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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
Comment by goldhunter11on Jan 17, 2020 5:29pm
159 Views
Post# 30567122

RE:QH on kereport

RE:QH on kereport

Wisguy,
Thanks for the link. Just listened to the audio. Here are some take-away points:
- KZR stake: A bit of history of Quinton involvement with Forsterville when ES brought him in to look at at the mine and to provide advice on where to find the high grades. Found similarity between  KZR results (Castlemaine) and Forsterville, similar geological structures. Veins are not wide but they are full of gold in pockets. He told Eric and the two got together to aqcuire 10Ms (8.2%) each...plus wts at 0.80 during an 18 month period. Results: Some 221 gpt over 1.42m, with short intercept at nearly 2000gpt/0.17m.
- New results expected soon (few weeks/months?). Fine gold is usually not coming from static system? Does this mean fine gold was created by a dynamic (explosion and all which would create pocket full of gold? (I am guessing)
- Focus is still on the current conglomerate projects.
- Sorting trials, initially with Steiner machine, and later with Tomra. Signicant upgrades.
- Beatons Creek: There is a mill (Millenium) nearby, 12km away, that they can use to process Beatons Creek ore. That would be the shortest path to get Beatons Creek into production. Note: Sumitomo has set aside a sizable chunk of money for NVO with the initial $30M for Egina and a similar amount for Beatons? Negotiation is on a friendly basis, whatever that means.

Since Millennium Minerals is in some kind of financial trouble, it would not be a surprise to see a deal between NVO and MOY, including a merger between the two. Millennium spent $100M to build the mill, and spent all the cash with a 200,000 m drill program but did not produce enough ore to feed the mill, according Bob Moriarty. Link below

https://www.streetwisereports.com/article/2017/02/28/millennium-minerals-an-accident-waiting-to-happen.html
GH11
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