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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

Post by HuberPeteron Mar 24, 2021 8:41am
88 Views
Post# 32864965

Could be Eniga profitable??

Could be Eniga profitable??

Made some reasearch by reading the Eniga technical report.
 

Test Area 2019
The crucial assays are from the large bulk samples EGTPS6A and 6B. 6A probably directly from swale (wet rock and higher density); Trench6A is 52m and Trench6b is 86m. Trench 6B is probably the edge. The bulk samples were taken 4 m wide and approx. 2 m deep. In total, this results in an average head grade of 0.84 g / m³, converted to approx. 0.5 g / t. So far so good. recovery im swale 86% for test plant okay. Outside of the swales probably rather uninteresting. 59% recovery and headgrade weak.
 

Mak Samples 2020
It gets more exciting with the Mak Samples from this year in the north-west of the Mining License. These are much better than those from the test area 2019. A lot of pink (> 42 gold specs / t) and red points. In addition, the expansion seems to be much larger. This suggests significantly better results for the following Bulksamples.
 
The new Swales in Paradise also look promising.
 
Conclusion:
still very very early days. The chances are good that Egina could produce very economically by comparing the grade of the average alluvial gold producer. everything depends on scalability. Potential infinite.
 
Peter

 

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