Shire of Macedon Ranges

Novo Completes Malmsbury Option Exercise with GBM Resources Limited

Retrieved on: 
Thursday, May 13, 2021
Equity securities, Malmsbury, Victoria, Shire of Macedon Ranges, Share, XE-class submarine

"We see Malmsbury as a Fosterville analogue given its similar position along the eastern margin of the prolific Bendigo Zone, epizonal orogenic setting and historic high-grade gold production.

Key Points: 
  • "We see Malmsbury as a Fosterville analogue given its similar position along the eastern margin of the prolific Bendigo Zone, epizonal orogenic setting and historic high-grade gold production.
  • "\nNovo has issued 1,575,387 common shares (the \xe2\x80\x9cOption Shares\xe2\x80\x9d) to GBM as consideration for the exercise of the option.
  • The Option Shares are subject to a statutory hold period expiring on September 14, 2021.
  • In addition to the Company\xe2\x80\x99s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders.

Novo Exercises Option Over Kalamazoo Resources’ Queens Gold Project

Retrieved on: 
Monday, March 22, 2021
Malmsbury, Victoria, Shire of Macedon Ranges, National Virtual Observatory

VANCOUVER, British Columbia, March 22, 2021 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (TSX: NVO & NVO.WT; OTCQX: NSRPF) is pleased to announce that it has exercised its option to earn a 50% interest in the Queens gold project (the Queens Project) located in the Bendigo zone of Australias Victorian goldfields (figure 1 and figure 2 below) and held by ASX-listed Kalamazoo Resources Limited (ASX: KZR) (Kalamazoo).

Key Points: 
  • VANCOUVER, British Columbia, March 22, 2021 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (TSX: NVO & NVO.WT; OTCQX: NSRPF) is pleased to announce that it has exercised its option to earn a 50% interest in the Queens gold project (the Queens Project) located in the Bendigo zone of Australias Victorian goldfields (figure 1 and figure 2 below) and held by ASX-listed Kalamazoo Resources Limited (ASX: KZR) (Kalamazoo).
  • Novo has issued 584,215 common shares (the Option Shares) to Kalamazoo as consideration for the exercise of the option.
  • Malmsbury is a very high value Victorian gold target with strong geologic similarities to the high-grade Fosterville deposit approximately 55 km to the north, commented Quinton Hennigh, Chairman and President of Novo Resources.
  • If Novo does not satisfy the Earn-In Amount during the Earn-In Period, Novos interest in the Queens Project will decrease to 49%.

Novo Exercises Option Over GBM Resources’ Malmsbury Gold Project

Retrieved on: 
Thursday, September 24, 2020
Options, Malmsbury, Victoria, Shire of Macedon Ranges, Exercise, National Virtual Observatory

VANCOUVER, British Columbia, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that it has exercised its option to earn a 50% interest (the Interest) in the Malmsbury gold project (the Malmsbury Project) held by ASX-listed GBM Resources Limited (ASX: GBZ) (GBM).

Key Points: 
  • VANCOUVER, British Columbia, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that it has exercised its option to earn a 50% interest (the Interest) in the Malmsbury gold project (the Malmsbury Project) held by ASX-listed GBM Resources Limited (ASX: GBZ) (GBM).
  • We are pleased to exercise our option over the Malmsbury project, commented Quinton Hennigh, Chairman and President of Novo.
  • Novo believes that it now holds one of the most prospective high-grade gold projects in the Victorian gold fields.
  • Upon satisfaction of the Conditions, Novo will issue 1,575,387 common shares (the Option Shares) to GBM as consideration for the exercise of the option.

Novo Acquires Option Over Kalamazoo Resources Limited’s Queens Project

Retrieved on: 
Tuesday, September 22, 2020
Malmsbury, Victoria, Shire of Macedon Ranges, National Virtual Observatory

VANCOUVER, British Columbia, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that it has been granted an option and an additional earn-in right to acquire an initial 50% interest in ASX-listed Kalamazoo Resources Limiteds (Kalamazoo) Queens gold project (the Queens Project) located in the Bendigo zone of Australias Victorian goldfields (collectively, the Transaction) (please see Figure 1 and Figure 2 below for maps of the Queens Project), with the possibility of an increase to an 80% interest, as described below.

Key Points: 
  • VANCOUVER, British Columbia, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that it has been granted an option and an additional earn-in right to acquire an initial 50% interest in ASX-listed Kalamazoo Resources Limiteds (Kalamazoo) Queens gold project (the Queens Project) located in the Bendigo zone of Australias Victorian goldfields (collectively, the Transaction) (please see Figure 1 and Figure 2 below for maps of the Queens Project), with the possibility of an increase to an 80% interest, as described below.
  • The Queens Project encircles the core of ASX-listed GBM Resources Limiteds Malmsbury gold field and covers multiple structural extensions of the primary lode Au deposits of this important high-grade gold camp.
  • Novo holds an option to purchase-joint venture the Malmsbury Project with GBM Resources Ltd. With the addition of the Queens Project Transaction, Novo will hold an interest in the entirety of the Malmsbury gold field.
  • If Novo does not satisfy the Earn-In Amount during the Earn-In Period, Novos interest in the Queens Project will decrease to 49%.

Novo Acquires Stake in ASX-Listed GBM Resources Limited and Option Over Malmsbury Gold Project

Retrieved on: 
Monday, March 30, 2020
eSports, Malmsbury, Victoria, Shire of Macedon Ranges, GBM, Game players

Each GBM Unit will be comprised of one ordinary share of GBM and one-half-of-one ordinary share purchase warrant (each a GBM Warrant).

Key Points: 
  • Each GBM Unit will be comprised of one ordinary share of GBM and one-half-of-one ordinary share purchase warrant (each a GBM Warrant).
  • Immediately subsequent to the issuance of the GBM Units, Novo will own approximately 4.13% of the issued and outstanding ordinary shares of GBM.
  • Novo will have a six-month period (the Initial Period) to confirm social license to explore the Malmsbury Project and conduct other due diligence while awaiting the grant of the Malmsbury Project Retention Licence RL6587 to GBM.
  • This highlights the Malmsbury Project as an underexplored project that is a priority for renewed exploration by GBM and Novo.