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Novo Resources Corp T.NVO

Alternate Symbol(s):  NSRPF

Novo Resources Corp. is engaged in evaluating, acquiring, exploring, and developing natural resource properties with a focus on gold. The Company explores and develops its prospective land package covering approximately 7,500 square kilometers in the Pilbara region of Western Australia, along with the 22 square kilometer Belltopper project in the Bendigo Tectonic Zone of Victoria, Australia. The Company operates through two segments: care & maintenance operations and exploration operations.


TSX:NVO - Post by User

Post by WisGuy1on Sep 27, 2021 9:30am
153 Views
Post# 33923198

Tradeahead

Tradeahead
@Tradeahead @Onion These are first drill results from Talga Talga. As no-one clairvoyant has been directing the drills, except drilling within a pre-defined corridor, they are almost "Random" intercepts, and before they were drilled only a more rudimentary picture of the geology existed, most from surface sampling and a few historic attempts. 
 
Now, post drilling, the picture becomes much, much clearer, and given this clearer picture, the next batch of drilling will have a much higher likelihood of hitting high grade targets, both higher grade. longer intercepts, and more or them, as they will have an increased understand of where to drill. 
 
These results are way past expectations, and with such ore fed to the mill, NVO will be golden. 76,5 gram-meters and 70 gram-meters are really good, and more so especially for a "first drill campaign". Add to this, that this ore is within trucking distance from an existing producing mill which is profitable @ 2 g/t, meaning exceptional economics become possible.
 
Do not compare the g/t to deep underground mines such as Kirklands Fosterville, where the costs of reaching the gold has been very, very high. This is quite shallow, easy to get at, in comparison, so very economic.
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