Novo Resources Corp. [NVO-TSX; NSRPF-OTCQX] provided an update on recent exploration work conducted at its 100%-controlled Talga Gold Project approximately 110 km north of the company’s flagship Beatons Creek conglomerate gold project (the Nullagine Gold Project) in northwestern Australia.
During July and August 2021, sixty-five shallow RC holes were drilled for a total of 3,240 metres, testing three targets along the mineralized corridor. This program constitutes the first phase of drilling, with holes spaced 80 x 20 metres on sections along the mineralized corridor, and with most holes only targeting the first (shallowest) shear.
Drilling at the NW Australian prospect, within the Talga Gold Project, intersected 3 metres at 25.5 g/t gold from 28 metres and 3 metres at 23.3 g/t gold from 11 metres in the upper shear horizon in two adjacent sections. The high-grade gold results are supported up and down dip with intersections showing the same target position.
Elevated intersections at McPhees NE and McPhees Reward, both prospects within the Talga Gold Project, confirm and extend historical intersections. Of note is the intersection of 2 metres at 7.4 g/t gold in hole 21TT0053 from 38 metres. Follow up drilling, planned for early 2022, will now directly target these high-grade gold
“We are excited by these promising results from the Talga Gold Project,” commented Dr. Quinton Hennigh, the company’s Non-Executive Co-Chairman and a director. “Since committing to an A$14.5 million exploration budget through the end of 2021 and accelerating exploration efforts, Novo has been able to target near-mine and regional prospects in an effort to develop its exploration and production pipeline, including additional work anticipated to commence at the Genie and Parnell-Vulture prospects in the coming weeks.”
The Talga Gold Project is one of Novo’s East Pilbara assets. Gold occurs in lode quartz veins hosted by metamorphosed volcanic and sedimentary rocks of the Warrawoona Supergroup, the same Formation that hosts the Calidus Resources Limited [CAI-ASX] Warrawoona gold project approximately 35 km south of the Talga Gold Project which is currently being developed and is expected to go into production during H1 2021.
During July and August 2021, sixty-five shallow RC holes were drilled for a total of 3,240 metres, testing three targets along the mineralized corridor. This program constitutes the first phase of drilling, with holes nominally 80 x 20-metre spaced on sections along the mineralized corridor, and with most holes only targeting the first (shallowest) shear.
Follow up drilling can now directly target these high-grade gold plunging shoots to better determine strike extent and depth potential and is planned for early 2022.
Novo is commissioning its flagship Beatons Creek gold project while exploring and developing its prospective land package covering approximately 13,250 km2 in the Pilbara region of Western Australia.