HIGHLIGHTS

  • Diamond drilling at NRV06 successfully intersected zones over several metres of disseminated to stringer style Ni and Cu sulphide (pentlandite and chalcopyrite) in the Andover Intrusion (assays pending), with spot assaying using a pXRF of up to 0.95% Ni and 0.25% Cu.
  • Drilling at the Morto Lago target delivered key intercepts (0.3 g/t Au cut-off) of:
    • 3 m @ 3.35 g/t Au from 9 m in KC329;
    • 4 m @ 6.74 g/t Au from 8 m (4 m composite) in KC365; and
    • 5 m @ 1.73 g/t Au from 15 m including 2 m @ 4.06 g/t Au from 18 m in KC369.
  • Results from drilling at the Milburn FLEM anomaly, interpreted up dip of the Artemis Chapman Prospect1, include:
    • 13 m @ 0.39% Cu, 0.19% Ni and 0.013% Co from 92 m (KC354), including 3 m @ 0.59% Cu, 0.34% Ni and 0.021% Co from 94 m;
    • 18 m @ 0.34% Cu, 0.24% Ni and 0.015% Co from 67 m (KC355), including 6 m @ 0.46% Cu, 0.32% Ni and 0.016% Co from 67 m;
    • 5 m @ 0.65% Cu, 0.40% Ni and 0.02% Co from 12 m (KC356); and
    • 19 m @ 0.35% Cu, 0.18% Ni and 0.012% Co from 60 m (KC360), including 8 m @ 0.48% Cu, 0.24% Ni and 0.014% Co from 70 m.
  • These promising assay results are reported from Novo’s drilling program in the Karratha District, where Novo is exploring for high-grade Au (Cu-Co) adjacent to Artemis Resources Limited’s (“Artemis”) (ASX:ARV) Carlow Castle Au (Cu-Co) discovery (“Carlow Castle”) and Ni-Cu-Co adjacent to Azure Minerals Limited’s (“Azure”) (ASX:AZS) Andover Ni-Cu-Co discovery (“Andover”).
  • Novo is currently conducting downhole EM (“DHEM”) on Ni-Cu-Co targets at the Southcourt, NRV06, and Milburn Prospects.

Commenting on the precious and base metal results generated in the Karratha District, Mr. Mike Spreadborough, Novo’s Executive Co-Chairman, Director, and acting Chief Executive Officer said,

“This set of assays from our widespread drill program in the Karratha District has generated exciting results. We are fortunate to control a dominant landholding in the Pilbara, which comprises a strong pipeline of exploration targets and we are committed to investing in the drill bit as we strive to deliver discovery success and build long-term shareholder value.”

“The high-grade results from the Morto Lago area and positive results from the Milburn area provide us with a compelling platform to continue our aggressive approach to exploration in 2023. We await the next set of assays from 47k and 48K, Sullam, NRV06, Southcourt and Morto Lago North and will also complete downhole EM surveys which will generate the next set of drill targets.”

VANCOUVER, British Columbia, Dec. 09, 2022 (GLOBE NEWSWIRE) — Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to provide an exploration update on the Company’s drilling program in the Karratha District, located within Novo’s 10,500 sq km Pilbara exploration portfolio (Figure 1).

Figure 1: Novo’s Pilbara tenements and project location.
https://www.globenewswire.com/NewsRoom/AttachmentNg/eefa8df7-dfc3-4ef0-bac2-643dd0bd86e1

A key focus of Novo’s gold and battery metals exploration strategy2 is the systematic and rapid progression of drilling advanced targets in the Karratha District, particularly within the Purdy’s North area (Figure 2), located adjacent to Azure’s Andover discovery and Artemis’s Carlow Castle discovery.

Novo has completed a first-pass exploration drilling program in the Karratha District, focused on testing numerous prospects for structurally controlled high-grade Au (Cu-Co) mineralization, and magmatic Ni-Cu-Co mineralization in the Andover Intrusion and associated mafic-ultramafic intrusions. Results referred to in this news release are not necessarily representative of mineralization throughout the Purdy’s North project.

101 RC drill holes (KC312 to 407) for 12,408 m and 3 diamond drill holes for 556.2 m (KD902 to 904) have been completed. Drilling tested the following key prospects:

  • Au targets at Morto Lago, 47K and 48K; and
  • Ni-Cu-Co targets at Southcourt, NRV06, Milburn and Sullam.

