Novo Resources (TSX:NVO) Commences 15,000 m RC Drilling Program at the Parnell-Vulture Trend at Nullagine

Source: Novo Resources

Novo Resources (TSX:NVO) announced last Friday that it will begin its brownfield exploration programs at its highly prospective Nullagine gold project located in the East Pilbara District of Western Australia. 

The new exploration programs will focus on oxide opportunities at the Nullagine gold project with a 15,000 m reverse circulation drilling program which started at the Parnell-Vulture trend, also known as Parnell, during the first week of November 2021. This will take the company into the first quarter of 2022 as well.

Gold assay results from the new drill program are expected to be released by December 2021. Novo Resources has a priority arrangement with Intertek1 to provide PhotonAssay gold results.

Parnell-Vulture

Parnell is located about 45 kms from the Golden Eagle processing facility and can be accessed by an existing reliable haul road with surrounding infrastructure attached. Parnell covers a strike length of approximately 2 kms and contains a series of vein-hosted targets with historical drill intercepts. 

The Parnell and Vulture reverse circulation programs are the first programs at the Nullagine gold project as things begin to ramp up, with forward programs currently being generated at several priority basement targets.

Novo has already conducted detailed mapping and gridded soil sampling at Parnell and Vulture to determine the mineralization potential, but has yet to acquire the necessary details to validate historical data. Once this information is acquired, it will serve as further confirmation and guidance for targets. However, significant rock samples from both Parnell and Vulture highlight the presence of high-grade gold targets, and further confirm the prospectivity of this area.

Multiple Projects on the Go

Novo’s primary focus is exploring and developing gold projects in the Pilbara region of Western Australia. It has several ownership interests across its 13,000 sq km land package, and has several different projects on the go. 

Novo Resources’ main focus is its Egina gold project, where it is currently exploring and testing innovative exploration techniques under a JV with Japan’s Sumitomo Corporation. The company also has a 100% interest in the Purdy’s Reward gold project and a 100% interest in the production-ready Beatons Creek gold project. 

The new drilling programs follow other recent news from Novo Resources (TSX:NVO) as its Golden Eagle processing facility or “Golden Eagle Mill” had restarted production at the beginning of November. The faculty underwent opportunistic maintenance as the company repaired its main crushing unit, which is now back online.

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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