Significant New Gold Targets in the Mosquito Creek Basin

Rhea-AI Summary

Novo Resources Corp. (OTCQX: NSRPF) has announced successful results from its new basin-wide exploration strategy in the Mosquito Creek Basin (MCB) in Western Australia. The exploration has identified promising high-priority targets at Finucane and Sayshell, with gold assays reaching up to 907 ppb. Surface rock sampling at Sayshell yielded impressive results of 66.6 g/t and 26.5 g/t gold, with over 240 grams recovered from surface nuggets. Plans for 2023 include aircore drilling at these sites. The new strategy aims to explore under-researched areas, estimating the potential to host more than 100 koz gold, enhancing the company’s exploration portfolio.

Positive

• Identification of high-priority gold targets at Finucane and Sayshell.
• Gold assays at Sayshell up to 66.6 g/t and notable surface nugget recovery.
• New exploration strategy could lead to discovery of over 100 koz gold.

Negative

• None.

• New basin-wide exploration strategy implemented in the Mosquito Creek Basin (“MCB”) proving successful in identifying high priority targets
• New targets identified at Finucane over two parallel zones of gold and pathfinder anomalism in soil sampling, extending the prospective Middle Creek Fault further east. Each zone trends some five kilometres, with gold assays reporting up to 907 ppb

• Surface rock sampling at Sayshell reported assays up to 66.6 g/t gold and 26.5 g/t gold, and ~240 grams of gold was recovered from surface nuggets, with results defining a new mineralised corridor > 500 m in strike, north of the Blue Spec Shear
• Finucane and Sayshell follow-up exploration programs include aircore drilling planned for 2023
• A review of the Beatons Creek gold project (“Beatons Creek”) Mineral Resource¹ is being progressed following completion of drilling in 2022
  

_______________________________________________________________________________________________________________________

“Our exploration team has done an excellent job identifying an exciting pipeline of targets across the Mosquito Creek Basin,” commented Mr. Mike Spreadborough, the Executive Co-Chairman, Acting CEO, and a director of Novo. “When working through the exploration results and geophysical data from 2022, the team identified a compelling opportunity to implement a new basin-wide exploration strategy in the Mosquito Creek Basin focused on identification of targets with the potential to host more than 100 koz gold. Finucane and Sayshell prospects are the first two targets identified in this work for follow up exploration in 2023.

“The Company plans to execute an aggressive exploration program in 2023 as we focus our efforts on systematic exploration across our large Pilbara landholding. I am looking forward to the year as we execute a busy exploration season and seek success via discovery.”

https://www.globenewswire.com/NewsRoom/AttachmentNg/8d6bc82e-80b6-4c21-aaf2-05674995e0b0
Mapping and sampling on the Sayshell structural trend

_________________________
_{¹ Refer to the Company’s news releases dated November 2, 2022 and December 16, 2022.}

VANCOUVER, British Columbia, Feb. 09, 2023 (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 MCB (Figure 1), located in the Nullagine District of Western Australia.

Assay results and geophysical data have now been received for exploration programs completed in 2022, part of a new basin-wide exploration strategy focused on identification of targets in the MCB with the potential to host more than 100 koz gold. Finucane and Sayshell prospects are the first two targets identified in this work for follow up exploration in 2023.

Exploration in 2023 is expected to generate additional opportunities across the MCB by focussing on tenure where limited historical exploration has been conducted by targeting mineralisation under cover and by utilising new techniques for direct targeting.

Results referred to in this news release are not necessarily representative of mineralisation throughout the MCB.

https://www.globenewswire.com/NewsRoom/AttachmentNg/59aa17b2-c6ff-419f-8907-b56b1ab40c13
Figure 1: Location map showing Novo tenure in the Nullagine District

Finucane

During 2022, an infill and extensional soil sampling program was conducted over the Finucane prospect and surrounding area. Existing broad spaced soil sampling showed encouraging results, suggesting extensions to known significant mineralised trends.

