HIGHLIGHTS
Novo Executive Co-Chairman and Acting CEO Mike Spreadborough said “It is exciting to see a significant grade increase in the Nunyerry North results and especially close to surface. Plans are already in place for a follow-up program testing new shoots at depth and the eastern down-plunge extension, as well as a number of other targets within a 2 km radius.
We are also eagerly awaiting drill results from De Grey’s recently completed aircore drilling program at the Becher Project, which is part of our Egina farm-in and joint venture area and are very excited to announce that reverse circulation drill testing has commenced targeting mineralisation at Heckmair, Irvine and Lowe, as a follow-up to the outstanding work the Novo team conducted in 2022 and 2023 at Becher.”
Novo Resources Corp. (ASX: NVO) (TSX: NVO & NVO.WT.A) (OTCQX: NSRPF) is pleased to announce continued drilling success at the Egina Gold Camp in the Pilbara, Western Australia, with significant results returned from final gold in photonAssayTM in the Company’s maiden reverse circulation drill program at Nunyerry North (Figures 1 and 2). The Nunyerry North project is a 70:30 joint venture with the Creasy Group.1
Targeted RC drilling is also underway at the Becher Project, where De Grey Mining (ASX:DEG) has plans to test the Heckmair, Irvine and Lowe prospects before year-end. De Grey have recently completed 192 infill aircore drill holes for a total of 5,251 m at Becher as part of its planned initial 39,000 m drill program. Results are expected over the next 4 to 5 weeks.
The Egina Gold Camp is a contiguous tenement package, targeted on a series of structurally complex, gold-fertile corridors, hosted by rocks of the Mallina Basin in the north and mafic / ultramafic sequences further south. These corridors trend towards De Grey’s 11.5 Moz Hemi Gold Project to the north and northeast. This tenure has been one of the main focus areas for Novo’s exploration programs over the last eighteen months, culminating in the Egina JV with De Grey, and delineation of the Nunyerry North orogenic gold prospect. Several prospects remain to be tested in the southern part of the corridor in 2024.
Figure 1: Novo’s Pilbara tenure showing priority prospects, joint venture interests and the location of drilling at Nunyerry North and Becher.
Nunyerry North Drill Program2
Novo recently completed its maiden drill program of 30 holes for 2,424 m of shallow RC drilling at Nunyerry North with positive results for the program. Angled drill holes averaged 81 m depth and ranged from 36 to 120 m in depth.
These were conducted on 40 to 60 m spaced sections in two areas over the strongest gold-in-soil anomaly, with holes approximately 20 m apart on section (Figure 3). All holes were drilled oriented perpendicular to the estimated mineralized trend, with the intersected widths representative of the true width of the mineralization
Results received include best intercepts of:
with intercepts calculated using up to 3 m internal dilution and 0.3 g/t Au cut-off) (see Table 1 and Appendix 1 for hole locations).
Figure 2: Nunyerry North coarse gold in white translucent quartz veins from surface.
First pass drilling has defined several zones of mineralised quartz veining. The Main Lode #1 is essentially “blind” (only a small area of the target outcrops) and several other mineralised zones identified during reconnaissance drilling are completely blind (Figure 4). The primary target in the western part of the drilled area, Main Lode #1, has shown consistency in all sections and has a south-southeast dip of approximately 60 degrees (Figure 5 and 6) and an interpreted shallow plunge to the east.
Mineralisation is hosted in arrays of white quartz veins with minor sulphides including chalcopyrite. The vein arrays trend between two north dipping shear zones, the Freyda and Skadi Shear Zones, and are hosted in a 60 m wide zone of fine to medium grained mafic to high-MgO basalt within an ultramafic dominant package. It is important to understand that this maiden drill program only tests a small area of the overall Nunyerry North prospect.
It is recognized from surface work that the Nunyerry North prospect has significant visible gold or coarse nuggety gold, which provides challenges to obtain accurate assay results (Figure 2). Novo is conducting trials on the best methodology and sample size to allow accurate reporting of the gold assays.
Intercepts from the first four drill holes were sent for 1 kg screen fire-assay (total gold) to assess coarse gold variability. Most gold intercepts were enhanced using screen fire assay, with comparisons (full table of comparison is given Table 2) including:
A further 5 intercepts have been sent for 1 kg screen fire-assay.
Figure 3: Nunyerry North geological interpretation and drill hole location plan.
