March 29, 2017 4:20 AM ET

Metals and Mining

Company Overview of Novo Resources Corp.

Company Overview

Novo Resources Corp., together with its subsidiaries, evaluates, acquires, and explores for gold properties in Canada, Australia, and the United States. The company holds a 100% interest in the Beatons Creek Tenements; and a 70% interest in the Pilbara Paleoplacer gold project consisting of the Beatons Creek and Marble Bar paleoplacer gold projects covering an area of approximately 1,800 square kilometers located in Western Australia. The company was formerly known as Galliard Resources Corp. and changed its name to Novo Resources Corp. in June 2011. Novo Resources Corp. was incorporated in 2009 and is headquartered in Vancouver, Canada.

1075 West Georgia Street

Suite 1980

Vancouver, BC V6E 3C9

Canada

Founded in 2009

Phone:

604-688-9588

Fax:

778-329-9361

Key Executives for Novo Resources Corp.

Chief Executive Officer, President and Director
Age: 49
Total Annual Compensation: C$194.4K
Chief Financial Officer, Secretary and Non-Independent Director
Age: 50
Total Annual Compensation: C$24.0K
Compensation as of Fiscal Year 2016.

Novo Resources Corp. Key Developments

Novo Resources Corp. Updates Activity at its Beatons Creek and Blue Spec Gold Projects, Western Australia

Novo Resources Corp. provided an update on activities at its 100% controlled Beatons Creek and Blue Spec gold projects, Western Australia. Beatons Creek: Bulk sample material was treated through the Company's IGR3000 gravity test plant late last year. Cyanidation was found to be exceptionally effective at recovering gold from this sample. Recoveries exceeded 97% within just 12 hours of leaching, even at a coarse grind size of 212 microns (0.212 mm). Lime consumption was low, ranging from 0.87 to 1.51 kg/tonne, and NaCN consumption was very low, ranging from 0.15 to 0.40 kg/tonne. Blue Spec: Novo has received final assays from its drill campaign at it Blue Spec gold-antimony project late last year. Blue Spec is a high-grade vein system with strong exploration potential. Step-Out Drilling East of Blue Spec Novo completed seven reverse circulation and core holes in areas east of the Blue Spec high-grade deposit. All holes were drilled from north to south at inclinations of 55-70 degrees, and were designed to test for extensions of mineralization. Holes 16BSDH016 and 16BSDH035 tested areas immediately above the projected high- grade core of Blue Spec and between the Blue Spec zone and the Red Spec zone further east. Both holes encountered significant gold mineralization including 5.01 gpt Au over 3 m and 3.97 gpt over 1.2 m, respectively, suggesting there is a probability that Blue Spec and Red Spec may link together. While these grades are lower than those encountered in Blue Spec's high-grade core, Novo believes these results indicate the high-grade core may be present immediately below this area. Hole 16BSDH039 clipped the lower edge of Blue Spec's high-grade core encountering 9.81 gpt Au over 1 m. This hole was intended to intersect the high-grade core approximately 20 meters to the east, but deviated westward thus missing its intended target. Nevertheless, Novo believes the strong gold intercept that was encountered is indicative of the margin of the high-grade core. Hole 16BSDH024 tested regions approximately 50 m below Blue Spec's high grade core encountering 2.19 gpt Au over 1.6 m on the projected plane of the Blue Spec deposit and 2.14 gpt Au over 6 m on a separate splay structure located south of the Blue Spec zone. Holes 16BSDH007 and 16BSDH008 tested eastern extensions of the Blue Spec zone at shallower depths (<200 m). Both holes encountered anomalous gold where they crossed the plane of the Blue Spec zone. Similarly, hole 16BSDH029 encountered anomalous gold in a shallow location east of the Red Spec zone. Reviewing this drill data, Novo considers the best potential to expand mineralization at Blue Spec lies in the down-plunge direction to the east and under the Red Spec area. Further drilling is needed to verify this possibility. True widths of mineralized intercepts are estimated to be approximately 30-40% of reported down-hole intervals.

Novo Resources Corp. Presents at 85th Annual PDAC Conference, Mar-07-2017 02:00 PM

Novo Resources Corp. Presents at 85th Annual PDAC Conference, Mar-07-2017 02:00 PM. Venue: Metro Toronto Convention Centre, Toronto, Ontario, Canada. Speakers: Quinton Todd Hennigh, Chief Executive Officer, President and Director.

Novo Resources Corp. Receives Positive Metallurgical Results from Beatons Creek Gold Project, Western Australia

Novo Resources Corp. announced metallurgical test results from its 100% controlled Beatons Creek gold project, Western Australia. In December, Novo collected a composite sample of tailings originating from recently processed bulk sample material that was treated through the company’s IGR3000 gravity test plant late last year. This sample was submitted to ALS Metallurgy, Perth for cyanidation studies. Six tests were run on 1 kg splits at various grind sizes and NaCN concentrations. Calculated head grades range from 1.85 to 3.28 gpt Au and average 2.16 gpt Au. Recoveries are very high, exceeding 98%, apparently irrespective of the various grind sizes that were tested up to 80% passing a 212 micron (0.212 mm) mesh screen. Leach times are very short, all samples exceeding 97% recovery within just 12 hours. Recoveries exceed 98% irrespective of NaCN concentration, the lowest concentration being 0.5 kg/tonne. Lime consumption is low, ranging from 0.87 to 1.51 kg/tonne, and NaCN consumption is very low, ranging from 0.15 to 0.40 kg/tonne.

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