TSX NVO

TSX NVO.WT

TSX NVO.WT.A

OTCQX NSRPF

Reserves & Resources

The Indicated and Inferred Mineral Resources at Novo’s Beatons Creek Conglomerate Gold Project are outlined in the table below:

Open Pit Mineral Resources (oxide and fresh mineralisation)

Classification

Cut-off grade (g/t)

Tonnes

Gold grade (g/t)

Contained gold (oz)

Indicated
Inferred
0.5
0.5
6,645,000
3,410,000
2.1
2.7
457,000
294,000

Open Pit Mineral Resources (oxide mineralisation only)

Classification

Cut-off grade (g/t)

Tonnes

Gold grade (g/t)

Contained gold (oz)

Indicated
Inferred
0.5
0.5
4,500,000
765,000
1.9
1.8
272,000
44,000

Open Pit Mineral Resources (fresh mineralisation only)

Classification

Cut-off grade (g/t)

Tonnes

Gold grade (g/t)

Contained gold (oz)

Indicated
Inferred
0.5
0.5
2,145,000
2,645,000
2.7
2.9
185,000
250,000

Underground Mineral Resources (fresh mineralisation)

Classification

Cut-off grade (g/t)

Tonnes

Gold grade (g/t)

Contained gold (oz)

Indicated
Inferred
3.5
885,000
5.3
152,000

Total Mineral Resources (oxide and fresh mineralisation, open pit and underground)

Classification

Cut-off grade (g/t)

Tonnes

Gold grade (g/t)

Contained gold (oz)

Indicated
Inferred
0.5
0.5, 3.5
6,645,000
4,295,000
2.1
3.2
457,000
446,000

Notes:

  1. Open pit Mineral Resources contain oxide and fresh mineralisation within an optimised shell and constrained within a mineralised wireframe. A cut-off grade of 0.5 g/t gold was applied.
  2. An optimised Whittle pit shell was estimated with the following indicative parameters:
    • US$1,311 (AU$ $1,850) / troy ounce
    • Metallurgical recoveries of 95% oxide and 90% fresh
    • SGs applied: Oxide 2.40 t/m3 and fresh 2.85 t/m3 based on measurements taken on drill core
    • US$2.40 / tonne mining cost for oxide and US$3.68 / tonne for fresh
    • US$17.00 / tonne oxide and US$19.00 / tonne fresh processing cost
    • US$3.00 / tonne general and administrative costs.
  3. Underground Mineral Resources contain fresh mineralisation outside the optimised shell. Underground resources are constrained to discrete areas of contiguous mineralisation.  A cut-off grade for underground resources of 3.5 g/t gold has been applied.
  4. Totals may not sum due to rounding.