News Articles for Novo Resources

Novo Resources' conglomerate gold-fed operation at Nullagine in WA continues to break new production records with the company pumping out more than 16.5 per cent more gold in June than in the previous month. Novo's Golden Eagle mill produced 5,898 ounces of fine gold for the period, with the company also posting revenue of $12.8 million.

Novo Resources has upped the ante at its Beatons Creek gold mine near Nullagine in WA's Pilbara region, with the Nullagine operation pushing out more than 5,000 ounces of gold in May. Interestingly, over 60 per cent of the gold recovered in the plant comes via the nuggets and coarse gold captured in the gravity circuit from the company's conglomerate ores.

Toronto-listed Novo Resources will step up its gold exploration activities in WA's Pilbara region and Victoria over the balance of 2021 after recently completing a C$26.4 million equity raising and pouring first gold from its flagship Pilbara project earlier this year. The company has laid out a $12m exploration budget to expand work at Malmsbury in Victoria and on its huge 14,000sq.km Pilbara landholding.

TSX-listed WA gold producer, Novo Resources has moved to speed up the process for receiving its gold assay results. The company has now secured a deal with Intertek Testing Services (Australia) Pty Ltd that will see the latter provide on-site laboratory and sample preparation services and PhotonAssay services. Intertek will manage an on-site laboratory at Novo's Golden Eagle gold processing plant near Nullagine in the East Pilbara.

TSX-listed Novo Resources has exercised its option to acquire 50 per cent of the Malmsbury gold project in central Victoria, where the company has drawn comparisons with no less a geological analogue than Kirkland Lake's 6.1 million-ounce Fosterville deposit 55 kilometres to the north. The deal with GBM Resources builds Novo's Australian portfolio outside of its operations in WA's Pilbara region.

Novo Resources' commissioning of its Beatons Creek conglomerate gold mine at Nullagine in WA's East Pilbara has been gathering a head of steam as the operation ramps up to steady state gold production over the coming months. The company says the Golden Eagle gold processing plant 10km south-east of Beatons Creek has produced a total of 7,375 ounces of gold since the first gold pour on February 16.

Novo Resources has tabled a “preliminary economic assessment” over its Beatons Creek conglomerate gold mine in WA. Figures from the study underline the profitability of leading-edge discovery, with the mine set to produce more than 100,000 ounces of gold per annum at a cash cost of US$702 per ounce, delivering an extremely healthy profit over a projected 6-year mine life.

Novo Resources is set to pocket another $5 million in cash as the sale of its Blue Spec mine draws to a close. The company has offloaded the high-grade mine in the Pilbara to aspiring gold miner Calidus Resources, who has recently commenced construction of its Warrawoona mine and will use the ores from the mothballed operation to boost its own developing production profile.

ASX-listed junior explorer, Kalamazoo Resources has consummated a deal with C$740 million market-capped Pilbara gold producer, Novo Resources. TSX-listed Novo will issue A$2 million worth of its stock to Kalamazoo to take on 50 per cent of Kalamazoo's Queens gold project in Victoria and Novo then has the right to move to 70 per cent by ploughing a further $5 million into the project.

Toronto Stock Exchange-listed Novo Resources has poured first gold from its Beatons Creek conglomerate gold mine at Nullagine in WA's East Pilbara region following a rapid-fire project development. The Vancouver-based C$615 market-capped company achieved the gold production milestone during the plant commissioning phase in less than six months after buying and refurbishing the nearby Golden Eagle mill.

TSXV-listed Novo Resources has made its final payment of A$3 million in cash and issued 1,198,395 shares to the vendor to wrap up its acquisition of the Comet Well project in the Karratha region of Western Australia. The Comet Well deal comes just as Novo starts to pull dirt from its Beatons Creek gold deposit that it is looking to treat at its newly refurbished Golden Eagle plant south-east of Nullagine.

Novo Resources is poised to join the growing ranks of WA's gold producers having received its final approvals from the state government for the commencement of operations at its Golden Eagle plant south-east of Nullagine. Mining has already commenced at the nearby Beatons Creek deposits and with the commissioning of the operation now underway, the company is preparing for its much-anticipated maiden gold pour.

Sure-footed East Pilbara gold developer, Calidus Resources has inked a farm-in deal to acquire up to 90 per cent of fresh ground, 20km east of its Blue Spec gold project, by spending up to $800k on exploration over six years. Calidus said the highly promising tenement is littered with soil geochemical anomalies and immediately east of a mineralised corridor identified by Novo Resources.

