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Novo Resources provides mineral resource update

The Grant’s Hill area of the Beatons Creek gold property. Credit: Novo Resources

Vancouver’s Novo Resources (TSX: NVO) announces an updated resource estimate for the Beatons Creek gold project, located in the Nullagine region of Western Australia.

Results of drilling completed between January 2020 and May 2022 at Beatons Creek includes an indicated resource of 3.1 million tonnes at 2.4 g/t gold for 234,000 oz. gold, and an inferred resource of 0.83 million tonnes at 1.6 g/t gold for 42,000 oz. gold, using a 0.5 g/t gold cut-off within an optimized open pit shell, including both oxide and fresh material.

In June 2022, the company announced a pause in production at Beatons Creek, along with the commencement of works to prepare an updated resource estimate. Mining ceased in August 2022 and processing finished in September 2022.

Novo expects to release additional updates on resources during the first half of 2023. The findings of that update will be based on development drilling completed since May 30, 2022. Mineralization remains open to the northwest, with additional resource development drilling underway.

Two cultural heritage surveys were recently completed, enabling infill and extensional aircore drilling traverses and reverse circulation (RC) drilling to be completed for the remainder of 2022 and first half of 2023. Initial results from the Becher area, combined with previously reported results from Nunyerry North, reconfirm potential for the Egina district to be a standalone gold production hub.