VANCOUVER, December 19, 2012 - Novo Resources Corp. ("Novo" or the "Company") (CNSX: NVO; OTCQX: NSRPF) is pleased to announce Leachwell analytic results from thirty new reverse circulation drill holes in its Phase Two program at its Beatons Creek Gold Project, Western Australia. Results include 4 meters at 10.09 grams per tonne (gpt) gold including 1 meter at 38.98 gpt gold in hole BCRC12-092 and 8 meters at 3.63 gpt gold including 1 meter at 27.19 gpt gold in hole BCRC12-111. The strong intercept from hole BCRC12-111 is particularly important because this hole is located along the far northwest perimeter of the targeted block and confirms that shallow, gold-bearing conglomerates (reefs) extend at least 500 meters out from the basin edge in this area.
"We are once again pleased to see positive drill results from Grants Hill," commented Dr. Quinton Hennigh, President and CEO of Novo. "Hole BCRC12-111 indicates good grades persist well out into the basin and are present at reasonably shallow depths. We will be anxious to follow up with further step-out drilling in this area in 2013. In the meantime, remaining results from Phase Two drilling are expected back by January 2013, at which time we can assess the potential for establishing an initial resource at Grants Hill."
Phase Two Drilling
One hundred and seven reverse circulation drill holes were completed as part of Phase Two drilling at Grants Hill to expand the area of gold-bearing reefs as well as infill areas drilled during Phase One (see table below; see attached updated drill plan map and cross section):
Highlights:
-Hole BCRC12-111, a step-out hole at Grants Hill, encountered 8 meters at 3.63 gpt gold including 1 meter at 27.19 gpt gold. This hole is situated along the furthest limit of drilling into the basin thus far and confirms that reasonably shallow, gold-bearing reefs extend well out into the basin.
-Hole BCRC-092, an infill hole drilled in the north central part of the target area, encountered 4 meters at 10.09 gpt gold including 1 meter at 38.98 gpt gold. These results confirm the presence of a higher grade zone in this area.
-Hole BCRC12-099, an infill hole drill situated about 100 meters west of BCRC12-092, also encountered a significant interval of higher grade mineralization, 16 meters at 1.30 gpt gold including 1 meter at 10.59 gpt gold.
-Analyses from twenty-four holes are pending and expected back over the following few weeks. Metallic screen assays will be conducted on select mineralized intervals once all of the Leachwell analyses have returned. Once all analyses are complete, the Company plans to evaluate whether a resource can be established at Grants Hill.
-Phase Two drilling at Beatons Creek was completed on December 1, 2012. Once the Company has reviewed all data from this program, planning for Phase Three drilling will begin. It is expected that Phase Three drilling will resume by approximately April 2013.
------------------------------------------------------------------------- |Summary of Leachwell Gold Analyses from Phase Two drilling at | |Beatons Creek (results in regular font are new; results in italics | |were previously announced in news releases dated October 11 and | |November 15, 2012). Weighted averaging has been used to | |calculate all reported intervals. | |-----------------------------------------------------------------------| |Hole |From (meters) |To |Length (meters) |Leachwell | | | |(meters) | |- Gold | | | | | |(grams per| | | | | |tonne) | |-----------------------------------------------------------------------| |BCRC12-022|32 |37 |5 |1.73 | |-----------------------------------------------------------------------| |including |33 |34 |1 |7.06 | |-----------------------------------------------------------------------| | |48 |53 |5 |0.53 | |-----------------------------------------------------------------------| | |84 |86 |2 |0.44 | |-----------------------------------------------------------------------| | |91 |95 |4 |0.62 | |-----------------------------------------------------------------------| |Holes BCRC-023 through BCRC-028 were part of Phase One drilling | |and results have been released previously | |-----------------------------------------------------------------------| |BCRC12-029|45 |50 |5 |1.30 | |-----------------------------------------------------------------------| |including |45 |46 |1 |4.28 | |-----------------------------------------------------------------------| | |60 |72 |12 |1.34 | |-----------------------------------------------------------------------| |including |62 |63 |1 |13.39 | |-----------------------------------------------------------------------| |BCRC12-030|11 |13 |2 |0.42 | |-----------------------------------------------------------------------| | |20 |21 |1 |0.66 | |-----------------------------------------------------------------------| | |34 |36 |2 |1.28 | |-----------------------------------------------------------------------| | |49 |54 |5 |0.37 | |-----------------------------------------------------------------------| |BCRC12-031|32 |37 |5 |0.75 | |-----------------------------------------------------------------------| | |49 |57 |8 |0.69 | |-----------------------------------------------------------------------| | |66 |67 |1 |1.23 | |-----------------------------------------------------------------------| |BCRC12-032|29 |36 |7 |3.78 | |-----------------------------------------------------------------------| |including |31 |32 |1 |5.31 | |-----------------------------------------------------------------------| |including |33 |34 |1 |18.87 | |-----------------------------------------------------------------------| | |44 |45 |1 |0.86 | |-----------------------------------------------------------------------| | |48 |52 |4 |0.91 | |-----------------------------------------------------------------------| | |56 |57 |1 |1.33 | |-----------------------------------------------------------------------| |BCRC12-033|39 |42 |3 |0.32 | |-----------------------------------------------------------------------| | |50 |67 |17 |0.70 | |-----------------------------------------------------------------------| |including |56 |57 |1 |3.09 | |-----------------------------------------------------------------------| |BCRC12-034|10 |14 |4 |0.90 | |-----------------------------------------------------------------------| | |28 |29 |1 |0.70 | |-----------------------------------------------------------------------| | |36 |40 |4 |0.53 | |-----------------------------------------------------------------------| |BCRC12-035|0 |1 |1 |0.88 | |-----------------------------------------------------------------------| | |13 |27 |14 |3.68 | |-----------------------------------------------------------------------| |including |14 |16 |2 |19.37 | |-----------------------------------------------------------------------| |including |14 |15 |1 |32.35 | |-----------------------------------------------------------------------| |BCRC12-036|0 |7 |7 |0.33 | |-----------------------------------------------------------------------| | |19 |34 |15 |1.04 | |-----------------------------------------------------------------------| |including |29 |30 |1 |5.69 | |-----------------------------------------------------------------------| |BCRC12-037|2 |11 |9 |0.47 | |-----------------------------------------------------------------------| | |15 |26 |11 |2.56 | |-----------------------------------------------------------------------| |including |25 |26 |1 |24.56 | |-----------------------------------------------------------------------| | |33 |42 |9 |8.98 | |-----------------------------------------------------------------------| |including |34 |35 |1 |74.39 | |-----------------------------------------------------------------------| |BCRC12-038|0 |9 |9 |0.58 | |-----------------------------------------------------------------------| |including |5 |6 |1 |3.34 | |-----------------------------------------------------------------------| | |21 |28 |7 |0.30 | |-----------------------------------------------------------------------| | |36 |41 |5 |0.32 | |-----------------------------------------------------------------------| |BCRC12-039|0 |1 |1 |1.76 | |-----------------------------------------------------------------------| | |14 |31 |17 |0.67 | |-----------------------------------------------------------------------| |including |30 |31 |1 |3.48 | |-----------------------------------------------------------------------| |BCRC12-040|9 |21 |12 |6.16 | |-----------------------------------------------------------------------| |including |9 |14 |5 |14.19 | |-----------------------------------------------------------------------| |including |9 |10 |1 |8.42 | |-----------------------------------------------------------------------| |including |11 |13 |2 |28.21 | |-----------------------------------------------------------------------| | |29 |37 |8 |1.13 | |-----------------------------------------------------------------------| |including |36 |37 |1 |3.36 | |-----------------------------------------------------------------------| |BCRC12-041|49 |51 |2 |0.82 | |-----------------------------------------------------------------------| |BCRC12-042|6 |12 |6 |0.82 | |-----------------------------------------------------------------------| | |15 |24 |9 |0.38 | |-----------------------------------------------------------------------| | |49 |51 |2 |3.82 | |-----------------------------------------------------------------------| | |30 |32 |2 |0.50 | |-----------------------------------------------------------------------| | |39 |41 |2 |0.56 | |-----------------------------------------------------------------------| | |45 |50 |5 |0.95 | |-----------------------------------------------------------------------| |BCRC12-043|33 |41 |8 |0.51 | |-----------------------------------------------------------------------| | |59 |61 |2 |1.25 | |-----------------------------------------------------------------------| | |67 |69 |2 |0.64 | |-----------------------------------------------------------------------| | |72 |76 |4 |0.46 | |-----------------------------------------------------------------------| |BCRC12-044|21 |24 |3 |0.43 | |-----------------------------------------------------------------------| | |54 |55 |1 |2.75 | |-----------------------------------------------------------------------| | |80 |84 |4 |0.36 | |-----------------------------------------------------------------------| |BCRC12-045|37 |41 |4 |0.34 | |-----------------------------------------------------------------------| | |68 |69 |1 |1.73 | |-----------------------------------------------------------------------| | |78 |81 |3 |0.49 | |-----------------------------------------------------------------------| | |95 |99 |4 |0.92 | |-----------------------------------------------------------------------| |BCRC12-046|15 |19 |4 |0.60 | |-----------------------------------------------------------------------| | |41 |42 |1 |2.29 | |-----------------------------------------------------------------------| | |45 |50 |5 |1.28 | |-----------------------------------------------------------------------| |including |49 |50 |1 |4.31 | |-----------------------------------------------------------------------| | |55 |59 |4 |1.55 | |-----------------------------------------------------------------------| |including |57 |58 |1 |3.75 | |-----------------------------------------------------------------------| |BCRC12-047|hole drilled outside of basin; no significant values | |-----------------------------------------------------------------------| |BCRC12-048|28 |37 |9 |0.36 | |-----------------------------------------------------------------------| | |54 |59 |5 |0.32 | |-----------------------------------------------------------------------| | |66 |68 |2 |0.73 | |-----------------------------------------------------------------------| | |76 |79 |3 |1.39 | |-----------------------------------------------------------------------| | |89 |93 |4 |0.46 | |-----------------------------------------------------------------------| |BCRC12-049|6 |7 |1 |3.88 | |-----------------------------------------------------------------------| | |14 |17 |3 |1.69 | |-----------------------------------------------------------------------| | |20 |24 |4 |0.36 | |-----------------------------------------------------------------------| | |51 |52 |1 |1.25 | |-----------------------------------------------------------------------| |BCRC12-050|6 |9 |3 |0.44 | |-----------------------------------------------------------------------| | |29 |34 |5 |7.52 | |-----------------------------------------------------------------------| |including |30 |33 |3 |12.33 | |-----------------------------------------------------------------------| | |31 |32 |1 |25.37 | |-----------------------------------------------------------------------| |BCRC12-051|hole drilled outside of basin; no significant values | |-----------------------------------------------------------------------| |BCRC12-052|19 |21 |2 |1.54 | |-----------------------------------------------------------------------| | |42 |44 |2 |0.39 | |-----------------------------------------------------------------------| | |50 |52 |2 |0.65 | |-----------------------------------------------------------------------| |BCRC12-053|1 |4 |3 |0.72 | |-----------------------------------------------------------------------| | |22 |24 |2 |0.43 | |-----------------------------------------------------------------------| | |45 |48 |3 |0.31 | |-----------------------------------------------------------------------| |BCRC12-054|5 |8 |3 |0.46 | |-----------------------------------------------------------------------| | |12 |17 |5 |0.69 | |-----------------------------------------------------------------------| | |37 |39 |2 |0.80 | |-----------------------------------------------------------------------| | |46 |54 |8 |0.90 | |-----------------------------------------------------------------------| | |56 |58 |2 |0.43 | |-----------------------------------------------------------------------| | |65 |68 |3 |0.41 | |-----------------------------------------------------------------------| | |70 |73 |3 |1.81 | |-----------------------------------------------------------------------| |including |71 |72 |1 |3.45 | |-----------------------------------------------------------------------| |BCRC12-055|1 |3 |2 |1.65 | |-----------------------------------------------------------------------| |including |1 |2 |1 |3.04 | |-----------------------------------------------------------------------| | |5 |11 |6 |0.47 | |-----------------------------------------------------------------------| | |14 |15 |1 |0.74 | |-----------------------------------------------------------------------| | |25 |28 |3 |0.39 | |-----------------------------------------------------------------------| | |34 |36 |2 |0.39 | |-----------------------------------------------------------------------| | |40 |42 |2 |0.34 | |-----------------------------------------------------------------------| | |43 |45 |2 |0.86 | |-----------------------------------------------------------------------| | |56 |66 |10 |1.08 | |-----------------------------------------------------------------------| |including |60 |61 |1 |3.14 | |-----------------------------------------------------------------------| |including |64 |65 |1 |4.05 | |-----------------------------------------------------------------------| |BCRC12-056|0 |11 |11 |1.08 | |-----------------------------------------------------------------------| |including |0 |1 |1 |5.73 | |-----------------------------------------------------------------------| | |17 |29 |12 |0.45 | |-----------------------------------------------------------------------| | |32 |35 |3 |0.77 | |-----------------------------------------------------------------------| | |38 |42 |4 |0.64 | |-----------------------------------------------------------------------| | |59 |61 |2 |0.62 | |-----------------------------------------------------------------------| | |63 |65 |2 |0.47 | |-----------------------------------------------------------------------| | |66 |67 |1 |0.60 | |-----------------------------------------------------------------------| | |78 |82 |4 |0.75 | |-----------------------------------------------------------------------| | |87 |89 |2 |0.65 | |-----------------------------------------------------------------------| | |91 |96 |5 |1.47 | |-----------------------------------------------------------------------| |including |94 |95 |1 |5.08 | |-----------------------------------------------------------------------| | |98 |102 |4 |0.53 | |-----------------------------------------------------------------------| |BCRC12-057|10 |18 |8 |0.43 | |-----------------------------------------------------------------------| | |35 |36 |1 |0.60 | |-----------------------------------------------------------------------| | |41 |47 |6 |0.46 | |-----------------------------------------------------------------------| | |51 |52 |1 |0.92 | |-----------------------------------------------------------------------| |BCRC12-058|2 |6 |4 |0.72 | |-----------------------------------------------------------------------| | |14 |24 |10 |0.67 | |-----------------------------------------------------------------------| | |33 |35 |2 |0.41 | |-----------------------------------------------------------------------| | |44 |46 |2 |0.34 | |-----------------------------------------------------------------------| | |49 |57 |8 |0.68 | |-----------------------------------------------------------------------| |BCRC12-059|1 |5 |4 |1.33 | |-----------------------------------------------------------------------| |including |2 |3 |1 |3.29 | |-----------------------------------------------------------------------| | |17 |26 |9 |1.09 | |-----------------------------------------------------------------------| |including |24 |25 |1 |3.02 | |-----------------------------------------------------------------------| | |30 |31 |1 |0.76 | |-----------------------------------------------------------------------| | |51 |52 |1 |0.73 | |-----------------------------------------------------------------------| | |57 |59 |2 |0.38 | |-----------------------------------------------------------------------| | |61 |63 |2 |1.83 | |-----------------------------------------------------------------------| | |74 |75 |1 |1.93 | |-----------------------------------------------------------------------| |BCRC12-060|18 |19 |1 |11.69 | |-----------------------------------------------------------------------| | |21 |22 |1 |1.96 | |-----------------------------------------------------------------------| | |30 |38 |8 |0.56 | |-----------------------------------------------------------------------| | |84 |85 |1 |1.11 | |-----------------------------------------------------------------------| | |126 |134 |8 |1.09 | |-----------------------------------------------------------------------| |including |127 |128 |1 |3.89 | |-----------------------------------------------------------------------| |BCRC12-061|2 |10 |8 |0.65 | |-----------------------------------------------------------------------| | |18 |19 |1 |0.70 | |-----------------------------------------------------------------------| | |25 |31 |6 |0.43 | |-----------------------------------------------------------------------| |BCRC12-062|6 |14 |8 |0.50 | |-----------------------------------------------------------------------| | |19 |28 |9 |1.68 | |-----------------------------------------------------------------------| |including |19 |20 |1 |9.46 | |-----------------------------------------------------------------------| |including |22 |23 |1 |4.30 | |-----------------------------------------------------------------------| |BCRC12-063|2 |5 |3 |1.78 | |-----------------------------------------------------------------------| |including |2 |3 |1 |3.54 | |-----------------------------------------------------------------------| | |10 |17 |7 |1.65 | |-----------------------------------------------------------------------| | |13 |14 |1 |7.01 | |-----------------------------------------------------------------------| |BCRC12-064|0 |4 |4 |1.25 | |-----------------------------------------------------------------------| | |7 |10 |3 |4.42 | |-----------------------------------------------------------------------| | |7 |9 |2 |6.46 | |-----------------------------------------------------------------------| | |33 |36 |3 |0.31 | |-----------------------------------------------------------------------| |BCRC12-065|27 |28 |1 |0.60 | |-----------------------------------------------------------------------| | |37 |48 |11 |0.99 | |-----------------------------------------------------------------------| | |55 |56 |1 |0.59 | |-----------------------------------------------------------------------| | |58 |59 |1 |0.62 | |-----------------------------------------------------------------------| | |61 |63 |2 |0.37 | |-----------------------------------------------------------------------| | |64 |67 |3 |0.54 | |-----------------------------------------------------------------------| | |79 |82 |3 |0.49 | |-----------------------------------------------------------------------| | |84 |91 |7 |1.37 | |-----------------------------------------------------------------------| |including |86 |87 |1 |4.10 | |-----------------------------------------------------------------------| | |96 |97 |1 |0.60 | |-----------------------------------------------------------------------| |BCRC12-066|14 |15 |1 |1.18 | |-----------------------------------------------------------------------| | |22 |30 |8 |1.40 | |-----------------------------------------------------------------------| |including |24 |25 |1 |7.05 | |-----------------------------------------------------------------------| | |35 |38 |3 |0.93 | |-----------------------------------------------------------------------| | |44 |45 |1 |0.62 | |-----------------------------------------------------------------------| | |64 |68 |4 |1.03 | |-----------------------------------------------------------------------| | |75 |79 |4 |0.40 | |-----------------------------------------------------------------------| | |89 |91 |2 |0.79 | |-----------------------------------------------------------------------| |BCRC12-067|1 |4 |3 |0.41 | |-----------------------------------------------------------------------| | |8 |12 |4 |0.33 | |-----------------------------------------------------------------------| | |15 |19 |4 |1.57 | |-----------------------------------------------------------------------| |including |17 |18 |1 |3.28 | |-----------------------------------------------------------------------| | |28 |31 |3 |0.47 | |-----------------------------------------------------------------------| |BCRC12-068|hole