Novo Resources Corp. (
Novo or the
Company) (ASX: NVO) (TSX: NVO) (OTCQX: NSRPF) is
pleased announce the results from a review of extensive geochemical
and geological datasets across its West and Central Pilbara land
holding targeting antimony (Sb) – gold (Au) potential.
The importance of antimony has increased
significantly since China announced export restrictions in August.
These restrictions are set to commence in mid-September. The price
of antimony has nearly doubled since the start of 2024 and has hit
record highs, with the critical metal predominantly used in flame
retardant products, solar panels, lead-acid batteries and in the
defence industry. China accounted for 48% of global antimony mine
production in 2023.
Importantly, through the assessment of the
Company’s large Pilbara landholding, Novo has identified two
prospects: the historic Sherlock Crossing (Clarke) antimony mine;
and the Southeast Wyloo (SE Wyloo) Prospect (Figure 2), with
significant Sb, Ag, Au, Cu, Pb and Zn potential. These prospects
are located on tenements which are 100% owned by Novo subsidiaries
and are in the early stages of exploration.
Figure 2: Location map of the Sherlock Crossing
antimony mine and SE Wyloo targets.
Sherlock Crossing (Clarke) Antimony Mine
The Sherlock Crossing (Clarke) antimony mine
(Figure 2) is a historic antimony-gold mine discovered in 1906 and
operated during 1907 to 1916.
According to historic records, the mine
initially produced 16 tonnes of dressed concentrate grading 53% Sb
and 10.9 g/t Au to 72.9 g/t Au and in 1916, a further 5.66 tonnes
of dressed concentrate grading 42.2% Sb and 15.6 g/t
Au1.
The workings are now largely covered by flood
transported sands and clay on the eastern flood plain of the
Sherlock River (Figure 1). Mineralisation was traced over 1,207 m
strike and tested by a series of shafts up to 12 m deep, pits and
trenches2. There is little evidence of the old workings, apart from
three prospecting pits which have been filled with flood debris to
within 2 metres of the surface. Rock chip sampling from this area
has yielded peak results of 98.8 g/t Au and 0.83% Sb3 (Figure
4).
Three phases of minor evaluation work have been
completed in the past and the project has not been drill tested.
The text below in italics is extracted from the historical reports
lodged by third parties:
- Aarex
19974 - As river sands from floods cover much of the area,
geo-chemical sampling residual soils was not possible. It is
apparent that the mineralisation described as being traced by a
series of shallow shafts, pits and open cuts in historical
literature occurs some distance to the west (further toward the
river) of the few minor excavations still evident today. Thus, the
most highly prospective area of the tenement was not sampled, as it
would require either costeaning or drilling.Thirty-five samples
were taken from outcrop or from the dump surrounding the main
historical excavation. The highest sample result was 84.8 g/t gold
which averaged 68.5 g/t over four assays. Twenty samples returned
values in excess of 0.1 g/t gold, with twelve returning values of
between 1 g/t and 68.5 g/t gold over a zone of about 60 metres wide
(not including the main Line of Lode). Although antimony was
present in most of the samples, the highest value was only 180 ppm
Sb, which is most unusual, given the area was known for antimony
mining and very high grades and visible antimony ore. This further
highlights the fact that the majority of the historical workings
are covered by flood debris, to the west of the areas sampled.
- Ascent
Mining 2002 (A66185) 3 - Sherlock
Crossing, located at the site of the historical Clarke antimony
mine, comprises gold antimony quartz veins in pillow basalt
returning up to 98.8 g/t Au and 0.83% antimony from Ascent sampling
programmes. Repeat sampling gave an average of 240.2 g/t Au
(original sample plus three repeat assays). A total of 21 grab
samples were collected from mine dumps and quartz veins/stringers
in the vicinity of the exposed workings on the east bank of the
Sherlock River. Of the 21 samples collected from this area 11
returned results in excess of 1g/t Au including 5 samples >10
g/t Au.
- Ourwest
Corp 2007 (A76553) 5 – 11 samples gave
peak results of 3.78 g/t Au and 1390 ppm Sb.
No assurance can be given that Novo will achieve
similar results as part of its exploration activities at Sherlock
Crossing.
Novo conducted reconnaissance work on the
Sherlock Crossing antimony mine in 2022. Mapping of the remaining
pits was conducted along with rock chip sampling, and soil sampling
on the western side of the Sherlock River, in conjunction with
stream sediment sampling. Seventeen rock chip samples were
collected by Novo in the vicinity of the few remaining pits and to
the north and west, with peak results of 1.71 g/t Au and 592 ppm
Sb. Original high grade rock chip samples were not re-sampled at
this time. See Appendix 1 for all results.
110 soil samples were completed at 80 m x 40 m
spacings to cover an outcropping area on the western side of the
Sherlock River. Peak soil results include 33.6 ppm Sb at
the southern end of the grid and peak stream sediment results south
of the soil grid yielded 13 ppm Sb (Figure 3). The 1.5 km
long Sb anomaly requires follow-up work.
2 - Finucane, K. J., and Telford, R. J., 1939a,
The antimony deposits of the Pilbara Goldfield: Aerial, Geological
and Geophysical Survey of Northern Australia, Western Australia
Report 47, 5p.3 - A66185 Wamex Report - Ascent Mining Pty Ltd 2003
- Exploration Licence E47/760 Annual Technical and Progress Report
for the Period 01 December 2001 to 30 November 20024 - A49869
A53516 Wamex Report - Aarex 1997 Annual Report Exploration Licence
47/760 Sherlock Crossing 1 December 1996 to 30 November 1997 5 -
A76553 Wamex Report - Ourwest Corp 2007 - Liberty - Indee Project
Combined Reporting Number: C130/2007 Annual Report EL 47/760 &
EL 47/1209 In the name of Ourwest Corporation Pty Lid For The
Period 27/09/2006 — 26/09/2007
Figure 3 – Sherlock Crossing regional
geochemistry highlighting strong antimony at the southern end of
the soil grid, and significant antimony anomalism in stream
sediment samples over 1.5 km to the south (yellow highlight).
