News Articles for Novo Resources

Novo Resources is continuing to execute on its strategy of picking up nuggety gold projects and has increased its presence in the goldfields of Victoria, famed for its long and rich mining history. Novo has entered into a deal that could see it land up to 75% of GBM Resources' Malmsbury gold project and just over 4% of the ASX-listed company.

TSX-listed conglomerate gold explorer, Novo Resources, has inked an important heritage agreement with the Yindjibarndi Aboriginal Corporation that covers a total of 1,492 square kilometres of country across a substantial portion of the company's Pilbara gold exploration play. The agreement facilitates and potentially expedites the process of exploration.

Novo Resources has finalised the acquisition of its remaining joint venture interests from Artemis Resources in its Purdy's Reward and 47K gold leases south of Karratha in WA's Pilbara. Novo issued 1,640,000 shares to Artemis and paid out A$820,000 in cash consideration for the remaining interests in the leases. Sorrento Resources, Artemis' JV partner has also been paid A$180,000 and issued with 360,000 Novo shares.

Novo Resources has acquired the joint venture interests of Artemis Resources to take control of 100 per cent of the Purdy's Reward and 47K gold leases south of Karratha in WA's East Pilbara. The two leases are located near the eastern end of Novo's extensive North Pilbara conglomerate gold fairway and adjacent to Novo's Comet well JV where it owns 80 per cent of the mineral rights.

TSX-listed, Pilbara-focused gold player, Novo Resources, has acquired 15.97 per cent of Canadian explorer, New Found Gold Corp via a scrip-for-scrip deal that gives Novo access to New Found's stellar gold prospect on the east coast of Canada. A recent drill intercept at New Found's Queensway project returned 19m at 3 ounces to the tonne from 98m with 6m at a staggering 9oz/tonne gold.

Novo Resources has achieved some outstanding gold recovery rates on the latest set of mechanical ore sorting tests for multi-tonne bulk samples of crushed ore from its Egina and Beatons Creek gold deposits in the Pilbara. Tests done at laboratories in Sydney and Germany have recovered between 92 and 100 per cent of gold in three size fractions from the Egina sample and the Beatons Creek fractions returned between 82 and 94 per cent of the gold.

Novo Resources looks to be onto a new alluvial goldfield in the Pilbara after it unearthed some golden paydirt from a terrace at the “Road to Paradise” prospect, just 11km from its flagship Egina gold project. The company has also analysed a bulk gravel sample at Egina, that yielded 562.25 grams from about 414 cubic metres. Novo is one of the modern pioneers of the Pilbara alluvial gold scene, treading over new ground each exploration phase with outcomes that are wildly unknown but potentially lucrative.

Novo Resources is upbeat about the latest mechanical ore sorting test results at its Beaton's Creek conglomerate gold project in WA's Pilbara region. The crushing and screening tests on one bulk sample have delivered a calculated head grade of 5.72 grams per tonne gold, according to the company. Three size fractions were tested and an impressive 90.2% of gold was recovered in 54.5% of the mass of the +18/-50mm fraction.

Novo Resources has picked up 10 million shares in ASX listed Kalamazoo Resources at $0.40 cents per share. Novo Director, Eric Sprott, has also personally taken up 10 million shares in the placement that raised a total of $8 million for Kalamazoo. Novo now holds a strategic 8.17% stake in the Victorian explorer. Kalamazoo recently tabled an exceptional grade result from its Castlemaine prospect of 1.42m @ 261.3g/t gold.

Junior gold miner Kalamazoo Resources has announced an $8 million placement to billionaire investor Eric Sprott and his Canada-listed company, Novo Resources Corporation.

Novo Resources is rapidly getting the full picture of its nuggety conglomerate Pilbara gold deposit after tabling some positive results that will assist the TSX-listed company to squeeze every last skerrick of gold from the ground. The company has identified new areas of gold-bearing terraces at the South Egina and Paradise targets and it is rapidly gaining an understanding of the nuggety gold distribution in the conglomerate-hosted ores.

TSX listed Novo Resources is deciding what processing route to use for its Beatons Creek and Egina “nuggety” gold projects in WA's East Pilbara by subjecting 10 tonnes of their combined ores to mechanical ore sorting. Around 5t of Beatons Creek's and another 5t of Egina's gravels have been shipped to a test facility in Perth, where they will be put through sorting trials during December.

