- A total of 107.88 grams of raw gold were recovered from 95 cubic metres of gravel. Fine gold and small nuggets recovered by Falcon concentrators account for 18.55 grams of the total. A further 49.16 grams were captured in the discharge sluice. One large nugget weighing 40.17 grams was recovered from the oversize pile using a metal detector. X-ray fluorescence analysis of gold nuggets indicates gold purities ranging from 91-93% with silver making up most of the balance.
- Assays of tailings are in process.
- Dominantly coarse gold suggests simple processing techniques can likely be employed during potential future large-scale gold recovery at Egina.
- Very little clay is present resulting in short scrubbing times and short settling times to clarify return water.
- Novo plans an aggressive program of collecting and treating similar-sized bulk samples in 2019 with the intent of establishing a first ever resource at Egina. Novo also has plans for large-scale test sampling. As described in the Company’s news release dated October 30, 2018, Novo thinks lag gravels mantling the vast erosional terrace at Egina could host a significant gold deposit. The shallow nature of these gravels makes them a particularly attractive target.
“The results of our first bulk sample at Egina are very encouraging.” commented Mr. Rob Humphryson, CEO and Director of the Company. “This 95 cubic metre sample was collected from a gravel horizon between 1m and 3m below surface, requiring no drilling, blasting or crushing. The current geologic model has not constrained the gravel horizon in any direction or for any distance across the erosional terrace. In addition to ongoing bulk sampling during 2019 to confirm gold concentrations on a broader scale, exploration field work will be directed towards understanding the lateral extent and continuity of the system. We are very excited about the possibility for this system to be laterally expansive, with obvious connotations for a future large scale and low cost mining operation”
The initial mineral sorting concentrates have been analyzed via Photon assay and are subject to QA/QC and other assay techniques that are currently being performed by MinAnalytical Laboratory Services Australia in Perth, Australia.
PhotonAssay provides a non-destructive chemistry-free approach to gold assay. It bombards samples with high-energy X-rays, causing short-lived excitation of atomic nuclei of targeted elements (e.g., gold). These excited nuclei give off a characteristic signature that can be detected and used to calculate concentration. The analysis is completely non-destructive, and all samples have been retained for further analysis
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.
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 firstname.lastname@example.org
On Behalf of the Board of Directors,
Novo Resources Corp.
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.
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, statements as to planned exploration activities and the expected timing of the receipt of 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, customary risks of the mineral resource industry as well as the performance of services by third parties.