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Novo Updates Progress at Beatons Creek and Provides Exploration Overview
(via Thenewswire.ca) VANCOUVER, BC / TheNewswire / May 10, 2016 - Novo Resourc...
About this update from Novo Resources Corp.
[{"type":"text","content":"Novo Updates Progress at Beatons Creek and Provides Exploration Overview(via Thenewswire.ca)\n\n \n\n\n\n \nVANCOUVER, BC / TheNewswire / May 10, 2016 - Novo Resources Corp. (\"Novo\" or the \"Company\") (TSX-V: NVO; OTCQX: NSRPF) is pleased to provide an update on permitting of its Beatons Creek trial mine and to present an overview of exploration in the Mosquito Creek Basin. \n\n\n \nBeatons Creek Trial Mine\n\n\n \nIn a meeting with the Western Australian Department of Mines and Petroleum (\"DMP\") last week, Novo received detailed guidance regarding additional data DMP requires for Novo's planned bulk sampling exercise at its Beatons Creek gold project. Novo's proposal encompasses processing of mined material and disposing of crushed rock tailings in an existing tailings storage pond that was once used to hold tailings from alluvial mining operations conducted on site in the 1980's. The DMP has asked Novo to provide an independent engineering report on the existing tailings dam to verify its integrity. \n\n\n \nNovo currently has an independent engineer on site, and a report is expected to be generated within two weeks at which time it be submitted to the DMP. Novo hopes that this report as well as other information it has provided to the DMP will allow completion of the permitting process.\n\n\n \nGiven the recent success of crushing tests (please see the Company's news release dated April 13, 2016), and considering that some of the equipment used for bulk sampling may also be used for a future commercial-scale mine if one is established, Novo has decided to incorporate data from bulk sampling into its ongoing economic studies and its anticipated preliminary economic assessment. Therefore, Novo plans to complete its economic studies following completion and evaluation of its bulk sampling exercise. \n\n\n \nConsolidation of Land Holdings in the Mosquito Creek Basin\n\n\n \nIn the Company's news release dated April 14, 2016, Novo announced signing of two option agreements, Two Creeks and Mt. Hays, covering 327 square km in the eastern part of the Mosquito Creek Basin (please see Figure 1 below). Combined with Novo's 100% owned Blue Spec Au-Sb project and the Mosquito Creek project optioned from Talga Resources (please refer to the Company's news release dated August 12, 2015), Novo now controls approximately 450 square km of...