Arsenic in soil results is used as a critical pathfinder for gold exploration and is seen to define clear mineralised trends in areas of sufficient soil sampling density. The Middle Creek Fault is well defined by strong gold and arsenic anomalism in soil sampling (Figure 2), up to the Finucane prospect, where sampling density is sparse. The Fault is interpreted to continue east but is poorly constrained around strong deformation related to a major north – south trending fault corridor. The soil sampling results from the Novo program defined two strong parallel coherent arsenic anomalies, now confirming the position of the eastern extension of the Fault and its gold mineralisation potential (Figure 3). Each anomaly is over 5 km in strike length and both have coinciding elevated gold grades, including a best assay of 907 ppb gold. Refer to Appendix 1 for relevant results.

https://www.globenewswire.com/NewsRoom/AttachmentNg/5f3a522d-1c3c-4ecc-adb6-c15a88b0f12f
Figure 2: Novo tenement map highlighting mineralised corridors delineated by arsenic in soils contours

This area is now ready for targeted mapping and rock sampling, with a focus on identifying drill targets to delineate additional gold mineralisation on this tenure, where Novo has retained 100% gold and silver rights².

Sayshell Trend

Novo has consolidated tenure over the Sayshell Trend, a regional structure parallel to the Middle Creek Fault and Blue Spec Shear (Figure 2). Zones of anomalous gold were recognised from disparate historical work from various operators. Novo has commenced systematic soil sampling and field mapping, with some work already completed in 2022, to better define anomalous trends along this under-explored part of the MCB.

Field mapping and rock sampling focussed on an area where initial reconnaissance recovered approximately 240 grams of gold from 300 nuggets at 58 sites from metal detecting earlier in the field season.

_________________________
_{² Refer to the Company’s news release dated December 15, 2022.}

https://www.globenewswire.com/NewsRoom/AttachmentNg/f77b6f5f-c239-4fbb-a343-352546774f1e
Figure 3: Arsenic contours at Finucane, showing the continuation of the Middle Creek Fault

Rock sampling results to date include best results of 66.6 g/t gold and 26.5 g/t gold from 1,006 sample sites collected by Novo. The eastern part of the Sayshell Trend is of particular interest, with identification of a > 500 m strike zone of gold anomalism in potentially gold mineralised quartz vein arrays (Figure 4). Refer to Appendix 1 for relevant results.

New results align with historical data. Additional historical results along strike of the Sayshell Trend and in parallel shears are yet to be followed up with detailed mapping. Historical results were collected by several companies using several methodologies that cannot always be fully validated and are used as a guide for further exploration only. Metal detecting, soil sampling, and detailed mapping will continue in 2023 as a precursor to aircore and/or reverse circulation drilling.

MCB District Exploration

Novo is progressing a new exploration strategy in the MCB focused on identification of targets with the potential to host more than 100 koz gold. Finucane and Sayshell prospects are the first two targets identified in this work for follow up exploration in 2023.

A new strategy for district evaluation at Nullagine commenced in 2022, with additional geophysics to extend gold mineralisation trends and understand structural setting, targeting new mineralisation styles and mineralisation under cover.

https://www.globenewswire.com/NewsRoom/AttachmentNg/2ee1b61c-494e-4b8a-a769-42618aa2d39b
Figure 4: View along a section of the quartz-veined shears of the Sayshell Trend, including nugget locations, surface workings and trends of mineralised quartz vein sets

High resolution gravity data was collected from 5,127 station points at a staggered 150 m by 150 m grid, extending the coverage of the existing detailed gravity survey from 70 sq km to 200 sq km. This survey now covers the entire known position of the Middle Creek Fault, with extensions to the fault just delineated from the Finucane soil sampling program not yet covered.

Gravity data, in conjunction with existing datasets such as high-resolution aeromagnetics and radiometrics, and hyperspectral HyMapper^TM data is used to identify additional drill targets for testing early in the field season. This study has already started to define new previously unknown targets and extensions to new mineralised structural trends such as the Sayshell Trend.

An aircore drilling program is currently being designed to test newly defined targets and target extensions.

Beatons Creek Mineral Resource Review

The Company released an updated Mineral Resource estimate at Beatons Creek in late 2022 which included an Indicated Mineral Resource of 3.05 million tonnes at 2.4 g/t Au for 234,000 oz Au and an additional Inferred Mineral Resource of 0.83 million tonnes at 1.6 g/t Au for 42,000 oz Au³ (the “2022 MRE”).

Development drilling is now completed over Beatons Creek, complimenting the 2022 MRE. The 2022 MRE is being reviewed in the context of final assay results which are anticipated in Q1 of 2023.