Figure 4 – All rock chip results including
historical sampling3,4,5 from Sherlock Crossing antimony mine,
highlighting gold (left) and antimony (right). In some cases,
multiple samples were collected from the same point (mullock
dump).
Novo’s rock chip and soil sampling results at
Sherlock Crossing were collected prior to its listing on ASX in
September 2023 and are reported to ASX in accordance with the JORC
Code 2012 for the first time.
SE Wyloo Target
Exploration on the Wyloo tenement E47/4213
highlighted two significant antimony anomalies in the SE part of
the licence area (Figure 5).
Peak stream sediment values recorded by
Novo included 131 ppm Sb, being the most anomalous antimony sample
in Novo’s dataset of 8,744 stream sediment samples assayed for
antimony in the West and South Pilbara. Both anomalies are
approximately 2 km long and trend E-W. Reconnaissance follow-up
exploration on the eastern-most antimony-gold stream sediment
anomaly in 2023 identified a zone of quartz-sulphide veining, rich
in base metals, antimony, silver and gold (Figure 6) in the
Jeerinah Formation (Upper Fortescue Group).
An ENE trending quartz vein swarm, outcropping
over 150 m strike and in a zone up to 5 m thick, is present in a
highly altered and partly brecciated felsic volcanic sequence of
rocks. Strong kaolinite-sericite alteration occurs proximal to the
vein swarm (>10 m) with minor disseminated copper (malachite)
present (Figure 7).
Samples generated results of 387 g/t Ag,
5.0% Pb, 1.6% Zn, 2.4% Cu, 0.38% Sb, and 0.52 g/t Au, from seven
rock chips sampled (Table 1). Sample R06926 was collected
over a 3 m width as a representation of the 3 m zone (not a true
channel sample) and assayed 172 g/t Ag and 0.38% Sb. See Appendix 2
for a full list of results.
Table 1: Wyloo Project SE Sb anomaly - selected
rock chip sample assay results 2023.
Sample |
Easting (m) |
Northing (m) |
Au g/t |
Ag g/t |
Cu% |
Pb% |
Sb% |
Zn% |
R06920 |
457954 |
7482688 |
0.002 |
2 |
1.08 |
0.02 |
0.03 |
0.25 |
R06921 |
457953 |
7482690 |
0.005 |
7 |
2.36 |
0.02 |
0.02 |
0.12 |
R06922 |
457962 |
7482681 |
0.142 |
387 |
0.39 |
1.17 |
0.15 |
1.6 |
R06923 |
457960 |
7482678 |
0.188 |
361 |
0.05 |
0.58 |
0.17 |
0.03 |
R06924 |
457958 |
7482676 |
0.518 |
88 |
0.05 |
5.00 |
0.29 |
0.17 |
R06925 |
457998 |
7482697 |
0.005 |
67 |
0.14 |
1.20 |
0.06 |
0.03 |
R06926 |
457922 |
7482663 |
0.006 |
172 |
0.02 |
1.69 |
0.38 |
0.1 |
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Figure 5: Wyloo Project in the South Pilbara
showing the extensive high-order antimony stream sediment anomalies
in the SE corner of the Tenement. Black box = inset Figure 6.
Figure 6: The SE antimony anomaly highlighting
the stream sediment anomaly over 2 km strike and peak rock chip
results, highlighting strong base-metal silver and gold
mineralisation.
The mineralisation trends under colluvial and
alluvial cover to the west southwest and east northeast. Much of
the stream anomaly has not been assessed and the western antimony
stream sediment anomaly remains completely untested. Reconnaissance
exploration has provided very encouraging results.
Figure 7 – Select reconnaissance rock chip
samples from the SE Wyloo prospect
Novo’s rock chip sample results at SE Wyloo were
collected prior to its listing on ASX in September 2023 and are now
reported to ASX in accordance with the JORC Code 2012 for the first
time.
Future Work
The historic Sherlock Crossing (Clarke) antimony
mine area requires follow-up sampling and validation of previous
high grade rock chips, heritage, drilling in the vicinity of the
main workings and follow-up soil sampling, mapping and rock chip
sampling in the area of the western stream anomaly.
Wyloo SE requires heritage, systematic soil
sampling, detailed rock chip and channel sampling and mapping prior
to RC drilling through the primary targets on the eastern anomaly,
and follow-up stream sediment and soil sampling on the western
target.
ANALYTIC METHODOLOGY
Aarex4 1997 – utilized fire assay with 50 g
charge for Au analysis and single acid digest As, Ag, Cu, Ni, Pb,
Sb and Zn assayed with ICP scan AAS finish at Minlab, Malaga
Perth.
Ascent3 2002 - All samples were submitted to
Ultratrace Laboratory in Canning Vale Perth and analysed for
Au/Pt/Pd (via Fire Assay — Optical Emission Spectrometry [ICP-OES])
and Ag/As/Cu/Pb/Zn (via Multi-Acid digest — Mass Spectrometry
[ICP-MS]).
Ourwest Corp5 2007 - All samples were submitted
to Ultratrace Laboratory in Canningvale Perth and analysed for
Au/Pt/Pd (via Fire Assay — Optical Emission Spectrometry [ICP-OES])
and multielements (via Multi-Acid digest — Mass Spectrometry
(ICP-OES and Ag, Mo, As, SB by ICP-MS).
Historic companies do not report duplicate
samples or insertion of CRMs or blanks.
Novo rock chip samples of 1 – 3 kg were
submitted to Intertek commercial Genalysis (“Intertek”) in Perth,
Western Australia where they were dried and crushed to -3 mm and
pulverized to 75 µm or better (prep code SP64), with a > 85%
pass, then assayed for Au by 50 g charge fire assay FA50/OE and for
48 elements using four acid digest – MS finish (4A/MS). Elements
that reported above the upper detection limit for 4A/MS were
reanalysed using method 4AH/OE. A minimum of 2 CRM standards
relevant for the style of mineralisation and 2 blanks were
submitted per 100 samples.