Figure 4: Nunyerry North long section (looking NNW) showing m x g/t Au (downhole width) for the Main Lode #1
Figure 5: Nunyerry North cross sections 590860E looking WSW.
Figure 6: Nunyerry North cross section 590660E (looking WSW).
Table 1: Significant RC drill results Nunyerry North (* results published Novo ASX release 17 October 2023)
Hole | Width m |
Au g/t | From m |
intercept |
NC001* | 13 | 0.48 | 1 | 13 m @ 0.48 g/t Au from 1 m – NC001 |
NC002* | 1 | 4.64 | 2 | 1 m @ 4.64 g/t Au from 2 m – NC002 |
NC002* | 4 | 1 | 17 | 4 m @ 1.0 g/t Au from 17 m – NC002 |
NC003* | 7 | 0.75 | 0 | 7 m @ 0.75 g/t Au from 0 m – NC003 |
including | 3 | 1.37 | 4 | 3 m @ 1.37 g/t Au from 4 m – NC003 |
NC004* | 13 | 1.18 | 0 | 13 m @ 1.18 g/t Au from 0 m – NC004 |
NC006* | 7 | 1.12 | 38 | 7 m @ 1.12 g/t Au from 38 m – NC006 |
NC008 | 10 | 0.66 | 2 | 10 m @ 0.66 g/t Au from 2 m – NC008 |
including | 5 | 1.03 | 6 | including 5 m @ 1.03 g/t Au from 6 m |
NC011 | 4 | 1.15 | 79 | 4 m @ 1.15 g/t Au from 79 m – NC011 |
NC014 | 11 | 1.98 | 22 | 11 m @ 1.98 g/t Au from 22 m – NC014 |
including | 7 | 2.92 | 22 | 7 m @ 2.92 g/t Au from 22 m |
NC015 | 4 | 4.15 | 40 | 4 m @ 4.15 g/t Au from 40 m – NC015 |
including | 2 | 7.42 | 41 | including 2 m @ 7.42 g/t Au from 41 m |
NC017 | 2 | 2.81 | 31 | 2 m @ 2.81 g/t Au from 31 m – NC017 |
NC017 | 5 | 1.84 | 37 | 5 m @ 1.84 g/t Au from 37 m – NC017 |
NC022 | 12 | 0.6 | 42 | 12 m @ 0.6 g/t Au from 42 m – NC022 |
NC022 | 4 | 1.09 | 50 | including 4 m @ 1.09 g/t Au from 50 m |
NC022 | 7 | 1.38 | 59 | 7 m @ 1.38 g/t Au from 59 m – NC022 |
NC022 | 14 | 0.59 | 79 | 14 m @ 0.59 g/t Au from 79 m – NC022 |
including | 3 | 1.4 | 79 | including 3 m @ 1.40 g/t Au from 79 m |
NC024 | 8 | 1.31 | 58 | 8 m @ 1.31 g/t Au from 58 m – NC024 |
NC027 | 13 | 0.76 | 0 | 13 m @ 0.76 g/t Au from 0 m – NC027 |
including | 3 | 1.55 | 6 | including 3 m @ 1.55 g/t Au from 6 m |
NC027 | 4 | 3.56 | 26 | 4 m @ 3.56 g/t Au from 26 m – NC027 |
including | 2 | 6.06 | 27 | including 2 m @ 6.06 g/t Au from 27 m |
3m internal dilution and 0.3 g/t Au cut-off |
Table 2: Comparison between the results for 500g Chrysos photonAssayTM vs 1000g screen fire assay for selected holes at Nunyerry North, with orange highlights showing an increase in the grade when assayed with a larger sample and using screen fire assay.
