Novo Resources to Acquire Mt. Elsie Gold Project, Western Australia
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Novo Resources has entered into a binding terms sheet to acquire three exploration licenses (Mt. Elsie Projec) comprising an area of approximately 19km2 located 75 km north-east of the town of Nullagine, Western Australia and adjacent to numerous Novo wholly-owned tenements. The acquisition is conditional upon receipt of any consents or approvals required under the Mining Act 1978 (WA) and the acceptance of the TSX Venture Exchange.
“The acquisition further strengthens one of Novo’s goals, being consolidation of highly prospective gold projects in the East Pilbara region near the company’s Beatons Creek project,” said Quinton Hennigh, president, chairman, and a director of Novo Resources.
“Numerous high-priority bedrock and alluvial gold targets have been identified by Novo staff at the Mt. Elsie Project. Novo plans to soon undertake work designed to generate drill targets for testing later this year. We see the Mt. Elsie Project as a new, important part of our strategy to build a future hub of production around our well-advanced Beatons Creek gold project near Nullagine,” added Hennigh.
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 13,000 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.
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