Significant Copper, Nickel and Gold Results From Karratha District

Rhea-AI Summary

Diamond drilling at NRV06 intersected extensive zones of disseminated Ni and Cu sulphides, with preliminary assays indicating up to 0.95% Ni and 0.25% Cu. At Morto Lago, notable intercepts include: 3 m @ 3.35 g/t Au, 4 m @ 6.74 g/t Au, and 5 m @ 1.73 g/t Au. Drill results from the Milburn anomaly yielded significant Cu, Ni, and Co assays, providing optimism for future exploration in the Karratha District. Novo Resources is committed to ongoing drilling and downhole EM surveys to enhance its exploration strategy, reinforcing its position in the Pilbara region.

Positive

• Significant gold intercepts at Morto Lago: 3 m @ 3.35 g/t Au, 4 m @ 6.74 g/t Au, 5 m @ 1.73 g/t Au.
• Promising drill results from Milburn anomaly with multiple high-value Cu-Ni-Co assays.
• Commitment to continuous drilling and downhole EM surveys to identify new targets.
• Dominant landholding in the Pilbara enhances exploration potential.

Negative

• None.

HIGHLIGHTS

• Diamond drilling at NRV06 successfully intersected zones over several metres of disseminated to stringer style Ni and Cu sulphide (pentlandite and chalcopyrite) in the Andover Intrusion (assays pending), with spot assaying using a pXRF of up to 0.95% Ni and 0.25% Cu.
• Drilling at the Morto Lago target delivered key intercepts (0.3 g/t Au cut-off) of:
  • 3 m @ 3.35 g/t Au from 9 m in KC329;
  • 4 m @ 6.74 g/t Au from 8 m (4 m composite) in KC365; and
  • 5 m @ 1.73 g/t Au from 15 m including 2 m @ 4.06 g/t Au from 18 m in KC369.
• Results from drilling at the Milburn FLEM anomaly, interpreted up dip of the Artemis Chapman Prospect¹, include:
  • 13 m @ 0.39% Cu, 0.19% Ni and 0.013% Co from 92 m (KC354), including 3 m @ 0.59% Cu, 0.34% Ni and 0.021% Co from 94 m;
  • 18 m @ 0.34% Cu, 0.24% Ni and 0.015% Co from 67 m (KC355), including 6 m @ 0.46% Cu, 0.32% Ni and 0.016% Co from 67 m;
  • 5 m @ 0.65% Cu, 0.40% Ni and 0.02% Co from 12 m (KC356); and
  • 19 m @ 0.35% Cu, 0.18% Ni and 0.012% Co from 60 m (KC360), including 8 m @ 0.48% Cu, 0.24% Ni and 0.014% Co from 70 m.
• These promising assay results are reported from Novo’s drilling program in the Karratha District, where Novo is exploring for high-grade Au (Cu-Co) adjacent to Artemis Resources Limited’s (“Artemis”) (ASX:ARV) Carlow Castle Au (Cu-Co) discovery (“Carlow Castle”) and Ni-Cu-Co adjacent to Azure Minerals Limited’s (“Azure”) (ASX:AZS) Andover Ni-Cu-Co discovery (“Andover”).
• Novo is currently conducting downhole EM (“DHEM”) on Ni-Cu-Co targets at the Southcourt, NRV06, and Milburn Prospects.

Commenting on the precious and base metal results generated in the Karratha District, Mr. Mike Spreadborough, Novo’s Executive Co-Chairman, Director, and acting Chief Executive Officer said,

“This set of assays from our widespread drill program in the Karratha District has generated exciting results. We are fortunate to control a dominant landholding in the Pilbara, which comprises a strong pipeline of exploration targets and we are committed to investing in the drill bit as we strive to deliver discovery success and build long-term shareholder value.”

“The high-grade results from the Morto Lago area and positive results from the Milburn area provide us with a compelling platform to continue our aggressive approach to exploration in 2023. We await the next set of assays from 47k and 48K, Sullam, NRV06, Southcourt and Morto Lago North and will also complete downhole EM surveys which will generate the next set of drill targets.”

