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VANCOUVER, British Columbia, Feb. 20, 2019 (GLOBE NEWSWIRE) — Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce advancements in resource work including wireframe modeling and receipt of initial results from its bulk sampling program at the Company’s Beatons Creek project in Nullagine, WA. Final bulk sample assays are expected soon at which time work on a new resource model will be completed. Novo anticipates announcing a new resource for Beatons Creek around the end of the first quarter, 2019.

In the Company’s news release dated October 10, 2018, Novo announced a global resource including 345 Koz Au (4.594 Mt @ 2.3 gpt Au) in the measured and indicated categories and 322 Koz Au (3.790 Mt @ 2.6 gpt Au) in the inferred category at Beatons Creek.  Reference should be made to the technical report entitled “NI 43-101 Technical Report Resource Update, Beatons Creek Gold Project, Pilbara Region, Australia” issued on November 20, 2018, which was prepared for Novo by Leonel Lopez (AIPG- Geol. Eng. QP, SME-RM) of Tetra Tech, Golden, Colorado. This technical report is available under the Company’s profile on the SEDAR website at www.sedar.com (filing date: November 21, 2018) and on the Company’s website at www.novoresources.com. Since that time, Novo has completed considerable additional work including diamond drilling, downhole imaging of reverse circulation drill holes and bulk sampling. Results to date include:

• An expanded wireframe model (Figure 1) constructed utilizing high-resolution data gathered from detailed diamond core logging and visual/acoustical imaging of reverse circulation drill holes. Such high-quality data allows for greater confidence in interpreting continuity of gold-bearing conglomerate beds from one hole to the next while also allowing for tighter constraint of the upper and lower boundaries of each bed.
• Better domain definition than utilized in previous models. Diamond core holes, often drilled at an angle, enable discernment of fault zones thus helping establish well-defined domains within the model.
• Return of assays from 45 bulk samples (Please see Table 1 below). Bulk samples, each weighing approximately 2 tonnes, were collected from outcropping areas across the project (Figure 2, Figure 3, and Figure 4).  Assays from these 45 samples range between 0.49 and 6.16 gpt Au and display a weighted mean value of 2.55 gpt Au. Results from another 20 bulk samples are awaited. Bulk sample data are expected to help verify resource grades in the updated resource model.

Table 1 – Calculated Head Grades for 45 Bulk Samples from Beatons Creek:

In addition to results discussed above, Novo personnel collected 50-kg bulk samples from long, continuous channels cut across subordinate conglomerate units occurring between the principal targeted conglomerate beds as part of an effort to determine the gold grade of these layers. Should the lower-grade subordinate conglomerate assays yield positive results, such rock layers may become part of the overall resource at Beatons Creek.

“We are eager to receive final assays and complete our new resource model for Beatons Creek,” commented Dr. Quinton Hennigh, President and Chairman of Novo Resources. “This new resource will be the culmination of a long, iterative process whereby we refined our geologic understanding as well as our bulk sampling techniques to better tackle this layered, coarse-gold deposit. It will establish a blueprint for how to approach such unusual deposits thus unlocking their economic potential.”

Bulk Sample Processing

Novo staff collected bulk samples discussed in this news release. Each sample weighs approximately 2 tonnes. Bulk samples were submitted to SGS Minerals in Perth, Australia. Processing encompasses coarse crushing and screening, followed by impact milling and screening, then processing through a gravity concentrator. Concentrates are analyzed in the entirety whereas tails are split and analyzed. A head grade is calculated based upon the gold recovered from each of sample streams (Figure 5).

Results presented here are preliminary results. Various tails splits are undergoing further assays as a matter of checks. Final assays including all sub-splits will be presented in their entirety upon receipt.

Dr. Quinton Hennigh, P. Geo., the Company’s, President and Chairman and a qualified person as defined by National Instrument 43-101, has approved the geological content of this news release. Dr. Simon Dominy, FAusIMM (CP), a consultant geometallurgist to the Company and a qualified person as defined by National Instrument 43-101, has approved the processing and bulk sample grade content of this news release.

About Novo Resources Corp.

Novo’s focus is to explore and develop gold projects in the Pilbara region of Western Australia, and Novo has built up a significant land package covering approximately 12,000 sq km with varying ownership interests. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com

On Behalf of the Board of Directors,

Novo Resources Corp.