Ore sorting could be the panacea for nuggety conglomerate gold projects that are notoriously hard to develop after Novo Resources reported very positive gold recovery numbers from its Egina conglomerate gold project in the Pilbara. Novo is rapidly gaining credibility as a conglomerate specialist as it looks to add this new ore sorting technology to its suite of tools to effectively process its various styles of conglomerate mineralisation.

Novo Resources has unearthed a swag of gold nuggets from bulk sampling at its emerging Egina project located in the Pilbara region of WA. The company said that recoveries exceeded 1 gram of gold per cubic metre of lag gravels sampled and that it is investigating the use of low-cost extraction and processing of the coarse gold, using “dry” methods including continuous miners and mechanical ore sorters.

Novo Resources has completed successful gold processing trials using innovative ore sorting technology at its emerging Egina gold project near Port Hedland in the Pilbara region of WA. The company used a combination of physical and mechanical dry ore sorting and processing techniques to separate coarse gold nuggets from waste materials in test work completed in Germany.

Novo Resources is building up excitement at its Egina project in the Pilbara, WA, after a bulk sampling program of surface gravels recovered significant quantities of gold nuggets at grades well above typical alluvial gold deposits. The company said the gold is coarse enough to extract without using water and is evaluating whether the ores could be extracted using simple and cheap mining methods like continuous mining.

TSX-listed conglomerate gold explorer, Novo Resources, has unearthed an Aladdin's cave of gold nuggets in a single pathfinder trench at its exciting Egina gold project, near Port Hedland in WA's Pilbara region. 162 gold nuggets weighing 324 grams were plucked from the trench in the first pass with most of them recovered from a swale in the underlying basement rock near the northern end.

Novo Resources is vectoring towards a prospective region located southeast of historical workings and trenches at its Egina gold project near Port Hedland, WA, after delineating a 600m wide region of gravel that contains plentiful gold nuggets. The company identified the patch during a ground-penetrating radar survey in May, which outlined a valley floor containing the sought-after gold-bearing gravel horizons.

Novo Resources has extended its tenement holdings in WA's Pilbara region, with a binding letter of intent to secure surface gold rights over an additional 1,100 square kilometres of ground adjacent to its Egina gold project near Port Hedland. The deal is a strategic add-on for the company, which last month entered into a USD$30m farm-in and JV agreement with the Sumitomo Corporation to explore and develop Egina.

Novo Resources has entered into a $43m farm-in and JV agreement with diversified Japanese trading company Sumitomo Corporation to accelerate development of its Egina gold project located near Port Hedland, WA. Sumitomo can earn up to 40% in the project by spending the monies over three years, with minimum expenditure of about $7m per phase of work defined by programs and budgets developed by Novo.

Novo Resources has compiled a mineralisation report for its Karratha gold project in the Pilbara region of WA and outlined future work programs that include comprehensive, bulk sampling of up to 100,000 tonnes across the region. The company will undertake innovative mechanical ore sorting and scanning techniques on the samples addressing the unique, coarse nuggety gold distribution of the Karratha deposits to more accurately predict gold grades.

Novo Resources has installed a new exploration camp and has awarded an earthmoving contract for its upcoming bulk sampling and processing activities at the emerging Egina gold project located near Port Hedland, WA. The company recently undertook ground surveys and field investigations that outlined potential conglomerate-hosted and alluvial gold sites suitable for the bulk sampling operations.

Novo Resources is a step closer to mine production from its Pilbara gold assets in WA this week, with a key mining lease now granted for its emerging Beatons Creek project near Nullagine, WA. The rigorous tenement approval process was underpinned by the company's impressive mineral resource estimate of just over 900,000 ounces, with 316,000 ounces sitting in the oxide zone, which Novo will attack first.

Novo Resources has kicked off its field exploration programs for the Egina and Karratha gold projects in the West Pilbara, WA. The company is planning to complete bulk sampling programs on defined and targeted gold-bearing gravel terraces in the Egina district, whilst regional exploration activities are underway at Karratha to evaluate conglomerate-hosted gold mineralisation between the Comet Well and the Purdy's Reward projects.

Novo Resources has appointed two Perth-based technical consultants to examine development options for its East Pilbara gold assets, including the 900,000 ounce Beatons Creek conglomerate project near Nullagine in WA. The company has several prospective gold projects outside of Beatons Creek, including the Blue Spec gold-antimony deposit to the east and the under-explored Talga Talga deposit, located 35km north of Calidus Resources' 1.25 million ounce Warrawoona gold project.