Diamond drilling successfully intersected zones over several metres of disseminated to stringer style Ni and Cu sulphides, in ultramafic rocks of the Andover Intrusion at NRV06, with assays pending. Portable XRF assaying (pXRF) indicated that pentlandite and chalcopyrite are present, with spot assays of up to 0.95% Ni and 0.25% Cu.

Figure 2: Prospect location at Purdy’s North and the Maitland/Dingo intrusive areas3.
https://www.globenewswire.com/NewsRoom/AttachmentNg/ad8d692e-a47b-4410-a647-45132217af62

Figure 3: Hole KD902 at approximately 103.52 m, showing disseminated and stringer sulphides. Spot assays of sulphide with pXRF yielded 0.79% Ni and 0.21% Cu.
https://www.globenewswire.com/NewsRoom/AttachmentNg/d6b66a9b-bcdc-41c7-885a-f09fc9eaacbb

Drilling at Morto Lago (Figure 2) included sectional traverses at 160 m spacings and holes 40 m apart. Elsewhere, reconnaissance style drilling included single hole tests or a few sections with 1 to 3 drill holes. Nineteen drill holes have been cased with 40 mm poly pipe in order to conduct DHEM with 11 loops planned, in order to test a number of targets for massive to sub-massive Ni sulphide bodies adjacent to holes already drilled. This high-priority geophysical survey is currently in progress.

Results have been received for drill holes up to KC381, with results pending for a number of areas including 47k and 48K, Sullam, NRV06 and parts of Southcourt and Morto Lago.

Results from the Morto Lago area include best intercepts (0.3 g/t Au cut-off) of:

  • 3 m @ 3.35 g/t Au from 9 m KC329;
  • 4 m @ 6.74 g/t Au from 8 m (4 m composite) in KC365; and
  • 5 m @ 1.73 g/t Au from 15 m including 2 m @ 4.06 g/t Au from 18 m in KC369

The true width of these intercepts is unknown as the target is covered by clay overburden. Refer to Table 1 in Appendix 1 below for a listing of drill results.

Results from the Milburn FLEM anomaly, interpreted to be the up dip of the Artemis Chapman Prospect1, include:

  • 13 m @ 0.39% Cu, 0.19% Ni and 0.013% Co from 92 m (KC354), including 3 m @ 0.59% Cu, 0.34% Ni and 0.021% Co from 94 m;
  • 18 m @ 0.34% Cu, 0.24% Ni and 0.015% Co from 67 m (KC355), including 6 m @ 0.46% Cu, 0.32% Ni and 0.016% Co from 67 m;
  • 5 m @ 0.65% Cu, 0.40% Ni and 0.02% Co from 12 m (KC356); and
  • 19 m @ 0.35% Cu, 0.18% Ni and 0.012% Co from 60 m (KC360), including 8 m @ 0.48% Cu, 0.24% Ni and 0.014% Co from 70 m.

These results are interpreted to be >80% true width. Refer to Table 2 and 3 in Appendix below for a listing of significant drill results.

True width intersections may reduce for gold targets once geological setting is fully understood, however current widths for nickel-copper targets are predicted to be true widths.

Figure 4: RC drill rig at the Morto Lago Prospect, in the Karratha District.
https://www.globenewswire.com/NewsRoom/AttachmentNg/e1e217fa-d6db-40e3-96d2-833f220c0976

Figure 5: Novo geologists logging diamond core at the NRV06 Prospect.
https://www.globenewswire.com/NewsRoom/AttachmentNg/cb4f1e29-dc33-4579-b457-88163dc68ec0

