Category: Precious Metals

VANCOUVER, British Columbia, Nov. 01, 2018 (GLOBE NEWSWIRE) — Columbus Gold Corp. (CGT: TSX, CGTFF: OTCQX) (“Columbus”) is pleased to provide a permitting update for the Montagne d’Or gold mine project located in French Guiana, France.

In September 2018, the French National Commission of Public Debate (the “CNDP”) published a report (the “Report”) on the public hearings carried-out for the Montagne d’Or gold project, which concluded in the summer of 2018 (news release dated August 7, 2018). The hearings and the Report were successfully completed over a 5-month period as scheduled.

The Report consolidates the feedback gathered from 14 public meetings, which attracted approximately 1,500 participants, and an online platform that had 5,928 visits and generated 232 opinions, 211 questions, 184 comments, and 39 contributions.

The Report recommends that the Montagne d’Or joint venture (Columbus 44.99% and Nordgold 55.01%) consider the following in order to pursue development of the Montagne d’Or project:

• Do not underestimate cultural values;
• Improve transparency;
• Be more precise on the definition of risk management measures;
• Test wherever possible, several options on sensitive elements of the project;
• Take into consideration recommendations of the French Geological and Mining Research Bureau (BRGM);
• Prioritize options that minimize risks and impacts, to help ensure that Montagne d’Or will be a responsible mining operation.

Pursuant to the procedures established by the CNDP, the Montagne d’Or joint venture has until December 7, 2018 to declare in the Journal Officiel (a government publication) if it intends to proceed with permit applications to develop the Montagne d’Or gold project; taking into account the CNDP’s above recommendations, and any modifications to the development plan resulting thereunder.

In addition, in July 2018 the French government formed a committee to assess the social and economic benefits, and the impacts, of the development of the gold mining industry in French Guiana, taking into consideration in particular Montagne d’Or, the most advanced large gold project in French Guiana.  The committee is a joint ministerial task-force under the direction of the French Ministers of Environment, of Economy and Finance, and of Overseas Territories.  Columbus and the Montagne d’Or joint venture are working closely with this task-force, which is expected to deliver its conclusions in a report to the relevant ministers in December 2018.

ABOUT COLUMBUS GOLD

Columbus is French Guiana’s leading gold exploration and development company.  Columbus holds a major interest in the world-class Montagne d’Or gold deposit.  A feasibility study for Montagne d’Or was filed in May 2017, and the permitting process is currently underway.  Columbus is also earning into the Maripa gold exploration project where past drilling has returned excellent near surface results, including 36 meters of 4.3 g/t gold.

ON BEHALF OF THE BOARD,

Robert F. Giustra
Chairman

For more information contact:

Investor Relations
(604) 634-0970 or
1-888-818-1364
info@columbusgold.com

Certain statements and information contained in this press release constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which are referred to collectively as “forward-looking statements”. The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.  Forward-looking statements in this and other press releases include but are not limited to statements and information regarding: its plans, or modifications thereunder, to develop Montagne d’Or ; the construction and development plans for the Montagne d’Or gold mine, including anticipated timing thereof; the satisfaction of additional requirements to the construction of the Montagne d’Or gold mine, including but not limited to, the submission and processing of mine permit applications; the delivery of a concluding report from the French joint ministerial task-force for Montagne d’Or; and the earning into of the Maripa gold exploration project.  Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Some of the known risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements are described in the sections entitled “Risk Factors” in the Annual Information Form of Columbus Gold Corp., available on SEDAR under Columbus’ profile at www.sedar.com.  Actual results and future events could differ materially from those anticipated in such statements. Columbus undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

VANCOUVER, British Columbia, Oct. 30, 2018 (GLOBE NEWSWIRE) — Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to discuss recent findings and exploration plans at its recently acquired Egina gold project, Western Australia.

Like Novo’s Karratha gold project, Egina is an important part of the Pilbara conglomerate gold province. Not only does Egina have potential to host significant deposits of gold-bearing conglomerates, weathering and erosion appear to have liberated considerable gold from these rocks and redeposited it into extensive surficial lag gravel deposits blanketing much of the area. Gold-bearing gravels can easily be explored as described in Novo’s aggressive exploration program described below.