VANCOUVER, British Columbia, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to provide an exploration update on the Company’s drilling program in the Karratha District, located within Novo’s 10,500 sq km Pilbara exploration portfolio (Figure 1).

Figure 1: Novo’s Pilbara tenements and project location.
https://www.globenewswire.com/NewsRoom/AttachmentNg/eefa8df7-dfc3-4ef0-bac2-643dd0bd86e1

A key focus of Novo’s gold and battery metals exploration strategy² is the systematic and rapid progression of drilling advanced targets in the Karratha District, particularly within the Purdy’s North area (Figure 2), located adjacent to Azure’s Andover discovery and Artemis’s Carlow Castle discovery.

Novo has completed a first-pass exploration drilling program in the Karratha District, focused on testing numerous prospects for structurally controlled high-grade Au (Cu-Co) mineralization, and magmatic Ni-Cu-Co mineralization in the Andover Intrusion and associated mafic-ultramafic intrusions. Results referred to in this news release are not necessarily representative of mineralization throughout the Purdy’s North project.

101 RC drill holes (KC312 to 407) for 12,408 m and 3 diamond drill holes for 556.2 m (KD902 to 904) have been completed. Drilling tested the following key prospects:

• Au targets at Morto Lago, 47K and 48K; and
• Ni-Cu-Co targets at Southcourt, NRV06, Milburn and Sullam.

Diamond drilling successfully intersected zones over several metres of disseminated to stringer style Ni and Cu sulphides, in ultramafic rocks of the Andover Intrusion at NRV06, with assays pending. Portable XRF assaying (pXRF) indicated that pentlandite and chalcopyrite are present, with spot assays of up to 0.95% Ni and 0.25% Cu.

Figure 2: Prospect location at Purdy's North and the Maitland/Dingo intrusive areas³.
https://www.globenewswire.com/NewsRoom/AttachmentNg/ad8d692e-a47b-4410-a647-45132217af62

Figure 3: Hole KD902 at approximately 103.52 m, showing disseminated and stringer sulphides. Spot assays of sulphide with pXRF yielded 0.79% Ni and 0.21% Cu.
https://www.globenewswire.com/NewsRoom/AttachmentNg/d6b66a9b-bcdc-41c7-885a-f09fc9eaacbb

Drilling at Morto Lago (Figure 2) included sectional traverses at 160 m spacings and holes 40 m apart. Elsewhere, reconnaissance style drilling included single hole tests or a few sections with 1 to 3 drill holes. Nineteen drill holes have been cased with 40 mm poly pipe in order to conduct DHEM with 11 loops planned, in order to test a number of targets for massive to sub-massive Ni sulphide bodies adjacent to holes already drilled. This high-priority geophysical survey is currently in progress.

Results have been received for drill holes up to KC381, with results pending for a number of areas including 47k and 48K, Sullam, NRV06 and parts of Southcourt and Morto Lago.

Results from the Morto Lago area include best intercepts (0.3 g/t Au cut-off) of:

• 3 m @ 3.35 g/t Au from 9 m KC329;
• 4 m @ 6.74 g/t Au from 8 m (4 m composite) in KC365; and
• 5 m @ 1.73 g/t Au from 15 m including 2 m @ 4.06 g/t Au from 18 m in KC369
  

The true width of these intercepts is unknown as the target is covered by clay overburden. Refer to Table 1 in Appendix 1 below for a listing of drill results.

Results from the Milburn FLEM anomaly, interpreted to be the up dip of the Artemis Chapman Prospect¹, include:

• 13 m @ 0.39% Cu, 0.19% Ni and 0.013% Co from 92 m (KC354), including 3 m @ 0.59% Cu, 0.34% Ni and 0.021% Co from 94 m;
• 18 m @ 0.34% Cu, 0.24% Ni and 0.015% Co from 67 m (KC355), including 6 m @ 0.46% Cu, 0.32% Ni and 0.016% Co from 67 m;
• 5 m @ 0.65% Cu, 0.40% Ni and 0.02% Co from 12 m (KC356); and
• 19 m @ 0.35% Cu, 0.18% Ni and 0.012% Co from 60 m (KC360), including 8 m @ 0.48% Cu, 0.24% Ni and 0.014% Co from 70 m.