ANALYTIC METHODOLOGY

Drill holes targeting gold

RC drilling was sampled as either 4 m composite samples using a spear, or if visual parameters such as percentage of quartz veins or sulphide mineralization, or alteration intensity were deemed to warrant, as 1 m cone splits directly off the drill rig. Any 4 m composite samples that contain > 0.1 g/t Au mineralization on receival of results were re-submitted as 1 m cone split samples. Thus, all samples containing gold mineralization in 4 m composites, or any intervals with significant signs of potential mineralization, were assayed as cone splits. All RC chips as 1 to 4 kg samples were sent to Intertek Genalysis (“Intertek”) in Perth, Western Australia with the entire sample smart crushed to -3 mm (NVO02 prep code), with a 500 g split sample analyzed for gold using PhotonAssayTM (PHXR/AU01). QAQC protocols included insertion of a certified blank approximately every 50 samples (2 per hundred 500g coarse blank CRMS) certified standards for PhotonAssayTM Au at approximately every 50 samples and duplicate sampling (split of 4 m composite) at the rate of 4 per hundred. Further to this, Intertek inserts customized Chrysos certified standards at the rate of 2 per hundred.

Drill holes targeting Ni-Cu-Co

RC drilling was sampled as either 4 metre composite samples using a spear, or if visual parameters such as sulphide mineralization were deemed to warrant, as 1 m cone splits directly off the drill rig. All RC chips as 1 to 4 kg samples were sent to Intertek in Perth, Western Australia and were crushed and pulverized and assayed for Au, Pt and Pd by four acid digest and 50 g charge fire assay (FA50/MS) and for 48 multielement using four acid digest – MS finish (4A/MS). QAQC protocols included insertion of a certified blank approximately every 25 samples (4 per hundred, 2 of which are 500 g coarse blank CRMS and two of which are 60 g pulverised -80# CRMs), certified standards for Ni, Cu and Co approximately every 25 samples and duplicate sampling (split of 4 m composite) at the rate of 4 per hundred.

pXRF

The pXRF assay technique utilized a Niton XL5 handheld XRF machine. The Niton XL5 is calibrated daily, with 4 QAQC standards (fit for purpose including certified Ni, Cu and Co values) run concurrently, with an additional 2 standards checked per 100 readings and 4 QAQC standard assayed before the machine is shut down. pXRF is utilized as a preliminary exploration technique for base metals. Drill core samples are point analysed for 90 seconds using 4 machine filters. The pXRF is a spot reading device and has diminished precision due to grainsize effect, especially on rock samples where peak results represent a window of < 10 mm field of view. The pXRF usage on core as stated in this release, is not representative of the entire interval, rather representative of a small area of certain sulphide minerals or clusters of sulphide minerals and related wall rocks.

There were no limitations to the verification process and all relevant data was verified by a qualified person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) by reviewing analytical procedures undertaken by Intertek.

QP STATEMENT

Mr. Iain Groves (MAIG), is the qualified person, as defined under NI 43-101, responsible for, and having reviewed and approved, the technical information contained in this news release. Mr. Groves is Novo’s Exploration Manger – West Pilbara.

ABOUT NOVO

Novo explores and develops its prospective land package covering approximately 10,500 square kilometres in the Pilbara region of Western Australia, including the Beatons Creek gold project, along with two joint ventures in the Bendigo region of Victoria, Australia. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its stakeholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail [email protected].

On Behalf of the Board of Directors,

Novo Resources Corp.

Michael Spreadborough

Michael Spreadborough

Executive Co-Chairman and Acting CEO

Forward-looking information

Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, planned exploration activities across the Purdy’s North project. 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 resource industry and the risk factors identified in Novo’s management’s discussion and analysis for the nine-month period ended September 30, 2022, which is available under Novo’s profile on SEDAR at www.sedar.com. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Novo assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Novo updates any forward-looking statement(s), no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.

APPENDIX:
Table 1: Karratha Area – RC and DD drilling data – hole locations.