Soil samples were sieved to < 80 mesh and
submitted to Intertek for aqua regia to analyse for 33 elements. A
minimum of 2 CRM standards, 2 blanks and 4 field duplicates were
submitted per 100 samples.
Stream sediment samples were sieved to < 0.9
mm and submitted to Intertek where they were dried and pulverized
to 75 µm or better (prep code SP02), with a > 85% pass, then
analysed for aqua regia for 33 elements. In addition, the samples
are analysed via BLEG (Bulk Leach Extractable Gold) 500 g cyanide
leach with MS finish for Au, Pt, Pd and Ag.
Historical exploration results contained in the
WAMEX Reports lodged by the other companies referred to in this
news release have not been reported in accordance with the JORC
Code 2012 or NI 43-101 and a Competent Person/Qualified Person has
not done sufficient work to disclose the exploration results in
accordance with the JORC Code 2012 or NI 43-101. It is possible
that following further evaluation and/or exploration work that the
confidence in the prior reported exploration results may be reduced
when reported under the JORC Code 2012 or NI 43-101. Novo confirms
that nothing has come to its attention that causes it to question
the accuracy or reliability of the results included in the WAMEX
Reports, but Novo has not independently validated those results and
therefore is not to be regarded as reporting, adopting or endorsing
those results. No assurance can be given that Novo will achieve
similar results as part of its exploration activities at its
Pilbara projects.
Authorised for release on behalf of the Board of
Directors.
CONTACT
Investors:Mike Spreadborough +61 8 6400 6100
info@novoresources.com |
North American Queries:Leo Karabelas+1 416 543
3120leo@novoresources.com |
Media:Cameron Gilenko+61 466 984
953cameron.gilenko@sodali.com |
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QP STATEMENT
Mrs. Karen (Kas) De Luca (MAIG), is the
qualified person, as defined under NI 43-101 Standards of
Disclosure for Mineral Projects, responsible for, and having
reviewed and approved, the technical information contained in this
news release. Mrs De Luca is Novo’s General Manager
Exploration.
JORC COMPLIANCE STATEMENT
The information in this news release that
relates to exploration results in the Pilbara is based on
information compiled by Mrs De Luca, who is a full-time employee of
Novo Resources Corp. Mrs De Luca is a Competent Person who is a
member of the Australian Institute of Geoscientists. Mrs De Luca
has sufficient experience that is relevant to the style of
mineralisation and the type of deposits under consideration and to
the activity being undertaken to qualify as a Competent Person as
defined in the 2012 Edition of the 'Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves'. Mrs De
Luca consents to the inclusion in the report of the matters based
on her information in the form and context in which it appears.
FORWARD-LOOKING STATEMENTS
Some statements in this news release may contain
“forward-looking statements” within the meaning of Canadian and
Australian securities law and regulations. In this news release,
such statements include but are not limited to planned exploration
activities and the timing of such. 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 annual information form for the year
ended December 31, 2023 (which is available under Novo’s profile on
SEDAR+ at www.sedarplus.ca and at www.asx.com.au) in the Company’s
prospectus dated 2 August 2023 which is available at
www.asx.com.au. 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.
ABOUT NOVO
Novo is an Australian based gold explorer listed
on the ASX and the TSX focused on discovering standalone gold
projects with > 1 Moz development potential. Novo is an
innovative gold explorer with a significant land package covering
approximately 6,700 square kilometres in the Pilbara region of
Western Australia, along with the 22 square kilometre Belltopper
project in the Bendigo Tectonic Zone of Victoria, Australia.
Novo’s key project area is the Egina Gold Camp,
where De Grey Mining is farming-in to form a JV at the Becher
Project and surrounding tenements through exploration expenditure
of A$25 million within 4 years for a 50% interest. The Becher
Project has similar geological characteristics as De Grey’s 12.7
Moz Hemi Project6. Novo is also advancing gold exploration at
Nunyerry North, part of the Croydon JV (Novo 70%: Creasy Group
30%), where 2023 exploration drilling identified significant gold
mineralisation. Novo continues to undertake early-stage exploration
across its Pilbara tenement portfolio.
Novo has also formed lithium joint ventures with
both Liatam and SQM in the Pilbara which provides shareholder
exposure to battery metals.
Novo has a significant investment portfolio and
a disciplined program in place to identify value accretive
opportunities that will build further value for shareholders.
Please refer to Novo’s website for further
information including the latest Corporate Presentation.
6. Refer to De Grey ASX Announcement, Hemi Gold
Project Resource Update, dated 21 November 2023. No assurance can
be given that a similar {or any) commercially mineable deposit will
be determined at Novo’s Becher project.
