Novo Resources Corp T.NVO

Alternate Symbol(s): NSRPF

Metals & Mining Gold

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

Novo Resources Corp

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Comment by LiquidForumon Dec 21, 2018 7:22pm

75 Views

Post# 29149123

RE:RE:RE:RE:RE:RE:Egina Will Be a Game Changer Alright

TXRogers wrote:

goldencraton wrote:

goldencraton wrote:

goldencraton wrote:

Hi GH11,
I think you might be mixing the Egina and Karatha numbers together.
I’m just looking at Egina here…
107grams divided by 170 tonnes = .63 gpt
Minus about 10% for silver content = So actually .57gpt net gold + .06 gpt silver.
I believe that’s the right math.
If ore sorting works anything like it does at Karatha (and it should IMO) holy $$hit start running those numbers…
https://youtu.be/ZIniljT5lJI?t=30
https://resource.globenewswire.com/Resource/Download/9c71fdb9-684e-472d-be01-879939b38166
Counting is fun again!
gc

More math…
107 grams divided by 95 cubic meters = 1.12 grams per cubic meter.
That’s a 60% increase from the 0.7 gpcm that other operations in the area were supposed to be recovering. QH knows how to catch every speck!
gc

My only concern is that damned 40 g nugget. Will there be that much large gold in the average 170 tonne bulk sample? Without that nugget we are back to around 0.7 gpcm. I guess we’ll have to wait for spring to get more data.

According to BM NVO has a 50,000 ton bulk sample permit for Egina. That means QH can take about 300 more 170 tonne bulk samples from across the permitted tenements. That should tell a story.

QH said he plans to come up with a NI 43-101 compliant resource estimate for Egina from the data collected next year.
Q said he plans to produce a resource estimate for Karatha as well. I’m thinking he may be able to use the data in the Karatha mineralization report as the basis for an NI 43-101 compliant resource estimate.

Also, Beatons Creek’s resource estimate will soon be upgraded to what sounds like 1,000,000 ounces +.

Before the end of 2019 NVO could have 3 working mining operations each with its own NI 43-101 compliant resource estimate.
gc

It's a low grade deposit, GC. Coarse gold will have this effect in any given volume of gravel. Where it's one, three, five, etc. larger nuggets. There is no getting around this coarse gold effect. The emphasis must be placed on lowering the extraction and mining costs. Novo must push these costs to bottom basement levels. That will derisk the fluctuation in grade and keep the economics positive. The challenge will be that. Tx