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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 Apr 11, 2018 9:29am
303 Views
Post# 27865277

Trial Mining

Trial MiningBoth QH and De Luca have used the term in recent presentations and interviews so it's coming.  IMO the diamond drilling is more important than the bulk samples.  The drilling tells them where and how much they have to strip to get to the gold bearing layers.  Any grade over 10 gpt within 100 meters of the surface will be economical to mine - very economical.  Bulk samples over a wide area greater than 10 gpt will trigger trial mining, which if sucessful, will trigger a decision on building a plant and starting full scale mining.  Probably over a year to that decision.  Bulk sampling results completed by end of August with permits hopefully in hand to start trial mining.  Will Novo truck the ore to another plant or create some-kind of mobile plant?  I'll bet you could tell us the best way to do that Rhino 10.

Novo will keep exploring for other Purdys/Comet like deposits during that time and will drill down-dip hoping to find fine gold.  Future looks bright to me.  Maybe no huge run-up quick but a slow but steady increase as trial mining proves real value.
Bullboard Posts