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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 5,500 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. 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 a lithium joint venture with SQM Australia Pty Ltd (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 wwadehammeron Dec 09, 2017 12:26pm
717 Views
Post# 27123688

Hard to believe

Hard to believeAttributed to Kaiser posted on HotCopper

Tonnage Note: 
The plan view tonnage footprint is a triangle 5 km by 3.3 km with a 6 km diagonal tracing the projection of the conglomerate bed daylighting under a Mt Roe Basalt. At this point only 1,000 m of daylighting conglomerate is exposed at surface; overburden to the northeast obscures the exact edge. The conglomerate is a combination of mafic clasts and sandy matrix. Basalt has a specific gravity of 2.8-3.0, which combined with the less dense matrix makes 2.6 a plausible choice. This triangular bed would have a surface area of (5 x 3.3 x 0.5) of 8.25 million sq m, a volume of 8.25 cubic m per 1 m of thickness, times 2.6 for a tonnage of 21.5 million tonnes per vertical m of thickness. Scout drilling within a 400 m by 200 m grid has established a true width thickness range of 4-15 m of conglomerate between crystalline basement and Mt Roe basalt. The lower part of the bed is dominated by mafic clasts while quartz clasts are present in the upper part of the thicker parts of the bed. Field observations at the surface where the bed's edge is obliquely exposed reveal that fossicker activity in the form of small pits to dig up nuggets beeped by a metal detector fades where the quartz cobbles show up. The basement surface undulates which explains the varying thickness. QH has commented that the less thick beds are all mafic clasts which suggests a prospective gold bearing horizon of at least 4 m thickness. On this basis the tonnage footprint would be 86 million tonnes of potentially gold bearing conglomerate. 2 rigs are on site for a core scout drilling program that will delineate the geometry of the conglomerate bed as well as the proportion of all mafic to mixed mafic-quartz clast composition. An 80 million tonne limit has been assumed for this OV.


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