Hole | Intercept – PhotonAssay | Intercept – 1 kg screen fire assay |
NC001 | 13 m @ 0.48 g/t Au from 1 m | 13 m @ 0.57 g/t Au from 1 m |
NC002 | 1 m @ 4.64 g/t Au from 2 m | 1 m @ 3.09 g/t Au from 2 m |
NC002 | 4 m @ 1 g/t Au from 17 m | 4 m @ 1.76 g/t Au from 17 m |
NC002 | 4 m @ 0.36 g/t Au from 61 m | 4 m @ 1.05 g/t Au from 61 m |
NC003 | 7 m @ 0.75 g/t Au from 0 m including 3 m @ 1.37 g/t Au |
8 m @ 1.42 g/t Au from 0 m including 3 m @ 3.13 g/t Au |
NC003 | 4 m @ 0.64 g/t Au from 32 m | 1 m @ 2.91 g/t Au from 32 m |
NC004 | 13 m @ 1.18 g/t Au from 0 m | 13 m @ 1.04 g/t Au from 0 m |
Nunyerry North Forward Exploration Program
Based on the highly encouraging results from the maiden RC drilling program, further work at Nunyerry North will include:
Figure 7: The broader Nunyerry North Project area highlighting contoured gold results from soil sampling at Nunyerry North and completed RC drill holes
Becher Exploration Update
Novo’s highly prospective Becher Project, is located some 28 km from De Grey’s 9.5 million ounce Hemi gold deposit3, at the northeastern end of the Egina Gold Camp. Novo completed approximately 61,000 m of AC drilling at Becher in 2022 and 2023, exploring for intrusion-hosted and shear-related gold deposits, similar to De Grey’s gold deposits in the Mallina Project. In June 2023, Novo announced an earn-in arrangement that may result in the formation of the Egina JV with De Grey on the Becher Project and other Novo tenements. De Grey is required to spend A$25 million within four years to earn a 50% JV interest (including a requirement for a minimum spend of A$7 million in the first 18 months).4
As part of the exploration commitment, De Grey recently completed 192 infill AC drill holes for a total of 5,251 m at Becher, part of its planned initial 39,000 m program of AC, RC and diamond drilling.5 Results are expected over the next 4 to 5 weeks.
De Grey has also commenced >35 RC drill holes for approximately 5,000 m up to a planned depth of 280 m. RC drilling will test significant zones of gold geochemistry in three prospects, including Heckmair, Irvine and Lowe.
ANALYTIC METHODOLOGY
One metre cone split samples of RC chips were split directly off the cyclone on the drill rig and were sent to Intertek Genalysis (Intertek) in Perth, Western Australia with the entire sample smart crushed to -3mm (NVO02 prep code), with a 500 g split sample analysed for gold using Photon Assay (PHXR/AU01).
QA/QC for RC samples are inserted at the rate of 4 x 600g standards per 100, 4 x 600g blanks per 100 (including 2 coarse and 2 -80# blanks) and 4 riffle split duplicates per 100, providing a total of 12% QA/QC. Intertek also inserts customized Chrysos certified standards at the rate of 2 per hundred.
The first 4 drill holes were also assayed using four acid digest and 50 g charge fire assay FA50/OE as a comparative exercise, after pulverizing a cone split duplicate sample to -80# (SP64 FA50/OE). The first four drill hole significant intercepts were also analysed by 1kg 106 micron screen fire assay with ICP-OES finish (Code SF 100/OE), using the Chrysos and coarse rejects.