drilled outside of basin; no significant values | |-----------------------------------------------------------------------| |BCRC12-069|10 |22 |12 |1.80 | |-----------------------------------------------------------------------| |including |14 |15 |1 |13.55 | |-----------------------------------------------------------------------| | |42 |43 |1 |0.68 | |-----------------------------------------------------------------------| | |58 |59 |1 |0.96 | |-----------------------------------------------------------------------| | |61 |66 |5 |0.74 | |-----------------------------------------------------------------------| | |71 |75 |4 |0.45 | |-----------------------------------------------------------------------| |BCRC12-070|4 |7 |3 |0.91 | |-----------------------------------------------------------------------| | |13 |16 |3 |0.41 | |-----------------------------------------------------------------------| | |20 |23 |3 |1.22 | |-----------------------------------------------------------------------| | |29 |35 |6 |1.51 | |-----------------------------------------------------------------------| | |46 |49 |3 |0.39 | |-----------------------------------------------------------------------| |BCRC12-071|4 |7 |3 |0.54 | |-----------------------------------------------------------------------| | |10 |13 |3 |0.92 | |-----------------------------------------------------------------------| | |29 |45 |16 |1.61 | |-----------------------------------------------------------------------| |including |30 |31 |1 |6.04 | |-----------------------------------------------------------------------| |including |35 |36 |1 |3.54 | |-----------------------------------------------------------------------| |including |38 |40 |2 |4.18 | |-----------------------------------------------------------------------| |BCRC12-072|14 |31 |17 |1.80 | |-----------------------------------------------------------------------| |including |16 |17 |1 |6.38 | |-----------------------------------------------------------------------| |including |18 |19 |1 |5.16 | |-----------------------------------------------------------------------| |including |25 |26 |1 |9.98 | |-----------------------------------------------------------------------| | |40 |44 |4 |0.41 | |-----------------------------------------------------------------------| | |49 |51 |2 |0.97 | |-----------------------------------------------------------------------| |BCRC12-073|2 |4 |2 |0.65 | |-----------------------------------------------------------------------| | |19 |21 |2 |2.17 | |-----------------------------------------------------------------------| |including |19 |20 |1 |3.63 | |-----------------------------------------------------------------------| | |25 |36 |11 |1.57 | |-----------------------------------------------------------------------| |including |28 |29 |1 |4.32 | |-----------------------------------------------------------------------| |including |30 |31 |1 |4.25 | |-----------------------------------------------------------------------| |including |34 |35 |1 |6.34 | |-----------------------------------------------------------------------| | |38 |39 |1 |0.62 | |-----------------------------------------------------------------------| | |41 |43 |2 |0.44 | |-----------------------------------------------------------------------| | |54 |55 |1 |0.70 | |-----------------------------------------------------------------------| |BCRC12-074|25 |38 |13 |0.68 | |-----------------------------------------------------------------------| | |43 |48 |5 |0.43 | |-----------------------------------------------------------------------| |BCRC12-075|21 |22 |1 |0.53 | |-----------------------------------------------------------------------| | |32 |39 |7 |1.49 | |-----------------------------------------------------------------------| | |35 |36 |1 |5.83 | |-----------------------------------------------------------------------| | |44 |49 |5 |1.03 | |-----------------------------------------------------------------------| | |53 |58 |5 |0.38 | |-----------------------------------------------------------------------| |BCRC12-076|26 |28 |2 |0.36 | |-----------------------------------------------------------------------| | |34 |39 |5 |1.64 | |-----------------------------------------------------------------------| |including |34 |36 |2 |3.82 | |-----------------------------------------------------------------------| | |47 |57 |10 |0.69 | |-----------------------------------------------------------------------| | |59 |60 |1 |0.90 | |-----------------------------------------------------------------------| |BCRC12-077|54 |59 |5 |0.44 | |-----------------------------------------------------------------------| | |62 |67 |5 |0.85 | |-----------------------------------------------------------------------| | |70 |75 |5 |0.65 | |-----------------------------------------------------------------------| | |83 |84 |1 |0.72 | |-----------------------------------------------------------------------| |BCRC12-078|21 |23 |2 |0.60 | |-----------------------------------------------------------------------| | |30 |31 |1 |0.61 | |-----------------------------------------------------------------------| | |47 |52 |5 |1.22 | |-----------------------------------------------------------------------| |including |47 |48 |1 |5.22 | |-----------------------------------------------------------------------| | |62 |65 |3 |6.31 | |-----------------------------------------------------------------------| |including |62 |64 |2 |9.07 | |-----------------------------------------------------------------------| |BCRC12-079|1 |5 |4 |0.67 | |-----------------------------------------------------------------------| | |13 |23 |10 |1.66 | |-----------------------------------------------------------------------| | |21 |23 |2 |7.89 | |-----------------------------------------------------------------------| | |32 |41 |9 |0.99 | |-----------------------------------------------------------------------| |including |40 |41 |1 |3.48 | |-----------------------------------------------------------------------| | |45 |46 |1 |1.45 | |-----------------------------------------------------------------------| | |60 |63 |3 |0.52 | |-----------------------------------------------------------------------| |BCRC12-080|4 |6 |2 |0.62 | |-----------------------------------------------------------------------| | |12 |13 |1 |1.93 | |-----------------------------------------------------------------------| | |20 |23 |3 |0.33 | |-----------------------------------------------------------------------| | |26 |29 |3 |0.58 | |-----------------------------------------------------------------------| | |37 |43 |6 |1.33 | |-----------------------------------------------------------------------| |including |41 |42 |1 |6.08 | |-----------------------------------------------------------------------| | |48 |52 |4 |0.79 | |-----------------------------------------------------------------------| | |58 |62 |4 |0.34 | |-----------------------------------------------------------------------| |BCRC12-081|14 |16 |2 |0.44 | |-----------------------------------------------------------------------| | |20 |21 |1 |0.51 | |-----------------------------------------------------------------------| | |40 |41 |1 |0.48 | |-----------------------------------------------------------------------| | |46 |47 |1 |0.53 | |-----------------------------------------------------------------------| | |49 |53 |4 |3.85 | |-----------------------------------------------------------------------| |including |49 |50 |1 |10.86 | |-----------------------------------------------------------------------| |including |51 |52 |1 |3.78 | |-----------------------------------------------------------------------| | |56 |58 |2 |0.51 | |-----------------------------------------------------------------------| | |66 |67 |1 |0.69 | |-----------------------------------------------------------------------| |BCRC12-082|22 |24 |2 |0.35 | |-----------------------------------------------------------------------| | |42 |60 |18 |0.72 | |-----------------------------------------------------------------------| |including |47 |48 |1 |4.05 | |-----------------------------------------------------------------------| |including |59 |60 |1 |6.12 | |-----------------------------------------------------------------------| | |66 |68 |2 |0.31 | |-----------------------------------------------------------------------| |BCRC12-083|52 |64 |12 |0.57 | |-----------------------------------------------------------------------| | |81 |83 |2 |0.47 | |-----------------------------------------------------------------------| | |86 |90 |4 |0.82 | |-----------------------------------------------------------------------| |BCRC12-084|6 |8 |2 |0.36 | |-----------------------------------------------------------------------| | |34 |48 |14 |0.31 | |-----------------------------------------------------------------------| | |72 |80 |8 |0.57 | |-----------------------------------------------------------------------| |BCRC12-085|3 |11 |8 |0.40 | |-----------------------------------------------------------------------| | |18 |43 |25 |0.33 | |-----------------------------------------------------------------------| | |71 |72 |1 |1.83 | |-----------------------------------------------------------------------| |BCRC12-086|3 |12 |9 |0.44 | |-----------------------------------------------------------------------| | |25 |33 |8 |1.34 | |-----------------------------------------------------------------------| |including |27 |28 |1 |7.89 | |-----------------------------------------------------------------------| | |45 |51 |6 |0.34 | |-----------------------------------------------------------------------| |BCRC12-087|11 |24 |13 |0.33 | |-----------------------------------------------------------------------| | |34 |53 |19 |0.52 | |-----------------------------------------------------------------------| | |58 |63 |5 |0.33 | |-----------------------------------------------------------------------| |BCRC12-088|46 |48 |2 |0.48 | |-----------------------------------------------------------------------| |BCRC12-089|104 |105 |1 |0.66 | |-----------------------------------------------------------------------| | |118 |120 |2 |0.50 | |-----------------------------------------------------------------------| | |149 |150 |1 |1.64 | |-----------------------------------------------------------------------| |BCRC12-090|13 |16 |3 |0.35 | |-----------------------------------------------------------------------| | |20 |22 |2 |0.41 | |-----------------------------------------------------------------------| | |77 |79 |2 |0.35 | |-----------------------------------------------------------------------| | |101 |103 |2 |0.31 | |-----------------------------------------------------------------------| | |119 |121 |2 |0.62 | |-----------------------------------------------------------------------| |BCRC12-091|72 |76 |4 |0.38 | |-----------------------------------------------------------------------| | |88 |96 |8 |0.38 | |-----------------------------------------------------------------------| | |100 |104 |4 |0.30 | |-----------------------------------------------------------------------| |BCRC12-092|17 |21 |4 |0.69 | |-----------------------------------------------------------------------| | |39 |43 |4 |10.09 | |-----------------------------------------------------------------------| |including |39 |40 |1 |38.98 | |-----------------------------------------------------------------------| | |55 |63 |8 |1.37 | |-----------------------------------------------------------------------| |including |55 |56 |1 |3.42 | |-----------------------------------------------------------------------| |including |58 |59 |1 |4.20 | |-----------------------------------------------------------------------| |BCRC12-093|24 |26 |2 |0.47 | |-----------------------------------------------------------------------| | |43 |46 |3 |0.78 | |-----------------------------------------------------------------------| | |52 |66 |14 |0.44 | |-----------------------------------------------------------------------| |BCRC12-094|25 |27 |2 |0.31 | |-----------------------------------------------------------------------| | |38 |41 |3 |4.30 | |-----------------------------------------------------------------------| |including |39 |40 |1 |12.01 | |-----------------------------------------------------------------------| | |48 |63 |15 |1.08 | |-----------------------------------------------------------------------| |including |57 |59 |2 |3.18 | |-----------------------------------------------------------------------| |BCRC12-095|19 |22 |3 |1.31 | |-----------------------------------------------------------------------| |including |19 |20 |1 |3.01 | |-----------------------------------------------------------------------| | |34 |37 |3 |0.30 | |-----------------------------------------------------------------------| | |40 |43 |3 |2.35 | |-----------------------------------------------------------------------| | |51 |66 |15 |1.44 | |-----------------------------------------------------------------------| |including |56 |58 |2 |5.77 | |-----------------------------------------------------------------------| | |77 |80 |3 |0.54 | |-----------------------------------------------------------------------| |BCRC12-096|40 |42 |2 |4.28 | |-----------------------------------------------------------------------| | |46 |49 |3 |0.33 | |-----------------------------------------------------------------------| | |55 |59 |4 |1.71 | |-----------------------------------------------------------------------| | |62 |66 |4 |0.54 | |-----------------------------------------------------------------------| |BCRC12-097|20 |22 |2 |0.33 | |-----------------------------------------------------------------------| | |39 |48 |9 |1.20 | |-----------------------------------------------------------------------| |including |43 |44 |1 |6.35 | |-----------------------------------------------------------------------| | |55 |65 |10 |0.86 | |-----------------------------------------------------------------------| |including |56 |57 |1 |3.31 | |-----------------------------------------------------------------------| |BCRC12-098|33 |61 |28 |0.89 | |-----------------------------------------------------------------------| |including |37 |38 |1 |10.84 | |-----------------------------------------------------------------------| |BCRC12-099|31 |32 |1 |0.99 | |-----------------------------------------------------------------------| | |38 |42 |4 |1.84 | |-----------------------------------------------------------------------| |including |39 |40 |1 |4.07 | |-----------------------------------------------------------------------| | |52 |68 |16 |1.30 | |-----------------------------------------------------------------------| |including |54 |55 |1 |10.59 | |-----------------------------------------------------------------------| |including |61 |62 |1 |4.45 | |-----------------------------------------------------------------------| |BCRC12-100|38 |39 |1 |11.65 | |-----------------------------------------------------------------------| | |44 |48 |4 |0.88 | |-----------------------------------------------------------------------| |including |46 |47 |1 |3.01 | |-----------------------------------------------------------------------| | |59 |62 |3 |0.51 | |-----------------------------------------------------------------------| | |66 |69 |3 |1.61 | |-----------------------------------------------------------------------| |including |66 |67 |1 |3.43 | |-----------------------------------------------------------------------| |BCRC12-101|39 |51 |12 |0.47 | |-----------------------------------------------------------------------| | |54 |68 |14 |0.66 | |-----------------------------------------------------------------------| |including |59 |60 |1 |4.56 | |-----------------------------------------------------------------------| |BCRC12-102|hole drilled outside of basin; no significant values | |-----------------------------------------------------------------------| |BCRC12-103|hole drilled outside of basin; no significant values | |-----------------------------------------------------------------------| |BCRC12-104|hole drilled outside of basin; no significant values | |-----------------------------------------------------------------------| |BCRC12-105|7 |16 |9 |0.43 | |-----------------------------------------------------------------------| |BCRC12-106|18 |24 |6 |0.32 | |-----------------------------------------------------------------------| | |28 |33 |5 |0.30 | |-----------------------------------------------------------------------| | |38 |49 |11 |0.51 | |-----------------------------------------------------------------------| |including |39 |40 |1 |3.08 | |-----------------------------------------------------------------------| |BCRC12-107|3 |5 |2 |0.44 | |-----------------------------------------------------------------------| | |9 |20 |11 |1.79 | |-----------------------------------------------------------------------| |including |9 |10 |1 |5.18 | |-----------------------------------------------------------------------| |including |15 |16 |1 |3.48 | |-----------------------------------------------------------------------| |including |18 |19 |1 |5.47 | |-----------------------------------------------------------------------| | |42 |45 |3 |0.91 | |-----------------------------------------------------------------------| |BCRC12-108|1 |4 |3 |0.41 | |-----------------------------------------------------------------------| | |9 |14 |5 |0.60 | |-----------------------------------------------------------------------| | |20 |35 |15 |0.53 | |-----------------------------------------------------------------------| |BCRC12-109|47 |59 |12 |0.35 | |-----------------------------------------------------------------------| | |63 |74 |11 |0.88 | |-----------------------------------------------------------------------| |including |67 |68 |1 |6.04 | |-----------------------------------------------------------------------| | |122 |123 |1 |2.29 | |-----------------------------------------------------------------------| |BCRC12-110|47 |56 |9 |0.83 | |-----------------------------------------------------------------------| |including |49 |50 |1 |3.85 | |-----------------------------------------------------------------------| | |63 |69 |6 |1.08 | |-----------------------------------------------------------------------| |BCRC12-111|56 |64 |8 |3.63 | |-----------------------------------------------------------------------| |including |58 |59 |1 |27.19 | |-----------------------------------------------------------------------| | |67 |69 |2 |0.35 | |-----------------------------------------------------------------------| | |72 |78 |6 |0.44 | -------------------------------------------------------------------------
Because of the shallow dip of the gold-bearing conglomerates being targeted, mineralized intercepts reported in this news release are close to the true width of the reefs. Some mineralized intercepts include narrower intervals of very high grades. These have been broken out in the tables in this news release. Weighted averages were used to calculate all mineralized intervals.
Reconnaissance Drilling
Beginning in early November, reconnaissance level drilling was conducted in two areas. The first target, Ronkies Reef, is approximately 6.5 kilometers due south of Grants Hill. Eight reverse circulation drill holes tested about 400 meters of strike along outcropping conglomerates on the margin of the basin. Surface rock chip samples from these conglomerates returned up to 7 gpt gold. Results from these holes are expected to be received in January 2013.
The second target, Golden Crown Hill, situated approximately 800 meters northeast of Grants Hill was tested by nineteen reverse circulation holes drilled in an area approximately 500 meters in diameter. Results from these holes are expected to be received in January 2013.
Quality Control and Quality Assurance
Reverse circulation drill cuttings are collected from every one meter interval at the drill, logged and sampled by Novo personnel. Samples were prepared and analyzed using the Leachwell technique by Intertek-Genalysis Laboratory Services Pty Ltd, Perth, Australia. The Leachwell technique utilizes a large, 1 kilogram, split of pulverized sample thereby reducing the variability associated with coarse particulate gold. Because this technique uses a solution of sodium cyanide to dissolve gold, it also provides a preliminary indication of what levels of gold might be recoverable from these rocks. Novo personnel submitted quality control samples, including duplicates, standards and blanks.
Dr. Quinton Hennigh, the Company's Chief Executive Officer, President and Director and a Qualified Person as defined by National Instrument 43-101, has approved the technical contents of this news release. Novo Resources personnel have performed work at Beatons Creek under the supervision of Dr. Hennigh.
About Beatons Creek
The Beatons Creek Tenements cover extensive exposures of the Beatons Creek conglomerates, a series of Archaean age pyritic conglomerates hosting gold mineralization similar to that of the Witwatersrand Basin in the Republic of South Africa. Shallow gold reefs were first identified and mined in this area beginning in the late 1800's. Novo's current drill program is the first modern, systematic exploration on the property.
About Novo Resources Corp.
Novo's focus is to evaluate, acquire and explore natural resource properties and make strategic investments in gold exploration companies. The Company presently has joint ventures earning a 70% interest two exploration properties, Beatons Creek and Marble Bar, situated in Western Australia. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail [email protected]
Figure 1: Cross Section
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http://thenewswire.ca/client_files/2012-12-19-0.pdf
Figure 2: Plan Map
TO VIEW FIGURE 2 COPY URL BELOW AND PASTE INTO NEW BROWSER WINDOW
http://thenewswire.ca/client_files/2012-12-19-1.pdf
On Behalf of the Board of Directors,
Novo Resources Corp.
"Quinton Hennigh"
Quinton Hennigh
CEO and President
The Canadian National Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content 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 planned activities of the remainder of the phase two campaign at Grants Hill. 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, the ability to complete the drilling program as currently contemplated, the receipt of successful results as drilling proceeds, customary risks of the mineral resource exploration industry as well as Novo having sufficient cash to fund the planned drilling and other activities.