These results are interpreted to be >80% true width. Refer to Table 2 and 3 in Appendix below for a listing of significant drill results.

True width intersections may reduce for gold targets once geological setting is fully understood, however current widths for nickel-copper targets are predicted to be true widths.

Figure 4: RC drill rig at the Morto Lago Prospect, in the Karratha District.
https://www.globenewswire.com/NewsRoom/AttachmentNg/e1e217fa-d6db-40e3-96d2-833f220c0976

Figure 5: Novo geologists logging diamond core at the NRV06 Prospect.
https://www.globenewswire.com/NewsRoom/AttachmentNg/cb4f1e29-dc33-4579-b457-88163dc68ec0

ANALYTIC METHODOLOGY

Drill holes targeting gold

RC drilling was sampled as either 4 m composite samples using a spear, or if visual parameters such as percentage of quartz veins or sulphide mineralization, or alteration intensity were deemed to warrant, as 1 m cone splits directly off the drill rig. Any 4 m composite samples that contain > 0.1 g/t Au mineralization on receival of results were re-submitted as 1 m cone split samples. Thus, all samples containing gold mineralization in 4 m composites, or any intervals with significant signs of potential mineralization, were assayed as cone splits. All RC chips as 1 to 4 kg samples were sent to Intertek Genalysis (“Intertek”) in Perth, Western Australia with the entire sample smart crushed to -3 mm (NVO02 prep code), with a 500 g split sample analyzed for gold using PhotonAssay^TM (PHXR/AU01). QAQC protocols included insertion of a certified blank approximately every 50 samples (2 per hundred 500g coarse blank CRMS) certified standards for PhotonAssay^TM Au at approximately every 50 samples and duplicate sampling (split of 4 m composite) at the rate of 4 per hundred. Further to this, Intertek inserts customized Chrysos certified standards at the rate of 2 per hundred.

Drill holes targeting Ni-Cu-Co

RC drilling was sampled as either 4 metre composite samples using a spear, or if visual parameters such as sulphide mineralization were deemed to warrant, as 1 m cone splits directly off the drill rig. All RC chips as 1 to 4 kg samples were sent to Intertek in Perth, Western Australia and were crushed and pulverized and assayed for Au, Pt and Pd by four acid digest and 50 g charge fire assay (FA50/MS) and for 48 multielement using four acid digest – MS finish (4A/MS). QAQC protocols included insertion of a certified blank approximately every 25 samples (4 per hundred, 2 of which are 500 g coarse blank CRMS and two of which are 60 g pulverised -80# CRMs), certified standards for Ni, Cu and Co approximately every 25 samples and duplicate sampling (split of 4 m composite) at the rate of 4 per hundred.

pXRF

The pXRF assay technique utilized a Niton XL5 handheld XRF machine. The Niton XL5 is calibrated daily, with 4 QAQC standards (fit for purpose including certified Ni, Cu and Co values) run concurrently, with an additional 2 standards checked per 100 readings and 4 QAQC standard assayed before the machine is shut down. pXRF is utilized as a preliminary exploration technique for base metals. Drill core samples are point analysed for 90 seconds using 4 machine filters. The pXRF is a spot reading device and has diminished precision due to grainsize effect, especially on rock samples where peak results represent a window of < 10 mm field of view. The pXRF usage on core as stated in this release, is not representative of the entire interval, rather representative of a small area of certain sulphide minerals or clusters of sulphide minerals and related wall rocks.

There were no limitations to the verification process and all relevant data was verified by a qualified person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) by reviewing analytical procedures undertaken by Intertek.

QP STATEMENT

Mr. Iain Groves (MAIG), is the qualified person, as defined under NI 43-101, responsible for, and having reviewed and approved, the technical information contained in this news release. Mr. Groves is Novo’s Exploration Manger – West Pilbara.