HOLE IDCOORDSYSEASTINGNORTHINGRLAZI GRIDDIPTYPEDEPTHLEASE
KC312MGA94_50509119.57698400.224.0180-55RC80E47/1745
KC313MGA94_50509119.97698799.322.6360-55RC84E47/1745
KC314MGA94_50509120.07698807.822.5180-55RC36E47/1745
KC315MGA94_50509119.47698599.423.2180-55RC90E47/1745
KC316MGA94_50509123.27698639.422.9180-55RC118E47/1745
KC317MGA94_50509119.87698557.023.0360-55RC108E47/1745
KC318MGA94_50509120.17698519.522.8360-55RC115E47/1745
KC319MGA94_50509118.47698598.823.2360-55RC108E47/1745
KC320MGA94_50509118.17698681.822.6360-55RC80E47/1745
KC321MGA94_50509117.57698721.122.7360-55RC90E47/1745
KC322MGA94_50509118.47698762.022.7360-55RC72E47/1745
KC323MGA94_50509118.47698481.023.2360-55RC180E47/1745
KC324MGA94_50509117.97698439.923.3360-55RC84E47/1745
KC325MGA94_50509038.77698600.523.4360-55RC78E47/1745
KC326MGA94_50509038.57698560.523.7360-55RC108E47/1745
KC327MGA94_50509039.77698519.923.5360-55RC144E47/1745
KC328MGA94_50509279.57698720.022.1360-55RC84E47/1745
KC329MGA94_50509279.57698680.322.0360-55RC78E47/1745
KC330MGA94_50509279.57698641.421.9360-55RC108E47/1745
KC331MGA94_50509279.47698597.821.9360-55RC162E47/1745
KC332MGA94_50509440.47698719.821.4360-55RC102E47/1745
KC333MGA94_50509277.17698561.222.0360-55RC102E47/1745
KC334MGA94_50509277.67698511.822.2360-55RC150E47/1745
KC335MGA94_50509440.27698680.021.5360-55RC170E47/1745
KC336MGA94_50509440.37698762.621.3360-55RC90E47/1745
KC337MGA94_50509440.67698801.321.1360-55RC95E47/1745
KC338MGA94_50509439.37698841.420.8360-55RC84E47/1745
KC339MGA94_50509440.17698638.521.3360-55RC78E47/1745
KC340MGA94_50509440.17698599.921.3360-55RC78E47/1745
KC341MGA94_50509441.07698558.721.3360-55RC96E47/1745
KC342MGA94_50509038.77698481.823.4360-55RC120E47/1745
KC343MGA94_50508781.37698826.924.7320-55RC96E47/1745
KC344MGA94_50508799.67698921.023.9360-55RC96E47/1745
KC345MGA94_50508800.47698881.624.2360-55RC126E47/1745
KC346MGA94_50508801.27698841.224.6360-55RC138E47/1745
KC347MGA94_50508959.77698961.823.3360-55RC84E47/1745
KC348MGA94_50508960.17698920.923.2360-55RC126E47/1745
KC349MGA94_50508958.07698878.723.2360-55RC150E47/1745
KC350MGA94_50508961.07698921.123.2180-55RC48E47/1745
KC351MGA94_50508983.17698406.224.670-55RC102E47/1745
KC352MGA94_50508944.27698390.524.970-55RC120E47/1745
KC353MGA94_50508824.27698351.226.870-55RC163E47/1745
KC354MGA94_50508861.47698292.528.370-55RC162E47/1745
KC355MGA94_50508861.77698184.727.170-55RC132E47/1745
KC356MGA94_50508971.37698213.425.070-55RC60E47/1745
KC357MGA94_50509003.47698223.624.670-55RC132E47/1745
KC358MGA94_50509038.17698059.825.570-55RC126E47/1745
KC359MGA94_50509075.47698081.324.970-55RC96E47/1745
KC360MGA94_50508883.97698209.828.470-55RC114E47/1745
KC361MGA94_50509018.47697876.824.9145-55RC120E47/1745
