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NI 43-101 Compliant Technical Report Completed on Novo's Beatons Creek Gold Project, Western Australia; Subscription Receipts Not Converted
(via Thenewswire.ca) VANCOUVER, March 7, 2013 - Novo Resources Corp. (the "Company") (CNSX:...
About this update from Novo Resources Corp.
[{"type":"text","content":"\nNI 43-101 Compliant Technical Report Completed on Novo's Beatons Creek Gold Project, Western Australia; Subscription Receipts Not Converted\n\n(via Thenewswire.ca)\n\n \nVANCOUVER, March 7, 2013 - Novo Resources Corp. (the \"Company\") (CNSX: NVO; OTCQX: NSRPF) is pleased to report that a National Instrument 43-101 compliant technical report (the \"Report\") on the Pilbara Palaeoplacer (also referred as Beatons Creek) Project (the \"Project\") has been completed. The Project is located in the located in the Eastern Pilbara shire of Western Australia. A copy of the Report will be filed under the Company's SEDAR profile at www.sedar.com. \n\n \n \nThe Report summarizes historic work as well as results from reverse circulation drill programs the Company carried out in 2011 and 2012. Results from the 2012 drill program were highly encouraging (see news release dated February 13, 2013 for a summary), and based upon conclusions drawn from that drill program, the Company is planning further exploration drilling at Beatons Creek in 2013.\n\n \n \nThe report recommends the following three actions:\n\n\n \n\n1)Completion of specific gravity measurements for all major rock types. \n\n\n\n2)Completion of a variety of metallurgical tests. \n\n\n\n3)Undertaking a resource estimate and then a preliminary economic assessment following completion of items 1 and 2, respectively. \n\n\n\nSpecific gravity measurements and metallurgical test work will be undertaken on rock core from the Company's current 8-hole diamond drill program. Completion of specific gravity measurements is expected around the end of March, and metallurgical tests by quarter three of calendar 2013. Upon receipt of specific gravity measurements, a resource estimate will be finalized by Tetra Tech WEI Inc, Perth, Australia with an anticipated completion date in April, 2013. Work on a preliminary economic assessment will be evaluated at that time.\n\n \n \n\"We are very pleased with the progress of our program at Beatons Creek,\" commented Dr. Quinton Hennigh, President and CEO of Novo Resources. \"Our current diamond core drill program will provide the final data needed to undertake an initial NI 43-101 resource estimation at Beatons Creek. Looking forward, work on metallurgy and other aspects of the project will allow us to get a first glimpse of the potential economics of th...