“Quinton Hennigh”
Quinton Hennigh
President and Chairman

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Montreal, Quebec–(Newsfile Corp. – February 20, 2019) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“)has added $1.9M to its treasury after receiving its full 2017 tax credit refund from Revenu Québec. An upcoming winter 2019 drill program will test refined higher-grade targets generated from recently reported 3D modeling work. Mapping and gold deportment work will continue through the summer of 2019. A new resource update is expected in late Q1 and the Company plans to begin a Preliminary Economic Assessment (“PEA”) in late 2019.
The Company has designed a 10,000 metre program and plans to drill a minimum of 5,000 metres this winter focused on the following targets (see Figure 1).

• Extensions of higher-grade mineralised bodies within the Douay resource area, particularly at the geologically similar (intrusive-hosted and contact style) Nika and Porphyry Zones: DO-18-218 (azimuth 002, dip -46) intersected 50m of 1.77 g/t Au starting at 214m in the Nika Zone, which remains open to surface and to depth. In the Porphyry Zone, DO-18-216 (azimuth 341, dip -49) returned 21m of 7.87 g/t Au starting at 303m and DO-18-247 (azimuth 360, dip -65) gave 21m of 3.49 g/t Au starting at 275m; these two holes were collared about 1.3km apart and mineralisation is also open in several directions.
• Depth extensions at Douay West (target depth about 530m vertical), as well as at the geologically similar 531 Zone (target depth about 400m vertical); there has been little drilling since 1993 at the 531 Zone (1992 drill-hole 70531-2 (azimuth 360, dip -65) intersected 55.7m of 2.6 g/t Au from 313m), and only limited drilling since 2014 at Douay West.
• Exploration outside the resource area, where several intervals of high-grade (up to 17.5 g/t Au over 1.5m) contact-style mineralisation similar to that at the Porphyry Zone was intersected in a historical hole (Figure 1).

Click here to watch brief 3D video highlighting proposed drill-holes for the 2019 campaign.
Disclosure notes: Assays listed above are uncut and down-the-hole lengths, with true widths approximately 90% of down-the-hole lengths. Intercept depths are reported as vertical depth from surface.
Matthew Hornor, Maple Gold’s President and CEO, commented: “We have ranked and prioritized all of our drill targets and with more than $4M in the treasury we are now in position to test top priority drill targets, while concurrently working with RPA on our new resource estimate for Douay.”
Hornor added, “With the support of our strong shareholder base and an improving gold environment, we feel that it is of utmost importance to continue building value at the project with a highly-focused drilling campaign. Our winter drilling and other exploration work in 2019 will contribute to the first ever deposit-wide PEA at the project, which we anticipate starting near year-end.”
Plans for winter 2019 include high-priority drilling and geophysics; the Company has outlined ~10,000 metres of top-priority drilling to test numerous targets on the Douay property at Douay West, Nika, Porphyry and 531 Zones. A minimum of 5,000 metres will be drilled during the 2019 winter campaign, with final meterage subject to market and weather conditions. The Company also plans to conduct limited metallurgical work and further refine the 3D model in support of the planned PEA.
Drill bids from prospective contractors are currently being evaluated and the Company anticipates selecting a contractor very shortly. Concurrent with the winter drilling, a ground geophysical program is planned to test one of the targets generated during the summer 2018 mapping program (see press release of November 14, 2018). New mineralised zones defined at Nika, and areas with higher-than-expected grade intercepts at the Porphyry Zone obtained during 2018 drilling, both offer significant opportunities to add to the deposit resource base at higher-than-deposit-average grades. Drilling at the Douay West and 531 zones, where mostly higher-grade intercepts were obtained in historical holes, is meant to test possible depth extensions of the mineralisation as well as to better understand the structural controls for these complex areas.

Figure 1: Proposed winter 2019 holes in a 2D representation of a 3D model, also showing syenite and higher-grade gold mineralisation. Drill-hole locations for the full ~10,000m of drilling are shown, with a minimum of 5,000m for phase 1.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3077/42940_75430779a4dfdaa2_001full.jpg
Note close spatial association of higher-grade gold zones with syenite bodies in Figure 1, with the syenite bodies forming a dense dyke swarm in the resource area, but also extending well beyond it notably north and south of the Porphyry Zone. One of these areas (Figure 1: Exploration Target) will be tested in winter 2019 drilling; a 2013 drill-hole in the Exploration Target gave several intercepts ranging from 2.1 to 17.5 g/t Au, that have not been followed up. Observations from recent relogging indicate that gold in this hole is associated with a contact style of mineralisation that is very similar to that observed in the Porphyry Zone – discovery potential in this area is considered excellent.