Appendix 1 – Rock Chip Table of Results Clarke Sb Mine
and Surrounds (all samples)
Sample |
Company |
Coord sys |
East (m) |
North (m) |
Au g/t |
Sb ppm |
Cu ppm |
Pb ppm |
5301 |
Aarex4 |
AMG84_50 |
563207 |
7674855 |
0.01 |
0.4 |
27 |
9 |
5302 |
Aarex4 |
AMG84_50 |
563247 |
7674864 |
1.26 |
0 |
38 |
5 |
5303 |
Aarex4 |
AMG84_50 |
563298 |
7674873 |
0.02 |
0 |
31 |
10 |
5304 |
Aarex4 |
AMG84_50 |
563362 |
7674842 |
0.02 |
0.4 |
17 |
1 |
5305 |
Aarex4 |
AMG84_50 |
563238 |
7674890 |
0.02 |
1 |
23 |
3 |
5306 |
Aarex4 |
AMG84_50 |
563232 |
7674884 |
0.51 |
2.6 |
48 |
5 |
5307 |
Aarex4 |
AMG84_50 |
563192 |
7674892 |
0.1 |
1.6 |
37 |
7 |
5308 |
Aarex4 |
AMG84_50 |
563227 |
7674917 |
25.9 |
40 |
190 |
1200 |
5309 |
Aarex4 |
AMG84_50 |
563227 |
7674917 |
3.47 |
16 |
66 |
240 |
5310 |
Aarex4 |
AMG84_50 |
563227 |
7674917 |
0.09 |
7.4 |
61 |
22 |
5311 |
Aarex4 |
AMG84_50 |
563227 |
7674917 |
3.01 |
17 |
88 |
62 |
5312 |
Aarex4 |
AMG84_50 |
563227 |
7674917 |
0.17 |
3.2 |
57 |
22 |
5313 |
Aarex4 |
AMG84_50 |
563227 |
7674917 |
0.05 |
9.2 |
74 |
77 |
5314 |
Aarex4 |
AMG84_50 |
563227 |
7674917 |
0.12 |
5.8 |
120 |
150 |
5315 |
Aarex4 |
AMG84_50 |
563227 |
7674917 |
0.33 |
22 |
92 |
53 |
5316 |
Aarex4 |
AMG84_50 |
563227 |
7674917 |
68.5 |
53 |
730 |
9800 |
5317 |
Aarex4 |
AMG84_50 |
563213 |
7674924 |
4.15 |
43 |
150 |
1400 |
5318 |
Aarex4 |
AMG84_50 |
563227 |
7674932 |
15.4 |
180 |
28 |
800 |
5319 |
Aarex4 |
AMG84_50 |
563226 |
7674927 |
0.98 |
25 |
42 |
90 |
5320 |
Aarex4 |
AMG84_50 |
563238 |
7674927 |
11.8 |
13 |
98 |
5700 |
5321 |
Aarex4 |
AMG84_50 |
563260 |
7674932 |
3.12 |
15 |
110 |
760 |
5322 |
Aarex4 |
AMG84_50 |
563275 |
7674938 |
0.25 |
6.8 |
37 |
49 |
5323 |
Aarex4 |
AMG84_50 |
563294 |
7674975 |
0.06 |
1.2 |
32 |
18 |
5324 |
Aarex4 |
AMG84_50 |
563235 |
7674999 |
1.83 |
63 |
13 |
14 |
5325 |
Aarex4 |
AMG84_50 |
563131 |
7675167 |
0.33 |
25 |
43 |
16 |
5326 |
Aarex4 |
AMG84_50 |
563175 |
7675148 |
0.04 |
3.2 |
68 |
9 |
5327 |
Aarex4 |
AMG84_50 |
563198 |
7675170 |
0.03 |
2 |
53 |
4 |
5328 |
Aarex4 |
AMG84_50 |
563111 |
7675208 |
0.02 |
0.8 |
27 |
5 |
5329 |
Aarex4 |
AMG84_50 |
563130 |
7675251 |
0.02 |
1.6 |
58 |
8 |
5330 |
Aarex4 |
AMG84_50 |
563130 |
7675251 |
0.04 |
0 |
12 |
5 |
AX00021 |
Ascent Mining3 |
MGA94_50 |
563375 |
7675056 |
0.421 |
8300 |
200 |
21000 |
AX00022 |
Ascent Mining3 |
MGA94_50 |
563375 |
7675056 |
5.14 |
462 |
165 |
545 |
AX00023 |
Ascent Mining3 |
MGA94_50 |
563375 |
7675056 |
98.8 |
926 |
480 |
2050 |
AX00024 |
Ascent Mining3 |
MGA94_50 |
563375 |
7675056 |
71.7 |
1140 |
250 |
1280 |
AX00025 |
Ascent Mining3 |
MGA94_50 |
563375 |
7675056 |
90.6 |
356 |
420 |
920 |
AX00026 |
Ascent Mining3 |
MGA94_50 |
563359 |
7675073 |
3.07 |
269 |
70 |
440 |
AX00027 |
Ascent Mining3 |
MGA94_50 |
563359 |
7675073 |
18.4 |
2960 |
110 |
345 |
AX00028 |
Ascent Mining3 |
MGA94_50 |
563361 |
7675053 |
0.423 |
59.4 |
30 |
125 |
AX00029 |
Ascent Mining3 |
MGA94_50 |
563371 |
7675114 |
0.653 |
11.6 |
15 |
15 |
AX00030 |
Ascent Mining3 |
MGA94_50 |
563328 |
7675119 |
0.035 |
7 |
540 |
10 |
AX00031 |
Ascent Mining3 |
MGA94_50 |
563328 |
7675119 |
0.039 |
8.4 |
115 |
5 |
AX00032 |
Ascent Mining3 |
MGA94_50 |
563328 |
7675119 |
11.4 |
628 |
1550 |
100 |
AX00033 |
Ascent Mining3 |
MGA94_50 |
563328 |
7675119 |
0.012 |
10.8 |
35 |
5 |
AX00034 |
Ascent Mining3 |
MGA94_50 |
563385 |
7675021 |
0.068 |
11.2 |
70 |
5 |
AX00035 |
Ascent Mining3 |
MGA94_50 |
563376 |
7675034 |
0.005 |
12.4 |
25 |
5 |
AX00036 |
Ascent Mining3 |
MGA94_50 |
563356 |
7675058 |
3.77 |
59 |
135 |
5 |
AX00037 |
Ascent Mining3 |
MGA94_50 |
563356 |
7675058 |
7.52 |
78.8 |
85 |
10 |
AX00038 |
Ascent Mining3 |
MGA94_50 |
563375 |
7675075 |
0.526 |
783 |
85 |
2820 |
AX00039 |
Ascent Mining3 |
MGA94_50 |
563375 |
7675075 |
2.85 |
355 |
45 |
950 |
AX00040 |
Ascent Mining3 |
MGA94_50 |
563416 |
7675128 |
0.017 |
19.4 |
20 |
-0.5 |
AX00041 |
Ascent Mining3 |
MGA94_50 |
563416 |
7675128 |
0.027 |
18.6 |
20 |
5 |
J2401 |
Ourwest Corp5 |
