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Novo/GBM JV Commences Inaugural Malmsbury Gold Project Diamond Drilling Program
HIGHLIGHTS Commencement of >2,000 m diamond drilling program, testing multiple high-order gold targets at the 50%-owned Malmsbury Gold Project (“Malmsbury Proje
About this update from Novo Resources Corp.
[{"type":"text","content":" HIGHLIGHTS Commencement of >2,000 m diamond drilling program, testing multiple high-order gold targets at the 50%-owned Malmsbury Gold Project (“Malmsbury Project”), 50 km SSW of the high-grade Fosterville gold mine in Victoria, Australia Drill targets defined through systematic exploration in 2021 including mapping with alteration vectoring, grid soil and rock chip sampling, historic drill core review/re-sampling and historic data compilation with 3D modelling The Malmsbury Project is under-explored and highly structurally complex, with multiple orientations of high-grade gold mineralization and in excess of 1,500 historic workings and old trenching Several target styles are present, including “Fosterville-type” anticline-fault related targets, large scale planar faults and fault breccias, “Woods Point-A1 style” intrusion-hosted orogenic gold targets and an intrusion-related gold (“IRG”) system Drilling will target a shoot on the Leven Star trend where historic reverse circulation (RC) drilling intersected 7 m @ 4.84 g/t Au (LSCR014) including 3m @ 9.38 g/t Au from 54 m and 4.1 m @ 13.1 g/t Au from 66.3 m (LSDDH08)1. These historical results are not necessarily representative of mineralization throughout the Malmsbury Project Within the most complex part of the system, drilling will also target a highly altered gold-mineralized Devonian monzogranite which is rare in Victoria and outcrops over 340 m strike and 40 m width Forward work program includes a further second phase of drilling in 2022, 2D/3D induced polarization (“IP”) to define disseminated sulphide haloes around various gold targets, further expansion of systematic soil geochemistry, mapping, and rock chip sampling VANCOUVER, British Columbia, Dec. 16, 2021 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to advise that drilling has recently commenced (Figure 1) on a number of high-priority gold targets (Figure 2) at the Malmsbury Project (RL6587), approximately 50 km SSW of the high-grade Fosterville gold mine. Targeting has relied on significant exploration work conducted by the Novo/GBM team throughout 2021, including detailed 1:500 scale mapping, rock chip and grid soil sampling, 3D modelling and an airborne FALCON® gravity survey. Novo acquired a 50% interest in the Malmsbury Project...