Novo Resources has received a further cash instalment totalling $5 million from fellow aspiring East Pilbara gold producer, Calidus Resources for the staged sale of the uber high-grade historic Blue Spec gold mine and surrounding leases. Calidus now has 25 per cent of the project and if it moves to 100 per cent, Novo will pick up a handy $19.5 million in total.

Calidus Resources has tied up the remaining 30 per cent interest in eight exploration tenements and three application areas surrounding its rapidly developing Warrawoona gold project in a deal with co-owner and fellow Pilbara gold developer, Novo Resources. The final consideration for Calidus to lock up 100 per cent-ownership of the ground was a one per cent net smelter royalty across the tenements payable to Novo upon production.

Novo Resources is set to join the big league, with the company having received approval to make the move to the main board of the Toronto Stock Exchange. The change signals a significant shift in the company's status as it continues to develop the Beatons Creek gold mine in Western Australia and prepares to join the ranks of the world's gold producers.

Vancouver-based Novo Resources has defied the weather gods to keep the refurbishment of its Golden Eagle gold processing facility on schedule and budget as the company closes in on first gold production from its developing Beatons Creek mine in WA's East Pilbara. The TSX-V-listed budding Pilbara gold producer is also set to graduate to a listing on the main Toronto Stock Exchange next year.

Novo Resources, in conjunction with Sumitomo Corporation of Tokyo, has completed its earn-in obligations acquiring a 70 per cent interest in the precious metal rights on Essential Minerals' Kangan project leases on the eastern side of the company's Egina gold project tenements, in WA's Pilbara gold region. Sumitomo joined Novo on Egina back in September 2018 via a $30m farm-in deal.

TSX-listed Novo Resources has identified multiple highly prospective oxide gold targets within its newly consolidated and 100 per cent-owned Nullagine Gold Project, stretching south and east of its developing Beatons Creek project in WA's emerging Northern Pilbara gold region. Several prospects are clustered into three separate trends which stretch across Novo's Millennium Minerals ground for up to 50km, east from Beatons Creek.

Novo Resources is well on the way to pouring first gold in the March 2021 quarter from its rapidly developing Beatons Creek gold project adjacent to the town of Nullagine in WA's East Pilbara. The company says the fast-tracked development of the Beatons Creek gold mine, including the refurbishment of the recently acquired Golden Eagle gold treatment plant, continues to progress on schedule and within budget.

TSX-V-listed aspiring Pilbara gold producer, Novo Resources, has unearthed a new gold-bearing conglomerate reef discovery at its developing Beatons Creek gold project adjacent to Nullagine in the East Pilbara following a mapping and surface rock chip sampling program. The Vancouver-based company says the Skyfall prospect is situated about 2km south-west of the existing 900,000-ounce Beatons Creek conglomerate-hosted gold resource.

Novo Resources has completed a battery of test work on the bulk samples from its Karratha gold project, successfully recovering fine nuggety gold from the conglomerate ores found at both the Purdy's Reward and Comet Well deposits. The recovery of this size fraction, via mechanical sorting, significantly enhances the potential economics of the operation and validates the process flow sheet being designed for the developing operation.

Novo Resources is full steam ahead as it hurtles towards gold production in WA's Pilbara region, with the company's latest update highlighting rapid progress in the refurbishment of its Golden Eagle mill and development across the emerging Beaton Creek mining area.

GR Engineering Services has secured new work with Canada's Novo Resources Corp for its Nullagine goldmine in the Pilbara.

Novo Resources could be on the verge of a substantial upgrade to its existing resource inventory after its development program across the Beatons Creek conglomerate gold deposits identified previously unrecognised extensions to the near-surface auriferous, sedimentary units. The host conglomerate units have been mapped and sampled over an additional 1,600m of strike, with initial assays averaging over 2.5 g/t gold and remain open along strike.

TSX-V listed Novo Resources has excised an additional option to take control of GBM Resources tenure on the Malmsbury goldfield in Victoria. The transaction builds on its initial ground position in the region acquired from Kalamazoo Resources last week with the company moving to control the entire highly prospective goldfield. Malmsbury lies 55km south of Kirkland Lake's world-class 6.1 million-ounce Fosterville gold mine.