There were no limitations to the verification process and all relevant data was verified by a qualified person/competent person (as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects and the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) respectively) by reviewing the analytical procedures undertaken by Intertek.
ABOUT NOVO
Novo explores and develops its prospective land package covering approximately 9,000 square kilometres6 in the Pilbara region of Western Australia, along with the 22 square kilometre Belltopper project in the Bendigo Tectonic Zone 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 shareholders.
APPENDIX
Appendix 1 – Nunyerry North RC drill hole locations in MGA_2020 zone 50 final DGPS survey
HOLE_ID | EASTING (m) | NORTHING (m) | RL (m) | AZI | DIP | DEPTH (m) |
NC001 | 590752 | 7619490 | 277 | 331 | -46 | 52 |
NC002 | 590756 | 7619480 | 274 | 333 | -49 | 78 |
NC003 | 590764 | 7619461 | 269 | 334 | -49 | 90 |
NC004 | 590793 | 7619496 | 270 | 337 | -45 | 52 |
NC005 | 590801 | 7619478 | 268 | 332 | -50 | 120 |
NC006 | 590809 | 7619460 | 266 | 338 | -53 | 120 |
NC007 | 590810 | 7619459 | 266 | 281 | -44 | 66 |
NC008 | 590704 | 7619452 | 275 | 337 | -54 | 48 |
NC009 | 590720 | 7619512 | 283 | 160 | -78 | 48 |
NC010 | 590689 | 7619485 | 281 | 327 | -43 | 54 |
NC011 | 590693 | 7619475 | 282 | 329 | -58 | 102 |
NC012 | 590770 | 7619449 | 267 | 337 | -56 | 102 |
NC013 | 590815 | 7619444 | 265 | 337 | -55 | 102 |
NC014 | 590836 | 7619493 | 270 | 332 | -43 | 54 |
NC015 | 590845 | 7619474 | 267 | 331 | -60 | 114 |
NC016 | 590849 | 7619466 | 265 | 333 | -70 | 102 |
NC017 | 590878 | 7619491 | 265 | 339 | -54 | 102 |
NC018 | 590892 | 7619475 | 263 | 341 | -57 | 102 |
NC019 | 590650 | 7619474 | 271 | 333 | -45 | 54 |
NC020 | 590626 | 7619425 | 266 | 332 | -44 | 102 |
NC021 | 590616 | 7619465 | 270 | 91 | -50 | 54 |
NC022 | 590664 | 7619438 | 269 | 335 | -51 | 120 |
NC023 | 590769 | 7619449 | 267 | 331 | -74 | 102 |
NC024 | 590710 | 7619432 | 269 | 337 | -46 | 88 |
NC025 | 591080 | 7619513 | 263 | 69 | -45 | 72 |
NC026 | 591194 | 7619458 | 260 | 339 | -44 | 102 |
NC027 | 591156 | 7619459 | 263 | 338 | -45 | 102 |
NC028 | 591165 | 7619440 | 259 | 337 | -46 | 60 |
NC029 | 590769 | 7619457 | 268 | 360 | -88 | 42 |
NC030 | 591168 | 7619441 | 259 | 360 | -90 | 36 |
Appendix 2 – Nunyerry North RC drill results > 0.3 g/t Au holes NC007 to NC0030
Hole ID | width m | Au g/t | From m | intercept |
NC007 | NSI | |||
NC008 | 10 | 0.66 | 2 | 10 m @ 0.66 g/t Au from 2 m – NC008 |
including | 5 | 1.03 | 6 | including 5 m @ 1.03 g/t Au from 6 m |
NC008 | 1 | 3.09 | 17 | 1 m @ 3.09 g/t Au from 17 m – NC008 |
NC009 | NSI | |||
NC010 | 1 | 0.53 | 10 | 1 m @ 0.53 g/t Au from 10 m – NC010 |
NC010 | 3 | 0.69 | 15 | 3 m @ 0.69 g/t Au from 15 m – NC010 |
NC011 | 1 | 0.31 | 27 | 1 m @ 0.31 g/t Au from 27 m – NC011 |
NC011 | 1 | 0.43 | 30 | 1 m @ 0.43 g/t Au from 30 m – NC011 |
NC011 | 4 | 1.15 | 79 | 4 m @ 1.15 g/t Au from 79 m – NC011 |
NC011 | 1 | 0.48 | 90 | 1 m @ 0.48 g/t Au from 90 m – NC011 |
NC011 | 1 | 0.40 | 101 | 1 m @ 0.4 g/t Au from 101 m – NC011 open |
NC012 | 1 | 0.38 | 55 | 1 m @ 0.38 g/t Au from 55 m – NC012 |
NC012 | 7 | 0.76 | 95 | 7 m @ 0.76 g/t Au from 95 m – NC012 |
NC013 | 1 | 0.50 | 66 | 1 m @ 0.5 g/t Au from 66 m – NC013 |
NC014 | 11 | 1.98 | 22 | 11 m @ 1.98 g/t Au from 22 m – NC014 |
