(via Thenewswire.ca)
VANCOUVER, August 21, 2012 - Novo Resources Corp. (the "Company") (CNSX: NVO; OTCQX: NSRPF) is pleased to provide an update on its Beatons Creek Gold Project, Western Australia. Leachwell (cyanide leach) gold analyses have been received from 43 reverse circulation drill holes completed at the Grants Hill target, an area where a series of shallowly dipping, gold-bearing conglomerate reefs outcrop. Results include 35 meters at 2.08 grams per tonne (gpt) gold including 3 meters at 14.26 gpt gold in hole BCRC11-002, 18 meters at 5.18 gpt gold including 1 meter at 64.19 gpt gold in hole BCRC11-013 and 11 meters at 4.15 gpt gold including 1 meter at 23.40 gpt gold in hole BCRC12-001 (see attached map and sections).
"We are very pleased with analyses from our first round of drill holes at Beatons Creek," stated Dr. Quinton Hennigh, President and CEO of Novo Resources. "Our initial drill test provides solid evidence that gold-bearing conglomerate beds underlie areas away from outcrops and historic workings at the Grants Hill target. Grants Hill is one of several locations in which gold-bearing conglomerates have been identified at Beatons Creek. Over the coming months, we plan aggressive drilling not only on Grants Hill, but on multiple new high priority targets."
Summary of Leachwell analyses from reverse circulation drill holes at Grants Hill
------------------------------------------------------------------ |Hole |From |To |Length |Gold | |Length|Gold (oz| | |(meters)|(meters)|(meters)|(grams| |(feet |per | | | | | |per | | |ton) | | | | | |tonne)| | | | |----------------------------------------------------------------| |BCRC11-001|69 |73 |4 |0.36 | |13.1 |0.011 | |----------------------------------------------------------------| | |100 |104 |4 |0.40 | |13.1 |0.012 | |----------------------------------------------------------------| |BCRC11-002|5 |40 |35 |2.08 | |114.8 |0.061 | |----------------------------------------------------------------| |including |20 |36 |16 |4.29 | |52.5 |0.125 | |----------------------------------------------------------------| |including |22 |23 |1 |14.01 | |3.3 |0.409 | |----------------------------------------------------------------| |including |28 |31 |3 |14.26 | |9.8 |0.416 | |----------------------------------------------------------------| |BCRC11-003|48 |73 |25 |1.28 | |82.0 |0.037 | |----------------------------------------------------------------| |including |68 |70 |2 |8.54 | |6.6 |0.249 | |----------------------------------------------------------------| |BCRC11-004|73 |89 |16 |0.48 | |52.5 |0.014 | |----------------------------------------------------------------| | |114 |118 |4 |2.00 | |13.1 |0.058 | |----------------------------------------------------------------| |including |114 |115 |1 |7.24 | |3.3 |0.211 | |----------------------------------------------------------------| |BCRC11-005|23 |26 |3 |0.34 | |9.8 |0.010 | |----------------------------------------------------------------| | |46 |70 |24 |0.50 | |78.7 |0.015 | |----------------------------------------------------------------| |including |46 |47 |1 |5.76 | |3.3 |0.168 | |----------------------------------------------------------------| |BCRC11-006|24 |26 |2 |0.47 | |6.6 |0.014 | |----------------------------------------------------------------| | |52 |54 |2 |1.69 | |6.6 |0.049 | |----------------------------------------------------------------| | |62 |73 |11 |1.08 | |36.1 |0.032 | |----------------------------------------------------------------| |including |62 |64 |2 |4.27 | |6.6 |0.125 | |----------------------------------------------------------------| |BCRC11-007|40 |64 |24 |1.49 | |78.7 |0.044 | |----------------------------------------------------------------| | including|48 |49 |1 |3.69 | |3.3 |0.108 | |----------------------------------------------------------------| |including |60 |61 |1 |25.28 | |3.3 |0.738 | |----------------------------------------------------------------| |BCRC11-008|19 |24 |5 |0.53 | |16.4 |0.015 | |----------------------------------------------------------------| | |40 |70 |30 |0.98 | |98.4 |0.029 | |----------------------------------------------------------------| |including |40 |41 |1 |13.89 | |3.3 |0.406 | |----------------------------------------------------------------| |including |58 |59 |1 |3.79 | |3.3 |0.111 | |----------------------------------------------------------------| |BCRC11-009|38 |74 |36 |1.36 | |118.1 |0.040 | |----------------------------------------------------------------| |including |44 |46 |2 |9.73 | |6.6 |0.284 | |----------------------------------------------------------------| |including |61 |62 |1 |19.23 | |3.3 |0.562 | |----------------------------------------------------------------| |BCRC11-010|30 |34 |4 |0.42 | |13.1 |0.012 | |----------------------------------------------------------------| | |67 |81 |14 |0.32 | |45.9 |0.009 | |----------------------------------------------------------------| | |96 |109 |13 |0.54 | |42.6 |0.016 | |----------------------------------------------------------------| |BCRC11-011|23 |24 |1 |1.03 | |3.3 |0.030 | |----------------------------------------------------------------| | |74 |83 |9 |0.43 | |29.5 |0.013 | |----------------------------------------------------------------| | |100 |110 |10 |0.51 | |32.8 |0.015 | |----------------------------------------------------------------| |BCRC11-012|31 |50 |19 |1.41 | |62.3 |0.041 | |----------------------------------------------------------------| |including |31 |32 |1 |4.88 | |3.3 |0.142 | |----------------------------------------------------------------| |including |42 |44 |2 |3.55 | |6.6 |0.104 | |----------------------------------------------------------------| |including |49 |50 |1 |4.83 | |3.3 |0.141 | |----------------------------------------------------------------| |BCRC11-013|4 |12 |8 |0.35 | |26.2 |0.010 | |----------------------------------------------------------------| | |26 |44 |18 |5.18 | |59.0 |0.151 | |----------------------------------------------------------------| |including |28 |29 |1 |64.19 | |3.3 |1.874 | |----------------------------------------------------------------| |including |33 |34 |1 |11.54 | |3.3 |0.337 | |----------------------------------------------------------------| |including |37 |38 |1 |3.78 | |3.3 |0.110 | |----------------------------------------------------------------| |BCRC11-014|5 |29 |24 |1.42 | |78.7 |0.041 | |----------------------------------------------------------------| |including |18 |20 |2 |13.28 | |6.6 |0.388 | |----------------------------------------------------------------| |BCRC11-015|68 |75 |7 |1.77 | |23.0 |0.052 | |----------------------------------------------------------------| |including |68 |69 |1 |8.05 | |3.3 |0.235 | |----------------------------------------------------------------| | |125 |127 |2 |0.62 | |6.6 |0.018 | |----------------------------------------------------------------| |BCRC11-016|19 |25 |6 |0.32 | |19.7 |0.009 | |----------------------------------------------------------------| | |47 |54 |7 |0.34 | |23.0 |0.010 | |----------------------------------------------------------------| | |60 |73 |13 |0.41 | |42.6 |0.012 | |----------------------------------------------------------------| |BCRC12-001|14 |25 |11 |4.15 | |36.1 |0.121 | |----------------------------------------------------------------| |including |18 |19 |1 |23.40 | |3.3 |0.683 | |----------------------------------------------------------------| |including |20 |23 |3 |5.42 | |9.8 |0.158 | |----------------------------------------------------------------| | |35 |52 |17 |0.41 | |55.8 |0.012 | |----------------------------------------------------------------| |BCRC12-002|17 |20 |3 |0.65 | |9.8 |0.019 | |----------------------------------------------------------------| | |54 |64 |10 |0.44 | |32.8 |0.013 | |----------------------------------------------------------------| |BCRC12-003|18 |19 |1 |1.47 | |3.3 |0.043 | |----------------------------------------------------------------| | |34 |57 |23 |0.73 | |75.4 |0.021 | |----------------------------------------------------------------| |including |49 |50 |1 |12.79 | |3.3 |0.373 | |----------------------------------------------------------------| |BCRC12-004|32 |36 |4 |0.35 | |13.1 |0.010 | |----------------------------------------------------------------| | |53 |76 |23 |1.86 | |75.4 |0.054 | |----------------------------------------------------------------| |including |53 |54 |1 |37.78 | |3.3 |1.103 | |----------------------------------------------------------------| |BCRC12-005|3 |13 |10 |0.45 | |32.8 |0.013 | |----------------------------------------------------------------| | |21 |37 |16 |0.88 | |52.5 |0.026 | |----------------------------------------------------------------| |including |21 |23 |2 |3.51 | |6.6 |0.102 | |----------------------------------------------------------------| | |45 |48 |3 |0.51 | |9.8 |0.015 | |----------------------------------------------------------------| |BCRC12-006|0 |10 |10 |1.29 | |32.8 |0.038 | |----------------------------------------------------------------| |including |0 |1 |1 |4.46 | |3.3 |0.130 | |----------------------------------------------------------------| | |26 |34 |8 |0.54 | |26.2 |0.016 | |----------------------------------------------------------------| |BCRC12-007|38 |40 |2 |0.58 | |6.6 |0.017 | |----------------------------------------------------------------| | |43 |45 |2 |0.65 | |6.6 |0.019 | |----------------------------------------------------------------| | |51 |55 |4 |0.30 | |13.1 |0.009 | |----------------------------------------------------------------| |BCRC12-008|12 |25 |13 |0.56 | |42.6 |0.016 | |----------------------------------------------------------------| | |49 |53 |4 |0.39 | |13.1 |0.011 | |----------------------------------------------------------------| |BCRC12-009|23 |37 |14 |0.31 | |45.9 |0.009 | |----------------------------------------------------------------| | |68 |70 |2 |0.74 | |6.6 |0.022 | |----------------------------------------------------------------| |BCRC12-010|0 |7 |7 |2.66 | |23.0 |0.078 | |----------------------------------------------------------------| |including |1 |4 |3 |5.04 | |9.8 |0.147 | |----------------------------------------------------------------| | |17 |19 |2 |0.51 | |6.6 |0.015 | |----------------------------------------------------------------| | |54 |58 |4 |0.43 | |13.1 |0.013 | |----------------------------------------------------------------| | |65 |67 |2 |0.60 | |6.6 |0.018 | |----------------------------------------------------------------| |BCRC12-011|74 |76 |2 |0.37 | |6.6 |0.011 | |----------------------------------------------------------------| | |82 |92 |10 |0.40 | |32.8 |0.012 | |----------------------------------------------------------------| |BCRC12-012|70 |73 |3 |0.31 | |9.8 |0.009 | |----------------------------------------------------------------| | |77 |79 |2 |0.30 | |6.6 |0.009 | |----------------------------------------------------------------| | |88 |90 |2 |0.34 | |6.6 |0.010 | |----------------------------------------------------------------| |BCRC12-013|74 |76 |2 |1.35 | |6.6 |0.039 | |----------------------------------------------------------------| | |112 |115 |3 |0.63 | |9.8 |0.018 | |----------------------------------------------------------------| | |122 |127 |5 |0.51 | |16.4 |0.015 | |----------------------------------------------------------------| |BCRC12-014|79 |89 |10 |0.36 | |32.8 |0.011 | |----------------------------------------------------------------| |BCRC12-015|85 |86 |1 |0.50 | |3.3 |0.015 | |----------------------------------------------------------------| | |88 |91 |3 |0.32 | |9.8 |0.009 | |----------------------------------------------------------------| |BCRC12-016|113 |115 |2 |0.33 | |6.6 |0.010 | |----------------------------------------------------------------| |BCRC12-017|151 |156 |5 |0.99 | |16.4 |0.029 | |----------------------------------------------------------------| |BCRC12-018|147 |149 |2 |0.78 | |6.6 |0.023 | |----------------------------------------------------------------| |BCRC12-019|91 |123 |32 |0.70 | |105.0 |0.020 | |----------------------------------------------------------------| |including |91 |92 |1 |9.17 | |3.3 |0.268 | |----------------------------------------------------------------| |including |96 |97 |1 |4.90 | |3.3 |0.143 | |----------------------------------------------------------------| |BCRC12-020|57 |65 |8 |0.32 | |26.2 |0.009 | |----------------------------------------------------------------| | |78 |83 |5 |0.31 | |16.4 |0.009 | |----------------------------------------------------------------| | |101 |105 |4 |0.86 | |13.1 |0.025 | |----------------------------------------------------------------| |BCRC12-021|No significant values | |----------------------------------------------------------------| |BCRC12-022|Hole not drilled | |----------------------------------------------------------------| |BCRC12-023|137 |152 |15 |0.38 | |49.2 |0.011 | |----------------------------------------------------------------| | |159 |162 |3 |0.49 | |9.8 |0.014 | |----------------------------------------------------------------| |BCRC12-024|132 |140 |8 |0.96 | |26.2 |0.028 | |----------------------------------------------------------------| |including |134 |135 |1 |4.81 | |3.3 |0.140 | |----------------------------------------------------------------| | |157 |159 |2 |2.06 | |6.6 |0.060 | |----------------------------------------------------------------| | |166 |167 |1 |0.99 | |3.3 |0.029 | |----------------------------------------------------------------| |BCRC12-025|118 |119 |1 |0.90 | |3.3 |0.026 | |----------------------------------------------------------------| | |126 |133 |7 |0.39 | |23.0 |0.011 | |----------------------------------------------------------------| | |141 |149 |8 |0.37 | |26.2 |0.011 | |----------------------------------------------------------------| |BCRC12-026|117 |148 |31 |0.62 | |101.7 |0.018 | |----------------------------------------------------------------| |including |119 |120 |1 |8.83 | |3.3 |0.258 | |----------------------------------------------------------------| |BCRC12-027|19 |23 |4 |0.35 | |13.1 |0.010 | |----------------------------------------------------------------| | |35 |70 |35 |0.91 | |114.8 |0.027 | |----------------------------------------------------------------| |including |59 |61 |2 |8.21 | |6.6 |0.240 | |----------------------------------------------------------------| | |79 |80 |1 |0.89 | |3.3 |0.026 | |----------------------------------------------------------------| |BCRC12-028|59 |60 |1 |1.97 | |3.3 |0.058 | |----------------------------------------------------------------| | |71 |76 |5 |0.30 | |16.4 |0.009 | |----------------------------------------------------------------| | |99 |110 |11 |0.62 | |36.1 |0.018 | ------------------------------------------------------------------