TSX-V listed Novo Resources is set to join the lucrative hunt for gold in Victoria after putting an option in place with Kalamazoo Resources to earn an initial interest in the Queens gold project. The Queens project overlies the world-class Bendigo Tectonic Zone and is only 55km south of Kirkland Lake's well known 6.1 million-ounce Fosterville gold mine.

Calidus Resources has signed an agreement to buy a high-grade gold project for $19.5 million, which will use infrastructure from the company's proposed Warrawoona mine.

Novo Resources has taken another significant step as it charges towards production in the Pilbara, this week appointing two well credentialed mining men to oversee the company's transition from explorer to gold producer. The move follows hot on the heels of the company completing the acquisition of Millennium Minerals and its mothballed Golden Eagle mill at Nullagine in WA earlier this month.

Novo Resources has completed the acquisition of an existing mothballed mine in the Pilbara and cashed up the company by completing placements to the Sprott group and private entities. The transformational purchase delivers Millennium Minerals' old Golden Eagle gold plant at Nullagine to Novo who has a significant in-ground resource just down the road.

Novo Resources has pulled a rabbit out of a hat by snapping up Millennium Minerals and its Golden Eagle gold processing plant at Nullagine in WA. The bold move sets the stage for the company to become Australia's first conglomerate gold producer.

As Novo Resources ramps up to a full 2020 exploration program capacity, the company has continued to produce impressive results showing ‘proof-of-concept' that its Egina Terrace in the Pilbara is host to an extensive shallow gold-bearing gravel deposit. Bulk samples from broad areas across the Egina mining lease have yielded gold particle counts exceeding 48 particles per tonne from consecutive sample pits.

Novo Resources has taken yet another step towards commercial gold production, revealing that it is in advanced discussions with process equipment supplier Steinert Australia to acquire a mechanical ore sorting unit to field test its conglomerate-gold ores in the Pilbara. The unit will be manufactured in Germany and is expected to be deployed into the Pilbara in the latter half of the 2020 field season.

Novo Resources has taken out some of Mark Creasy's land holdings and JV interests in the Pilbara as Novo continues with its aggregation grand plan around its flagship Pilbara conglomerate and alluvial gold fairway. The deal will see Novo pick up another 2,900 square kilometres of ground adjacent to its Beatons Creek and Egina targets, where new alluvial channel gold finds have been made.

Novo Resources continues to add to its stable of thoroughbred gold projects in the Pilbara, this week entering into an option agreement with local privateers to acquire the Bellary Dome project. The tenure shows marked similarities to the company's existing conglomerate-gold targets in the area, with the acquisition being the second in as many weeks as the company eyes a production hub in the region.

Pilbara conglomerate gold pioneer, TSX-listed Novo Resources, has consolidated its position in WA's East Pilbara after acquiring three new leases covering 19 square kilometres along trend with its Beatons Creek project, 75 km north east of Nullagine. The vendors will receive A$100,000 in cash and 324,506 Novo shares for the exploration areas known as the Mt Elsie project.

On the back of a recent find at its Paradise alluvial gold prospect in the Pilbara, TSX-listed conglomerate gold pioneer, Novo Resources, has uncovered a new, fresh, shallow, alluvial gold-bearing channel at its Egina project in WA's northwest. Novo said the new channel that ties in well with its gold-bearing gravel terrace geological model has a width of 350m and a gravel thickness of 0.5-2.0m.

TSX-listed Novo Resources has uncovered a third, broad, shallow, alluvial gold-bearing channel at its Paradise project in the Pilbara after returning to the field recently. Novo also said assays of alluvial gravels from its nearby Egina mining lease returned a solid 0.84 grams gold per cubic metre from bulk samples that are proving better than traditional drilling in sizing up its conglomerate gold opportunity.

Novo Resources has unearthed an impressive total of three new broad areas of gold-bearing alluvial gravel swales, or shallow channels, at its flagship Egina conglomerate gold project in the Pilbara. The Paradise area, which is host to two of the newly discovered gold-bearing areas, is about 14 kilometres north-northeast of Novo's Egina mining lease. Another new discovery, known as Clarke, is just 10 kilometres northwest of Egina.

Novo Resources continues to demonstrate the developing potential of its Pilbara conglomerate gold hosted Egina and Beatons Creek deposits with ongoing high-tech mechanical test work squeezing out more and more fine gold from the ancient rocks. A small sub-sample of Egina concentrate was “seeded” to determine the effectiveness the German-based TOMRA mechanical ore sorting testing equipment and the company said that 120 out of 120 of the seeded nuggets were recovered.