ABOUT NOVO

Novo explores and develops its prospective land package covering approximately 10,500 square kilometres in the Pilbara region of Western Australia, including the Beatons Creek gold project, along with two joint ventures in the Bendigo region of Victoria, Australia. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its stakeholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com.

On Behalf of the Board of Directors,

Novo Resources Corp.

“Michael Spreadborough”

Michael Spreadborough

Executive Co-Chairman and Acting CEO

Forward-looking information

Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, planned exploration activities across the Purdy’s North project. 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 September 30, 2022, which is available under Novo’s profile on SEDAR at www.sedar.com. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Novo assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Novo updates any forward-looking statement(s), no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.

APPENDIX:
Table 1: Karratha Area – RC and DD drilling data - hole locations.

HOLE ID	COORDSYS	EASTING	NORTHING	RL	AZI GRID	DIP	TYPE	DEPTH	LEASE
KC312	MGA94_50	509119.5	7698400.2	24.0	180	-55	RC	80	E47/1745
KC313	MGA94_50	509119.9	7698799.3	22.6	360	-55	RC	84	E47/1745
KC314	MGA94_50	509120.0	7698807.8	22.5	180	-55	RC	36	E47/1745
KC315	MGA94_50	509119.4	7698599.4	23.2	180	-55	RC	90	E47/1745
KC316	MGA94_50	509123.2	7698639.4	22.9	180	-55	RC	118	E47/1745
KC317	MGA94_50	509119.8	7698557.0	23.0	360	-55	RC	108	E47/1745
KC318	MGA94_50	509120.1	7698519.5	22.8	360	-55	RC	115	E47/1745
KC319	MGA94_50	509118.4	7698598.8	23.2	360	-55	RC	108	E47/1745
KC320	MGA94_50	509118.1	7698681.8	22.6	360	-55	RC	80	E47/1745
KC321	MGA94_50	509117.5	7698721.1	22.7	360	-55	RC	90	E47/1745
KC322	MGA94_50	509118.4	7698762.0	22.7	360	-55	RC	72	E47/1745
KC323	MGA94_50	509118.4	7698481.0	23.2	360	-55	RC	180	E47/1745
KC324	MGA94_50	509117.9	7698439.9	23.3	360	-55	RC	84	E47/1745
KC325	MGA94_50	509038.7	7698600.5	23.4	360	-55	RC	78	E47/1745
KC326	MGA94_50	509038.5	7698560.5	23.7	360	-55	RC	108	E47/1745
KC327	MGA94_50	509039.7	7698519.9	23.5	360	-55	RC	144	E47/1745
KC328	MGA94_50	509279.5	7698720.0	22.1	360	-55	RC	84	E47/1745
KC329	MGA94_50	509279.5	7698680.3	22.0	360	-55	RC	78	E47/1745
KC330	MGA94_50	509279.5	7698641.4	21.9	360	-55	RC	108	E47/1745
KC331	MGA94_50	509279.4	7698597.8	21.9	360	-55	RC	162	E47/1745
KC332	MGA94_50	509440.4	7698719.8	21.4	360	-55	RC	102	E47/1745
