Novo Resources with a major discovery in Western Australia. Background in Northwest Australia is starting to demonstrate the potential to have a significant gold discovery on it. Our visit to site and the preliminary results that we’re seeing from Novo suggests that significant discovery is very possible. probably get first assays from that work in the early 2018.
Novo’s focus is to evaluate, acquire and explore gold properties. Novo owns the approximately 10 square kilometer Beatons Creek Tenements in Western Australia and has the right to earn a 70% interest in the approximately 1,800 square kilometer Pilbara Paleoplacer Gold Project (includes the Beatons Creek and Marble Bar paleoplacer gold projects) in Western Australia from the Creasy Group.
Novo has recently acquired, through staking, a 100% interest in approximately 6,021 square km of mineral rights in the Karratha region. Aggressive staking was undertaken following the discovery of a new occurrence of conglomerate-hosted gold mineralization at Comet Well and nearby Purdy’s Reward approximately 45 km south of Karratha. On April 11, 2017, Novo announced the acquisition of an interest in the approximately 48 square km Comet Well property where local prospectors has recently been very active recovering gold from soil using metal detectors. On May 26, 2017, Novo announced a Farm-In/Joint Venture agreement with Artemis Resources Ltd, an ASX-listed exploration and development company, covering an additional 1,536 square km of prospective ground in the same region. Combined, Novo now has interests encompassing approximately 7,600 square km around this exciting new discovery.
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