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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 Jul 09, 2020 10:44am
182 Views
Post# 31245055

Red Cloud July 9th

Red Cloud July 9th@Haskaps Red Cloud July 09th; Novo Resources Corp. (TSXV:NVO, Derek Macpherson) announced positive MAK sampling results across its 100%-owned Egina mining lease, M47/560, in Western Australia. The results indicate widespread gold potential within terrace gravels representing approximately 5km2 out of the company’s nearly 2,500km2 terrace holdings. The systematic sample results provide an encouraging picture of how gold could be distributed over broader parts of the project. MAK sampling has continued since Novo resumed its 2020 field season a few weeks ago. 342 MAK samples have been collected and processed from targeted terrace gravels across much of M47/560, notably, the northwest and southern portion of the claim are yielding positive results. The next phase of exploration in M47/560 is expected to encompass bulk sampling of 30-50 m3 of gravel that is then processed through the company’s IGR 3000 alluvial test plant to quantify grades. Novo anticipates processing at least 120 bulk samples over the next 6 months. Further, multiple additional prospective gravel targets have been identified across the greater Egina terrace gold project in which Novo plans to conduct 1,100 MAK samples in 2020. Late in 2020, the company anticipates collecting and trucking some bulk samples to its mechanical sorting plant at Purdy’s Reward, approximately 50km south of the city of Karratha, as a potentially viable means of gold recovery
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