KC333	MGA94_50	509277.1	7698561.2	22.0	360	-55	RC	102	E47/1745
KC334	MGA94_50	509277.6	7698511.8	22.2	360	-55	RC	150	E47/1745
KC335	MGA94_50	509440.2	7698680.0	21.5	360	-55	RC	170	E47/1745
KC336	MGA94_50	509440.3	7698762.6	21.3	360	-55	RC	90	E47/1745
KC337	MGA94_50	509440.6	7698801.3	21.1	360	-55	RC	95	E47/1745
KC338	MGA94_50	509439.3	7698841.4	20.8	360	-55	RC	84	E47/1745
KC339	MGA94_50	509440.1	7698638.5	21.3	360	-55	RC	78	E47/1745
KC340	MGA94_50	509440.1	7698599.9	21.3	360	-55	RC	78	E47/1745
KC341	MGA94_50	509441.0	7698558.7	21.3	360	-55	RC	96	E47/1745
KC342	MGA94_50	509038.7	7698481.8	23.4	360	-55	RC	120	E47/1745
KC343	MGA94_50	508781.3	7698826.9	24.7	320	-55	RC	96	E47/1745
KC344	MGA94_50	508799.6	7698921.0	23.9	360	-55	RC	96	E47/1745
KC345	MGA94_50	508800.4	7698881.6	24.2	360	-55	RC	126	E47/1745
KC346	MGA94_50	508801.2	7698841.2	24.6	360	-55	RC	138	E47/1745
KC347	MGA94_50	508959.7	7698961.8	23.3	360	-55	RC	84	E47/1745
KC348	MGA94_50	508960.1	7698920.9	23.2	360	-55	RC	126	E47/1745
KC349	MGA94_50	508958.0	7698878.7	23.2	360	-55	RC	150	E47/1745
KC350	MGA94_50	508961.0	7698921.1	23.2	180	-55	RC	48	E47/1745
KC351	MGA94_50	508983.1	7698406.2	24.6	70	-55	RC	102	E47/1745
KC352	MGA94_50	508944.2	7698390.5	24.9	70	-55	RC	120	E47/1745
KC353	MGA94_50	508824.2	7698351.2	26.8	70	-55	RC	163	E47/1745
KC354	MGA94_50	508861.4	7698292.5	28.3	70	-55	RC	162	E47/1745
KC355	MGA94_50	508861.7	7698184.7	27.1	70	-55	RC	132	E47/1745
KC356	MGA94_50	508971.3	7698213.4	25.0	70	-55	RC	60	E47/1745
KC357	MGA94_50	509003.4	7698223.6	24.6	70	-55	RC	132	E47/1745
KC358	MGA94_50	509038.1	7698059.8	25.5	70	-55	RC	126	E47/1745
KC359	MGA94_50	509075.4	7698081.3	24.9	70	-55	RC	96	E47/1745
KC360	MGA94_50	508883.9	7698209.8	28.4	70	-55	RC	114	E47/1745
KC361	MGA94_50	509018.4	7697876.8	24.9	145	-55	RC	120	E47/1745
KC362	MGA94_50	509062.3	7697807.5	24.4	145	-55	RC	78	E47/1745
KC363	MGA94_50	509017.7	7697878.1	24.9	325	-55	RC	174	E47/1745
KC364	MGA94_50	508991.4	7698042.7	25.3	70	-55	RC	126	E47/1745
KC365	MGA94_50	508798.2	7698963.4	23.3	360	-55	RC	108	E47/1745
KC366	MGA94_50	508996.0	7698915.8	23.2	270	-55	RC	150	E47/1745
KC367	MGA94_50	509120.8	7698960.1	22.2	360	-55	RC	96	E47/1745
KC368	MGA94_50	509119.9	7698922.1	22.6	360	-55	RC	90	E47/1745
KC369	MGA94_50	509120.0	7698880.0	22.6	360	-55	RC	72	E47/1745
KC370	MGA94_50	509120.0	7698840.1	22.5	360	-55	RC	84	E47/1745
KC371	MGA94_50	508361.4	7694962.7	52.9	180	-55	RC	186	E47/1745
KC372	MGA94_50	508874.2	7695032.6	47.8	270	-55	RC	138	E47/1745
