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Novo Resources files updated Beatons Creek Technical report

Mining News - Published on Wed, 15 May 2019

Image Source: novoresources.com
Novo Resources Corp announced that it has filed a technical report prepared pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects ("Nl 43-101") related to its April 1,2019 news release announcing the increased resource estimate for its Beatons Creek Gold Project, Western Australia (the "2019 Resource Estimate"). The independent technical report, entitled "Nl 43-101 Technical Report, Mineral Resource Update, Beatons Creek Conglomerate Gold Project, Pilbara Region, Western Australia" (the "2019 Technical Report"), with an effective date of February 28, 2019 and an issue date of May 13, 2019, was prepared for Novo by Dr. Simon C. Dominy (FAusIMM (CPGeo)) of Surrey, UK and Dr. Quinton T. Hennigh (P.Geo.) of Longmont, USA. Dr. Dominy and Dr. Hennigh are qualified persons as defined under Nl 43-101.

Highlights:
• The updated 2019 Resource Estimate includes a 30% increase in tonnes driven predominantly by an improved geological framework from the recent diamond drilling program compared to the previous 2018 estimate supported by the technical report titled "Nl 43-101 Technical Report Resource Update, Beatons Creek Gold Project, Pilbara Region, Australia" issued on November 20, 2018 (the "2018 Resource Estimate") and filed on SEDAR (www.sedar.com) under the Company's profile on November 21,2018.
• The new model sees an increase of 115,000 oz Au (+33%) in the Indicated Mineral Resource category (over the 2018 Resource Estimate's Measured + Indicated) within the Open Pit.
• Recent three-stage gravity recoverable gold ("GRG'') test work on the fresh mineralization achieved a gravity recovery in the range of 89-95%.
• The expanded 2019 Resource Estimate, along with Beatons Creek's high metallurgical recovery (+97% gravity + carbon-in-leach; please refer to the Company's news release dated March 7, 2017 for further details), make it the premier gold deposit in the Nullagine mining camp in the eastern Pilbara region.
• Mineralization remains open to the north-west and south-west with several areas identified for resource development drilling.

Source :

Posted By : Rabi Wangkhem on Wed, 15 May 2019
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