NOVO RESOURCES COR COM NPV (OTCMKTS:NSRPF) Joins The Australian Gold Rush

Gold mining in Western Australia is being referred to as a “21-century gold rush” by the media, and precious metals industry pundits. When you combine the gold discoveries in Western Australia with increased demand for gold resulting from current worldwide perceived geo-political instability, and technological innovation requiring the use of gold, the potential opportunity becomes self-evident. NOVO RESOURCES COR COM NPV (OTCMKTS:NSRPF) is positioning itself to capitalize on this opportunity.For the benefit of those not familiar with the Company, Novo Resources Corp. evaluates, acquires and explores gold properties. Indirect subsidiaries of Novo hold a 100% interest in the Beatons Creek gold project, a 70% interest in properties surrounding Beatons Creek and Marble Bar, a 100% interest in the Blue Spec gold-antimony project, and options covering approximately 400 square km over the Mosquito Creek Basin, all in the Pilbara region, Western Australia.Novo also controls a 100% interest in approximately 2 sq km covering much of the Tuscarora Au-Ag vein district, Nevada, USA. The Company's present focus is its Beatons Creek and Marble Bar paleoplacer gold projects in Western Australia. The Beatons Creek Tenements cover extensive exposures of the Beatons Creek conglomerates, a series of Archaean age pyritic conglomerates hosting gold mineralization.Novo Resources Corp. provided its shareholders with update on Sept. 21, 2017 regarding the exploration activities at its Karratha gold project, Western Australia. Novo recently received the necessary Plan of Work approvals for core drilling at the Purdy’s Reward prospect.The Purdy’s Reward tenement is part of a farm-in and joint venture Novo has with ASX-listed Artemis Resources Limited, and is part of Novo’s greater Karratha gold project. Core drilling began around September 27th, and large diameter drilling will begin around October 15th. Preliminary trenching activities have begun.Novo has recently mobilized a 35-tonne excavator to site which, in addition to helping construct drill pads, will be used to open up several exploration trenches at Purdy’s Reward. Bulk samples from large diameter reverse circulation drilling and trenching will be delivered to Nagrom Metallurgical Laboratory, Perth for detailed analysis. Laboratory turnaround is expected in early December of 2017. Dr. Quinton Hennigh, President, Chairman and Director of Novo Resources Corp. commented:

“We are eager to commence exploration activities at Karratha. We anticipate diamond core drilling to provide us with a good handle on stratigraphy and target depths. Follow-up large diameter reverse circulation drilling will provide necessary bulk sample material to evaluate grades of this very nuggety gold system. Similarly, bulk samples collected from trenching will provide critical data on grade and gold distribution. Karratha is a very exciting gold discovery, and Novo is ready to meet the challenge of exploring it.”

On Sept. 19, 2017, Novo Resources Corp. and certain of its Australian subsidiaries announced that they have entered into a binding terms sheet with Calidus Resources Limited whereby Calidus will have the right to earn a 70% interest in, and to certain Novo tenements surrounding Calidus’ Warrawoona project in Western Australia. In order to earn a 70% interest in and to the Novo Tenements, Calidus must incur exploration expenditures of AUD $2,000,000 over three years. The Novo Tenements are comprised of four exploration licenses and three prospecting licenses.In other financial news, Novo Resources Corp. announced on Sept. 06, 2017 that it has closed its previously announced non-brokered equity private placement, and is pleased to welcome Kirkland Lake Gold as a new strategic investor. The Financing raised gross proceeds of $56,000,000 by the issuance of 14,000,000 units (each a “Unit”) at a price of $4.00 per Unit. The net proceeds from the Financing will primarily be used by the Company to develop and explore the Company’s projects and for general working capital purposes.

NSRPF stock has been trading on a strong upward trend with higher than average volume since the beginning of July 2017. The move started on July 12, 2017 at $.7660, and has been steadily trading up ever since to a high of $7.08 on October 4 ,2017. The stock is currently trading at $6.51. The latest quarterly financial reports dated June 30, 2017 indicate that the Company is still pre-revenue. However, the Company has a strong balance sheet with plenty of cash and other assets needed to execute its strategy. Current market capitalization stands at $283.91 million, on 538.84 million shares outstanding as of October 4, 2017.The production of a precious metal (Gold) that is so versatile that it can be used for everything from hedging against unstable governments, to technological applications, to tooth fillings, to making jewelry, is a safe investment if the business is run competently. Novo Resources Corp. seems to be on the right path. Once the Company completes the exploratory phase and production commences, revenues to the Company will soon follow. The savvy investor will keep an eye on NSRPF and watch for the commencement of production.We will be updating our subscribers as soon as we know more. For the latest updates on NSRPF, sign up below!Image courtesy of ChrisJS2 via FlickrDisclosure: We have no position in NSRPF and have not been compensated for this article.