_________________________
_{³ Refer to the Company’s news releases dated November 2, 2022 and December 16, 2022, as well as the technical report prepared pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The technical report, entitled “NI 43-101: Mineral Resource Update, Beatons Creek Gold Project, Nullagine, Western Australia” (the “Technical Report”), with an effective date of June 30, 2022 and an issue date of December 16, 2022, was prepared for Novo by Dr. Simon Dominy (FAusIMM(CP) FAIG(RPGeo) FGS(CGeol)), Ms. Janice Graham (MAIG), Mr. Jeremy Ison (FAusIMM), and Mr. Royce McAuslane (FAusIMM) (collectively, the “QPs”). The QPs are qualified persons as defined under NI 43-101. The Technical Report is available under the Company’s profile on the SEDAR website at www.sedar.com (filing date: December 16, 2022) and on the Company’s website at www.novoresources.com.}

QP STATEMENT

Mr. Alwin Van Roij (MAIG, AusIMM) 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, except for technical information pertaining to the 2022 MRE³. Mr. Van Roij is Novo’s Exploration Manager – East Pilbara.

ASSAY METHODOLOGY

The soil sampling program conducted by Novo at Finucane comprises 777 samples and were collected from approximately 10 cm below the surface. Material was sieved to < 400 µm, with the fines sent to Intertek Genalysis (“Intertek”) in Perth for gold and 32 multi-element analysis via 25-gram Aqua Regia digest with an MS finish (Table 1).

Rock samples at Sayshell (Table 2) were collected from outcrop, with comprehensive quantitative and qualitative geological data collected. Approximately 3 – 5 kg of material is collected by hand, representatively sampling across geological features. Samples are submitted to Intertek in Perth, where samples collected in 2022 are crushed and split into two ~ 500-gram jars and assayed for gold using PhotonAssayTM. QAQC protocols included insertion of a certified blank approximately every 50, and PhotonAssayTM certified standards at approximately every 50 samples. Further to this, Intertek inserts certified blank material and standards at the rate of 2 per hundred. One of the PhotonAssayTM jars is then pulverised and analysed for an additional 48 elements using four-acid digest, with an MS finish. Samples collected in 2020 and 2021 were crushed, pulverised, and submitted for gold analysis via 50 gram fire assay.

Metal detecting is conducted with a Minelab GPZ 7000 used by an experienced operator contracted to Novo. All gold is GPS located, and relevant data collected in a nugget register.

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, that the Company is in a strong financial position to commence drilling and execute a busy exploration season and seek success via discovery, the suggestion that there are significant targets in the MCB, that exploration across the MCB in 2023 is expected to target new opportunities and focus on tenure where limited exploration has been conducted including under cover mineralisation by utilising new techniques for direct targeting, that the Finucane area is now ready for targeted mapping and rock sampling, and that Novo is progressing a step-change exploration approach to explore for significant targets in the MCB. 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 1:

Table 1: Finucane significant soil sampling results – greater than 20 ppb gold.

