Novus Gold Corp.
NEX BOARD : NOV.H

Novus Gold Corp.

October 08, 2009 10:21 ET

Novus Gold Receives Updated Copper Assays from its Dominican Republic Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 8, 2009) - Novus Gold Corp. (NEX BOARD:NOV.H) has received updated copper assays from its exploration program on the company's La Yagua gold property (9,900 hectares) located in the Dominican Republic (DR). The work has led to the discovery of a one-kilometre-long, north-south-trending, gold-copper mineralized structure outlined by gossans as reported in a press release on August 12, 2009.

The mineralized zone displays classic volcanogenic massive sulphide (VMS) characteristics: rock alteration consists of quartz-sericite, sericite and chlorite and is stratabound between an andesite footwall and a dacite hangingwall. The following significant assays were received from samples taken from trenches and outcrop over a length of 780 meters. Detected mineralization extends for a total length of one kilometer.



TRENCH 1 ASSAY VALUES

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Sample Location Au ppb Ag ppb Cu (%) Latitude Longitude
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RV-37 TR1 4,006.8 13,346 2.33 2,072,004 379,132
HM-20 TR1 3,352.2 32,370 3.32 2,072,011 379,122
RV-34 TR1 2,250.6 15,430 3.77 2,072,004 379,132
HM-24 TR1 1,975.5 173g/t 21.33 2,072,004 379,132
RV-36 TR1 1,672.6 12,057 1.03 2,072,004 379,132
RV-32 TR1 1,193.0 8,017 1.79 2,072,004 379,132
RV-35 TR1 1,015.2 14,445 1.92 2,072,004 379,132
HM-26 TR1 634.3 70,452 3.61 2,072,004 379,132
HM-21 TR1 354.6 1,732 0.39 2,072,011 379,122
RV-33 TR1 329.5 559 3.89 2,072,004 379,132
HM-16 TR1 169.0 1,712 2.08 2,072,005 379,129
HM-15 TR1 153.6 577 0.46 2,072,003 379,138
RV-30 TR1 10.3 128 0.82 2,072,004 379,132
HM-30 TR1 8.6 6,293 0.41 2,072,004 379,132
RV-31 TR1 5.8 10,045 0.35 2,072,004 379,132
HM-29 TR1 5.3 406 0.59 2,072,004 379,132
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TRENCH 2 ASSAY VALUES

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Sample Location Au ppb Ag ppb Cu (%) Latitude Longitude
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HM-31 TR2 13,007.6 29,378 18.34 2,072,062 379,118
HM-09 TR2 7,009.9 55,386 0.58 2,072,069 379,128
HM-17 TR2 4,713.3 50,260 10.96 2,072,062 379,118
HM-28 TR2 3,806.7 7,536 5.75 2,072,062 379,118
HM-18 TR2 785.3 41,698 7.88 2,072,062 379,118
HM-19 TR2 745.2 39,519 6.60 2,072,062 379,118
HM-34 TR2 596.6 15,163 0.19 2,072,062 379,118
HM-10 TR2 534.7 30,636 0.63 2,072,069 379,128
HM-27 TR2 109.5 1,053 1.08 2,072,062 379,118
HM-08 15.0 121 0.12 2,072,098 379,085
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TRENCH 3 ASSAY VALUES

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Sample Location Au ppb Ag ppb Cu (%) Latitude Longitude
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HM-11 TR3 408.0 478 1.30 2,072,178 379,096
HM-12 TR3 46.1 654 0.62 2,072,166 379,106
HM-13 TR3 285.6 2,141 0.30 2,072,156 379,105
HM-25 TR3 25.8 80 0.58 2,072,176 379,085
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CHERTY GOSSAN ASSAY VALUES

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Sample Location Au ppb Ag ppb Cu (%) Latitude Longitude
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RLY-31 (3) Chert gossan 11,090.0 32,994 0.97 2,072,523 379,148
RLY-31(4) Chert gossan 9,734.7 43,551 1.61 2,072,473 379,151
RLY-31 (2) Chert gossan 6,735.3 35,674 0.48 2,072,523 379,148
RLY-31 Chert gossan 1,511.0 5,728 0.38 2,072,523 379,148
HM-23 Chert gossan 971.3 1,393 0.06 2,072,522 379,144
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Gossans located on parallel structures also have significant mineralization.



PARALLEL ASSAY VALUES

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Sample Location Au ppb Ag ppb Cu (%) Latitude Longitude
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RLY-60 Parallel structure 8,416.0 17,064 2.95 2,072,625 378,867
RV-05 Parallel structure 4,558.0 15,404 1.21 2,072,428 378,962
N-S contact
RLY-51 Extension 172.8 1,575 1.61 2,072,784 379,096
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The mineralization on the La Yagua property is located on the same stratigraphic interface as the Cerro de Maimon mine (Globestar Mining) located 19 kilometres away that is exploiting a VMS deposit (six megatonnes of 2.5 per cent Cu, 1.2 g/t Au, 38 g/t Ag and 1.5 per cent Zn). There is potential for 14 kilometres of this favourable interface on the Novus property.

Mining in the Dominican Republic

The DR is a stable Caribbean country that occupies the eastern two-thirds of the island of Hispaniola, with Haiti occupying the remaining one-third. Mining activity has a long history going back to Christopher Columbus in 1492. In modern times, the DR government extracted 5.5 million ounces of gold from the Pueblo Viejo deposit between 1971 and 1984. Only the oxide faces of this 30 million ounce gold resource were mined, leaving the residual sulphide mineralization intact. The deposit is presently owned by Barrick and Goldcorp (60 and 40 per cent respectively). On Feb. 27, 2008, Barrick submitted a feasibility study to the DR government for the development of this gold resource. The study projected a resource of 20.4 million ounces of gold, 117.3 million ounces of silver, 423.6 million pounds of copper and 2.7 billion pounds of zinc to be mined over a 25-year mine life.

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

On behalf of the board of directors of NOVUS GOLD CORP

Mike Magrum, President

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Novus Gold Corp.
    Gunther Roehlig
    Director
    (604) 688-0335
    (604) 683-7161 (FAX)
    www.NovusGold.com