access to Chrysos PhotonAssay, we expect to deliver a steady stream of results to the market on an ongoing basis."
Details
This maiden drilling program across the western sector at Genie has provided numerous highly significant results and highlights the potential for the prospect to provide valuable oxide feed to the nearby Golden Eagle plant. Gold mineralization occurs across multiple, stacked, shallow to moderately southwest-dipping zones and remains open in all directions.
This program was designed to test the tenor of gold mineralization where mapping and rock chip sampling highlighted excellent potential for near-surface minable gold mineralization. Drilling was completed at 20-metre to 40-metre line spacing and 20-metre hole spacing along the drill traverses.
The attached table provides a list of significant intersections (reporting over one gram per metre) using parameters that include a cut-off of 0.5 g/t Au and no more than two-metre internal waste. Reported widths are indicative of true widths.
Considering the highly significant results from this program, further drilling is now a priority with follow-up holes designed to extend and further define the extent of mineralization. This second, more aggressive drill program is already in progress.
Genie is located toward the western margin of a prospective gold-mineralized corridor characterized by strong quartz veining within sheeted dolerite dikes and turbiditic sediments of the Mosquito Creek formation. This style of mineralization relating to an interpreted early phase of dolerite intrusion represents a new gold mineralization style in the region.
The local geology at Genie is characterized by a swarm of mineralized quartz-veined dolerite dikes defined over approximately 320 m strike, with individual dikes up to 80 m long and 10 m wide. The dolerite dikes trend northwest (locally orthogonal to the overall east-northeast-trending mineralized corridor) and dip shallowly to moderately to the southwest. One 50-metre-long historic working is present in the central drill area. Sand cover and quartz colluvium obscures the geology immediately west, south and north of the outcropping mineralization where the target extends under cover. RC drill samples were submitted to Intertek Testing Services Australia Pty. Ltd.'s lab for PhotonAssay (refer to the company's news release datedMay 18, 2021), providing rapid turnaround time for exploration assay results, with assays received within two weeks of sample submission.
Analytic methodology
RC samples from Genie were submitted to Intertek in Perth, Australia. Samples are crushed to minus two millimetres (mm) and RSD split into a single 500-gram jar for PhotonAssay. To test for gold variability and potential coarse gold effect, field duplicates and crushed duplicates were analyzed. Standards and blanks are inserted in the sample sequence to test for lab performance.
There were no limitations to the verification process and all relevant data were verified by a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) by reviewing analytical procedures undertaken by the various laboratories. Dr. Hennigh, PGeo, is the qualified person 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 Resources Corp.
Novo operates its flagship Beatons Creek gold project while exploring and developing its prospective land package covering approximately 13,250 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.