Novus Gold Corp.: Drilling Starts on Ren Gold Property
(firmenpresse) - Novus Gold Corp.: Drilling Starts on Ren Gold Property
Novus Gold Corp. (TSX-V: NOV) is pleased to announce that drilling has commenced on its100%-owned REN gold property in the Northwest Territories. This drill program will last for six weeks prior to a break before the summer drill program begins.
Exploration work, completed in 2009 by Novus, confirmed that the REN property has a number of wide gold-bearing zones hosted in amphibolite iron formation and associated sedimentary rocks. The 2009 drill program consistently showed grades of 2-3 g/t gold over widths of 10-30 metres. Previous work by Cominco, Westview and Texasgulf concentrated on the Main Zone, in a seven- to 10-kilometre-long gold-bearing iron formation. The previous work outlined a gold-bearing zone 300 metres long and up to 300 metres deep. This zone is open along strike in both directions and at depth. This early work did not recognize the potential for large low-grade gold deposits. In addition, there are a number of parallel gold-bearing zones which have only had a cursory examination in the past.
The objective of the 2010 drilling program is to substantially increase the size of the Main Zone and to begin testing the large number of known gold showings on the 25,000 acre property.
Work is also continuing on the Company’s two gold/base metals projects in the Dominican Republic.
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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