Business
Novo Resources: Significant Copper, Nickel and Gold Results From Karratha District
HIGHLIGHTS Diamond drilling at NRV06 successfully intersected zones over several metres of disseminated to stringer style Ni and Cu sulphide (pentlandite and ch
About this update from Novo Resources Corp.
[{"type":"text","content":" HIGHLIGHTS Diamond drilling at NRV06 successfully intersected zones over several metres of disseminated to stringer style Ni and Cu sulphide (pentlandite and chalcopyrite) in the Andover Intrusion (assays pending), with spot assaying using a pXRF of up to 0.95% Ni and 0.25% Cu. Drilling at the Morto Lago target delivered key intercepts (0.3 g/t Au cut-off) of: 3 m @ 3.35 g/t Au from 9 m in KC329; 4 m @ 6.74 g/t Au from 8 m (4 m composite) in KC365; and 5 m @ 1.73 g/t Au from 15 m including 2 m @ 4.06 g/t Au from 18 m in KC369. Results from drilling at the Milburn FLEM anomaly, interpreted up dip of the Artemis Chapman Prospect1, include: 13 m @ 0.39% Cu, 0.19% Ni and 0.013% Co from 92 m (KC354), including 3 m @ 0.59% Cu, 0.34% Ni and 0.021% Co from 94 m; 18 m @ 0.34% Cu, 0.24% Ni and 0.015% Co from 67 m (KC355), including 6 m @ 0.46% Cu, 0.32% Ni and 0.016% Co from 67 m; 5 m @ 0.65% Cu, 0.40% Ni and 0.02% Co from 12 m (KC356); and 19 m @ 0.35% Cu, 0.18% Ni and 0.012% Co from 60 m (KC360), including 8 m @ 0.48% Cu, 0.24% Ni and 0.014% Co from 70 m. These promising assay results are reported from Novo’s drilling program in the Karratha District, where Novo is exploring for high-grade Au (Cu-Co) adjacent to Artemis Resources Limited’s (“Artemis”) (ASX:ARV) Carlow Castle Au (Cu-Co) discovery (“Carlow Castle”) and Ni-Cu-Co adjacent to Azure Minerals Limited’s (“Azure”) (ASX:AZS) Andover Ni-Cu-Co discovery (“Andover”). Novo is currently conducting downhole EM (“DHEM”) on Ni-Cu-Co targets at the Southcourt, NRV06, and Milburn Prospects. Commenting on the precious and base metal results generated in the Karratha District, Mr. Mike Spreadborough, Novo’s Executive Co-Chairman, Director, and acting Chief Executive Officer said, “This set of assays from our widespread drill program in the Karratha District has generated exciting results. We are fortunate to control a dominant landholding in the Pilbara, which comprises a strong pipeline of exploration targets and we are committed to investing in the drill bit as we strive to deliver discovery success and build long-term shareholder value.” “The high-grade results from the Morto Lago area and positive results from the Milburn area provide us with a compelling platform to continue our aggressive approach to exploration in 2023. We await the next set of assays from 47k and 48K, Sullam, NRV06,...