Novo Resources provides an operations update for Beatons Creek. In December 20211, Novo released a three-phase mine plan for Beatons Creek which comprised of: Mining of the Beatons Creek Oxide mineral resource through Q2 2022, with the expectation that low-grade stockpiles would be processed through Q3 2022. Thereafter, transition to mining of the higher-grade free-milling Beatons Creek Fresh mineral resource, subject to [...]
Novo Resources Corp. is pleased to advise that it has closed the first tranche of its previously announced sale of 15 million shares of New Found Gold Corp. . A total of 8.25 million New Found shares have been transferred to a corporation controlled by Eric Sprott at C$8.35 per share for gross proceeds of approximately C$68.9 million1. The second tranche of the Transaction, consisting of 6.75 million New Found shares at [...]
KEY POINTS Sumitomo Corporation of Tokyo, Japan has elected to convert its notional interest in Novo's Egina project in Western Australia to an equity stake in Novo1 Novo welcomes Sumitomo as a new shareholder with a twelve-month restricted 1.36% undiluted stake Pursuant to a non-binding memorandum of understanding2 , Novo and Sumitomo are discussing new exploration opportunities inclusive of base metal opportunities on [...]
Novo Resources Corp. advises that Mr. Rob Humphryson has resigned as a director and Chief Executive Officer. The Company would like to thank Mr. Humphryson for his invaluable contributions throughout his tenure at Novo. "Rob was one of the first additions to the Novo team when we officially established our base in Perth, Western Australia in 2017," commented Dr. Quinton Hennigh, Non-Executive Co-Chairman of Novo. "In a [...]
KEY POINTS Novo has agreed to sell its stake of 15 million shares in New Found Gold Corp. to a corporation controlled by Eric Sprott for gross proceeds of C$125.9 million pursuant to arm's length negotiations representing an aggregate 9.3% premium to market Completion of the Transaction will leave Novo debt-free and with a pro-forma cash balance of almost C$97 million1, with funds providing Novo with the flexibility to [...]
No lost-time injuries were recorded during the first quarter of 2022 Q1 2022 production of 13,378 oz Au from Beatons Creek conglomerate gold project , a 4.2% increase over the previous quarter and in line with guidance1 Q1 2022 revenue of C$31.9 million 2, a 6.7% increase over the previous quarter, from the sale of 13,364 oz Au Novo's production forecast for the first half of 2022 is now expected to be between 27 koz to [...]
Novo Resources Corp. is pleased to announce its financial results for the three and twelve-month periods ended December 31, 2021. All amounts are expressed in Canadian dollars, unless otherwise noted. This news release should be read together with Novo's management's discussion and analysis and audited consolidated financial statements for the year ended December 31, 2021 and the eleven-month transitional period ended [...]
HIGHLIGHTS Rock chip sampling at the historic Pilgrims Rest Gold Mine at Station Peak in Western Australia has returned multiple high-grade results over 200 m strike, including 91.16 g/t Au, 30.15 g/t Au, 13.27 g/t Au and 12.08 g/t Au Numerous rock samples assayed >1 g/t Au, with the majority of samples being mineralized > 0.1 g/t Au Results confirm potential for broad zones of mineralization associated with the historic [...]
HIGHLIGHTS Grid soil sampling at the Nunyerry North prospect, located south-west of the Company's Egina District, has defined a coherent high-order gold anomaly over a strike of 640 m and open to the west Ten soil samples returned > 1 g/t Au including 2.3 g/t Au, 2.13 g/t Au, 1.84 g/t Au and 1.59 g/t Au Rock chip sampling returned peak high-grade results from quartz veins including 30.3 g/t Au, 21.1 g/t Au and 19 g/t Au [...]
Novo Resources Corp. is pleased to announce that Novo's exploration team will provide a comprehensive update on exploration activities in Western Australia and Victoria at the following upcoming webinar: Focus Communications & Cory Fleck Wednesday, February 2 @ 1:00pm PST / 4:00pm EST To register and attend the webinar, please use the following link:https://event.webinarjam.com/channel/NovoResources Participants are [...]
HIGHLIGHTS Very large portfolio of Western Australian tenements highly prospective for conglomerate and orogenic/intrusion-related gold deposits, base-metals and battery-metals Accelerating near-mine exploration programs at Nullagine Gold Project , with a 20,000 m reverse circulation drill program underway and completion expected in H1 2022 Successful programs and significant results from initial RC drill programs at [...]
HIGHLIGHTS First phase of a 15,000 metre reverse circulation 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: 7 m at 7.75 g/t gold from 31 m in 21NU0198, 4 m at 10.19 g/t gold [...]
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