KC373	MGA94_50	508805.7	7694810.4	51.3	110	-55	RC	180	E47/1745
KC374	MGA94_50	486654.2	7673820.8	69.3	239	-60	RC	126	E47/3443
KC375	MGA94_50	486730.6	7673778.0	69.4	239	-60	RC	150	E47/3443
KC376	MGA94_50	486680.0	7673933.0	69.2	240	-55	RC	144	E47/3443
KC377	MGA94_50	509294.7	7695000.2	49.6	175	-50	RC	270	E47/1745
KC378	MGA94_50	507460.4	7695044.8	52.5	345	-55	RC	150	E47/1745
KC379	MGA94_50	507480.0	7694997.6	53.6	345	-55	RC	258	E47/1745
KC380	MGA94_50	507526.5	7694972.9	53.3	195	-55	RC	228	E47/1745
KC381	MGA94_50	509218.5	7695030.3	51.5	209	-50	RC	324	E47/1745
KC382	MGA94_50	508796.2	7694801.9	51.6	180	-55	RC	336	E47/1745
KC383	MGA94_50	508565.1	7694948.0	51.7	150	-55	RC	336	E47/1745
KC384	MGA94_50	491903.6	7676161.3	87.1	325	-55	RC	60	E47/3443
KC385	MGA94_50	491915.1	7676143.8	87.3	325	-55	RC	186	E47/3443
KC386	MGA94_50	491930.3	7676121.7	87.2	325	-55	RC	138	E47/3443
KC387	MGA94_50	491941.2	7676094.9	86.7	325	-55	RC	198	E47/3443
KC388	MGA94_50	491795.7	7676315.6	92.9	60	-55	RC	252	E47/3443
KC389	MGA94_50	491973.0	7676711.9	96.9	155	-55	RC	60	E47/3443
KC390	MGA94_50	492019.2	7676656.1	96.9	330	-55	RC	198	E47/3443
KC391	MGA94_50	492002.5	7676679.4	96.8	330	-50	RC	78	E47/3443
KC392	MGA94_50	491407.2	7676346.4	97.2	150	-50	RC	78	E47/3443
KC393	MGA94_50	492064.8	7674733.7	87.1	325	-55	RC	78	E47/3443
KC394	MGA94_50	492075.2	7674695.5	87.7	325	-55	RC	150	E47/3443
KC395	MGA94_50	491990.6	7674696.4	90.6	330	-55	RC	78	E47/3443
KC396	MGA94_50	501718.9	7676317.2	87.7	300	-55	RC	66	P47/1847
KC397	MGA94_50	501717.8	7676317.8	87.7	300	-70	RC	318	P47/1847
KC398	MGA94_50	501665.2	7676190.9	81.4	300	-70	RC	318	P47/1847
KD901A	MGA94_50	507391.7	7695360.2	76.1	298	-50	RC	3	E47/1745
KD901	MGA94_50	507391.7	7695360.2	76.1	298	-50	RC	122	E47/1745
KD902	MGA94_50	507550.0	7695342.2	73.3	170	-50	RCDD	316	E47/1745
KC399	MGA94_50	509280.6	7698960.2	22.3	360	-55	RC	78	E47/1745
KC400	MGA94_50	509279.9	7698922.3	21.6	360	-55	RC	78	E47/1745
KC401	MGA94_50	509280.6	7698879.2	21.3	360	-55	RC	78	E47/1745
KC402	MGA94_50	509280.8	7698838.3	22.0	360	-55	RC	78	E47/1745
KC403	MGA94_50	509280.8	7698801.2	22.0	360	-55	RC	78	E47/1745
KC404	MGA94_50	509280.2	7698759.5	22.1	360	-55	RC	42	E47/1745
KD903	MGA94_50	507533.4	7695464.8	59.4	170	-50	RCDD	198.1	E47/1745
KC405	MGA94_50	509760.4	7698883.0	21.2	360	-55	RC	72	E47/1745
KC406	MGA94_50	509760.3	7698839.6	21.0	360	-55	RC	78	E47/1745
KC407	MGA94_50	509763.2	7698800.1	20.1	360	-55	RC	78	E47/1745
KD904	MGA94_50	507517.8	7695523.1	57.9	315	-50	RCDD	242.1	E47/1745