KC362MGA94_50509062.37697807.524.4145-55RC78E47/1745
KC363MGA94_50509017.77697878.124.9325-55RC174E47/1745
KC364MGA94_50508991.47698042.725.370-55RC126E47/1745
KC365MGA94_50508798.27698963.423.3360-55RC108E47/1745
KC366MGA94_50508996.07698915.823.2270-55RC150E47/1745
KC367MGA94_50509120.87698960.122.2360-55RC96E47/1745
KC368MGA94_50509119.97698922.122.6360-55RC90E47/1745
KC369MGA94_50509120.07698880.022.6360-55RC72E47/1745
KC370MGA94_50509120.07698840.122.5360-55RC84E47/1745
KC371MGA94_50508361.47694962.752.9180-55RC186E47/1745
KC372MGA94_50508874.27695032.647.8270-55RC138E47/1745
KC373MGA94_50508805.77694810.451.3110-55RC180E47/1745
KC374MGA94_50486654.27673820.869.3239-60RC126E47/3443
KC375MGA94_50486730.67673778.069.4239-60RC150E47/3443
KC376MGA94_50486680.07673933.069.2240-55RC144E47/3443
KC377MGA94_50509294.77695000.249.6175-50RC270E47/1745
KC378MGA94_50507460.47695044.852.5345-55RC150E47/1745
KC379MGA94_50507480.07694997.653.6345-55RC258E47/1745
KC380MGA94_50507526.57694972.953.3195-55RC228E47/1745
KC381MGA94_50509218.57695030.351.5209-50RC324E47/1745
KC382MGA94_50508796.27694801.951.6180-55RC336E47/1745
KC383MGA94_50508565.17694948.051.7150-55RC336E47/1745
KC384MGA94_50491903.67676161.387.1325-55RC60E47/3443
KC385MGA94_50491915.17676143.887.3325-55RC186E47/3443
KC386MGA94_50491930.37676121.787.2325-55RC138E47/3443
KC387MGA94_50491941.27676094.986.7325-55RC198E47/3443
KC388MGA94_50491795.77676315.692.960-55RC252E47/3443
KC389MGA94_50491973.07676711.996.9155-55RC60E47/3443
KC390MGA94_50492019.27676656.196.9330-55RC198E47/3443
KC391MGA94_50492002.57676679.496.8330-50RC78E47/3443
KC392MGA94_50491407.27676346.497.2150-50RC78E47/3443
KC393MGA94_50492064.87674733.787.1325-55RC78E47/3443
KC394MGA94_50492075.27674695.587.7325-55RC150E47/3443
KC395MGA94_50491990.67674696.490.6330-55RC78E47/3443
KC396MGA94_50501718.97676317.287.7300-55RC66P47/1847
KC397MGA94_50501717.87676317.887.7300-70RC318P47/1847
KC398MGA94_50501665.27676190.981.4300-70RC318P47/1847
KD901AMGA94_50507391.77695360.276.1298-50RC3E47/1745
KD901MGA94_50507391.77695360.276.1298-50RC122E47/1745
KD902MGA94_50507550.07695342.273.3170-50RCDD316E47/1745
KC399MGA94_50509280.67698960.222.3360-55RC78E47/1745
KC400MGA94_50509279.97698922.321.6360-55RC78E47/1745
KC401MGA94_50509280.67698879.221.3360-55RC78E47/1745
KC402MGA94_50509280.87698838.322.0360-55RC78E47/1745
KC403MGA94_50509280.87698801.222.0360-55RC78E47/1745
KC404MGA94_50509280.27698759.522.1360-55RC42E47/1745
KD903MGA94_50507533.47695464.859.4170-50RCDD198.1E47/1745
KC405MGA94_50509760.47698883.021.2360-55RC72E47/1745
KC406MGA94_50509760.37698839.621.0360-55RC78E47/1745
KC407MGA94_50509763.27698800.120.1360-55RC78E47/1745
KD904MGA94_50507517.87695523.157.9315-50RCDD242.1E47/1745

