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Novo Resources Corp T.NVO

Alternate Symbol(s):  NSRPF

Novo Resources Corp. is a gold explorer focused on discovering gold projects. The Company is engaged primarily in the business of evaluating, acquiring, exploring, and developing natural resource properties with a focus on gold. It has a land package covering approximately 6,700 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. Its key project area is the Egina Gold Camp, where De Grey Mining is farming-in to form a JV at the Becher Project and surrounding tenements through exploration. The Company is also advancing gold exploration at Nunyerry North. It focuses on undertaking early-stage exploration across its Pilbara tenement portfolio. It has also formed lithium joint ventures with both Liatam and SQM in the Pilbara which provides shareholder exposure to battery metals. Its Belltopper Gold Project comprises the adjacent Malmsbury and Queens projects.


TSX:NVO - Post by User

Bullboard Posts
Post by Wallstreet1112on Nov 04, 2017 10:14am
318 Views
Post# 26905607

Prospective land

Prospective landRegarding the amount of prospective land I guess that depends first of all on what QH believes to be the best land. Given that QH seems mostly focused on the North/north-western Pilbara region, then it might be that he thinks not all Mt Roe cconglomerates are created equal (which I guess we already assumed). After hearing more and more about the potential of Kyleena and Hardey covering gold as well, then the areas that are stacked with some or all of them might be even better than Mt Roe only (MIGHT).

The only way a 75%+ number would be correct (Sprott mentioned that QH said 90%) would be if the Mount Roe to Kyleena stratigraphy located in the north-western Pilbara would be the bulls eye in terms of simply stratigraphy and "basin" location.

I do think a lot of the juniors have only a slice of at least what we ATM consider the main targets. De Grey has a slice of 15km2 + Louden's. DGO has a very small slice, but they might have something under the almost identical aged rock near their Mt Roe discoveries. Novo has at least 20 times the area of Mt Roe-Kyleena than most juniors in the north-western Pilbara.

With that said, Novo is probably downplaying other companies claims (the "90%" comment) and downplaying how extensive the gold bearing land in pilbara might be... That points to not wanting to raise the alarm about others having valuable ground as well. The only real play I have heard QH comment on is De grey's discovery, where Novo owns more than twice as much of the target compared to De Grey.
Bullboard Posts