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  • Novo Resources (NVO) has identified a series of new targets in the northern sector of the company’s Egina Project
  • The new targets include multiple discrete magnetic targets identified from detailed aeromagnetic interpretation
  • The project is located in the company’s prospective land package covering approximately 13,250 square kilometres in the Pilbara region of Western Australia
  • Exploration planned for 2022 includes high-resolution aeromagnetics, regolith and basement mapping, grid soil sampling and drilling to test priority targets
  • Novo Resources is down 1.84 per cent, trading at $1.60 at 12:29 pm ET

Novo Resources (NVO) has identified a series of new targets in the northern sector of the company’s Egina Project.

The project is located in the Vancouver company’s prospective land package covering approximately 13,250 square kilometres in the Pilbara region of Western Australia.

The new targets include multiple discrete magnetic targets identified from detailed aeromagnetic interpretation.

Novo has identified multiple discrete untested aeromagnetic anomalies with magnetic characteristics comparable to the “Hemi-style” gold-bearing sanukitoid intrusions being developed by De Grey Mining Ltd.

Exploration planned for early 2022 includes high-resolution aeromagnetics, regolith and basement mapping, grid soil sampling and drilling to test these priority targets.

“Novo’s exploration team has been diligently reviewing the northern portion of its Egina land holdings for prospectivity for Hemi-type discoveries. Numerous potential intrusive centers resembling sanukitoids like those at Hemi exist along a NE trending corridor extending from Novo’s tenure to Hemi. At Becher, a coincident Au-As-Sb soil anomaly is associated with an interpreted cluster of such intrusions. Novo plans to undertake high-resolution aeromagnetics, regolith and basement mapping and grid soil sampling in preparation for drilling in 2022,” said Non-Executive Co-Chairman and director Dr. Quinton Hennigh.

Historical data analysis is ongoing at Egina, with further geophysical and structural interpretation to aid in drill targeting to be completed early in 2022.

Drilling is planned to test intrusive targets defined by high-resolution aeromagnetics, the extensive, coincident Au-As-Sb soil anomalies at Becher and targets defined by historic RAB drilling.

Novo Resources is down 1.84 per cent, trading at $1.60 at 12:29 pm ET.

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