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Sampling Returns High Grades at Novo Resources Blue Spec Gold-Antimony Project
(via Thenewswire.ca) VANCOUVER, BC / TheNewswire / January 21, 2016 - Novo Resources Cor...
About this update from Novo Resources Corp.
[{"type":"text","content":"Sampling Returns High Grades at Novo Resources Blue Spec Gold-Antimony Project(via Thenewswire.ca)\n\n \nVANCOUVER, BC / TheNewswire / January 21, 2016 - Novo Resources Corp. (\"Novo\" or the \"Company\") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce high grade gold and antimony results from rock chip samples recently collected at its Blue Spec project located near the Company's flagship Beatons Creek project in Western Australia. \n\n\n \nThe Blue Spec gold-antimony project encompasses about 15 km of strike along the Blue Spec shear zone, an east-west trending corridor of steeply dipping structures cutting the 2.9 billion year old Mosquito Creek Formation and hosting gold-antimony mineralization. Mineralization is of orogenic lode vein style and displays multiple stages of deposition. Some low to high grade gold mineralization occurs in quartz-carbonate veins with minor associated sulfides, however, most high grade gold occurs in stibnite+/-quartz veins (please see Figures 1 & 2 below). Stibnite is a Sb-sulfide mineral. This style of gold mineralization is present elsewhere in Australia including at Mandalay Resources' Costerfield mine in Victoria State. \n\n\n \nHigh grade shoots at the Blue Spec and Gold Spec mines collectively host indicated resources of 151,000 tonnes at 21.7 gpt Au (105,300 oz) and 1.7% Sb and inferred resources of 264,000 tonnes at 13.3 gpt Au (112,600 oz) and 1.0% Sb. This historical estimate, disclosed in Northwest's news release of September 30, 2013 and in the mineral resource statement issued by Northwest on the same date (the \"Northwest Disclosure Documents\"), are stated to have been reported in accordance with the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (2012 JORC Code), which are consistent with sections 1.2 and 1.3 of NI 43-101. For the key assumptions, parameters, and methods used to prepare these estimates, please refer to the Northwest Disclosure Documents which are available on Northwest's website (www.nw-resources.com.au). These are the most updated estimates and data available regarding the Blue Spec and Gold Spec deposits (except for the data contained in this news release) and, as such, no work needs to be done at this point in time to upgrade or verify the estimates. Novo is unaware of the existence of any t...