Novo Discovers Highly Prospective Oxide Gold Targets at Nullagine Gold Project

Novo Resources Corp. reports that it has detected an array of highly promising oxide gold targets inside its recently consolidated tenure consisting of its wholly-controlled Nullagine Gold Project. This project includes the newly procured Golden Eagle processing facility.

Such gold targets contribute to the considerable exploration potential recently discussed by Novo Resources at Beatons Creek.

With its latest acquisition of Millennium Minerals Limited and further tenure from the Creasy Group, Novo Resources presently manages more than 1,250 km² of widely adjoining tenements, spanning a large part of the potential ground inside the Nullagine mining district.

This is the first time that the Nullagine mining district has come under the management of a single company and offers an interesting chance to identify more gold resources for the Nullagine Gold Project.

Recently, the exploration team of Novo Resources performed an in-depth analysis of the holistic dataset across the Nullagine Gold Project. This information was created over the last 20 years by the Creasy Group, Millennium Minerals Limited, and Novo Resources, and it has been combined into a detailed database.

Thanks to this integrated database, Novo Resources has a unique opportunity to inspect all familiar regions of gold mineralization with the goal of creating a series of opportunities for additional discovery of resources that are possibly appropriate for production at the Golden Eagle Mill.

Exploration opportunities represent the following:

Camel Creek/20 Mile Sandy

This area contains various targets for the exploration of shallow oxides and the prospective development of resources (for example, Cutlass, Captains, and Mountain Maid). It also contains various soil anomalies along with minimal mapping, no drilling, or rock chip sampling.

Parnell

Parnell is a newly permitted Mining Lease procured by Millennium Minerals Limited just before entering into administration. Since 1997, no drilling has been completed in this lease. Many mineralized structures—detected with rock chip sampling and follow-up historical drilling—offer prospective oxide targets.

Blue Spec East

Blue Spec East provides the chance to improve various oxide targets and also offers the possibility to connect Millennium’s prospects (Goshawk and Kestrel) with Novo Resources’ prospects (Apex and Napa Valley East) along the Blue Spec Trend.

Footrot Flats/Golden Eagle NNE

This area provides an exploration opportunity, presenting three 2–4 km trends of high-grade rock chips that lie parallel to the Golden Eagle Mill, with broad-spaced historic reverse circulation drill traverses, offering mineralized drill-ready intercepts. Recently, a mining lease application has been submitted for the central region with the key target expanding onto the granted mining leases.

Sayshell Trend

This trend was recently discovered and remains under-explored. It is a prospective basin-scale mineralized corridor, defined by Au-As in soils across 16 km and remains exposed to the west and east. This corridor is situated parallel to and 3.5 km north of the Blue Spec Line. There is potential for shallow oxide along the whole trend, with various distinct targets currently appearing from the merged Novo, Millennium, Creasy Group data.

Golden Eagle

At present, Novo Resources is performing a preliminary geological and geo-metallurgical review to define any non-refractory mineralization that remains at the Golden Eagle Mill. Novo Resources is aiming to create a novel 3D geological model of the deposit to focus on extensions to mineralization and to improve the model mineralization with conducive metallurgical properties to enable satisfactory recoveries.

Bartons

Novo Resources has also discovered a considerable oxide potential along strike from the Bartons deposit, apart from the under-explored parallel trends selected by soil anomalies across the recently integrated tenure. A few of these anomalies have corresponding high-grade rock chip outcomes and prospector workings.

Upon consolidation of the NGP, Novo’s exploration team quickly set about collating huge datasets from the Creasy Group and Millennium and combining it with our in-house database.

Quinton Hennigh, Chairman and President, Novo Resources Corp.

Hennigh continued, “This has resulted in the rapid identification of numerous exploration opportunities across our newly consolidated tenure in the Nullagine mining district. These targets add to the already exciting potential we have recently discussed at Beatons Creek. We see the ability to put together a very large pipeline of opportunity to support our goal of making Nullagine a long-lived mining centre for Novo for many years to come.”