Table 2: Karratha Area – Significant RC Au assay results >0.1 g/t Au, carried up to 2 m internal dilution

Hole Id	From m	To m	method	Au ppm	Co ppm	Cu ppm	Ni ppm	Zn ppm	Width	gram metres
KC317	28	33	CONE	0.242					5	1
KC317	65	66	CONE	0.28					1	0
KC318	76	80	COMP	0.73					4	3
KC321	66	70	COMP	0.1					4	0
KC323	5	6	CONE	1.01					1	1
KC323	18	22	COMP	0.17					4	1
KC323	42	46	COMP	0.37					4	1
KC323	164	165	CONE	0.27					1	0
KC324	27	28	CONE	0.14					1	0
KC327	15	16	CONE	0.31					1	0
KC329	9	13	CONE	2.56					4	10
KC329	17	18	CONE	0.16					1	0
KC330	72	75	CONE	0.253					3	1
KC331	82	83	CONE	0.12					1	0
KC331	95	97	CONE	0.67					2	1
KC331	146	148	CONE	0.425					2	1
KC333	7	8	CONE	1.39					1	1
KC333	31	32	CONE	0.27					1	0
KC333	39	41	CONE	0.205					2	0
KC333	59	61	CONE	2					2	4
KC333	74	78	CONE	0.453					4	2
KC335	90	93	CONE	0.2					3	1
KC335	147	150	CONE	0.37					3	1
KC336	40	41	CONE	0.201	17	18	10	95	1	0
KC338	1	4	COMP	0.127					3	0
KC339	48	56	COMP	0.537					8	4
KC340	72	76	COMP	0.185					4	1
KC342	22	27	CONE	0.176					5	1
KC342	52	56	COMP	0.147					4	1
KC342	68	72	CONE	0.524					4	2
KC343	54	58	COMP	0.291					4	1
KC344	72	73	CONE	0.104	21	2127	8	60	1	0
KC344	74	75	CONE	0.103	15	1544	10	51	1	0
KC344	86	90	CONE	0.717	25	1992	12	112	4	3
KC345	90	91	CONE	0.183	34	6761	6	272	1	0
KC345	94	95	CONE	0.118	20	2442	5	132	1	0
KC345	97	105	CONE	0.133	19	2167	9	103	8	1
KC345	115	120	CONE	0.263	35	1747	29	45	5	1
KC347	59	60	CONE	0.42	47	1367	162	133	1	0
KC348	50	54	COMP	0.26					4	1
KC349	82	84	CONE	0.415	9	2867	7	103	2	1
KC349	134	135	CONE	0.11	25	151	5	10	1	0
KC349	136	137	CONE	0.128	148	914	24	27	1	0
KC349	144	145	CONE	0.119	11	142	6	36	1	0
KC351	23	24	CONE	0.108	50	4760	286	52	1	0
KC351	30	31	CONE	0.137	26	1745	95	43	1	0
KC351	53	54	CONE	0.251	45	88	174	110	1	0
KC352	44	45	CONE	0.114	27	3237	191	47	1	0
KC352	96	100	COMP	0.102	51	88	128	110	4	0
KC354	73	74	CONE	0.222	61	1345	1028	83	1	0
KC354	105	106	CONE	0.265	147	5232	1617	87	1	0
KC354	129	130	CONE	0.399	14	57	6	51	1	0
KC358	12	15	CONE	0.103	158	2310	1942	105	3	0
KC358	74	75	CONE	0.123	31	804	51	84	1	0
KC363	20	24	COMP	0.164	325	8757	0	2388	4	1
KC364	34	36	COMP	0.251	254	1113	2153	94	2	1
KC365	8	16	COMP	3.463					8	28
KC365	42	49	CONE	0.101					7	1
KC365	55	62	CONE	0.128					7	1
KC365	68	73	CONE	0.126					5	1
KC366	0	4	COMP	0.795					4	3
KC367	18	22	COMP	0.305					4	1
KC367	42	43	CONE	0.255					1	0
KC368	58	59	CONE	0.105					1	0
KC369	8	12	COMP	0.683					4	3
KC369	15	20	CONE	1.735					5	9
KC369	30	31	CONE	0.23					1	0
KC369	49	50	CONE	0.106					1	0
KC381	216	220	COMP	0.288	129	54	1557	80	4	1