Egina Exploration Model Highlights:

• Egina lies in the heart of the Pilbara conglomerate gold province approximately 120 km east of Novo’s Karratha gold project (please refer to Figure 1). Upon recognizing its conglomerate gold potential, Novo began applying for multiple exploration licenses covering much of the core area beginning in 2017. On September 17, 2018, Novo announced two transactions; the acquisition of private company Farno-McMahon Pty Ltd (“FM”), and a joint venture with ASX-listed Pioneer Resources Limited, increasing Novo’s Egina project to 948 square km. Importantly, purchase of FM included granted mining leases M47/560 and M47/561 covering approximately 11.8 square km of key target areas.
• Three styles of gold mineralization are recognized at Egina: 1) basal Fortescue gold-bearing conglomerates like those at Novo’s Karratha gold project, 2) gold-bearing, deflationary and/or marine lag gravels blanketing an erosional terrace covering most of the Egina area, and 3) lode gold mineralization hosted by the underlying Mallina Basin assemblage.
• Given the large size of the target, Novo considers the gold-bearing terrace lag gravels to be the most important immediate target at Egina. Gravel deposits form a continuous sheet across much of the terrace, and their origin is depicted in Figure 1. Where they have been trenched, they are up to 1.5 meters thick and weakly consolidated. Lag gravels rest on weathered Mallina Group sedimentary rocks, and up to 1 meter of soil and sand overlie them.
• Novo has discovered considerable cobbles and boulders of weathered Fortescue-type conglomerate within the lag gravels. Particulate gold has been observed in the matrix of some conglomerate boulders. A few gold nuggets that have been recovered from trenches at Egina remain partially encased in ferruginous rock matrix, some of which display a distinctive melon seed shape similar to nuggets observed at Karratha. Remarkably, halos of fine-grained gold are evident in the residual rock matrix surrounding these nuggets, again strikingly similar to that observed around in situnuggets at Karratha. Novo firmly believes much of the gold in lag gravels is derived from geologically recent weathering and erosion of Fortescue-type conglomerates that once blanketed this area.
• Most gold found at Egina is coarse and water-worn. During the 2018 exploration season, FM focused entirely on metal detecting nuggets within a series of trenches covering an area roughly 500 x 200 meters. Detected nuggets range in size from approximately 0.5-104 grams. As a test for the presence of fine-grained gold, Novo recently assessed gravel from these trenches. Significant numbers of small nuggets up to 4 mm across were recovered along with appreciable very fine gold particles down to approximately 10 microns in size (please refer to Figure 1). Novo finds the presence of fine gold particularly encouraging and believes it may be derived, in part, from weathering of halo gold associated with Fortescue-type nuggets.

2018 Exploration Plans

°  Systematic sampling of
•  largely unworked areas of lag gravel within M47/560
•  gravels already excavated but not processed by FM that have shown appreciable fine gold in preliminary testing (please refer to Figure 1)
°  Geophysical testwork including ground penetrating radar and ground magnetics to define terrace and channel geometries
°  Trench mapping and survey pickup to delineate gravel horizons for input into a 3D model
°  Conduct broader-spaced program of alluvial sampling for fine gold and develop coarse gold assessment strategy
°  Assess Novo’s IGR3000 alluvial processing plant for suitability and engineering modifications ahead of bulk sampling of the terrace gravels in 2019
°  Regional 1:2,500 scale mapping to define areas of conglomerate gold and basement gold potential

Novo plans to engage the Kariyarra and Mugarinya Traditional Owner Groups to seek permission to explore on Novo-controlled exploration licenses surrounding M47/560. Environmental regulators will also be engaged regarding permitting requirements for the project, laying the groundwork for Novo to conduct test mining of lag gravels on mining lease M47/560 at Egina beginning after the rainy season, approximately second quarter of calendar 2019.

“Egina is a very special gold-property,” commented Dr. Quinton Hennigh, Chairman and President of Novo Resources Corp. “Upon recognizing the potential for conglomerate gold here, we diligently assembled a large land position covering the area. What really caught our attention was the presence of appreciable gold in the lag gravels covering the vast flat terrace system covering the region. Our research over the past few months has led to compelling evidence this gold is likely derived from basal Fortescue conglomerates like those 120 km west at Karratha. We find this particularly intriguing because it suggests there was, in recent geologic time, a potentially large source of detrital gold that has been weathered, eroded, then reconstituted into lag gravels. These unconsolidated gravels are situated within a meter of surface allowing for easy exploration and assessment.”

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 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.

Forward-looking information 
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. 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 and the issuance of necessary approvals and permits by regulatory authorities.

(Figure 1 – Images discussing the Egina gold project.

Location Map: Egina lies approximately 120 km east of Novo’s Karratha conglomerate gold project and 200 km northwest of Novo’s Beaton’s Creek conglomerate gold project.

Egina Flats: A vast erosional terrace, partly terrestrial and partly marine in origin, covers most of the country around Egina. This terrace region has yielded alluvial gold since the 1880’s. Novo believes this gold was derived from weathering and erosion of Fortescue gold-bearing conglomerates that blanketed this area until recent geologic time.

Fortescue Basin: Remnants of Fortescue Group gold-bearing conglomerates and Mt Roe basalt cap small mesas scattered across southern portions of the Egina area.

Schematic Section through Egina: As Fortescue Group rocks have been weathered and eroded away, a residual lag gravel has formed containing gold likely derived from them. Wind blown sand and soil cover the lag gravel in most areas. Lode gold deposits in underlying Mallina Basin sedimentary rocks may have also yielded some gold.

