By Dr. Allen Alper, PhD Economic Geology and Petrology, Columbia University, NYC, USA
Novo Resources Corp. (TSX-V: NVO; OTCQX: NSRPF) is a Canadian gold exploration company, with a significant land package covering approximately 13,000 sq km, with varying ownership interests in the Pilbara region of Western Australia. We learned from Dr. Quinton Hennigh, Chairman and President of Novo Resources, that they have three main projects that host conglomerate gold. Their fully permitted and shovel ready Beatons Creek project has a resource of about 900,000 ounces indicated and inferred at the grade of about 2.5 g/t. Currently Novo is advancing their Karratha conglomerate gold project, through permitting, towards the production decision. Their third project, called Egina, is a joint venture with Sumitomo Corporation, and is fully financed. According to Dr. Hennigh, the high-grade Egina project can be fast tracked very quickly because the gold is free from rock matrix and therefore easily mineable and easily recoverable.
Read the full article HERE.