Novo Resoruces Makes Another Gold Bearing Gravel Discovery

- February 13th, 2020

Novo Resources has recovered 562.25 grams of natural coarse gold from a large, 413.6 cubic metre, bulk sample at its Egina gold project in Australia.

Novo Resources (TSXV:NVO,OTCQX:NSRPF) announced that it has recovered 562.25 grams of natural coarse gold from a large, 413.6 cubic metre, bulk sample at its Egina gold project, Western Australia. In addition, recent exploration work has led to the discovery of new terrace gravels yielding coarse gold.

As quoted from the press release:

This year has brought two cyclones and unusually heavy monsoonal rains to the Egina area. Last week, cyclone Damien resulted in flooding across the region. Novo safely evacuated its team from the Station Peak Camp prior to the storm, and is now awaiting waters to recede before returning to site to recommence exploration.

“Recent large-scale bulk samples reconcile well with our much smaller bulk samples collected mid-2019,” commented Quinton Hennigh, President, Chairman, and a Director of Novo Resources. “This gives us confidence that our approach of assessing grades of gravels utilizing 4×16 metre bulk sample panels is indeed effective and appears suitable for estimating resources of this very coarse gold system, a critical step as we advance the project to trial extraction and processing.”

“In addition to positive reconciliation displayed by large scale bulk sampling, our exploration team has continued to make exciting new gold-bearing gravel discoveries,” continued Dr. Hennigh. “Late in 2019, our team set a goal of generating at least five new areas, each covering a substantial surface area, displaying similar coarse gold potential to our 2019 test area. With our third confirmed coarse gold area, Road to Paradise, we are well on our way to reaching this goal. This discovery is remarkable given it was made through our regional surficial geology study followed by target refinement using GPR. No gold was previously known in this area. We are confident we have a successful strategy to discovering new gold-bearing gravels.”

Click here to read the full announcement 


Your opinion matters!

Share your feedback for a chance to win a $100 gift card. Giveaway ends Sunday July 5, 2020.

Get the latest Gold Investing stock information

Leave a Reply