Kangan

Novo and Sumitomo Complete Earn-In Over Kangan Project at Egina With Essential Metals Limited

Retrieved on: 
Wednesday, December 16, 2020
Companies, Pioneer Resources, Sumitomo Group, Kangan, National Virtual Observatory, Sumitomo Corporation, Economy of Japan

VANCOUVER, British Columbia, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that it has, in conjunction with Sumitomo Corporation of Tokyo, Japan, completed its earn-in obligations and earned a 70% interest in precious metals rights on Essential Metals Limiteds (formerly Pioneer Resources Limited) (Essential) (ASX: ESS) Kangan project.

Key Points: 
  • VANCOUVER, British Columbia, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that it has, in conjunction with Sumitomo Corporation of Tokyo, Japan, completed its earn-in obligations and earned a 70% interest in precious metals rights on Essential Metals Limiteds (formerly Pioneer Resources Limited) (Essential) (ASX: ESS) Kangan project.
  • The Kangan project comprises a portion of the Companys Egina project (see figure 1 below).
  • We are excited to continue progressing exploration efforts and align the parties strategic objectives to maximize the potential of the prospective Egina project, commented Quinton Hennigh, Chairman and President of Novo.
  • We look forward to partnering with Sumitomo and our new joint venture partner, Essential, in order to advance the Kangan project and the broader Egina project.