Announcement Date: 2022-05-10
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Novo Resources Corp.
Project name: Malmsbury
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 14m @ 6.1g/t Au from 120m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: VANCOUVER, BC – Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to report significant assay results received from the current diamond drilling program on RL006587 at the Malmsbury Project, approximately 50 km SSW of the high-grade Fosterville mine in Victoria, Australia. Novo exercised its option over the Malmsbury Project to earn a 50% interest and the right to earn an additional 10% interest by incurring A$5 million in exploration expenditure over a four-year period Approximately 2,000 m (7 holes, 1 in progress) of a circa 2,650 m planned diamond drilling program have been completed to date at the Malmsbury Project. At the time of writing, gold, and multi-element assays from three of six holes completed have been returned in full. Significant results from these early holes are highly encouraging and include, but are not limited to Leven Star Reef intersection in MD13 ca. 32 m – 40 m that will have an oblique component. Reported intersections for MD16 are considered to have an oblique, down-dip component, and thus true widths will have reduced intersections.
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