In recent years metal detectors have discovered gold nuggets, sometimes in concentrated patches over an extensive area around the city of Karratha in Western Australia. Novo Resources now has interests in nearly 7600 square kilometers around this exciting new discovery. We jumped on it. I think that this one is pretty compelling but our goal is to try to demonstrate to the world that this is a very, very large discovery.
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.
The Company’s present focus is its Beatons Creek and Marble Bar paleoplacer gold projects in Western Australia. The Beatons Creek Tenements cover extensive exposures of the Beatons Creek conglomerates, a series of Archaean age pyritic conglomerates hosting gold mineralization similar to that of the Witwatersrand Basin in the Republic of South Africa. Shallow gold reefs were first identified and mined in this area beginning in the late 1800’s.
The Company has an experienced management team in place, which has extensive expertise in identifying properties that have the best potential to recommence and expand profitable mining from known and newly discovered mineral prospects.
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