VANCOUVER, April 4, 2013 - Novo Resources Corp. (the "Company") (CNSX: NVO; OTCQX: NSRPF) is pleased to announce that it has completed eight diamond core holes at its Beatons Creek Gold Project, Western Australia. Data collected from this core will enable completion of the first NI 43-101 compliant resource at Beatons Creek, anticipated by early May.
"Our initial drilling was entirely reverse circulation which produces samples consisting of small chips," commented Dr. Quinton Hennigh, President and CEO of Novo Resources. "These core holes provide our first look at the gold-bearing conglomerates at Beatons Creek. In places, the matrix of these conglomerates displays high concentrations of pyrite pebbles and finer grained 'buckshot' pyrite similar to that observed in some gold-bearing conglomerates from the Witwatersrand Basin in South Africa. We will be quite eager to see how upcoming assays from our core compare to these positive visual indications."
Diamond Core Drilling
Eight PQ-size diamond core holes were completed at Beatons Creek between February 5 and March 22, 2013 (see attached drill plan map). Heavy rains from Cyclone Rusty delayed access to site causing a two-week delay in the anticipated date of completion of this program. Each core hole twinned an earlier reverse circulation drill hole completed in 2011 and 2012. The Company is currently preparing this core for specific gravity (SG) measurements, assaying and various metallurgical tests.
Upon receipt of SG measurements, a NI 43-101 compliant resource estimate will be finalized by Tetra Tech WEI Inc, Perth, Australia with a completion date now expected in early May, 2013. Assay and metallurgical test results are expected back by mid-2013.
All eight diamond core holes encountered boulder conglomerates, some of which display pyrite pebbles and small, rounded pyrite grains termed "buckshot" pyrite (see attached core photos). Such pyrite closely accompanied gold-bearing intervals in nearby reverse circulation drill holes.
Surface Samples
In a news release dated January 24, 2013, the Company discussed assay results from rock chip samples taken in areas north of Grants Hill at Beatons Creek (see attached rock chip samples map). SGS Laboratory in Perth, Australia first assayed these samples from which high numbers were reported. To verify these results, the Company had these samples re-assayed by Intertek-Genalysis Laboratory Services Pty Ltd, Perth, Australia ("Genalysis"). Genalysis reported similar high gold values. Variability displayed by repeat assays is believed due to nugget effect.
--------------------------------------------------------------------- |Beatons Creek 2012 Rock Chip | | | | |Samples | | | | |-------------------------------------------------------------------| | |SGS |Genalysis |Genalysis |Genalysis |Genalysis | | |Laboratory|Labs (FA) |Labs (FA) |Labs (FA) |Labs (FA) | | |(FA)* | | | | | |-------------------------------------------------------------------| | |Gold |Gold |Gold-repeat|Gold-repeat|Gold-repeat| | | | |1 |2 |3 | |-------------------------------------------------------------------| |Sample |(grams per|(grams per|(grams per |(grams per |(grams per | |Number |tonne) |tonne) |tonne) |tonne) |tonne) | |-------------------------------------------------------------------| |GCKS001 |3.01 |2.32 | | | | |-------------------------------------------------------------------| |GCKS002 |2.41 |1.91 | | | | |-------------------------------------------------------------------| |GCKS003 |26.50 |26.70 |43.59 |19.81 | | |-------------------------------------------------------------------| |GCKS004 |3.58 |2.51 | | | | |-------------------------------------------------------------------| |GCKS005 |0.81 |0.80 | | | | |-------------------------------------------------------------------| |GCKS006 |0.11 |0.10 | | | | |-------------------------------------------------------------------| |GCKS007 |6.76 |10.11 |7.39 |11.51 | | |-------------------------------------------------------------------| |GCKS008 |3.68 |4.29 | | | | |-------------------------------------------------------------------| |GCKS009 |9.46 |7.47 | | | | |-------------------------------------------------------------------| |GCKS010 |2.11 |0.30 | | | | |-------------------------------------------------------------------| |GCKS011 |0.38 |1.30 | | | | |-------------------------------------------------------------------| |GCKS012 |0.04 |0.21 | | | | |-------------------------------------------------------------------| |GCKS013 |2.78 |5.79 | | | | |-------------------------------------------------------------------| |GCKS014 |1.88 |1.92 | | | | |-------------------------------------------------------------------| |GCKS015 |0.77 |0.92 | | | | |-------------------------------------------------------------------| |GCKS016 |27.80 |6.03 | | | | |-------------------------------------------------------------------| |GCKS017 |0.59 |0.93 | | | | |-------------------------------------------------------------------| |GCKS018 |2.87 |3.40 | | | | |-------------------------------------------------------------------| |GCKS019 |9.10 |5.93 | | | | |-------------------------------------------------------------------| |GCKS020 |5.17 |5.41 | | | | |-------------------------------------------------------------------| |GCKS021 |8.64 |11.90 | | | | |-------------------------------------------------------------------| |GCKS022 |8.64 |22.10 |4.85 |7.32 |8.12 | |-------------------------------------------------------------------| |GCKS023 |0.84 |1.05 | | | | |-------------------------------------------------------------------| |GCKS024 |2.74 |2.46 | | | | |-------------------------------------------------------------------| |GCKS025 |1.04 |0.35 | | | | |-------------------------------------------------------------------| |GCKS026 |0.09 |0.65 | | | | |-------------------------------------------------------------------| |GCKS027 |0.27 |0.23 | | | | |-------------------------------------------------------------------| |GCKS028 |1.86 |5.89 | | | | |-------------------------------------------------------------------| |GCKS029 |0.52 |0.54 | | | | |-------------------------------------------------------------------| |GCKS030 |7.73 |7.93 | | | | |-------------------------------------------------------------------| |GCKS031 |1.17 |1.08 | | | | |-------------------------------------------------------------------| |GCKS032 |1.17 |1.53 | | | | |-------------------------------------------------------------------| |GCKS033 |2.89 |1.72 | | | | |-------------------------------------------------------------------| |GCKS034 |0.45 |0.44 | | | | |-------------------------------------------------------------------| |GCKS035 |7.45 |2.91 | | | | |-------------------------------------------------------------------| |GCKS036 |0.52 |1.48 | | | | |-------------------------------------------------------------------| |GCKS037 |6.55 |2.53 | | | | |-------------------------------------------------------------------| |GCKS038 |0.77 |0.92 | | | | |-------------------------------------------------------------------| |GCKS039 |0.16 |0.18 | | | | |-------------------------------------------------------------------| |GCKS040 |4.51 |4.07 | | | | |-------------------------------------------------------------------| |GCKS041 |10.60 |17.21 |26.32 | | | |-------------------------------------------------------------------| |GCKS042 |51.20 |39.62 |64.27 |72.05 | | |-------------------------------------------------------------------| |GCKS043 |16.30 |36.82 |23.63 |9.87 | | |-------------------------------------------------------------------| |GCKS044 |15.60 |15.54 |13.98 | | | |-------------------------------------------------------------------| |GCKS045 |22.10 |20.30 |14.19 | | | |-------------------------------------------------------------------| |GCKS046 |4.23 |4.80 | | | | |-------------------------------------------------------------------| |GCKS047 |13.40 |12.87 | | | | |-------------------------------------------------------------------| |GCKS048 |0.07 |0.21 | | | | |-------------------------------------------------------------------| |GCKS049 |11.50 |17.72 | | | | |-------------------------------------------------------------------| |GCKS050 |0.23 |0.23 | | | | |-------------------------------------------------------------------| |GCKS051 |0.38 |0.31 | | | | |-------------------------------------------------------------------| |GCKS052 |0.21 |0.22 | | | | |-------------------------------------------------------------------| |GCKS053 |2.82 |3.12 | | | | |-------------------------------------------------------------------| |GCKS054 |10.80 |18.65 | | | | |-------------------------------------------------------------------| |GCKS055 |8.52 |8.97 | | | | |-------------------------------------------------------------------| |GCKS056 |15.80 |20.75 | | | | |-------------------------------------------------------------------| |GCKS057 |7.96 |7.73 |7.52 | | | |-------------------------------------------------------------------| |GCKS058 |2.42 |2.19 | | | | |-------------------------------------------------------------------| |GCKS059 |2.49 |2.62 | | | | |-------------------------------------------------------------------| |GCKS060 |2.09 |1.08 | | | | |-------------------------------------------------------------------| |GCKS061 |0.92 |0.63 | | | | |-------------------------------------------------------------------| |GCKS062 |0.91 |1.12 | | | | |-------------------------------------------------------------------| |GCKS063 |1.01 |1.26 | | | | |-------------------------------------------------------------------| |GCKS064 |1.12 |1.12 | | | | |-------------------------------------------------------------------| |GCKS065 |0.65 |0.66 | | | | |-------------------------------------------------------------------| |* Announced in a news release dated January 24, 2013 | ---------------------------------------------------------------------
Quality Control and Quality Assurance
Surface rock chip samples initially reported on January 24, 2013, were prepared and analyzed by SGS Laboratories, Perth, Australia. Fire assays were employed using a 50 gram charge and ICP finish. These same samples were re-assayed by fire assay method by Intertek-Genalysis Laboratory Services Pty Ltd, Perth, Australia, using a 50 gram charge and ICP finish and are reported in this news release.
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.
TO VIEW IMAGES COPY URL BELOW AND PASTE IN NEW BROWSER WINDOW
Drill Plan Map
http://thenewswire.ca/client_files/2013-04-03-0.pdf
Core Photos
http://thenewswire.ca/client_files/2013-04-03-1.pdf
Rock Chip Samples Map
http://thenewswire.ca/client_files/2013-04-03-2.pdf
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 Resources' 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. 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]
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, the statements regarding the completion of a NI 43-101 compliant resource estimate and the expected receipt of assay and metallurgical test 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, the ability of Tetra Tech WEI Inc to complete the NI 43-101 compliant resource estimate and deliver the assay and metallurgical test results within the currently anticipated time periods, as well as customary risks of the mineral resource exploration industry.