Table 3: Karratha Area – Significant RC Au assay results >1000 ppm Cu carried up to 2 m internal dilution

Hole Id	From m	To m	method	Cu ppm	Ni ppm	Co ppm	Au ppm	Ag ppm	Width
KC360	60	79	CONE	3489	1829	121	0.016	2.1	19
KC355	67	87	CONE	3264	2278	142	0.019	2.0	20
KC358	5	32	CONE	2224	1914	133	0.035	1.1	27
KC354	92	109	CONE	3322	1542	110	0.034	1.8	17
KC356	4	17	COMP	3476	2213	129	0.014	1.9	13
KC359	0	16	COMP	2744	1486	105	0.03	1.0	16
KC363	20	24	COMP	8757	0	325	0.164	9.7	4
KC364	62	72	CONE	2161	2023	120	0.014	1.1	10
KC351	21	31	CONE	2115	165	33	0.056	1.4	10
KC364	30	46	COMP	1311	1646	140	0.053	0.7	16
KC345	97	105	CONE	2167	9	19	0.133	2.4	8
KC358	45	50	CONE	3071	2375	115	0.021	1.4	5
KC345	90	95	CONE	2810	5	33	0.089	4.5	5
KC352	42	46	CONE	2724	155	27	0.065	2.2	4
KC344	70	76	CONE	1719	10	20	0.073	1.6	6
KC353	126	127	CONE	10229	185	46	0.081	7.5	1
KC353	104	109	CONE	2003	1403	114	0.017	0.7	5
KC345	115	120	CONE	1747	29	35	0.263	1.6	5
KC344	88	89	CONE	7088	15	34	0.999	4.0	1
KC360	52	56	COMP	1739	903	82	0.004	1.0	4
KC361	10	15	CONE	1328	2095	146	0.006	0.2	5
KC349	82	84	CONE	2867	7	9	0.415	3.0	2
KC352	37	38	CONE	2421	1513	142	0.012	1.0	1
KC353	94	95	CONE	1673	1260	70	0.01	0.7	1
KC359	37	38	CONE	1431	844	65	0.008	0.6	1
KC347	59	60	CONE	1367	162	47	0.42	12.5	1
KC354	73	74	CONE	1345	1028	61	0.222	0.4	1
KC352	73	74	CONE	1330	209	60	0.031	1.2	1
KC353	91	92	CONE	1226	1400	113	0.007	0.5	1
KC363	51	52	CONE	1106	1098	111	0.006	0.8	1
KC353	89	90	CONE	1106	310	53	0.01	0.4	1
KC345	84	85	CONE	1100	17	18	0.025	1.0	1
KC352	19	20	CONE	1048	1035	62	0.013	0.1	1

_______________________________________________________

1 Refer to Artemis’ public disclosure record
2 Refer to the Company’s news release dated August 2, 2022.
3 Refer to Artemis’ and Azure’s public disclosure records.

FAQ

What were the key findings from Novo Resources' latest drilling at NRV06?

Novo Resources reported intersecting significant zones of disseminated Ni and Cu sulphides at NRV06, with preliminary assays indicating up to 0.95% Ni and 0.25% Cu.

What gold intercepts were reported at Morto Lago?

At Morto Lago, Novo Resources reported notable intercepts: 3 m @ 3.35 g/t Au, 4 m @ 6.74 g/t Au, and 5 m @ 1.73 g/t Au.

How are the results from the Milburn anomaly described?

The results from the Milburn anomaly include significant assays: 13 m @ 0.39% Cu, 0.19% Ni, and 0.013% Co, providing positive prospects for future exploration.

What is Novo Resources' exploration strategy in the Karratha District?

Novo Resources aims for systematic and rapid progression of drilling advanced targets in the Karratha District, focusing on high-grade Au and Ni-Cu-Co mineralization.

What is the significance of the assays pending from Novo Resources' drilling program?

The pending assays are crucial as they will provide further insights into the mineralization potential of Novo's exploration targets in the Karratha District.