New (June 6, 2013) NOVO drilling plans.
posted on
Jun 06, 2013 11:03AM
Witswatersrand 2.0 in Australia ?
(via Thenewswire.ca)
VANCOUVER, June 6, 2013 - Novo Resources Corp. (the "Company") (CNSX: NVO; OTCQX: NSRPF) is pleased to announce it has received all required regulatory approvals for proposed step-out reverse circulation (RC) drilling at its Beatons Creek Gold Project, Western Australia. The goal of the 2013 drill program will be to aggressively expand the 421,000 troy ounce gold inferred resource (8.9 million tonnes at a grade of 1.47 grams gold per tonne) announced in the Company's press release dated May 1, 2013 and detailed in a National Instrument 43-101 technical report dated May 1, 2013...
"Last year, we quickly advanced Beatons Creek from a conceptual drill target to a 421,000 troy ounce gold inferred resource at a cost of about $6 per troy ounce," commented Dr. Quinton Hennigh, President and CEO of Novo Resources. "Our recent mapping and sampling in adjacent areas provides strong evidence that the same gold-bearing reefs underlie a much broader area at shallow depths, generally less than 100 meters. Because of this, we feel confident we can quickly expand upon this resource by aggressively drilling an array of shallow RC holes within the nearly four square kilometer target area. With about $4.6 million in the bank, we are well-positioned to advance this exciting target."
The targeted area covers nearly four square kilometers and gold-bearing conglomerate horizons (reefs) are believed to be generally shallow, within 100 meters of surface (see attached target map). The Company has over 200 new holes permitted. Drilling is expected to begin in July and the initial holes will be drilled on Novo's 100% controlled ground.
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Excellent news!
Rek