Table 2: Karratha Area – Significant RC Au assay results >0.1 g/t Au, carried up to 2 m internal dilution

Hole IdFrom mTo mmethodAu ppmCo ppmCu ppmNi ppmZn ppmWidthgram metres
KC3172833CONE0.24251
KC3176566CONE0.2810
KC3187680COMP0.7343
KC3216670COMP0.140
KC32356CONE1.0111
KC3231822COMP0.1741
KC3234246COMP0.3741
KC323164165CONE0.2710
KC3242728CONE0.1410
KC3271516CONE0.3110
KC329913CONE2.56410
KC3291718CONE0.1610
KC3307275CONE0.25331
KC3318283CONE0.1210
KC3319597CONE0.6721
KC331146148CONE0.42521
KC33378CONE1.3911
KC3333132CONE0.2710
KC3333941CONE0.20520
KC3335961CONE224
KC3337478CONE0.45342
KC3359093CONE0.231
KC335147150CONE0.3731
KC3364041CONE0.2011718109510
KC33814COMP0.12730
KC3394856COMP0.53784
KC3407276COMP0.18541
KC3422227CONE0.17651
KC3425256COMP0.14741
KC3426872CONE0.52442
KC3435458COMP0.29141
KC3447273CONE0.10421212786010
KC3447475CONE0.103151544105110
KC3448690CONE0.7172519921211243
KC3459091CONE0.183346761627210
KC3459495CONE0.118202442513210
KC34597105CONE0.133192167910381
KC345115120CONE0.263351747294551
KC3475960CONE0.4247136716213310
KC3485054COMP0.2641
KC3498284CONE0.41592867710321
KC349134135CONE0.112515151010
KC349136137CONE0.128148914242710
KC349144145CONE0.1191114263610
KC3512324CONE0.1085047602865210
KC3513031CONE0.137261745954310
KC3515354CONE0.251458817411010
KC3524445CONE0.1142732371914710
KC35296100COMP0.102518812811040
KC3547374CONE0.22261134510288310
KC354105106CONE0.265147523216178710
KC354129130CONE0.399145765110
KC3581215CONE0.1031582310194210530
KC3587475CONE0.12331804518410
KC3632024COMP0.16432587570238841
KC3643436COMP0.251254111321539421
KC365816COMP3.463828
KC3654249CONE0.10171
KC3655562CONE0.12871
KC3656873CONE0.12651
KC36604COMP0.79543
KC3671822COMP0.30541
KC3674243CONE0.25510
KC3685859CONE0.10510
KC369812COMP0.68343
KC3691520CONE1.73559
KC3693031CONE0.2310
KC3694950CONE0.10610
KC381216220COMP0.2881295415578041

Table 3: Karratha Area – Significant RC Au assay results >1000 ppm Cu carried up to 2 m internal dilution

Hole IdFrom mTo mmethodCu ppmNi ppmCo ppmAu ppmAg ppmWidth
KC3606079CONE348918291210.0162.119
KC3556787CONE326422781420.0192.020
KC358532CONE222419141330.0351.127
KC35492109CONE332215421100.0341.817
KC356417COMP347622131290.0141.913
KC359016COMP274414861050.031.016
KC3632024COMP875703250.1649.74
KC3646272CONE216120231200.0141.110
KC3512131CONE2115165330.0561.410
KC3643046COMP131116461400.0530.716
KC34597105CONE21679190.1332.48
KC3584550CONE307123751150.0211.45
KC3459095CONE28105330.0894.55
KC3524246CONE2724155270.0652.24
KC3447076CONE171910200.0731.66
KC353126127CONE10229185460.0817.51
KC353104109CONE200314031140.0170.75
KC345115120CONE174729350.2631.65
KC3448889CONE708815340.9994.01
KC3605256COMP1739903820.0041.04
KC3611015CONE132820951460.0060.25
KC3498284CONE2867790.4153.02
KC3523738CONE242115131420.0121.01
KC3539495CONE16731260700.010.71
KC3593738CONE1431844650.0080.61
KC3475960CONE1367162470.4212.51
KC3547374CONE13451028610.2220.41
KC3527374CONE1330209600.0311.21
KC3539192CONE122614001130.0070.51
KC3635152CONE110610981110.0060.81
KC3538990CONE1106310530.010.41
KC3458485CONE110017180.0251.01
KC3521920CONE10481035620.0130.11

_______________________________________________________

1 Refer to Artemis’ public disclosure record
2 Refer to the Company’s news release dated August 2, 2022.
3 Refer to Artemis’ and Azure’s public disclosure records.


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Figure 1
Novo’s Pilbara tenements and project location.
Figure 2
Prospect location at Purdy’s North and the Maitland/Dingo intrusive areas(3).
Figure 3
Hole KD902 at approximately 103.52 m, showing disseminated and stringer sulphides. Spot assays of sulphide with pXRF yielded 0.79% Ni and 0.21% Cu.
Figure 4
RC drill rig at the Morto Lago Prospect, in the Karratha District.
Figure 5
Novo geologists logging diamond core at the NRV06 Prospect.

2 thoughts on “Novo (NVO.TO): Significant Copper, Nickel and Gold Results From Karratha District

  1. Marc Ginsberg says:

    Novo math

    $52M in cash, $20M in equities, an unencumbered Mill operation, 11,500 square kilometers of highly prospective ground and two JVs we get for free.

    Totals a $76M market cap? Hmmm.

    1. admin says:

      Doesn’t sounds very expensive Marc

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