MGA94_50 |
563366 |
7675050 |
3.78 |
1390 |
110 |
2100 |
J2402 |
Ourwest Corp5 |
MGA94_50 |
563366 |
7675050 |
0.017 |
60.6 |
40 |
-100 |
J2403 |
Ourwest Corp5 |
MGA94_50 |
563366 |
7675050 |
0.258 |
100 |
55 |
-100 |
J5101 |
Ourwest Corp5 |
MGA94_50 |
563294 |
7675150 |
0.012 |
8 |
40 |
5 |
J5111 |
Ourwest Corp5 |
MGA94_50 |
563481 |
7675117 |
0.012 |
13.2 |
10 |
11 |
J5121 |
Ourwest Corp5 |
MGA94_50 |
563481 |
7675117 |
0.008 |
12.2 |
20 |
7 |
J5131 |
Ourwest Corp5 |
MGA94_50 |
563300 |
7675010 |
0.004 |
10.8 |
70 |
8 |
J5601 |
Ourwest Corp5 |
MGA94_50 |
563294 |
7675065 |
-0.002 |
7.2 |
30 |
4 |
J5701 |
Ourwest Corp5 |
MGA94_50 |
563294 |
7675065 |
0.008 |
49.4 |
20 |
24 |
J5801 |
Ourwest Corp5 |
MGA94_50 |
563294 |
7675065 |
0.01 |
23.2 |
65 |
12 |
J5901 |
Ourwest Corp5 |
MGA94_50 |
563294 |
7675065 |
0.048 |
6.8 |
90 |
10 |
W10757 |
Novo |
MGA2020_50 |
563366 |
7675148.5 |
0.01 |
269.25 |
26.4 |
2.1 |
W10758 |
Novo |
MGA2020_50 |
563412 |
7675132.5 |
0.021 |
23.93 |
36.6 |
1 |
W10759 |
Novo |
MGA2020_50 |
563417 |
7675134.5 |
0.241 |
20.61 |
27.5 |
0.9 |
W10761 |
Novo |
MGA2020_50 |
563424 |
7675135.5 |
0.017 |
26.18 |
28.6 |
2.5 |
W10762 |
Novo |
MGA2020_50 |
563459 |
7675068.5 |
0.008 |
9.24 |
6.3 |
2.8 |
W10763 |
Novo |
MGA2020_50 |
563485 |
7675054.5 |
0.008 |
15.78 |
34.7 |
1.4 |
W19905 |
Novo |
MGA2020_50 |
563421 |
7675204 |
0.077 |
35.65 |
90.3 |
9.8 |
W19906 |
Novo |
MGA2020_50 |
563359 |
7675079 |
0.323 |
47.61 |
29.9 |
80.3 |
W19912 |
Novo |
MGA2020_50 |
563398 |
7675087 |
0.035 |
119.38 |
27.2 |
6.9 |
W19913 |
Novo |
MGA2020_50 |
563341 |
7675075 |
0.045 |
65.65 |
18.7 |
3.8 |
W19914 |
Novo |
MGA2020_50 |
563419 |
7675044 |
0.003 |
10.59 |
148.5 |
9.3 |
W10764 |
Novo |
MGA2020_50 |
563416 |
7675047.5 |
0.004 |
7.44 |
41 |
8.9 |
W19907 |
Novo |
MGA2020_50 |
563365 |
7675075 |
0.415 |
132.27 |
31.4 |
9 |
W19908 |
Novo |
MGA2020_50 |
563382 |
7675072 |
0.143 |
442.41 |
41.9 |
715.3 |
W19909 |
Novo |
MGA2020_50 |
563384 |
7675074 |
1.708 |
592.16 |
219 |
2556.7 |
W19910 |
Novo |
MGA2020_50 |
563390 |
7675106 |
0.003 |
4.42 |
7.3 |
11.3 |
W19911 |
Novo |
MGA2020_50 |
563406 |
7675087 |
0.038 |
80.06 |
27.5 |
29.6 |
|
|
|
|
|
|
|
|
|
Appendix 2 – Rock Chip Table of Results
Wyloo SE Anomaly and Surrounds (all samples) – co-ordinate system
is MGA2020_50 for all samples
Sample |
East (m) |
North (m) |
Au g/t |
Ag g/t |
Cu ppm |
Pb ppm |
Sb ppm |
Zn ppm |
R06927 |
458554 |
7482785 |
0.00 |
0.6 |
10 |
56 |
32.01 |
81 |
R06926 |
457922 |
7482663 |
0.01 |
171.8 |
240 |
16859 |
3786 |
967 |
R06925 |
457998 |
7482697 |
0.01 |
66.8 |
1361 |
11995 |
630.1 |
312 |
R06924 |
457958 |
7482676 |
0.52 |
87.8 |
497 |
50027 |
2908 |
1654 |
R06923 |
457960 |
7482678 |
0.19 |
361.0 |
541 |
5814 |
1698 |
348 |
R06922 |
457962 |
7482681 |
0.14 |
386.9 |
3854 |
11714 |
1492 |
16042 |
R06921 |
457953 |
7482690 |
0.01 |
7.2 |
23590 |
188 |
233 |
1178 |
R06920 |
457954 |
7482688 |
0.00 |
1.7 |
10815 |
182 |
343.9 |
2525 |
R06919 |
457987 |
7482752 |
0.00 |
0.1 |
20 |
39 |
6.74 |
1217 |
R06917 |
457974 |
7482902 |
0.01 |
1.9 |
368 |
798 |
150.7 |
470 |
R06916 |
458009 |
7482882 |
0.00 |
0.5 |
213 |
21 |
18.92 |
732 |
R06915 |
458060 |
7482860 |
0.00 |
0.1 |
9 |
5 |
2.08 |
22 |
R06914 |
458051 |
7482860 |
0.01 |
0.5 |
15 |
323 |
6.34 |
27 |
R06913 |
458162 |
7482756 |
0.00 |
1.6 |
129 |
604 |
18.26 |
419 |
R06912 |
458180 |
7482557 |
0.00 |
0.1 |
8 |
9 |
187.1 |
19 |
|
|
|
|
|
|
|
|
|
JORC Code, 2012 Edition – Table 1
Section 1: Sampling Techniques and Data
(Criteria listed in the preceding section also apply to this
section)
Criteria |
JORC Code explanation |
Commentary |
Sampling techniques |
- Nature and quality of sampling (e.g., cut channels, random
chips, or specific specialised industry standard measurement tools
appropriate to the minerals under investigation, such as down hole
gamma sondes, or handheld XRF instruments, etc). These examples
should not be taken as limiting the broad meaning of sampling.
- Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any measurement
tools or systems used.
- Aspects of the determination of mineralisation that are
Material to the Public Report.
- In cases where ‘industry standard’ work has been done this
would be relatively simple (e.g., ‘reverse circulation drilling was
used to obtain 1 m samples from which 3 kg was pulverised to
produce a 30 g charge for fire assay’). In other cases, more
explanation may be required, such as where there is coarse gold
that has inherent sampling problems. Unusual commodities or
mineralisation types (e.g., submarine nodules) may warrant
disclosure of detailed information.
|
- Rock chips samples were collected by grab sampling 1 – 3 kg of
material into calico bags for dispatch from outcrop or historic
dump samples. Sample sites were selected based to be representative
on the lithology, vein and mineralisation sampled, and the same
sampling technique was employed at each sample site where possible.
Samples at Wyloo listed as 3m or 0.6m width were not strict channel
samples, rather an attempt to collect a representative sample
across a certain width of mineralisation.
- Soil samples of 200g were collected from small pits 2 cm – 20
cm depth and sieved to <80#. Analysis depends on anticipated
target mineralisation and includes aqua regia for all soils with
optional fire assay for Au / Pt / Pd analysis.
- Stream sediment samples were sieved to < 0.9 mm from active
sediment in creeks, generally not from trap sites, rather active
straight channels where possible
- Based on statistical analysis of these results, there is no
evidence to suggest the samples are not representative.
- Rock samples by other companies were likely collected by grab
sampling 1 – 3 kg as is standard industry practice
|
Drilling techniques |
- Drill type (e.g., core, reverse circulation, open-hole hammer,
rotary air blast, auger, Bangka, sonic, etc) and details (e.g.,
core diameter, triple or standard tube, depth of diamond tails,
face-sampling bit, or other type, whether core is oriented and if
so, by what method, etc).
|
- No drilling was undertaken.
|
Drill sample recovery |
- Method of recording and assessing core and chip sample
recoveries and results assessed.
- Measures taken to maximise sample recovery and ensure
representative nature of the samples.
- Whether a relationship exists between sample recovery and grade
and whether sample bias may have occurred due to preferential
loss/gain of fine/coarse material.
|
- No drilling was undertaken.
|
Logging |
- Whether core and chip samples have been geologically and
geotechnically logged to a level of detail to support appropriate
Mineral Resource estimation, mining studies and metallurgical
studies.
- Whether logging is qualitative or quantitative in nature. Core
(or costean, channel, etc) photography.
- The total length and percentage of the relevant intersections
logged.
|
- No drilling was undertaken.
|
Sub-sampling techniques and sample preparation |
- If core, whether cut or sawn and whether quarter, half or all
core taken.
- If non-core, whether riffled, tube sampled, rotary split, etc
and whether sampled wet or dry.
- For all sample types, the nature, quality, and appropriateness
of the sample preparation technique.
- Quality control procedures adopted for all sub-sampling stages
to maximise representivity of samples.
- Measures taken to ensure that the sampling is representative of
the in-situ material collected, including for instance results for
field duplicate/second-half sampling.
- Whether sample sizes are appropriate to the grain size of the
material being sampled.
|
- Novo rock chip samples of 1 – 3 kg were submitted to Intertek
commercial Genalysis (“Intertek”) in Perth, Western Australia where
they were dried and crushed to -3 mm and pulverized to 75 µm or
better (prep code SP64), with a > 85% pass, then assayed for Au
by 50 g charge fire assay FA50/OE and for 48 elements using four
acid digest – MS finish (4A/MS). Elements that reported above the
upper detection limit for 4A/MS were reanalysed using method
4AH/OE. A minimum of 2 CRM standards relevant for the style of
mineralisation and 2 blanks were submitted per 100 samples.
- Soil samples were sieved to < 80 mesh and >200g in
pre-numbered paper packets were submitted to Intertek for aqua
regia to analyse for 33 elements. A minimum of 2 CRM standards, 2
blanks and 4 field duplicates were submitted per 100 samples.
- Stream sediment samples were sieved to < 0.9 mm and >600g
were submitted in prenumbered plastic bags to Intertek where they
were dried and pulverized to 75 µm or better (prep code SP02), with
a > 85% pass, then analysed for aqua regia for 33 elements. In
addition, the samples are analysed via BLEG (Bulk Leach Extractable
Gold) 500 g cyanide leach with MS finish for Au, Pt, Pd and
Ag.
- The sampling techniques and sample size is considered
appropriate for this style of mineralisation.
- Aarex 1997 rock chip samples utilized fire assay with 50 g
charge for Au analysis and single acid digest As, Ag, Cu, Ni, Pb,
Sb and Zn assayed with ICP scan AAS finish at Minlab, Malaga
Perth.