Sample ID	Prospect	Sample Type	Grid ID	Easting	Northing	Au ppb	Method
FNSL0001	Finucane	Soil	MGA94_51	240304	7580904	35	Au_AR25/MS
FNSL0005	Finucane	Soil	MGA94_51	240294	7580504	30	Au_AR25/MS
FNSL0006	Finucane	Soil	MGA94_51	240302	7580405	23	Au_AR25/MS
FNSL0007	Finucane	Soil	MGA94_51	240311	7580341	393	Au_AR25/MS
FNSL0008	Finucane	Soil	MGA94_51	240302	7580300	45	Au_AR25/MS
FNSL0010	Finucane	Soil	MGA94_51	240299	7580204	25	Au_AR25/MS
FNSL0012	Finucane	Soil	MGA94_51	240298	7580101	23	Au_AR25/MS
FNSL0018	Finucane	Soil	MGA94_51	240303	7579796	20	Au_AR25/MS
FNSL0019	Finucane	Soil	MGA94_51	240303	7579753	32	Au_AR25/MS
FNSL0021	Finucane	Soil	MGA94_51	240302	7579701	27	Au_AR25/MS
FNSL0022	Finucane	Soil	MGA94_51	240702	7579708	25	Au_AR25/MS
FNSL0033	Finucane	Soil	MGA94_51	240700	7580201	31	Au_AR25/MS
FNSL0034	Finucane	Soil	MGA94_51	240699	7580254	29	Au_AR25/MS
FNSL0035	Finucane	Soil	MGA94_51	240700	7580304	26	Au_AR25/MS
FNSL0037	Finucane	Soil	MGA94_51	240700	7580403	907	Au_AR25/MS
FNSL0038	Finucane	Soil	MGA94_51	240694	7580500	33	Au_AR25/MS
FNSL0043	Finucane	Soil	MGA94_51	241103	7579703	469	Au_AR25/MS
FNSL0044	Finucane	Soil	MGA94_51	241101	7579755	30	Au_AR25/MS
FNSL0045	Finucane	Soil	MGA94_51	241099	7579805	25	Au_AR25/MS
FNSL0046	Finucane	Soil	MGA94_51	241103	7579858	20	Au_AR25/MS
FNSL0047	Finucane	Soil	MGA94_51	241100	7579904	23	Au_AR25/MS
FNSL0051	Finucane	Soil	MGA94_51	241098	7580055	44	Au_AR25/MS
FNSL0052	Finucane	Soil	MGA94_51	241099	7580104	23	Au_AR25/MS
FNSL0055	Finucane	Soil	MGA94_51	241100	7580254	26	Au_AR25/MS
FNSL0057	Finucane	Soil	MGA94_51	241099	7580353	395	Au_AR25/MS
FNSL0059	Finucane	Soil	MGA94_51	241105	7580503	138	Au_AR25/MS
FNSL0060	Finucane	Soil	MGA94_51	241103	7580601	170	Au_AR25/MS
FNSL0064	Finucane	Soil	MGA94_51	241502	7580904	20	Au_AR25/MS
FNSL0074	Finucane	Soil	MGA94_51	241501	7580201	23	Au_AR25/MS
FNSL0078	Finucane	Soil	MGA94_51	241512	7580055	20	Au_AR25/MS
FNSL0079	Finucane	Soil	MGA94_51	241501	7580005	35	Au_AR25/MS
FNSL0080	Finucane	Soil	MGA94_51	241498	7579949	74	Au_AR25/MS
FNSL0081	Finucane	Soil	MGA94_51	241498	7579902	37	Au_AR25/MS
FNSL0082	Finucane	Soil	MGA94_51	241503	7579857	54	Au_AR25/MS
FNSL0083	Finucane	Soil	MGA94_51	241499	7579804	70	Au_AR25/MS
FNSL0084	Finucane	Soil	MGA94_51	241503	7579752	38	Au_AR25/MS
FNSL0085	Finucane	Soil	MGA94_51	241500	7579704	28	Au_AR25/MS
FNSL0097	Finucane	Soil	MGA94_51	241699	7579904	51	Au_AR25/MS
FNSL0098	Finucane	Soil	MGA94_51	241697	7579856	50	Au_AR25/MS
