Novo Resources (TSX.V: NVO | OTC: NSRPF)
“We are delighted to reach this option-to-purchase/joint venture and share swap agreement with GBM Resources,” said Dr. Quinton Hennigh, Novo’s president and chairman. “The Malmsbury district hosts one of the closest geologic analogues to the high-grade Fosterville epizonal orogenic gold deposit approximately 50 km to the north. Like Fosterville, Malmsbury is situated along the eastern margin of the Bendigo belt, displays high-level vuggy quartz vein textures, elevated antimony and high gold grades. Historic production from the main part of the Malmsbury district totaled about 90,000 ounces of gold at grades of about one ounce per tonne of gold. This transaction also provides Novo a strategic stake in GBM whose technical team has a track record of discovery. We will be eager to watch them pursue exploration at their other high quality targets.”
Investor Relations:
Leo Karabelas, VP of Corporate Communications
Telephone: (416) 543-3120
E-mail: leo@novoresources.com