including | 7 | 2.92 | 22 | including 7 m @ 2.92 g/t Au from 22 m |
including | 4 | 4.10 | 24 | or including 4 m @ 4.1 g/t Au from 24 m |
NC015 | 1 | 0.48 | 0 | 1 m @ 0.48 g/t Au from 0 m – NC015 |
NC015 | 1 | 0.55 | 13 | 1 m @ 0.55 g/t Au from 13 m – NC015 |
NC015 | 1 | 0.31 | 34 | 1 m @ 0.31 g/t Au from 34 m – NC015 |
NC015 | 4 | 4.15 | 40 | 4 m @ 4.15 g/t Au from 40 m – NC015 |
including | 2 | 7.42 | 41 | including 2 m @ 7.42 g/t Au from 41 m |
NC015 | 1 | 0.41 | 87 | 1 m @ 0.41 g/t Au from 87 m – NC015 |
NC015 | 1 | 1.35 | 96 | 1 m @ 1.35 g/t Au from 96 m – NC015 |
NC016 | 1 | 0.31 | 3 | 1 m @ 0.31 g/t Au from 3 m – NC016 |
NC016 | 1 | 0.69 | 6 | 1 m @ 0.69 g/t Au from 6 m – NC016 |
NC016 | 2 | 0.88 | 36 | 2 m @ 0.88 g/t Au from 36 m – NC016 |
NC016 | 1 | 0.44 | 58 | 1 m @ 0.44 g/t Au from 58 m – NC016 |
NC016 | 1 | 8.28 | 72 | 1 m @ 8.28 g/t Au from 72 m – NC016 |
NC017 | 2 | 2.81 | 31 | 2 m @ 2.81 g/t Au from 31 m – NC017 |
NC017 | 5 | 1.84 | 37 | 5 m @ 1.84 g/t Au from 37 m – NC017 |
NC017 | 1 | 0.50 | 48 | 1 m @ 0.5 g/t Au from 48 m – NC017 |
NC017 | 1 | 0.37 | 100 | 1 m @ 0.37 g/t Au from 100 m – NC017 |
NC018 | 1 | 0.31 | 26 | 1 m @ 0.31 g/t Au from 26 m – NC018 |
NC018 | 1 | 0.33 | 47 | 1 m @ 0.33 g/t Au from 47 m – NC018 |
NC018 | 2 | 1.16 | 52 | 2 m @ 1.16 g/t Au from 52 m – NC018 |
NC018 | 1 | 1.60 | 58 | 1 m @ 1.6 g/t Au from 58 m – NC018 |
NC018 | 1 | 0.46 | 75 | 1 m @ 0.46 g/t Au from 75 m – NC018 |
NC019 | 1 | 0.31 | 30 | 1 m @ 0.31 g/t Au from 30 m – NC019 |
NC020 | 1 | 1.84 | 85 | 1 m @ 1.84 g/t Au from 85 m – NC020 |
NC021 | 1 | 0.49 | 45 | 1 m @ 0.49 g/t Au from 45 m – NC021 |
NC022 | 1 | 0.66 | 37 | 1 m @ 0.66 g/t Au from 37 m – NC022 |
Hole ID | width m | Au g/t | From m | intercept |
NC022 | 12 | 0.60 | 42 | 12 m @ 0.6 g/t Au from 42 m – NC022 |
NC022 | 4 | 1.09 | 50 | including 4 m @ 1.09 g/t Au from 50 m |
NC022 | 7 | 1.38 | 59 | 7 m @ 1.38 g/t Au from 59 m – NC022 |
including | 5 | 1.73 | 60 | including 5 m @ 1.73 g/t Au from 60 m |
NC022 | 1 | 0.31 | 75 | 1 m @ 0.31 g/t Au from 75 m – NC022 |
NC022 | 14 | 0.59 | 79 | 14 m @ 0.59 g/t Au from 79 m – NC022 |
including | 3 | 1.40 | 79 | including 3 m @ 1.4 g/t Au from 79 m |
and including | 2 | 1.05 | 91 | and including 2 m @ 1.05 g/t Au from 91 m |
NC023 | NSI | |||
NC024 | 1 | 0.48 | 43 | 1 m @ 0.48 g/t Au from 43 m – NC024 |
NC024 | 1 | 0.30 | 53 | 1 m @ 0.3 g/t Au from 53 m – NC024 |
NC024 | 8 | 1.31 | 58 | 8 m @ 1.31 g/t Au from 58 m – NC024 |
Including | 4 | 1.82 | 61 | including 4 m @ 1.82 g/t Au from 61 m |
NC024 | 1 | 0.69 | 68 | 1 m @ 0.69 g/t Au from 68 m – NC024 |
NC024 | 2 | 0.31 | 70 | 2 m @ 0.31 g/t Au from 70 m – NC024 |
NC025 | 3 | 0.80 | 28 | 3 m @ 0.8 g/t Au from 28 m – NC025 |
NC025 | 4 | 0.34 | 68 | 4 m @ 0.34 g/t Au from 68 m – NC025 ended in min |
NC026 | NSI | |||
NC027 | 13 | 0.76 | 0 | 13 m @ 0.76 g/t Au from 0 m – NC027 |
Including | 3 | 1.55 | 6 | including 3 m @ 1.55 g/t Au from 6 m |
NC027 | 1 | 0.34 | 19 | 1 m @ 0.34 g/t Au from 19 m – NC027 |
NC027 | 4 | 3.56 | 26 | 4 m @ 3.56 g/t Au from 26 m – NC027 |
Including | 2 | 6.06 | 27 | including 2 m @ 6.06 g/t Au from 27 m |
NC028 | NSI | |||
NC029 | NSI | |||
NC030 | Not assayed – open hole |
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