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News
05.03.2010
Novus Gold Corp.: Sampling Returns 2.83 g/t Gold over 48.98 Metres at REN Property
Novus Gold Corp.: Sampling Returns 2.83 g/t Gold over 48.98 Metres at REN Property
Vancouver, March 5, 2010 - Novus Gold Corp. (TSX-V:NOV) is pleased to announce the first batch of gold assay results of re-sampled drill core obtained from Cominco Ltd.’s previous exploration programs (1988 and 1990) conducted on the Company’s 100% owned REN gold property in the Northwest Territories. The gold assay results confirm the continuity of a wide, low-grade gold zone to a vertical depth of more than 230 metres. This sampling program will test approximately 30 previously drilled holes for wide zones of low-grade mineralization
Exploration work completed in 2009 by Novus discovered that the REN property has a number of wide gold-bearing zones hosted in amphibolite iron formation and associated sedimentary rocks.
An ongoing drill core sampling and logging program of drill core is being carried out with the core being split for assay and previously sampled sections are being quartered using a rock saw.
Drill hole 35 and 56 intersect the gold-bearing zone approximately 120 metres apart. The estimated apparent thickness for drill hole 35 is approximately 38 metres and for drill hole 56 is approximately 11 metres. The estimated vertical depth for drill hole 35 is approximately 158 metres and for drill hole 56 is approximately 239 metres.
In addition to sampling the core from Cominco drilling carried out between 1988 and 1990, more sampling will be carried out on the drill holes previously reported by Novus from its 2009 drilling program. After examining the 2009 drilling results, it is possible that the gold-bearing zone is wider than previously thought.
Initial assay results are listed below.
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Drill Hole Grid Grid Azi. Dip From To Width Au
UTM E UTM N (m) (m) (m) g/t
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COM-89-35 407599 7252619 East -45 223.02 272.00 48.98 2.83
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Including 242.15 261.20 19.05 5.07
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Including(i) 255.00 255.75 0.75 10.55
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COM-90-56 407805 7252805 West -70 255.41 269.85 14.44 2.12
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Including(i) 259.77 260.76 0.99 5.31
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*highest gold for a single assay interval reported within each drill hole
COM = drilling completed by Cominco in 1989 and 1990
The azimuth and dip angles determined from observed collars during exploration work completed by Novus in October 2009.
Mike Magrum, PEng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.
For further information visit the company's website at www.novusgold.com or contact Ryan Johnson, Investor Relations, at 1-604-688-0335.
On behalf of the board of directors of
NOVUS GOLD CORP.
“Mike Magrum”
Mike Magrum, President
NEITHER THE 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.
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
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Vancouver, March 5, 2010 - Novus Gold Corp. (TSX-V:NOV) is pleased to announce the first batch of gold assay results of re-sampled drill core obtained from Cominco Ltd.’s previous exploration programs (1988 and 1990) conducted on the Company’s 100% owned REN gold property in the Northwest Territories. The gold assay results confirm the continuity of a wide, low-grade gold zone to a vertical depth of more than 230 metres. This sampling program will test approximately 30 previously drilled holes for wide zones of low-grade mineralization
Exploration work completed in 2009 by Novus discovered that the REN property has a number of wide gold-bearing zones hosted in amphibolite iron formation and associated sedimentary rocks.
An ongoing drill core sampling and logging program of drill core is being carried out with the core being split for assay and previously sampled sections are being quartered using a rock saw.
Drill hole 35 and 56 intersect the gold-bearing zone approximately 120 metres apart. The estimated apparent thickness for drill hole 35 is approximately 38 metres and for drill hole 56 is approximately 11 metres. The estimated vertical depth for drill hole 35 is approximately 158 metres and for drill hole 56 is approximately 239 metres.
In addition to sampling the core from Cominco drilling carried out between 1988 and 1990, more sampling will be carried out on the drill holes previously reported by Novus from its 2009 drilling program. After examining the 2009 drilling results, it is possible that the gold-bearing zone is wider than previously thought.
Initial assay results are listed below.
----------------------------------------------------------------------------
Drill Hole Grid Grid Azi. Dip From To Width Au
UTM E UTM N (m) (m) (m) g/t
----------------------------------------------------------------------------
COM-89-35 407599 7252619 East -45 223.02 272.00 48.98 2.83
----------------------------------------------------------------------------
Including 242.15 261.20 19.05 5.07
----------------------------------------------------------------------------
Including(i) 255.00 255.75 0.75 10.55
----------------------------------------------------------------------------
----------------------------------------------------------------------------
COM-90-56 407805 7252805 West -70 255.41 269.85 14.44 2.12
----------------------------------------------------------------------------
Including(i) 259.77 260.76 0.99 5.31
----------------------------------------------------------------------------
----------------------------------------------------------------------------
*highest gold for a single assay interval reported within each drill hole
COM = drilling completed by Cominco in 1989 and 1990
The azimuth and dip angles determined from observed collars during exploration work completed by Novus in October 2009.
Mike Magrum, PEng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.
For further information visit the company's website at www.novusgold.com or contact Ryan Johnson, Investor Relations, at 1-604-688-0335.
On behalf of the board of directors of
NOVUS GOLD CORP.
“Mike Magrum”
Mike Magrum, President
NEITHER THE 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.
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA67010Y1025">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA67010Y1025</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.