Novo Resources drills 6.74 g/t gold over 4 metres at Karratha, Australia
Novo Resources Corp. [NVO-TSX; NSRPF-OTCQX] provided an exploration update on the drilling program in the Karratha district, located within its 10,500 km2 Pilbara exploration portfolio, Western Australia.
Commenting on the precious and base metal results generated in the Karratha district, Mike Spreadborough, Novo’s executive co-chairman, director, and acting CEO, said: “This set of assays from our widespread drill program in the Karratha District has generated exciting results. We are fortunate to control a dominant landholding in the Pilbara, which comprises a strong pipeline of exploration targets and we are committed to investing in the drill bit as we strive to deliver discovery success and build long-term shareholder value.
“The high-grade results from the Morto Lago area and positive results from the Milburn area provide us with a compelling platform to continue our aggressive approach to exploration in 2023. We await the next set of assays from 47k and 48K, Sullam, NRV06, Southcourt and Morto Lago North and will also complete downhole EM (electromagnetic) surveys which will generate the next set of drill targets.”
A key focus of Novo’s gold and battery metals exploration strategy is the systematic and rapid progression of drilling advanced targets in the Karratha District, particularly within the Purdy’s North area, located adjacent to Azure’s Andover discovery and Artemis’s Carlow Castle discovery.
Novo has completed a first-pass exploration drilling program in the Karratha District, focused on testing numerous prospects for structurally controlled high-grade Au (Cu-Co) mineralization, and magmatic Ni-Cu-Co mineralization in the Andover Intrusion and associated mafic-ultramafic intrusions. Results referred to in this news release are not necessarily representative of mineralization throughout the Purdy’s North project.
A total of 101 RC drill holes (KC312 to 407) for 12,408 metres and 3 diamond drill holes for 556.2 metres (KD902 to 904) have been completed. Drilling tested the following key prospects: gold targets at Morto Lago, 47K and 48K; and Ni-Cu-Co targets at Southcourt, NRV06, Milburn and Sullam.
Diamond drilling successfully intersected zones over several metres of disseminated to stringer style Ni and Cu sulphides, in ultramafic rocks of the Andover Intrusion at NRV06, with assays pending. Portable XRF assaying (pXRF) indicated that pentlandite and chalcopyrite are present, with spot assays of up to 0.95% nickel and 0.25% copper.
Drilling at Morto Lago included sectional traverses at 160 m spacings and holes 40 metres apart. Elsewhere, reconnaissance style drilling included single hole tests or a few sections with 1 to 3 drill holes. Nineteen drill holes have been cased with 40 mm poly pipe in order to conduct DHEM with 11 loops planned, in order to test a number of targets for massive to sub-massive Ni sulphide bodies adjacent to holes already drilled. This high-priority geophysical survey is currently in progress.
Results have been received for drill holes up to KC381, with results pending for a number of areas including 47k and 48K, Sullam, NRV06 and parts of Southcourt and Morto Lago.
Results from the Morto Lago area include best intercepts (0.3 g/t Au cut-off) of 3 metres of 3.35 g/t gold from 9 metres in KC329; 4 metres of 6.74 g/t gold from 8 metres (4 m composite) in KC365; and 5 metres of 1.73 g/t gold from 15 metres, including 2 metres of 4.06 g/t gold from 18 metres in KC369. The true width of these intercepts is unknown as the target is covered by clay overburden.
Results from the Milburn FLEM anomaly, interpreted to be the up dip of the Artemis Chapman Prospect, include 13 metres of 0.39% copper, 0.19% nickel and 0.013% cobalt from 92 metres (KC354), including 3 metres of 0.59% copper, 0.34% Nnickel and 0.021% cobalt from 94 metres; 18 m etres of 0.34% Cu, 0.24% Ni and 0.015% Co from 67 metres (KC355), including 6 metres of 0.46% Cu, 0.32% Ni and 0.016% Co from 67 metres; 5 metres of 0.65% Cu, 0.40% Ni and 0.02% Co from 12 metres (KC356); and 19 metres of 0.35% Cu, 0.18% Ni and 0.012% Co from 60 metres (KC360), including 8 metres of 0.48% Cu, 0.24% Ni and 0.014% Co from 70 metres.
These results are interpreted to be >80% true width. For complete results, refer to drilling tables in original company press release.
True width intersections may reduce for gold targets once geological setting is fully understood, however current widths for nickel-copper targets are predicted to be true.
Novo explores and develops its prospective land package Pilbara region of Western Australia, including the Beatons Creek gold project, along with two joint ventures in the Bendigo region of Victoria, Australia.