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Novo Commences Drilling on its 100% Controlled Ground at Beatons Creek, Western Australia
(via Thenewswire.ca) VANCO UVER , July 18, 2013 - Novo Resou rces Corp. (the "Compa...
About this update from Novo Resources Corp.
[{"type":"text","content":"Novo Commences Drilling on its 100% Controlled Ground at Beatons Creek, Western Australia(via Thenewswire.ca)\n\n \nVANCOUVER, July 18, 2013 - Novo Resources Corp. (the \"Company\") (CNSX: NVO; OTCQX: NSRPF) is pleased to announce it has commenced reverse circulation (RC) drilling on its 100% controlled ground (tenement P46/1806) at its Beatons Creek Gold Project, Western Australia (see attached drill plan map). Drilling will also be undertaken on adjacent tenement P46/1790 held under a joint venture with Creasy Group Pty. Ltd. The goal of the 2013 drill program will be to aggressively expand upon the 421,000 troy ounce gold inferred resource (8.9 million tonnes at a grade of 1.47 grams gold per tonne) announced in a press release dated May 1, 2013, and detailed in a National Instrument 43-101 technical report filed on May 23, 2013. This resource, situated on tenement M46/11, lies approximately two kilometers southeast of the area currently being drilled and is held under a joint venture with Millennium Minerals Ltd. which operates the nearby Golden Eagle mine and mill. \n\n \n \n\"Recent surface sampling of gold-bearing conglomerates on our 100% controlled tenement and nearby joint venture grounds has returned encouraging results including 55 outcrop chip samples grading in excess of 10 grams per tonne gold,\" commented Dr. Quinton Hennigh, President and CEO of Novo Resources. \"These conglomerate horizons dip very gently, about three degrees to the south, so we are confident they will be intersected at shallow depths over the entire target area. Given that our average drill hole depth will be about 35-40 meters, the entire 49-hole program will comprise only about 2,000 meters of drilling and cost approximately $220,000. We see this as an opportunity to quickly grow our resource for a modest budget.\"\n\n \n \nInitial gold analyses from this drill program are expected back by early September, 2013. Upon receipt of these results, and depending on market conditions, the Company will determine whether to expand this year's drill program onto adjoining land. Shallow gold-bearing conglomerates are believed to underlie approximately four square kilometers at Beatons Creek. The Company has approximately 250 additional drill holes permitted within this four square kilometer area, so there will be no delay in drilling should this decisi...