honkytonkgirl1 schreef op 5 november 2017 14:03:
www.novoresources.com/news-media/news...Novo Encounters Fine Gold in Trenching at Purdy’s Reward
VANCOUVER, British Columbia, Nov. 02, 2017 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX-V:NVO) (OTCQX:NSRPF) is pleased to provide an update on exploration activities at the Purdy’s Reward tenement, a farm-in and joint venture Novo has with ASX-listed Artemis Resources Limited and part of Novo’s greater Karratha gold project, Western Australia. As core drilling has progressed to areas further down dip (please refer to the Company’s news release dated October 17, 2017 for further information), Novo has commenced a program of systematic trenching in areas of outcropping and sub cropping gold-bearing conglomerates. Novo has opened seven trenches with an eighth underway (please see Figure 1 below) and many more planned. Trenches are being dug with a 40-tonne excavator and range in depth from one to three meters. All trenches have encountered targeted conglomerate units with the exception of trench 5 which encountered older basement rocks.
Photos accompanying this announcement are available at
www.globenewswire.com/NewsRoom/Attach...www.globenewswire.com/NewsRoom/Attach...www.globenewswire.com/NewsRoom/Attach...www.globenewswire.com/NewsRoom/Attach...www.globenewswire.com/NewsRoom/Attach...www.globenewswire.com/NewsRoom/Attach...Upon opening, the geology of each trench is mapped and marked in preparation for sampling (please see Figure 2 below). Select walls and floors are swept with a metal detector, and strikes are marked with paint and geo-referenced with a differential GPS system. Sampling is generally conducted in areas that have not been swept with a metal detector so as to avoid sampling bias. Samples are collected in sealable steel drums. Novo has hired full-time, independent scrutineers to oversee all sampling activities and seal sample drums.
As observed in recent core holes, conglomerate horizons are interbedded with thin sandstone layers (please see Figure 3 below). Beds dip at shallow angles, generally less than five degrees, southeast. The lowermost conglomerate unit rests unconformably atop older basement rocks including gabbro, metabasalt and metasedimentary rocks. Up to eight discrete conglomerate beds are evident with some displaying characteristics of a fluvial (river) origin and others displaying traits suggesting reworking in a shallow marine environment. Novo considers the depositional environment to be near-shore with sea level rising and falling over time, an environment suited for reworking of gravels and concentrating gold.
Gold mineralization at Purdy’s is generally coarse and nuggety. A bulk sample collected in July 2017 was subjected for metallurgical test work and was found to contain appreciable fine grained gold (please refer to the Company’s news release dated August 8, 2017 for further details). To further investigate the presence of fine-grained gold, Novo personnel collected, sieved and panned several grab samples from recently opened trenches. As an example, three grab samples from the lower two conglomerate units exposed in trench 2 yielded significant fine-grained gold (please see Figures 4, 5 and 6 below). While it is important to note that these samples do not provide quantitative gold analyses, they serve to confirm a component of fine-grained gold is present in the system and results to date have not provided Novo with clarity. A deportment study is currently underway that should help provide such understanding.
“We are pleased to see this level of fine gold and are excited to commence our trenching program in earnest at Purdy’s Reward,” commented Dr. Quinton Hennigh, President, Chairman and Director of Novo Resources Corp. “Information gathered from these trenches is already proving invaluable. The geology is telling us we are in a favorable geologic environment. We have further indications of a significant fine-grained gold component in this system, something that could prove to be very important as we evaluate this project. Bulk samples extracted from trenches will prove critical to helping establish gold grades. In short, this is our first close-up view of this deposit, and we are quite excited by what we see.”