FNSL0099	Finucane	Soil	MGA94_51	241700	7579802	265	Au_AR25/MS
FNSL0101	Finucane	Soil	MGA94_51	241698	7579755	22	Au_AR25/MS
FNSL0102	Finucane	Soil	MGA94_51	241701	7579704	31	Au_AR25/MS
FNSL0103	Finucane	Soil	MGA94_51	241703	7579656	22	Au_AR25/MS
FNSL0105	Finucane	Soil	MGA94_51	241702	7579552	63	Au_AR25/MS
FNSL0106	Finucane	Soil	MGA94_51	241701	7579504	103	Au_AR25/MS
FNSL0107	Finucane	Soil	MGA94_51	241700	7579454	32	Au_AR25/MS
FNSL0109	Finucane	Soil	MGA94_51	241703	7579353	31	Au_AR25/MS
FNSL0110	Finucane	Soil	MGA94_51	241702	7579303	25	Au_AR25/MS
FNSL0113	Finucane	Soil	MGA94_51	241700	7579154	39	Au_AR25/MS
FNSL0115	Finucane	Soil	MGA94_51	241701	7579054	28	Au_AR25/MS
FNSL0116	Finucane	Soil	MGA94_51	241697	7579006	34	Au_AR25/MS
FNSL0129	Finucane	Soil	MGA94_51	242104	7579103	46	Au_AR25/MS
FNSL0130	Finucane	Soil	MGA94_51	242102	7579153	26	Au_AR25/MS
FNSL0131	Finucane	Soil	MGA94_51	242098	7579201	35	Au_AR25/MS
FNSL0135	Finucane	Soil	MGA94_51	242100	7579401	21	Au_AR25/MS
FNSL0136	Finucane	Soil	MGA94_51	242101	7579456	23	Au_AR25/MS
FNSL0138	Finucane	Soil	MGA94_51	242099	7579549	32	Au_AR25/MS
FNSL0139	Finucane	Soil	MGA94_51	242100	7579601	25	Au_AR25/MS
FNSL0140	Finucane	Soil	MGA94_51	242102	7579650	37	Au_AR25/MS
FNSL0141	Finucane	Soil	MGA94_51	242103	7579701	23	Au_AR25/MS
FNSL0142	Finucane	Soil	MGA94_51	242102	7579754	32	Au_AR25/MS
FNSL0143	Finucane	Soil	MGA94_51	242102	7579771	24	Au_AR25/MS
FNSL0144	Finucane	Soil	MGA94_51	242101	7579803	57	Au_AR25/MS
FNSL0145	Finucane	Soil	MGA94_51	242102	7579855	57	Au_AR25/MS
FNSL0146	Finucane	Soil	MGA94_51	242101	7579953	52	Au_AR25/MS
FNSL0147	Finucane	Soil	MGA94_51	242100	7579978	33	Au_AR25/MS
FNSL0153	Finucane	Soil	MGA94_51	242502	7579103	732	Au_AR25/MS
FNSL0160	Finucane	Soil	MGA94_51	242502	7579453	66	Au_AR25/MS
FNSL0161	Finucane	Soil	MGA94_51	242503	7579501	25	Au_AR25/MS
FNSL0162	Finucane	Soil	MGA94_51	242502	7579553	20	Au_AR25/MS
FNSL0163	Finucane	Soil	MGA94_51	242502	7579601	51	Au_AR25/MS
FNSL0164	Finucane	Soil	MGA94_51	242505	7579651	25	Au_AR25/MS
FNSL0166	Finucane	Soil	MGA94_51	242504	7579753	99	Au_AR25/MS
FNSL0167	Finucane	Soil	MGA94_51	242503	7579801	30	Au_AR25/MS
FNSL0168	Finucane	Soil	MGA94_51	242501	7579852	24	Au_AR25/MS
FNSL0169	Finucane	Soil	MGA94_51	242503	7579901	23	Au_AR25/MS
FNSL0171	Finucane	Soil	MGA94_51	242501	7579960	124	Au_AR25/MS
FNSL0172	Finucane	Soil	MGA94_51	242502	7580004	43	Au_AR25/MS
