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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

Comment by WisGuy1on May 03, 2021 8:27pm
114 Views
Post# 33120721

RE:RE:@tradeahead

RE:RE:@tradeahead
@Tradeahead @Fabrix72. We can know the grade once we have a "reasonable" sampling size to assess it from. That would have to involve a representative set of samples from multiple areas of the property, and that just takes time to mine and put through the mill. -about your crescat video: He says around 52 "regular mineralization", and used the phrase "higher grade" at some point, after discussing the old very low grade tailings material from the run-in, simply underscoring my point. You will see in the video the other day, that he also talks of NVO having recently mined a larger plateau with a lower grade, progressing now to higher grade (in the upcoming time period). It is not news to anyone that grades will vary. Neither that labs are backed up, that is worldwide. The grade control drilling not yet available will soon give management the ability to analyze the mining process quantitatively, and plan the order in which various areas are to be mined, which will of course improve the average head grade substantially relatively to simply making a visual ad hoc determination as they are currently forced to do, for lack of better visibility.  2 about an hour ago
@Tradeahead @Fabrix72. The NR clearly states that the mill is not running at capacity. It is running at 1,5Mt per annum, and has been "test run" successfully at 2Mt per annum. Meaning that, in the future throughput will likely increase by 33%. 
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