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Novo Resources update on Egina Gold Project

Mining News - Published on Fri, 21 Feb 2020

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Novo Resources Corp 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.

Highlights

Bulk sample 6A, a 413.6 cubic metre bulk sample collected at the Egina mining lease late last year, yielded 562.25 grams of natural coarse gold nuggets, 324.84 grams of which were recovered by metal detecting and 237.41 grams recovered when processed through the Company’s IGR3000 gravity gold plant

Bulk sample 6A comes from the higher grade swale within the study area. Although fine gold content is still being evaluated, the coarse gold yield appears to reconcile well with earlier small-scale bulk samples collected in the immediate vicinity of this location in 2019. Discussion of smaller bulk samples including those collected from lower grade margins of the swale is presented in Company news releases dated August 22, 2019, October 9, 2019 and December 3, 2019

A second bulk sample, 6B, measuring 763.2 cubic metres, was partially processed prior to the end of the 2019 field season and the balance will be processed as weather permits. Metal detecting yielded 210.9 grams of coarse gold from this sample

Novo’s geologic team has recently made a new terrace gold discovery, Road to Paradise, in an area approximately 11 km north-northeast of the Egina mining lease. Through regional study of surficial geology followed by target refinement using ground penetrating radar, a broad swale filled with shallow terrace gravels has been identified. Novo has confirmed the presence of coarse gold in an area of widely spaced test pits, an exciting development given this area has no known history of prospecting. This discovery, along with two made in late 2019, provides further indication the vast gravel terrace in this region has good potential to host coarse gold deposits. Novo is targeting discovery of five new areas of gold-bearing gravels similar to the test area in which much work was focused in 2019, with the intent to evaluate these through exploration as well as generate multiple areas for potential test-mining.

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.

Source :

Posted By : Rabi Wangkhem on Fri, 21 Feb 2020
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