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 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.

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Novo Resources Corp > Permitting Egina

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Comment by HuberPeteron Apr 25, 2021 2:03pm

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Post# 33063655

RE:RE:Permitting Egina

ahh; I got it.

peter

TXRogers wrote:

HuberPeter wrote:
Big scale alluvial mining is the business case at Egina. They have to dig up 2-3m without ni43-101. they close the pit instantly and replant it.

4km2 (current Mining license with 0,7 g/m3 and 1,5m depth will host only about 140k oz. If you want to have constant production you have to mine all the time.

My opinion is that they need about 1,5 g/m3 AVERAGE which would host about 7m oz for digging up 100km2. That's HUGE. 40% go to sumitomo.

current g/m3 in the swale is about 1,5/m3. But the the current 'high grade' swales are very thin.

sure; it's possible they will find a bigger swale with much higher grade. Otherwise it is going to hard to work.

Netherless:
Is it probable that they get a mining license for 100km2?

thanks for your assumptions.

peter

101 Dalmatians

Tx