3 Key Gold Projects & 1 Exploration Project in Australia
Novo Resources is focusing on their key gold projects in Western Australia
Novo Resources’ main focus is to explore and develop gold projects in the Pilbara region of Western Australia.
“What brought us to this region is the striking similarity with the deposits of South Africa in the Witwatersrand.” says CEO Rob Humphryson. These similarities are the timing of formation and the fact that all of the deposits in both are conglomerate.
Currently, Novo has four key projects. They have their original project Beatons Creek, Comet Well, also known as the Karratha Project, Egina and their vast Greenfields exploration project.
Beatons Creek was their foundation project and over the years they’ve developed a resource of 900,000 ounces at around 2 grams per tonne.
Above all, the project is now fully permitted enabling the company to mine. They are currently undertaking an option study. In fact, they have support from Sumitomo Corporation with a pre-approved five billion yen or sixty five million dollars.
“Beaten Creek is our most advanced project. We’ve done all the work in fermenting that’s required to advance it towards development and hopefully ultimately to production.” says Chairman & President Dr. Quinton Hennigh.
Secondly, Novo has been exploring Karratha for about 18 months through bulk sampling and diamond drilling.
Just like Beaton, Karratha is a conglomerate hosted gold deposit. Moreover, it’s nearly four or five hundred kilometres from Beatons Creek.
“We’re advancing it similar to the fashion that we did Beatons Creek. It’s going to take book sampling, trial, mining, things like this over time to advance. But we see a trajectory to move it forward.” says Hennigh.
This is the company’s third major project. Novo Resources acquired the Egina Gold Project in 2018.
Novo plans on taking a series of 100 tonne samples on roughly 100 by 100 metre grid. They’ll be processing these samples onsite through their gold processing plant.
“We think the potential here is tremendous. This is just really the first leg of a much, much longer exploration journey here at Egina. We’re very excited about this project.” says Hennigh.
In addition to their three main projects, Novo is actively conducting greenfield exploration across their 13,000 square kilometers of tenure across the Pilbara.
“It’s rare for potentially an entirely new goldfield to be dominated by one junior company.” says Humphryson.
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