Novo Receives Final Regulatory Approvals and Provides an Operational Update From Beatons Creek - Seite 2

Please see the Company’s news release dated December 17, 2020 for the Company’s previous operational update.

Development activities at Beatons Creek:

• IMCPL and Edwards Earthmoving Pty Ltd continue with project establishment and development works (see figure 3 below);
• IMCPL continue the equipment and personnel ramp up to site, with the fleet now comprised of : 3 x D10 dozers, 1 x Komatsu PC1250 excavator, 2 x Komatsu PC850 excavators, 3 x Cat 777 trucks, 6 x Cat 745 trucks and ancillary grading, water cart and service truck support equipment (see figure 4 below);
• Rivet have been named as the Company’s preferred contractor for crusher feed and haulage of ore between Beatons Creek and the Golden Eagle Mill. Importantly, Rivet were the incumbent contractor at site prior to the period of care and maintenance, bringing a wealth of local operating knowledge to the project. Rivet also bring intelligent MT Data systems to the project with fatigue monitoring systems ensuring operator and public safety, in addition to speed monitoring systems ensuring haulage speeds are managed through the early phase of the project that requires haulage through the town of Nullagine;
• Phase 2 grade control reverse circulation drilling has recommenced at Beatons Creek following completion of the initial grade control drilling program. The first four months of mill feed are now covered by grade control drilling, with ongoing works aimed at extending coverage over a longer period of time.
• Contractor maintenance and administration facilities have been installed at Beatons Creek. (see figure 5 below).
  

Refurbishment works on the Golden Eagle Mill:

Plant refurbishment:

• The GRES scope is now complete, with GRES personnel demobilizing from site later this week. Variances to the scope resulted in a superior outcome to the original plan and impressively this was completed within the budgeted cost;
• Key componentry has returned from refurbishment in Perth has all been reinstalled on schedule;
• The refurbishment of all 9 tanks, agitators, inter-tank screens, carbon transfer pumps and launders is now complete;
• Gravity circuit components have all been installed, pipework completed and powered up ahead of commissioning (see figure 6 and figure 7 below);
• Processing plant laboratory componentry has been refurbished and recommissioned and is now fully operational and manned ahead of plant commissioning;
• Novo has completed refurbishment works on the crusher feed bin, crusher and crusher stockpile feeders with the complete dry plant area ready for commissioning;
• Commissioning is now underway, with initial material feed to primarily consist of low grade stocks from historical mining conducted by Millennium Minerals and the balance of the 2016 Beatons Creek bulk sampling stockpile (see figure 8 and figure 9 below).