Company News – Thu 15 Feb, 2018

By Cory Novo Commences Work at Comet Well and Updates Results From Purdy’s Reward

This news is from yesterday but I will be chatting with Quinton tomorrow evening so I wanted to post this to see if anyone has any questions. Please comment or email me at Fleck@kereport.com.

Click here for the most recent interview with Quinton.

Here’s the news…

Novo Resources Corp. (“Novo” or the “Company”) (TSX-V:NVO) (OTCQX:NSRPF) is pleased to announce its 2018 exploration program at its Karratha gold project has begun. Diamond drilling and trenching have recently been initiated at Comet Well. At Purdy’s Reward, additional bulk sample results have returned allowing for planning of follow up work in this area. Comet Well, a farm-in and joint venture Novo has with two Pilbara-based prospectors, and Purdy’s Reward, a farm-in and joint venture Novo has with ASX-listed Artemis Resources Limited, are both part of Novo’s greater Karratha gold project located in the Pilbara region of Western Australia.

Exploration Program at Comet Well

Scout diamond core drilling recently commenced along a 2.5 km long, 500 m wide, northeast-trending corridor extending from areas drilled last year at Purdy’s Reward to an intensely prospected area called the Powerline showing on the Comet Well tenements (Figure 1). This drill program is designed to evaluate the position, thickness and dip of gold-bearing conglomerates that subcrop along the length of this corridor.

Novo plans to drill vertical scout holes along this corridor on a 200 m grid, and more tightly spaced holes in areas where trenching will occur in order to better understand subsurface geology before bulk sampling commences. Bulk sampling will be the means by which Novo anticipates evaluating gold grades of the targeted conglomerates. Initial drilling encompasses approximately 60 holes and is expected to be completed over about three months.

The first few diamond core holes at the Powerline showing have revealed thick intercepts of conglomerate. Holes collared in the Mt Roe basalt, the cap rock to the conglomerate sequence, have encountered 30 to 35 meter intercepts of conglomerate before entering the dolerite footwall at the base. Given the dip appears to be quite shallow, less than 10 degrees, these intervals are probably close to true thicknesses. Interestingly, the uppermost beds of conglomerate encountered in these holes resemble those seen at Purdy’s Reward. The lowermost 15 m of conglomerate appears unique to the Powerline area. In places, boulder clasts in this lower unit are over 1 m across and are ubiquitously well rounded. Pyrite, both detrital and late, appears frequently.

Novo’s first trench at the Powerline showing has exposed the lower conglomerate unit seen in core drilling. Metal detecting has readily identified numerous strikes within exposed bedrock. A video showing Novo staff detecting and marking the bottom of the first trench can be accessed at https://www.youtube.com/watch?v=Xxm-SftswLs. Unlike at Purdy’s Reward where most gold nuggets appear to occur near the base of the conglomerate sequence, detector strikes have been noted in multiple horizons above the basal contact at Powerline (Figure 2). Several …read more

Source:: The Korelin Economics Report

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