FNSL0174	Finucane	Soil	MGA94_51	242501	7580105	54	Au_AR25/MS
FNSL0194	Finucane	Soil	MGA94_51	242100	7580105	25	Au_AR25/MS
FNSL0197	Finucane	Soil	MGA94_51	246702	7579204	61	Au_AR25/MS
FNSL0206	Finucane	Soil	MGA94_51	247701	7580699	49	Au_AR25/MS
FNSL0211	Finucane	Soil	MGA94_51	247702	7580200	107	Au_AR25/MS
FNSL0212	Finucane	Soil	MGA94_51	247697	7580104	235	Au_AR25/MS
FNSL0242	Finucane	Soil	MGA94_51	247501	7580400	20	Au_AR25/MS
FNSL0243	Finucane	Soil	MGA94_51	247502	7580303	87	Au_AR25/MS
FNSL0251	Finucane	Soil	MGA94_51	247501	7579599	44	Au_AR25/MS
FNSL0252	Finucane	Soil	MGA94_51	247502	7579501	35	Au_AR25/MS
FNSL0278	Finucane	Soil	MGA94_51	247104	7580501	111	Au_AR25/MS
FNSL0279	Finucane	Soil	MGA94_51	247101	7580403	32	Au_AR25/MS
FNSL0280	Finucane	Soil	MGA94_51	247098	7580303	44	Au_AR25/MS
FNSL0281	Finucane	Soil	MGA94_51	247107	7580205	27	Au_AR25/MS
FNSL0286	Finucane	Soil	MGA94_51	247106	7579707	53	Au_AR25/MS
FNSL0287	Finucane	Soil	MGA94_51	247101	7579605	169	Au_AR25/MS
FNSL0297	Finucane	Soil	MGA94_51	246499	7579602	27	Au_AR25/MS
FNSL0301	Finucane	Soil	MGA94_51	246502	7579900	24	Au_AR25/MS
FNSL0302	Finucane	Soil	MGA94_51	246502	7579997	882	Au_AR25/MS
FNSL0303	Finucane	Soil	MGA94_51	246510	7580097	556	Au_AR25/MS
FNSL0317	Finucane	Soil	MGA94_51	245897	7580604	193	Au_AR25/MS
FNSL0318	Finucane	Soil	MGA94_51	245911	7580503	25	Au_AR25/MS
FNSL0326	Finucane	Soil	MGA94_51	245904	7580100	20	Au_AR25/MS
FNSL0327	Finucane	Soil	MGA94_51	245901	7579999	100	Au_AR25/MS
FNSL0339	Finucane	Soil	MGA94_51	245301	7580302	26	Au_AR25/MS
FNSL0341	Finucane	Soil	MGA94_51	245301	7580503	20	Au_AR25/MS
FNSL0345	Finucane	Soil	MGA94_51	244908	7579599	28	Au_AR25/MS
FNSL0352	Finucane	Soil	MGA94_51	244900	7580200	35	Au_AR25/MS
FNSL0353	Finucane	Soil	MGA94_51	244892	7580300	35	Au_AR25/MS
FNSL0354	Finucane	Soil	MGA94_51	244897	7580404	25	Au_AR25/MS
FNSL0356	Finucane	Soil	MGA94_51	244897	7580604	70	Au_AR25/MS
FNSL0358	Finucane	Soil	MGA94_51	244904	7580802	75	Au_AR25/MS
FNSL0378	Finucane	Soil	MGA94_51	245301	7580802	38	Au_AR25/MS
FNSL0379	Finucane	Soil	MGA94_51	245301	7580901	22	Au_AR25/MS
FNSL0388	Finucane	Soil	MGA94_51	244501	7580002	30	Au_AR25/MS
FNSL0389	Finucane	Soil	MGA94_51	244500	7580101	51	Au_AR25/MS
FNSL0390	Finucane	Soil	MGA94_51	244501	7580201	80	Au_AR25/MS
FNSL0391	Finucane	Soil	MGA94_51	244501	7580302	462	Au_AR25/MS
FNSL0392	Finucane	Soil	MGA94_51	244501	7580402	35	Au_AR25/MS
FNSL0395	Finucane	Soil	MGA94_51	244501	7580702	30	Au_AR25/MS