- Ascent 2002 rock chip samples were submitted to Ultratrace
Laboratory in Canningvale Perth and analysed for Au/Pt/Pd (via Fire
Assay — Optical Emission Spectrometry [ICP-OES]) and Ag/As/Cu/Pb/Zn
(via Multi-Acid digest — Mass Spectrometry [ICP-MS]).
- Ourwest Corp 2007 rock chip samples were submitted to
Ultratrace Laboratory in Canningvale Perth and analysed for
Au/Pt/Pd (via Fire Assay — Optical Emission Spectrometry [ICP-OES])
and multielements (via Multi-Acid digest — Mass Spectrometry
(ICP-OES and Ag, Mo, As, SB by ICP-MS).
- Historic companies do not report duplicate samples or insertion
of CRMs or blanks.
|
Quality of assay data and laboratory tests |
- The nature, quality and appropriateness of the assaying and
laboratory procedures used and whether the technique is considered
partial or total.
- For geophysical tools, spectrometers, handheld XRF instruments,
etc, the parameters used in determining the analysis including
instrument make and model, reading times, calibrations factors
applied and their derivation, etc.
- Nature of quality control procedures adopted (e.g., standards,
blanks, duplicates, external laboratory checks) and whether
acceptable levels of accuracy (if lack of bias) and precision have
been established.
|
- The rock chip sample assay methodology noted above is
considered appropriate for the style of mineralisation tested. The
method includes inserting 2 CRM standards and 2 blanks per 100
samples or at least one of each per sample submission.
- The soil sample assay methodology has low level detection for
gold and multi-elements and is considered appropriate for soil
geochemistry for near surface mineralisation. The method includes
insertion of at least 2 blanks 2 CRM standards and 4 field
duplicates per 100 samples.
- The stream sediment sample assay methodology has low level
detection for gold and multi-elements and very low detection for
AU, Ag, Pt and Pd (BLEG) and is considered appropriate for stream
sediment geochemistry. The method includes insertion of at least 2
blanks 2 CRM standards and 4 field duplicates per 100 samples.
- No QAQC issues were detected.
- The historic rock chip sample assay methodologies noted above
are considered appropriate for the style of mineralisation tested.
However, Aarex 1997 rock chip sampling utilized single acid digest
and certain elements may not have entirely dissolved or given
complete assays (i.e. possible under-reporting for some elements
such as Pb, Ba etc).
- No QAQC protocols or performance was reported by Historic
companies, and it is assumed that QAQC was not considered at the
time.
|
Verification of sampling and assaying |
- The verification of significant intersections by either
independent or alternative company personnel.
- The use of twinned holes.
- Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic)
protocols.
- Discuss any adjustment to assay data.
|
- Primary data was collected using database compatible excel
templates which were then forwarded to the database manager email
for upload to the Geobank (v2022.5) database, buffered through a
validation portal that ensures code, interval and primary record
compliance. Geobank is a front-end UX/UI tender software platform
(developed and sold by Micromine) attached to a SQL v15.1
server.
- Assay data were loaded from lab certificates received from the
registered laboratory by an internal database manager or external
database consultant, and industry-standard audit trails and
chain-of-custody was adhered to.
- No adjustments of the assay data were made.
- Historic sample and assay data is extracted from their annual
reports, available online via WAMEX under the report IDs A66185,
A53516 – A49869 and A76553. Assays were reported by Novo as listed
in copied original lab certificates. No adjustments were made.
|
Location of data points |
- Accuracy and quality of surveys used to locate drill holes
(collar and down-hole surveys), trenches, mine workings and other
locations used in Mineral Resource estimation.
- Specification of the grid system used.
- Quality and adequacy of topographic control.
|
- All surface sample reconnaissance
locations were recorded in by hand-held GPS using the GDA94-Z50
co-ordinate system and converted to GDA2020-Z50
- Historical companies recorded collar
coordinates using a GPS in grid AGD84, zone 50 and GDA94 zone 50,
which are converted by Novo to GDA2020 zone 50.
|
Data spacing and distribution |
- Data spacing for reporting of Exploration Results.
- Whether the data spacing, and distribution is sufficient to
establish the degree of geological and grade continuity appropriate
for the Mineral Resource and Ore Reserve estimation procedure(s)
and classifications applied.
- Whether sample compositing has been applied.
|
- Limited rock samples are taken and are indicative of potential
grade tenor. These do not indicate any continuity or scale
potential.
- Soil samples were taken on a nominal 80 m x 40 m grid oriented
N-S
- Stream sediment samples were collected from all creeks in the
area that could be sampled, near the outflow but not too close to
be contaminated by the main creek flood events.
|
Orientation of data in relation to geological structure |
- Whether the orientation of sampling achieves unbiased sampling
of possible structures and the extent to which this is known,
considering the deposit type.
- If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to have
introduced a sampling bias, this should be assessed and reported if
material.
|
- Soil sample grids were orientated to best intersect the
lithological and structural trends at right angles.
|
Sample security |
- The measures taken to ensure sample security.
|
- All samples are collected in the field by Novo staff and
contractors and individual samples are loaded into polyweave bags
or sample boxes either on-site or at the end of the day.
- Sample are transported to Karratha by internal staff and stored
in bulka bags in a locked shed ready for transport
- Samples are then transported by reputable companies to a
registered laboratory where they are stored in a locked facility
before being tracked and processed through the preparation and
analysis system at the laboratory.
- Chain of custody is maintained by con notes and tracking
numbers from Karratha to the registered laboratory.
- At the registered laboratory the individual samples are
registered and tracked through the preparation and analysis
process.
- Chain of custody information from historic companies is not
available.
|
Audits or reviews |
- The results of any audits or reviews of sampling techniques and
data.
|
- No audits have been undertaken.
|
Section 2: Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this
section)
Criteria |
JORC Code explanation |
Commentary |
Mineral tenement and land tenure status |
- Type, reference name/number, location and ownership including
agreements or material issues with third parties such as joint
ventures, partnerships, overriding royalties, native title
interests, historical sites, wilderness or national park and
environmental settings.
