Novo Resources - NSRPF STOCK NEWS

Novo Resources Corp. (OTCQX: NSRPF) announced the launch of a 15,000 m reverse circulation drilling program at the Parnell-Vulture trend, part of its Nullagine gold project. The drilling began in early November 2021, aiming to explore oxide opportunities in a region with a rich history of gold mineralization. Historical drill results showed significant gold intercepts, including 12 m at 14.6 g/t. First assay results are expected by early December 2021, promising advancement in the company's exploration strategies.

Novo Resources Corp. (NSRPF) announced the commissioning of its Steinert KSS 100F LIXT fine mechanical sorting unit, which will be installed in Nullagine, Australia. Phase 2 mechanical sorting trials are set to begin in early December 2021 and will extend through Q2 2022. The trials aim to process bulk samples from Novo's Pilbara gold deposits, focusing on the Comet Well and Purdy’s Reward sites for potential commercialization. This project highlights Novo's innovative technology and commitment to advancing its mining operations.

Novo Resources Corp. (OTCQX: NSRPF) has resumed operations at its Golden Eagle processing facility after completing maintenance on its main crushing unit. The facility underwent about seven days of downtime, during which mining operations continued, resulting in a stockpile of approximately 370,000 tonnes. Additionally, the first phase of the tailings storage facility has been completed, providing an estimated 12 months of processing capacity, with the second phase anticipated to finish in early 2022.

Novo Resources Corp. (OTCQX: NSRPF) has pinpointed new exploration targets at the Egina project in the Pilbara region of Western Australia. Key highlights include the discovery of multiple untested aeromagnetic anomalies similar to those at De Grey Mining’s Hemi gold site, along with two significant Au-As-Sb soil anomalies. Historical drilling by another issuer intersected up to 4.38 g/t Au, although this data remains unverified by Novo. Upcoming exploration efforts for 2022 will focus on high-resolution aeromagnetics, soil sampling, and drilling to validate these promising targets.

Novo Resources Corp. (OTCQX: NSRPF) announced an unforeseen extension of maintenance at its Golden Eagle processing facility due to greater wear on the pitman/swing stock bearing housing than expected. This maintenance commenced on October 30 and is projected to conclude by November 5. While the mill is shut down, mining operations continue unaffected. The company plans to provide an update once the maintenance is complete.

Novo Resources Corp. (OTCQX: NSRPF) announced promising preliminary results from its maiden reverse circulation drilling program at the Genie prospect in Western Australia. Significant findings include 8 m at 4.6 g/t Au and 10 m at 3.0 g/t Au, among others, highlighting the prospect's potential for valuable oxide feed to the nearby Golden Eagle Plant. The mineralization remains open in all directions, with further drilling already underway to expand the discovery. The exploration team focuses on defining the extent of the new style of gold mineralization related to dolerite intrusion.

Novo Resources Corp. (OTCQX: NSRPF) has reported a Q3 2021 operational update highlighting significant gold production of 18,144 oz Au, a 22% increase from 14,890 oz Au in Q2 2021. Despite achieving targeted mining and milling rates, lower head grades were noted due to previous drilling methods, impacting accuracy. Financially, Q3 revenue reached C$43 million, a 36% increase, with a cash balance of C$44.1 million. The company is optimistic about ongoing grade control drilling and has initiated an oxide mining study to enhance production efficiency.

Novo Resources Corp. announced promising results from the Talga Gold Project in Western Australia, where drilling yielded significant gold intersections. Notable results include 3 m at 25.5 g/t Au from 28 m and 3 m at 23.3 g/t Au from 11 m. The drilling program consisted of 65 shallow RC holes totaling 3,240 m, defining a corridor of mineralized structures approximately three kilometers long. Follow-up drilling is planned for early 2022 to further explore these high-grade gold plunging shoots. The company is leveraging PhotonAssay technology to expedite sample analysis.

Novo Resources Corp. (OTCQX: NSRPF) has announced an additional A$2.5M exploration budget to expedite drilling in the Mosquito Creek Basin, home to the Nullagine gold project and Golden Eagle processing facility. Over 25,000 meters of reverse circulation drilling is underway, with identified high-priority targets, including the Parnell-Vulture prospect. Recent mapping and sampling revealed strong gold grading up to 7.8 g/t Au. Historical data is being re-analyzed for further targets. The exploration aims to increase mill feed for the processing facility.