Novo Resources drills of 7.75 g/t gold over 7.0 metres at Nullagine, Australia

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Novo Resources Corp. [NVO-TSX; NSRPF-OTCQX] provided a drilling update for the Parnell-Vulture trend in Western Australia. The RC drilling planned at Parnell and Vulture is part of the Nullagine gold project (NGP) exploration program ramp-up, with forward programs currently being generated at several priority basement targets. Parnell-Vulture is located some 45 km from the company’s Golden Eagle processing facility and is accessed by a reliable haul road and associated infrastructure.

The initial program at Parnell focused on every alternate planned drill line, in order to fast-track strike coverage. The quick assay turnaround means that best drilling intersections can be followed up immediately whilst the remainder of the program is continuing.

Highlights include the first phase of a 15,000-metre reverse circulation (RC) drilling program across shallow oxide mineralization on granted mining leases at the Parnell-Vulture trend was completed prior to the 2021 holiday period, with 83 holes drilled for a total of 5,200 metres;

PhotonAssay gold results from Parnell have been received, with significant assays including seven meres at 7.75 g/t gold from 31 metres in hole 21NU0198. Hole 21NU0196 returned four metres at 10.19 g/t gold from 31 metres Hole 21NU0156 returned 13 metres at 2.51 g/t gold from 21 metres. Hole 21NU0156 returned eight metres at 3.14 g/t gold from four metres.

Initial results received from Vulture include eight metres at 10.02 g/t gold from 11 metres in hole 21NU0216. Further results from holes drilled prior to the holiday period will be released in coming weeks;

Drilling on the Parnell-Vulture trend is scheduled to resume January 24, 2022.

Parnell-Vulture covers a strike length of approximately 2 km and contains a series of vein-hosted targets with historical drill intercepts including nine metres at 8.4 g/t gold from seven metres, 12 metres at 14.6 g/t gold from 40 metres and seven metres at 6.1 g/t gold from 40 metres. These results are not necessarily representative of mineralization throughout the district.

Recent results for Parnell-Vulture show similar width and grade tenor as historical drilling intersections, improving confidence in historical data and potential strike extent.

Most significant results are located around the historic workings at Parnell, including four m at 10.19 g/t gold in hole 21NU0196. The main target is an approximately 10-metre wide east-west- to west-northwest-trending shear variably intruded by porphyry. Mineralization dips moderately to steeply to the south (generally 70 degrees).

Results show good continuity along strike, and on section show numerous small but frequent high-grade shoot like components. Further infill and extensional drilling will be designed to test this area.

Importantly, a series of significant drill intersections are located approximately 550 metres along strike to the northwest, including 13 metres at 2.51 g/t gold from 21 mteres in hole 21NU0156, and eight metres at 3.14 g/t gold from four metres in 21NU0156. This shows the complexity of the system at Parnell and the scale potential of the system along strike. In addition, the six metres at 5.28 g/t gold from 29 metres in 21NU0204 is located to the north of Parnell in one of the mapped vein swarms.

Assays received to date also included the first batch from Vulture, including eight m at 10.02 g/t gold from 11 metres in 21NU0216 drilled adjacent to a historical working and in an area of complex quartz veining. Historical results in this area are sparse, and include a best result of 12 metres at 2.76 g/t gold. All other results from Vulture are pending.

Novo operates 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.


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