Novo Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Novo Resources Corp. (NVO) updates on the Parnell-Vulture trend on the Nullagine Gold Project in Western Australia
  • Drilling completed before the holiday period was made up of 83 holes for 5,200 metres, drilled by contractor Stark Drilling
  • Assay results indicating significant gold results have been received from Parnell
  • The quick assay turnaround indicates best drilling intersections can be followed up immediately while the program is ongoing
  • The most significant results are located around the historic workings at Parnell, including 4 metres at 10.19 g/t gold in hole 21NU0196
  • Novo Resources Corp. (NVO) is up 0.89 per cent trading at $1.13 per share as of 2:03 p.m. EST

Novo Resources Corp. (NVO) has provided updates on the Parnell-Vulture trend on the Nullagine Gold Project in Western Australia.

The drilling planned at Parnell and Vulture is part of the exploration program ramp-up, with programs currently being generated at several priority targets.

Drilling completed before the holiday period was made up of 83 holes for 5,200 metres, drilled by contractor Stark Drilling.

The initial program at Parnell focused on every alternate planned drill line to fast track strike coverage. Assay results indicating significant gold results have been received from Parnell.

The quick assay turnaround indicates best drilling intersections can be followed up immediately while the program is ongoing.

Further results from holes drilled prior to the holiday period will be released in the coming weeks

Parnell – Vulture covers a strike length of approximately 2 kilometres and contains a series of vein-hosted targets with historical drill intercepts.

The results are not representative of mineralization throughout the district.

Recent results for Parnell-Vulture show similar width and grade tenor as historical drilling intersections, indicating potential strike extent.

The most significant results are located around the historic workings at Parnell, including 4 metres at 10.19 g/t gold in hole 21NU0196.

The main target is approximately 10-metre-wide trending shear variably intruded by porphyry.

Results show good continuity along strike and on section show numerous small but frequent high-grade shoot like components.

Further infill and extensional drilling will be designed to test this area.

Novo Resources Corp. (NVO) is up 0.89 per cent trading at $1.13 per share as of 2:03 p.m. EST.

More From The Market Herald
Barrick Gold - CEO, Mark Bristow

" Barrick Gold (TSX:ABX) announces $70M investment in Tanzanian communities

Barrick Gold Corporation (ABX) has announced a $70 million investment to support the development and infrastructure of Tanzanian mine communities.

" Durango (TSXV:DGO) closes $515K flow through financing

Durango Resources (DGO) has closed its private placement for gross proceeds of C$515,500.
Tocvan Ventures (CSE:TOC) - CEO, Brodie Sutherland.

" Colibri (CBI) and Tocvan (TOC) report gold discoveries at Pilar Gold & Silver Project

Tocvan Ventures (TOC) and Colibri Resource Corp (CBI) have received drilling results from the Pilar Project.

" Pure Gold Mining (TSXV:PGM) closes $31M non-brokered private placement

Pure Gold Mining (PGM) has closed the final tranche of a non-brokered private placement for total gross proceeds of C$31,086,144.