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Novus Gold Corp. (NOV:CA)
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Web site:
http://www.novusgold.com/
Novus Gold Corp. is a Canadian-based gold explorer, which has assembled a proven team, with the capabilities to find, finance and develop gold assets which have world class size and grade potential. In a financially uncertain world, gold has come back as the currency which is accepted everywhere. The Canadian Shield in Canada and the Caribbean Platform in the Dominican Republic are two regions that the company has selected to begin acquisitions and work.
Dominican Republic Properties
- Recent exploration program on La Yagua property has led to the discovery of a one kilometer long, north-south trending, gold and copper VMS structure
- Portion of proceeds from recent $2.65 million dollar financing to be used for aggressive exploration on La Yagua in early 2010
- The La Paciencia property (8,600 hectares) underlain by same geology as Pueblo Viejo gold deposit located 10 kilometres to the east – ground-based exploration commencing 2010
- Both properties are approximately 1 hour NW of Dominican Republic's capital city, Santo Domingo
REN Property – Northwest Territory
- Novus and Terra announce wide gold zone identified by drilling on REN Property (see News Release)
- Gold assay values ranging between 2 to 3 g/t were reported for intersections that ranged from 10.61 to 32.76 metres
- High-grade gold, up to 22.40 g/t gold across 0.65 metres, was also intersected within the zone
- $1,500,000 drilling program on nine holes completed December 2009
- Novus Gold has 49% working interest (Terra Ventures has remaining 51% working interest) in 14 mineral exploration claims comprising 24,674 acres
- These properties host banded iron-hosted gold showings in the Point Lake area, approximately 90 kilometres southwest of the formerly producing Lupin gold mine, owned by Kinross Gold Corp
- Property located approximately 320 kilometres north of Yellowknife
NOV:CA
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