- The security of the tenure held at the time of reporting along
with any known impediments to obtaining a license to operate in the
area.
|
- The Sherlock Crossing is part of the Karratha District and is
located on Exploration License E47/3825 100% owned by Novo
Resources, approximately 70km east-southeast of Karratha.
- There are several Registered Heritage Sites within this
tenement, however not overlapping with the immediate exploration
area.
- The prospect falls under the granted Ngarluma Native Title
determination WC1999/014 and is subject to a land access and
mineral exploration agreement with the Native Title Holders.
- The Wyloo Prospect is part of the South Pilbara district
approximately 120 km east-southeast of Paraburdoo and is located on
Exploration License E47/4213, 100% owned by Novo Resources.
- There are several Registered Heritage Sites within this
tenement, however not overlapping with the immediate drilling
area.
- The prospects fall under the granted Puutu Kunti Kurrama People
and Pinikura People #1 and #2 Native Title determination
WC2001/005, WC2005/004 and is subject to a land access and mineral
exploration agreement with the Native Title Holders.
- The tenements are currently in good standing and there are no
known impediments.
|
Exploration done by other parties |
- Acknowledgment and appraisal of exploration by other
parties.
|
- Aarex 1997 (A53516 – A49869) collected thirty-five samples from
outcrop or from the dump surrounding the main historical excavation
at the Clarke Mine. The highest sample result was 84.8 g/t gold
which averaged 68.5 g/t over four assays.
- Ascent Mining 2002 (A66185) - collected twenty-one rock chip
samples from Sherlock Crossing, located at the site of the
historical Clarkes antimony mine, returning up to 98.8 g/t Au and
0.83% antimony
- Ourwest Corp 2007 (A76553) – collected eleven rock chip samples
which gave peak results of 3.78 g/t Au and 1390 ppm Sb.
- No other known work of relevance has been undertaken by other
parties.
|
Geology |
- Deposit type, geological setting, and style of
mineralisation.
|
- Sherlock Crossing is orogenic Au-Sb vein hosted mineralisation
along a major N to NNE trending structure, hosted in basalt to
ultramafic rocks of the Archaean Louden Volcanics (2.95 Ma).
Mineralisation occurs in poorly outcropping zones of sheeted to
stockwork quartz veins with stibnite and gold on the eastern flood
plain of the Sherlock River.
- Wyloo SE is zone quartz-sulphide veining, rich in base metals,
antimony, silver and lesser gold in the Jeerinah Formation (Upper
Fortescue Group 2.63 Ga). An ENE trending quartz vein swarm,
outcropping over 150m strike and in a zone up to 5 m thick, is
present in a highly altered and partly brecciated felsic volcanic
sequence of rocks. Strong kaolinite sericite alteration occurs
proximal to the vein (>10m) with minor disseminated copper
(malachite) present. Mineralisation style is currently unknown.
Mineralisation goes under transported cover to the SW and NE.
|
Drill hole Information |
- A summary of all information material to the understanding of
the exploration results including a tabulation of the following
information for all Material drill holes, including Easting and
northing of the drill hole collar, Elevation or RL (Reduced Level –
elevation above sea level in metres) of the drill hole collar, dip
and azimuth of the hole, down hole length and interception depth
plus hole length.
- If the exclusion of this information is justified on the basis
that the information is not Material and this exclusion does not
detract from the understanding of the report, the Competent Person
should clearly explain why this is the case.
|
- No drilling was undertaken.
|
Data aggregation methods |
- In reporting Exploration Results, weighting averaging
techniques, maximum and/or minimum grade truncations (e.g., cutting
of high grades) and cut-off grades are usually Material and should
be stated.
- Where aggregate intercepts incorporate short lengths of
high-grade results and longer lengths of low-grade results, the
procedure used for such aggregation should be stated and some
typical examples of such aggregations should be shown in
detail.
- The assumptions used for any reporting of metal equivalent
values should be clearly stated.
|
- No drilling was undertaken.
|
Relationship between mineralisation widths and intercept
lengths |
- These relationships are particularly important in the reporting
of Exploration Results.
- If the geometry of the mineralisation with respect to the drill
hole angle is known, its nature should be reported.
- If it is not known and only the down hole lengths are reported,
there should be a clear statement to this effect (e.g., ‘down hole
length, true width not known’).
|
- No drilling was undertaken.
- Rock sample results are indicative in nature and, whilst
representatively sampling the target lithology, do not contain any
width or length information other than a qualitative description of
the target.
|
Diagrams |
- Appropriate maps and sections (with scales) and tabulations of
intercepts should be included for any significant discovery being
reported. These should include, but not be limited to a plan view
of drill hole collar locations and appropriate sectional
views.
|
- Refer to the body of the release for appropriate maps and
diagrams.
|
Balanced reporting |
- Where comprehensive reporting of all Exploration Results is not
practicable, representative reporting of both low and high grades
and/or widths should be practiced to avoid misleading reporting of
Exploration Results.
|
- All rock sample results are reported in Appendix 1. Soil sample
and stream sediment samples analytical results are not listed here
but summarised in diagrams and in the body of the release.
|
Other substantive exploration data |
- Other exploration data, if meaningful and material, should be
reported including (but not limited to): geological observations;
geophysical survey results; geochemical survey results; bulk
samples – size and method of treatment; metallurgical test results;
bulk density, groundwater, geotechnical and rock characteristics;
potential deleterious or contaminating substances.
|
|
Further work |
- The nature and scale of planned further work (e.g., tests for
lateral extensions or depth extensions or large-scale step-out
drilling).
- Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling
areas, provided this information is not commercially
sensitive.
|
- Refer to the body of the release.
|
No Section 3 or 4 report as no Mineral Resources or Ore Reserves
are reported in this Appendix
Photos accompanying this announcement are available at:
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