FNSL0396	Finucane	Soil	MGA94_51	244501	7580801	27	Au_AR25/MS
FNSL0398	Finucane	Soil	MGA94_51	244500	7581002	24	Au_AR25/MS
FNSL0422	Finucane	Soil	MGA94_51	249904	7580804	21	Au_AR25/MS
FNSL0454	Finucane	Soil	MGA94_51	244101	7580103	68	Au_AR25/MS
FNSL0459	Finucane	Soil	MGA94_51	244101	7580601	802	Au_AR25/MS
FNSL0479	Finucane	Soil	MGA94_51	250301	7580002	25	Au_AR25/MS
FNSL0484	Finucane	Soil	MGA94_51	250301	7579502	204	Au_AR25/MS
FNSL0532	Finucane	Soil	MGA94_51	251309	7579899	20	Au_AR25/MS
FNSL0534	Finucane	Soil	MGA94_51	251302	7580102	24	Au_AR25/MS
FNSL0553	Finucane	Soil	MGA94_51	249707	7579703	203	Au_AR25/MS
FNSL0554	Finucane	Soil	MGA94_51	249709	7579606	165	Au_AR25/MS
FNSL0573	Finucane	Soil	MGA94_51	249304	7579006	25	Au_AR25/MS
FNSL0584	Finucane	Soil	MGA94_51	249296	7579892	22	Au_AR25/MS
FNSL0608	Finucane	Soil	MGA94_51	250899	7579697	86	Au_AR25/MS
FNSL0609	Finucane	Soil	MGA94_51	250906	7579596	22	Au_AR25/MS
FNSL0633	Finucane	Soil	MGA94_51	250698	7579911	23	Au_AR25/MS
FNSL0634	Finucane	Soil	MGA94_51	250707	7579994	27	Au_AR25/MS
FNSL0649	Finucane	Soil	MGA94_51	248496	7580004	26	Au_AR25/MS
FNSL0652	Finucane	Soil	MGA94_51	248503	7579812	20	Au_AR25/MS
FNSL0660	Finucane	Soil	MGA94_51	249099	7579907	28	Au_AR25/MS
FNSL0661	Finucane	Soil	MGA94_51	249102	7579805	81	Au_AR25/MS
FNSL0688	Finucane	Soil	MGA94_51	248708	7579401	24	Au_AR25/MS
FNSL0693	Finucane	Soil	MGA94_51	248704	7579906	39	Au_AR25/MS
FNSL0694	Finucane	Soil	MGA94_51	248700	7579999	27	Au_AR25/MS
FNSL0695	Finucane	Soil	MGA94_51	248704	7580098	21	Au_AR25/MS
FNSL0709	Finucane	Soil	MGA94_51	250099	7580112	31	Au_AR25/MS
FNSL0713	Finucane	Soil	MGA94_51	250102	7579711	520	Au_AR25/MS
FNSL0715	Finucane	Soil	MGA94_51	250101	7579501	212	Au_AR25/MS
FNSL0731	Finucane	Soil	MGA94_51	249900	7579197	88	Au_AR25/MS
FNSL0733	Finucane	Soil	MGA94_51	249906	7579388	38	Au_AR25/MS
FNSL0735	Finucane	Soil	MGA94_51	249904	7579602	38	Au_AR25/MS
FNSL0764	Finucane	Soil	MGA94_51	248302	7580203	27	Au_AR25/MS
FNSL0766	Finucane	Soil	MGA94_51	248303	7580002	133	Au_AR25/MS
FNSL0772	Finucane	Soil	MGA94_51	248301	7579502	21	Au_AR25/MS
FNSL0773	Finucane	Soil	MGA94_51	248300	7579405	187	Au_AR25/MS
FNSL0782	Finucane	Soil	MGA94_51	248100	7579201	26	Au_AR25/MS
FNSL0785	Finucane	Soil	MGA94_51	248099	7579502	535	Au_AR25/MS
FNSL0793	Finucane	Soil	MGA94_51	248506	7579701	91	Au_AR25/MS
FNSL0798	Finucane	Soil	MGA94_51	248499	7579196	42	Au_AR25/MS
FNSL0799	Finucane	Soil	MGA94_51	248493	7579103	20	Au_AR25/MS