Lag Gravel: Lag gravels are unconsolidated and easily excavated (top photo). The lag gravel horizon is up to 1.5 meters thick in areas that have recently been trenched (bottom photo). Weathered Mallina Group sedimentary rocks form the platform underneath and wind blown sand and soil rest above the lag gravel.

Conglomerate: Novo geologists have found numerous cobbles and boulders of Fortescue-type conglomerate in lag gravels at Egina (top and bottom left photos). These rocks often display rounded patches of iron oxides after weathered pyrite pebbles. Particles of gold have been observed in the matrix of conglomerate boulders (center right photo). A few gold nuggets that have been recovered from trenches at Egina remain partially encased in ferruginous rock matrix (lower right photo). These nuggets display a distinctive melon seed shape similar to nuggets observed at Karratha. Halos of fine-grained gold are evident in the residual rock matrix surrounding these nuggets, again strikingly similar to that observed around in-situ nuggets at Karratha. Novo believes much of the gold in lag gravels is derived from geologically recent weathering and erosion of Fortescue-type conglomerates that once blanketed this area.

Egina Gold: A comparison of a melon seed type nugget from Comet Well to a similar one eroded from Fortescue conglomerates at Egina (upper left photo). Recently detected nuggets from Egina range in size from approximately 0.5-104 grams (upper right photo). Novo recently assessed a test sample of gravel from these trenches. Significant numbers of small nuggets up to 4 mm across were recovered along with appreciable very fine gold particles down to approximately 10 microns in size (bottom photo). Novo believes fine-grained gold may be derived, in part, from weathering of halo gold associated with Fortescue-type nuggets. Please note that gold mineralization in the above figure is not necessarily representative of the mineralization hosted on the Egina property.)

A PDF accompanying this announcement is available at: http://resource.globenewswire.com/Resource/Download/6befe6d0-5029-4963-8b06-fddb714bd73b

TORONTO, Oct. 30, 2018 (GLOBE NEWSWIRE) — Gowest Gold Ltd. (“Gowest” or the “Company”) (GWA.V) is pleased to announce that it has entered into a definitive Custom Milling Agreement (“the Agreement”) with QMX Gold Corporation (“QMX”) pursuant to which QMX will process material from the Company’s Bradshaw Gold Deposit (“Bradshaw”) at its  Aurbel Mill (the “Mill”) located in Val d’Or, Quebec.

Pursuant to the Agreement, Gowest will be obligated to fund certain upgrade permits and capital expenditures necessary to use the Mill to process Bradshaw material as part of its bulk sample and pre-production program, followed by production at Bradshaw.  Assuming all necessary permits are received and upgrades are performed, the Agreement will have a four (4) year term with an option to extend. Gowest has already stockpiled over 28,000 tonnes of development material on surface in preparation for ore-sorting. (See Gowest news release dated April 16, 2018.) The Company intends to truck sorted mineralized material to the Mill for toll milling into a high-grade gold concentrate. Gowest will then ship the gold concentrate to the Humon Smelter, Shandong Province China (see Gowest news release dated February 14, 2018) for final processing and sale.

With the execution of the definitive agreement, QMX and Gowest will immediately form a Technical Committee made up of individuals from both parties that will oversee the application and receipt of necessary permits required by the Province of Quebec to process third party material and start up of the Mill.  At this time, it is expected that processing will begin mid-2019.  In conjunction with preparing the Mill for start up, the Company intends to crush and sort the material on surface at the Bradshaw site, continue the infill drill program and continue preparations for underground mining.  Gowest will provide updates on its progress and timing as information becomes available.

Gowest President & CEO, Greg Romain said, “We are very pleased to have reached this agreement with QMX, which represents a vital milestone in our development of Bradshaw and in our goal of advancing it into a commercial gold mine.”  Mr. Romain added, “The termination of the previously executed agreement for toll milling prevented the Company from moving the project into the next phase of mining and financing. Now that we have closed the loop, we will be able to finalize discussions on completing the necessary funding of the project.”

Qualified Person

The technical information in this news release has been reviewed and approved by Mr. Jeremy Niemi, P.Geo., Gowest’s Director of Exploration, who is the Qualified Person for the technical information in this news release under National Instrument 43‐101 standards.

About Gowest

Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Corporation’s North Timmins Gold Project (NTGP). Gowest is exploring additional gold targets on its +100-square‐kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp. Currently, Bradshaw contains a National Instrument 43-101 Indicated Resource estimated at 2.1 million tonnes (“t”) grading 6.19 grams per tonne gold (g/t Au) containing 422 thousand ounces (oz) Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the Pre-Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Mineral Reserves (Mineral Resources are inclusive of Mineral Reserves) in the probable category, using a 3 g/t Au cut-off and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.

Forward-Looking Statements

This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.  Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

For further information please contact:

Greg Romain	Greg Taylor
President & CEO	Investor Relations
Tel: (416) 363-1210	Tel: 416 605-5120
Email: info@gowestgold.com	Email: gregt@gowestgold.com