Novo Announces Plans to Acquire and Field Test a Steinert Mechanical Sorter at Purdy's Reward / Comet Well
Novo Resources Corp. ("Novo" or the "Company") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that it is in advanced discussions with Steinert Australia Pty Ltd ("Steinert") to procure a 1.0m wide KSS 100F LIXT fine mechanical sorting unit, to be deployed at the Company's wholly-owned Purdy's Reward and Comet Well JV gold projects during the 2020 field season (see Figure 1 below). The sorter will be manufactured by Steinert in Germany with an expected 18 week delivery time to Australia (see Figure 2 below).
Approvals are being prepared for field testing of up to 10,000 tonnes of material from Purdy's Reward, Comet Well, and 47K, respectively (total up to 30,000 tonnes). Novo also plans to utilize this sorter to test field exploration samples delivered from its other projects including Egina. Field test work will be designed to better understand gold grades, the extent and location of mineralized conglomerate units, evaluate mechanical sorter gold recovery at production throughput rates and of various sorted size fractions, and provide critical input concerning operational costs.
"This is a very exciting development for Novo," commented Rob Humphryson, Novo's CEO and a director. "We have achieved outstanding laboratory level mechanical sorting test results utilizing both Steinert and TOMRA sorters. It's now time to field test productivity and performance. This Steinert unit will be equipped with technology that is capable of testing material from all our coarse gold projects. It should be noted that both Steinert and TOMRA produce first-class sorting units and the decision to initially deploy a Steinert unit into the field is more a reflection of local, non-technical factors than any distinct differentiation of capabilities. Should field testing of mechanical sorting prove successful, it is likely that the final utilization of this technology will involve a hybrid solution involving equipment from both suppliers. In light of this, we intend to maintain a close working relationship with both suppliers."
About Novo Resources Corp.
Novo's focus is primarily to explore and develop gold projects in the Pilbara region of Western Australia, and Novo has built up a significant land package covering approximately 13,750 square kilometres with varying ownership interests. In addition to the Company's primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail email@example.com
On Behalf of the Board of Directors,
Novo Resources Corp.
President and Chairman
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, statements as to planned exploration activities involving a Steinert mechanical sorting machine. 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, the successful conclusion of negotiations to acquire the Steinert mechanical sorting machine, obtaining the necessary approvals to conduct the planned field testing, customary risks of the mineral resource industry as well as the performance of services by the equipment, once acquired, and third parties.
Figure 1: http://ml.globenewswire.com/Resource/Download/278220ff-d33a-47b2-85b8-9cdfc6acc309
Figure 2: http://ml.globenewswire.com/Resource/Download/2b680254-a24f-40dd-9c6b-525d89d58372