Figure 2: EW long section through Nika Zone
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3077/42940_75430779a4dfdaa2_002full.jpg
The above figure shows several high-priority 2019 drill-hole traces designed to test depth extensions of DO-18-218 and DO-12-05. Note subparallel orientation of several segments of higher-grade mineralisation, with the trace of Douay faults – these and other structures as well as syenite intrusion morphology and their contact zones are important mineralisation controls. There is currently no conceptual pit in the Nika Zone, located in the NW Gap area between Douay West, Northwest and Porphyry Zones; the definition of Nika mineralisation is expected to represent a step towards potentially tying these three zones together.
Corporate note
The Company announces that subject to the approval of the TSX Venture Exchange, the Company has agreed to issue 568,182 common shares in the capital of the Company at an issue price of $0.11 in settlement of certain outstanding obligations. Upon issuance, such shares will be subject to a four-month hold period.
Qualified Person
The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Fred Speidel, M. Sc, P. Geo., Vice-President Exploration, of Maple Gold. Mr. Speidel is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Speidel has verified the data related to the exploration information disclosed in this news release through his direct participation in the work.
Quality Assurance (QA) and Quality Control (QC)
Maple Gold implements strict Quality Assurance (“QA”) and Quality Control (“QC”) protocols at Douay covering the planning and placing of drill holes in the field; drilling and retrieving the NQ-sized drill core; drill-hole surveying; core transport to the Douay Camp; core logging by qualified personnel; sampling and bagging of core for analysis; transport of core from site to the analytical laboratory; sample preparation for assaying; and analysis, recording and final statistical vetting of results. For a complete description of protocols, please visit the Company’s QA/QC page on the website at: http://maplegoldmines.com/index.php/en/projects/qa-qc-qp-statement
About Maple Gold
Maple Gold is an advanced gold exploration and development company focused on defining a district-scale gold project in one of the world’s premier mining jurisdictions. The Company’s ~392 km² Douay Gold Project is located along the Casa Berardi Deformation Zone (55 km of strike) within the prolific Abitibi Greenstone Belt in northern Quebec, Canada. The Project benefits from excellent infrastructure and has an established gold resource³ that remains open in multiple directions. For more information please visit www.maplegoldmines.com.
ON BEHALF OF MAPLE GOLD MINES LTD.
“Matthew Hornor”
B. Matthew Hornor, President & CEO
For Further Information Please Contact: 

Mr. Joness Lang
VP, Corporate Development
Cell: 778.686.6836
Email: jlang@maplegoldmines.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
Forward Looking Statements:
This news release contains “forward-looking information” and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada, including statements about the prospective mineral potential of the Porphyry Zone, the potential for significant mineralisation from other drilling in the referenced drill program and the completion of the drill program. Forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future events. Actual events or results could differ materially from the Company’s expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding timing and completion of the private placement. When used herein, words such as “anticipate”, “will”, “intend” and similar expressions are intended to identify forward-looking statements.
Forward-looking statements are based on certain estimates, expectations, analysis and opinions that management believed reasonable at the time they were made or in certain cases, on third party expert opinions. Such forward-looking statements involve known and unknown risks, and uncertainties and other factors that may cause our actual events, results, performance or achievements to be materially different from any future events, results, performance, or achievements expressed or implied by such forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.maplegoldmines.com. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42940

TORONTO , Feb. 20, 2019 /CNW/ – Anaconda Mining Inc. (“Anaconda” or the “Company”) (ANX.TO) (ANXGF) is pleased to announce the results of a 3,434-metre drill program that began in November, 2018 and included drilling around the Pine Cove mine (Exhibit A and B) and the Stog’er Tight mine (Exhibit C) (“Pine Cove” and “Stog’er Tight” respectively) at the Company’s Point Rousse Project in Newfoundland (“Point Rousse”). A total of 33 drill holes (the “Drill Program”) successfully infilled and extended mineralization near the margins of the existing pit outlines at both mines, as part of an on-going evaluation of potential pit expansions at both Pine Cove and Stog’er Tight. Anaconda extended the strike of the shallow, southern end of the Pine Cove Deposit, by approximately 100 metres, and extended mineralization in the Northwest Extension of the Pine Cove Deposit by 75 metres. At Stog’er Tight, the Company confirmed mineralization, including visible gold occurrences, adjacent to the ultimate pit design, down dip of the current mineral reserves.