The target of Novo Resource's exploration at Grants Hill is near-surface gold-bearing conglomerate beds that outcrop along a strike of approximately 800 meters. The gold-bearing conglomerate section is estimated to range from about 15 to 35 meters in true thickness and dip at a shallow angle of about 12-15 degrees. All drill holes reported in this news release are vertical. A lower cut-off of 0.2 gpt gold and internal dilution of no more than four meters was used to calculate the weighted average intervals in the table above. Many drill intercepts include one or two high grade intervals within a broader intercept of lower gold grades. True widths of intercepts are believed to be within 85-95% of interval lengths.
Fire assay results from four meter composite samples from holes BCRC11-001 through BCRC11-016 were reported by Novo Resources in a news release dated February 14, 2012. Due to the nuggety behaviour of gold in some samples, the Company decided to undertake Leachwell analyses on one meter splits from these drill holes as well as the one meter splits from holes BCRC12-001 through BCRC12-028, drilled in the first half of 2012. The Leachwell technique utilizes a large, 1 kilogram, split of pulverized sample thereby reducing the analytic variability associated with coarse particulate gold. Because this technique uses a solution of sodium cyanide to dissolve gold, it also provides a preliminary indication of what levels of gold might be recoverable from these rocks. A selection of 566 samples from these drill holes is currently being analyzed by metallic screen assay. Results of metallic screen assays are expected back within 1-2 months.
Quality Control and Quality Assurance
Reverse circulation drill cuttings were collected from every one meter interval at the drill, logged and sampled by Novo Resources personnel. Samples were prepared and analyzed by Leachwell technique by Intertek-Genalysis Laboratory Services Pty Ltd, Perth, Australia. Leachwell analyses were undertaken on a 1 kilogram split of pulverized sample. Novo Resources personnel submitted quality control samples, including duplicates, standards and blanks.
About Beatons Creek
The Beatons Creek Tenements cover extensive exposures of the Beatons Creek conglomerates, a series of Archaean age pyritic conglomerates hosting gold mineralization similar to that of the Witwatersrand Basin in the Republic of South Africa. Shallow gold reefs were first identified and mined in this area beginning in the late 1800's. Novo Resources current drill program is the first modern, systematic exploration on the property.
Dr. Quinton Hennigh, the Company's Chief Executive Officer, President and Director and a Qualified Person as defined by National Instrument 43-101, has approved the technical contents of this news release. Novo Resources personnel have performed work at Beatons Creek under the supervision of Dr. Hennigh. Dr. Hennigh has verified the data in this news release including review of quality control and quality aspects of assay data here presented.
About Novo Resources Corp.
Novo's focus is to evaluate, acquire and explore natural resource properties and make strategic investments in gold exploration companies. The Company presently has joint ventures earning a 70% interest two exploration properties, Beatons Creek and Marble Bar, situated in Western Australia. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com
On Behalf of the Board of Directors,
Novo Resources Corp.
"Quinton Hennigh"
Quinton Hennigh
CEO and President
The Canadian National Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Forward-looking information
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation), including without limitation statements as to the planned additional drill holes on other high priority targets. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the ability to complete the drilling program as currently contemplated and the receipt of successful results as drilling proceeds.
MAP OF GRANT HILL TARGET
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SECTION A
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SECTION B
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