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Novo Resources Corp.
Summary
| Project: | Blue Spec | |
|---|---|---|
| Deposit: | Blue Spec | |
| Location: | Australia | |
| Commodities: | Gold-Antimony | |
| Date: | 11/1/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-11-2016: Novo Resources Corp. announces an Exploration/Drilling Update report for its Blue Spec deposit at the Blue Spec project. Drilling results incl. 2.55m @ 59.1g/t Au, 2.2% Sb from 482.45m. VANCOUVER, BC, November 1, 2016 - Novo Resources Corp. (“N | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Quinton Hennigh (Internal) | |
| ABSTRACT: | VANCOUVER, BC, November 1, 2016 - Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce first assay results from recent drilling at its 100% controlled Blue Spec gold-antimony project, Western Australia. Hole 16BSDH004, a south-oriented diamond core hole drilled at -65 degrees, encountered 82.3 gpt Au and 3.1% Sb over 1.8 meters within a broader interval of 59.1 gpt Au and 2.2% Sb over 2.55 meters along the eastern fringe of the Blue Spec deposit (please refer to Figure 1). True width of the vein is approximately half the length of reported intervals. The high-grade intercept in hole 16BSDH004 is similar in grade and thickness to nearby historic drill intercepts and indicates the high-grade Blue Spec deposit is open where it plunges steeply east. Further step out holes are currently being drilled to target this area. Hole 16BSDH001, a south-oriented reverse circulation (“RC”) hole drilled at -60 degrees, encountered two significant gold zones along the western fringe of the Blue Spec deposit. An intercept from the Blue Spec lode includes 4.2 gpt Au over 3.00 meters within 2.8 gpt Au over 7.00 meters. A second interval of 6.0 gpt Au over 1.00 meter appears to be from a splay zone paralleling the Blue Spec deposit to the south. True width of these veins is approximately half the length of reported intervals. “We are encouraged by these early high grade results,” commented Dr. Quinton Hennigh, President, CEO and a director of Novo Resources Corp. “The Blue Spec deposit appears to be open down plunge to the east. We are currently targeting this area with further holes to further determine the extent of mineralization.” Novo currently has a truck mounted RC drill and a diamond core drill operating at its 100% controlled Blue Spec high-grade gold project, Western Australia. A third drill, a track mounted RC drill, recently arrived on site and will be testing new targets along the greater Blue Spec shear zone. | |
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