Commenting on the results delivered from drilling, Novo's Executive Co-Chairman, acting Chief Executive Officer, and director
'We know this region is highly prospective and we will continue to systematically test compelling targets to build each project in size and scale. The team in
The Company has recently completed an 11-hole, 3,162 m diamond drill program at the
Novo exercised its option over the
Novo exercised its option over the
Results referred to in this news release are not necessarily representative of mineralization throughout the
DETAILS
Drilling Program Update
All gold and multi-element assays have now been returned from the 11-hole, 3,162 m diamond drilling program at the
Table 1 below highlights new >1 gram metre results reported for drill holes MD20, MD21 and MD22 testing reef-related mineralization. Intersections presented for MD20 are considered at or near true width. An oblique component to the intersections in both MD21 and MD22 is interpreted. True width intersections will reduce for MD21 and MD22 when mineralization is interpreted and modelled.
ABOUT NOVO
Novo explores and develops its prospective land package covering approximately 10,500 square kilometres in the Pilbara region of
Forward-looking information
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, diamond drilling planned for H1 2023 will test remaining high-priority mapping targets at Malmsbury, in addition to developing high-grade ore shoot potential on the Leven Star Reef and key significant results from the recent diamond campaign, that gold and multi-element assays for MD22 are pending, that the IP survey aims to identify potential 'sulphide-rich target,' zones within the granite (IRGS) target corridor, in addition to delineating disseminated sulphide haloes around high-priority gold reef targets and will also aide in delineating key prospective structural corridors in addition to providing useful information on preferred litho-stratigraphic domains, that additional ground magnetics and ground gravity acquisition will take approximately 6 weeks to complete and will run commensurate with the current IP survey to help refine and expand the current geophysical targets, that synthesis of all available ground and airborne magnetic and gravity data with the current IP survey in progress will form a critical component to aide prioritisation of numerous high-calibre targets for upcoming diamond drill testing in H1 2023, and that various programs are scheduled to be undertaken in Q4 2022 and H1 2023. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the resource industry and the risk factors identified in Novo's management's discussion and analysis for the nine-month period ended
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