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Successful RC Drill Program Completed at Nunyerry North

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Successful RC Drill Program Completed at Nunyerry North

 

 

 

 

 

HIGHLIGHTS

  • Continued exploration success in the Egina Gold Camp, Novo’s highly prospective gold belt in the Pilbara, Western Australia.
  • 30 holes for 2,424 m of shallow reverse circulation drilling completed at Nunyerry North in maiden drill program.
  • All gold photonAssayTM results now received, including best new intercepts of:
    • 11 m @ 1.98 g/t Au including 7m @ 2.92 g/t Au (NC014);
    • 4 m @ 4.15 g/t Au including 2m @ 7.42 g/t (NC015);
    • 5 m @ 1.84 g/t Au (NC017);
    • 7m @ 1.38 g/t Au (NC022);
    • 8m @ 1.31 g/t Au (NC024); and
    • 4m @ 3.56 g/t Au (NC027) including 2m @ 6.06 g/t Au
  • Significant coarse nuggety gold recognised at surface with ongoing assessment of coarse gold grade variability in drilling.
  • Nunyerry North follow-up drilling planned for H1 2024 including targeting down plunge and at depth for repeat structures, and on more regional step out targets.
  • De Grey Mining (ASX:DEG) is rapidly progressing its drilling program and committed expenditure under the Egina JV arrangements. De Grey recently completed 192 infill aircore drill holes (5,251 m) at Becher as part of an initial 39,000 m drill program. Results are pending.
  • Reverse circulation drilling of approximately 5,000 m in >35 drill holes has also commenced to test key targets defined by Novo at the Heckmair, Irvine and Lowe prospects within the Becher area.

 

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:

  • 11 m @ 1.98 g/t Au including 7m @ 2.92 g/t Au (NC014)
  • 4 m @ 4.15 g/t Au including 2m @ 7.42 g/t (NC015)
  • 8m @ 1.31 g/t Au (NC024) and
  • 4m @ 3.56 g/t Au (NC027) including 2m @ 6.06 g/t Au.

 

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:

  • 4 m @ 1.0 g/t Au, re-reporting as 4 m @ 1.76 g/t Au using screen fire assay; and
  • 7 m @ 0.75 g/t Au re-reporting as 8 m @ 1.42 g/t Au using screen fire assay.

 

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:

  • 3D targeting and detailed geological and structural modelling.
  • Additional RC and diamond drilling to test extensions to the known mineralisation, and the southern and western soil anomalies in H1 2024.
  • Generation of high-resolution aerial photography and digital elevation model (DEM) for the entire target area.
  • Intercepts from 5 additional drill holes have been sent for 1 kg screen fire-assay to assess coarse gold variability, in preparation for future work programs.
  • Detailed mapping and rock chip sampling in areas outside of the current limit of mapping.
  • Petrological studies to define host rock composition, alteration and sulphide mineralogy.

 

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

 

Posted November 14, 2023

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