Novo Consolidates Large Land Position Along The Blue Spec Trend, Western Australia

About this update from Novo Resources Corp.

[{"type":"text","content":"Novo Consolidates Large Land Position Along The Blue Spec Trend, Western Australia(via Thenewswire.ca)\n\n \nVANCOUVER, BC / TheNewswire / April 14, 2016 - Novo Resources Corp. (TSX-V: NVO; OTCQX: NSRPF) (\"Novo\" or the \"Company\") is pleased to announce that through its Australian subsidiary, Beatons Creek Gold Pty Ltd, it has entered into two separate property agreements encompassing approximately 20 km of strike along the Blue Spec trend near its flagship Beatons Creek gold project in Western Australia. \n\n\n \nTwo Creeks Project\n\n\n \nNovo has entered into a licence and farm-in option agreement with Mesa Minerals Limited, an Australian Stock Exchange listed company, for the right to explore its Two Creeks project (the \"Two Creeks Project\"). A payment of AU$10,000 was made to Mesa Minerals for an initial exploration licence period set to expire on July 5, 2016. Novo can exercise its right to enter into a farm-in and joint venture agreement (pursuant to which Novo would have the right to earn a 70% by incurring AU$500,000 in exploration expenditures) with Mesa Minerals on or before July 5, 2016 by issuing AU$500,000 worth of Novo's common shares (the \"Consideration Shares\") based on Novo's then 5-day trailing volume-weighted average price (\"VWAP\"). If issued, the Consideration Shares will be subject to a statutory hold period expiring four months from the date of issuance, as well as an additional two-month hold period agreed upon by the Company and Mesa Minerals.\n\n\n \nThe Two Creeks Project covers an area of approximately 251 sq km in an area approximately 13 km east of Novo's Blue Spec Au-Sb Project. Importantly, the Two Creeks Project hosts approximately 9 km of strike along the Blue Spec shear zone, a prolific host to high grade Au-Sb veins in this region. The Two Creeks Project also covers part of the Eastern Creek Goldfield, a historic mining district hosting several notable high grade gold veins. Although poorly explored, Novo thinks there is strong potential for discovery of high grade gold veins within the Two Creeks Project. Novo plans to commence reconnaissance mapping and sampling at Two Creeks immediately.\n\n\n \nMt Hayes Project\n\n\n \nNovo has entered into an option agreement with Red Dog Prospecting Pty Ltd, a private Australian company, for the right to explore its Mt. Hayes project (the \"Mt. ...

More updates from Novo Resources Corp.