Comet Well Tenements Granted
December 13 2017 - 9:49AM
Novo Resources Corp. (
“Novo” or
the
“Company”) (TSX-V:NVO); (OTCQX:NSRPF) is
pleased to announce that tenements at Comet Well have been granted
by the Department of Mines, Industry Regulation and Safety in
Western Australia (“
DMIRS”). Novo is now entitled
to commence exploration work on the Comet Well Tenements directed
at satisfying conditional farm-in rights Novo holds with respect to
Comet Well. If those commitments are satisfied and other conditions
under the Comet Well agreements are met, including seeking and
obtaining consents as required under the Mining Act 1978, Novo will
ultimately hold an 80% interest in the Comet Well tenements via two
joint ventures. Novo will work diligently to satisfy those
conditions and will report to the market as those conditions are
satisfied. As previously announced, Novo has already obtained TSX
Venture Exchange approval, required clearances under the Foreign
Acquisitions and Takeovers Act 1975, and a heritage agreement
covering the Comet Well project has been signed with Ngarluma
Aboriginal Corporation. Novo expects to commence field exploration
at Comet Well as soon as Programmes of Work are approved by DMIRS.
“Now that these tenements have been granted and
subject to the approval of our proposed Programmes of Work, we can
aggressively begin to explore the Comet Well project which we
believe contains a continuation of prospective mineralization along
strike from Purdy’s Reward,” commented Dr. Quinton Hennigh,
Chairman, President and a director of Novo Resources Corp. “We look
forward to providing updates as exploration progresses on the Comet
Well project.”
About Novo Resources
Corp.Novo’s focus is to explore and develop gold projects
in the Pilbara region of Western Australia, and Novo has built up a
significant land package covering approximately 12,000 sq km. Novo
also controls a 100% interest in approximately 2 sq km covering
much of the Tuscarora Au-Ag vein district, Nevada. For more
information, please contact Leo Karabelas at (416) 543-3120 or
e-mail leo@novoresources.com.
Forward-looking informationSome statements in
this news release contain forward-looking information (within the
meaning of Canadian securities legislation) including, without
limitation, the statement as to the expected receipt of regulatory
approval. 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
receipt of TSX Venture Exchange approval.
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.
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