Highlights from the Drill Program include:

Stog’er Tight:

• 6.45 grams per tonne (“g/t”) gold over 5.0 metres (65.0 to 70.0 metres) in hole BN-18-288;
• 1.89 g/t gold over 12.0 metres (64.0 to 76.0 metres) in hole BN-18-290; and
• 2.46 g/t gold over 8.0 metres (79.8 to 87.8 metres) in hole BN-18-292.

Pine Cove:

• 2.50 g/t gold over 9.0 metres (17.0 to 26.0 metres) in hole PC-18-271;
• 1.73 g/t gold over 9.0 metres (5.0 to 14.0 metres) in hole PC-18-281; and
• 1.50 g/t gold over 5.0 metre (10.0 to 15.0 metres) in hole PC-18-269.

“We are very pleased with the step-out drilling done at Pine Cove and Stog’er Tight. Based on historical drilling and the current drill results, we see the potential to continue mining on the southern and western side of the Pine Cove pit without compromising our tailings storage activities. In addition, we are encouraged by the possibility of adding more ore on the northern portion of the Stog’er Tight Deposit. In the coming weeks, we will incorporate these drill results into our resource models and determine whether we can extend the mining operations at Pine Cove and Stog’er Tight beyond our existing mineral resource plan.”

~ Dustin Angelo , President and CEO, Anaconda Mining Inc.

Selected highlights from previous drilling in contiguous mineralized zones within the unmined portion of the Pine Cove Deposit include:

• 8.75 g/t gold over 6.5 metres (15.5 to 22.0 metres) in hole PC-90-078;
• 2.66 g/t gold over 15.9 metres (6.0 to 22.0 metres) in hole PC-15-257;
• 2.59 g/t gold over 15.9 metres (41.6 to 57.5 metres) in hole PC-90-036;
• 2.00 g/t gold over 17.2 metres (22.4 to 39.6 metres) in hole PC-04-133; and 
• 6.11 g/t gold over 5.0 metres (31.3 to 36.3 metres) in hole PC-92-107.

A table of selected composited assays from the Drill Program is presented below.

In addition to the drilling adjacent to the Pine Cove mine, the Drill Program included 1,812 metres in 12 diamond drill holes (AN-18-06 to 17) to explore the area between the Pine Cove mine and the Anoroc Prospect located approximately 800 metres southwest of the Pine Cove Deposit. Historic channel sampling and several historic diamond drill holes at Anoroc, including 9.92 g/t gold over 2.0 metres in hole AN-90-01, had previously intersected host rocks, alteration and mineralization similar in style and character to those of the Pine Cove Deposit. Drilling at the Anoroc Prospect intersected Pine Cove-like alteration and, locally, low grade mineralization, including 1.11 g/t gold over 5.5 metres (AN-18-13), but did not encounter significant assays to justify further exploration work at this time.

Table of selected composited assays from drill holes reported in this press release:

This news release has been reviewed and approved by Paul McNeill , P. Geo., VP Exploration with Anaconda Mining Inc., a “Qualified Person”, under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

The company would like to thank the Department of Natural Resources, Government of Newfoundland and Labrador to their assistance in portions of the 2018 exploration drill programs through the support of the Junior Exploration Assistance Program.

All samples and the resultant composites referred to in this release are collected using QA/QC protocols including the regular insertion of standards and blanks within the sample batch for analysis and check assays of select samples. All samples quoted in this release were analyzed at Eastern Analytical Ltd. in Springdale, NL , for Au by fire assay (30 g) with an AA finish.

Reported mineralized intervals are measured from core lengths. Intervals are estimated to be approximately 80-100% of true widths.

A version of this press release will be available in French on Anaconda’s website (www.anacondamining.com) in two to three business days.

ABOUT ANACONDA

Anaconda Mining is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia . The Company operates the Point Rousse Project located in the Baie Verte Mining District in Newfoundland , comprised of the Stog’er Tight Mine, the Pine Cove open pit mine, the Argyle Mineral Resource, the fully-permitted Pine Cove Mill and tailings facility, and approximately 9,150 hectares of prospective gold-bearing property. Anaconda is also developing the Goldboro Gold Project in Nova Scotia , a high-grade Mineral Resource, subject to a 2018 a preliminary economic assessment which demonstrates strong project economics. The Company also has a wholly owned exploration company that is solely focused on early stage exploration in Newfoundland and New Brunswick .

FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking information” within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in the annual information form for the fiscal year ended December 31, 2017 , available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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SOURCE Anaconda Mining Inc.

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