Table 2: Significant rock sample results from Sayshell, showing all results greater than 0.5 g/t gold.

Sample ID	Prospect	Sample Type	Grid ID	Easting	Northing	Au ppm	Method
NX1405414	Sayshell	ROCK	MGA94_51	240596	7588497	2.085	Au_/PAAU02
NX1410005	Sayshell	ROCK	MGA94_51	236911	7588659	1.344	Au_/PAAU02
NX1410031	Sayshell	ROCK	MGA94_51	236803	7588647	0.702	Au_/PAAU02
NX1410042	Sayshell	ROCK	MGA94_51	236787	7588593	11.946	Au_/PAAU02
NX1410072	Sayshell	ROCK	MGA94_51	240619	7588360	1.835	Au_/PAAU02
NX1410093	Sayshell	ROCK	MGA94_51	240697	7588324	3.323	Au_/PAAU02
NX1410124	Sayshell	ROCK	MGA94_51	240792	7588348	14.383	Au_/PAAU02
NX1410260	Sayshell	ROCK	MGA94_51	239560	7588750	1.289	Au_/PAAU02
NX1410342	Sayshell	ROCK	MGA94_51	239893	7588780	0.539	Au_/PAAU02
NX1410347	Sayshell	ROCK	MGA94_51	239916	7588783	0.514	Au_/PAAU02
NX1410622	Sayshell	ROCK	MGA94_51	229388	7590358	1.133	Au_/PAAU02
NX1410852	Sayshell	ROCK	MGA94_51	240062	7588510	3.112	Au_/PAAU02
NX1410943	Sayshell	ROCK	MGA94_51	240198	7588486	0.755	Au_/PAAU02
NX1411135	Sayshell	ROCK	MGA94_51	229096	7587649	8.81	Au_/PAAU02
NX1411136	Sayshell	ROCK	MGA94_51	229035	7587631	1.194	Au_/PAAU02
R06006	Sayshell	ROCK	MGA94_51	228940	7589734	1.468	Au_FA50/OE
R06016	Sayshell	ROCK	MGA94_51	227082	7590020	66.602	Au_FA50/OE
R06111	Sayshell	ROCK	MGA94_51	227085	7590025	8.904	Au_FA50/OE
R06125	Sayshell	ROCK	MGA94_51	226968	7590007	1.234	Au_FA50/OE
R06158	Sayshell	ROCK	MGA94_51	227150	7590303	0.809	Au_FA50/OE
R06163	Sayshell	ROCK	MGA94_51	227139	7590254	1.253	Au_FA50/OE
R06164	Sayshell	ROCK	MGA94_51	227139	7590247	2.139	Au_FA50/OE
R06176	Sayshell	ROCK	MGA94_51	229208	7590375	0.831	Au_FA50/OE
R06204	Sayshell	ROCK	MGA94_51	229210	7589987	2.204	Au_FA50/OE
R06220	Sayshell	ROCK	MGA94_51	229287	7590042	1.998	Au_FA50/OE
R06222	Sayshell	ROCK	MGA94_51	228925	7590105	0.529	Au_FA50/OE
R06224	Sayshell	ROCK	MGA94_51	228967	7590103	1.415	Au_FA50/OE
R06238	Sayshell	ROCK	MGA94_51	229145	7590179	1.622	Au_FA50/OE
R06242	Sayshell	ROCK	MGA94_51	229058	7590160	10.932	Au_FA50/OE
R06298	Sayshell	ROCK	MGA94_51	228930	7589728	3.073	Au_FA50/OE
R06619	Sayshell	ROCK	MGA94_51	227122	7590248	2.972	Au_FA50/OE
R06620	Sayshell	ROCK	MGA94_51	229009	7589732	1.421	Au_FA50/OE
R06624	Sayshell	ROCK	MGA94_51	228931	7589726	0.507	Au_FA50/OE
R06642	Sayshell	ROCK	MGA94_51	228140	7590105	0.51	Au_FA50/OE
R06648	Sayshell	ROCK	MGA94_51	227696	7590153	1.525	Au_FA50/OE
X10452	Sayshell	ROCK	MGA94_51	228928	7589730	13.496	Au_FA50/OE
X10453	Sayshell	ROCK	MGA94_51	228939	7589733	5.747	Au_FA50/OE
X10485	Sayshell	ROCK	MGA94_51	228123	7590096	3.047	Au_FA50/OE
X10487	Sayshell	ROCK	MGA94_51	228049	7590085	2.766	Au_FA50/OE
X10490	Sayshell	ROCK	MGA94_51	228168	7590115	4.378	Au_FA50/OE
X10516	Sayshell	ROCK	MGA94_51	228409	7590630	1.569	Au_FA50/OE
X10520	Sayshell	ROCK	MGA94_51	228390	7590616	1.567	Au_FA50/OE
X10532	Sayshell	ROCK	MGA94_51	227733	7590169	26.527	Au_FA50/OE
X12550	Sayshell	ROCK	MGA94_51	237942	7588865	0.525	Au_FA50/OE
X12604	Sayshell	ROCK	MGA94_51	227739	7590168	0.803	Au_FA50/OE
X12605	Sayshell	ROCK	MGA94_51	227735	7590169	3.163	Au_FA50/OE
X12606	Sayshell	ROCK	MGA94_51	227728	7590166	0.866	Au_FA50/OE
X12607	Sayshell	ROCK	MGA94_51	227709	7590158	8.153	Au_FA50/OE
X12608	Sayshell	ROCK	MGA94_51	227759	7590182	0.698	Au_FA50/OE
X12609	Sayshell	ROCK	MGA94_51	227750	7590176	4.036	Au_FA50/OE
X12610	Sayshell	ROCK	MGA94_51	227676	7590150	1.2	Au_FA50/OE
X12617	Sayshell	ROCK	MGA94_51	227090	7590015	14.252	Au_FA50/OE
X12618	Sayshell	ROCK	MGA94_51	229070	7590160	2.23	Au_FA50/OE
X12620	Sayshell	ROCK	MGA94_51	229092	7590176	10.574	Au_FA50/OE

FAQ

What are the latest exploration results from Novo Resources Corp. (NSRPF)?

Novo Resources has identified high-priority targets at Finucane and Sayshell with assays showing up to 907 ppb gold and surface rock sampling yielding gold grades up to 66.6 g/t.

What is the significance of the new exploration strategy for NSRPF?

The new basin-wide exploration strategy aims to identify targets that could host more than 100 koz gold, potentially increasing the company's resource base.

What are the plans for Novo Resources in 2023?

Plans include follow-up exploration at Finucane and Sayshell, with aircore drilling scheduled for 2023 to further assess these gold prospects.

How effective was the exploration strategy in the Mosquito Creek Basin?

The exploration team successfully identified promising targets and significant gold anomalies, demonstrating the effectiveness of the new strategy.