Canadian conglomerate gold specialist Novo Resources has increased minerals resources at its Beatons Creek gold project near Nullagine in the East Pilbara region of WA by 30% to 10.94 million tonnes grading 2.57g/t gold for 903,000 ounces. 85% of the company's oxide resources that total 316,000 gold ounces are within the high-confidence indicated category subset, from which future ore reserves can be derived.

Canadian conglomerate gold specialist Novo Resources has reported encouraging and consistent gold grades averaging 2.55g/t from a regional, bulk sampling program at its Beatons Creek gold project near Nullagine in WA. The current mineral resource sits at 8.38 million tonnes grading 2.47g/t gold for 667,000 ounces and will be updated this quarter using the bulk sampling results and a new 3D geological interpretation.

Pilbara conglomerate gold theorist, Novo Resources, has generated encouraging gold recoveries of up to nearly 90% from ore sorting trials at its Comet Well project located near Karratha in WA. The trials produced ore grades up to 792.4g/t in sorted gold concentrates and additional work will now be undertaken at smaller crush sizes and on oxidised ore samples to optimise gold recoveries even further.

Conglomerate gold developer Novo Resources has extended and expanded its non-binding 2017 MoU with Japanese heavyweight Sumitomo Corporation, to help develop its significant suite of Australian gold projects dotted throughout the Pilbara region of WA. Sumitomo has agreed to provide personnel and up to 5 billion Yen – about AUD$64.4m – to evaluate, advance and develop Novo's vast tenement holdings into economic gold mining operations.

Pilbara conglomerate gold theorist Novo Resources has generated rich concentrates from ore sorting trials at its Comet Well project near Karratha, producing ore grades up to 792.4g/t gold. The company also separated coarse gold nuggets from gravelly ore horizons at its Egina project near Port Hedland using gravity techniques and it has suggested that the procedure could be ramped up to a larger scale in the future.

Conglomerate gold developer Novo Resources continues to progress exploration and resource development activity for its large tenement holdings in WA's Pilbara region. At the Egina project, bulk samples of gold-bearing gravels are being processed through the company's gravity gold plant on-site, whilst progress on other work programs was reported for the Karratha, Beatons Creek and Talga Talga gold projects.

Ore sorting could be the panacea for conglomerate gold projects that are notoriously hard to drill after Novo Resources reported positive results from trials on bulk samples from its Comet Well conglomerate gold project near Karratha. The company said that ore sorting rejected up to 99.7% of the waste materials, with visual and X-ray examination of the ore concentrates showing gold nuggets, providing encouraging feedback from the trials.

Conglomerate gold developer Novo Resources has outlined an aggressive exploration program for its emerging Egina gold project, located near Port Hedland in the Pilbara region of WA. Over the coming months the company plans to undertake systematic bulk sampling of gold-bearing lag gravels at the project. The company will also complete ground surveying, trench mapping, regional geological mapping and conduct wide-spaced alluvial soil sampling for fine gold occurrences.

Canadian listed gold developer Novo Resources has confirmed the gold potential of two basal conglomerate units defined at its Comet Well JV project near Karratha in WA, with maiden bulk sample assay results outlining grades up to 10.4g/t gold and gravity recoveries of up to 99.6%. The company will now use the bulk sample assays and recent diamond drilling data from Comet Well, to produce a mineralisation report.

Canadian listed conglomerate gold specialist Novo Resources has revealed a significant increase in mineral resources at its Beatons Creek gold project near Nullagine in WA. The resource now sits at 8.38 million tonnes grading 2.47 grams per tonne gold for 667,000 ounces. The company also said that its highly anticipated assays from bulk sampling of gold-bearing conglomerates at the Comet Well project near Karratha are due in October.

Canadian listed conglomerate gold specialist Novo Resources has completed an $8m acquisition of a prospective looking gold project in the Egina region, located south of Port Hedland in the Pilbara region of Western Australia. The company believes the tenements are prospective for conglomerate, alluvial and shear-hosted gold mineralisation. The transaction comes gift-wrapped with two granted mining licences surrounding the historical Womerina alluvial gold workings.

Celebrated conglomerate gold specialist Novo Resources will acquire two strategic gold projects 80km south of Port Hedland. The company will fund exploration for two years to farm into Pioneer Resources' Kangan gold project to earn a 70% interest for a consideration of $600,000 in cash and scrip. Novo will also acquire 4 key tenements from a private company in the area for cash and shares totalling A$8m.

Melbourne-based shell company Public Holdings (Australia) is set to move into gold exploration after striking a deal to acquire a group of Western Australian gold tenements from prospector Denis O'Meara, while also announcing plans for a $7.5 million capital raising.

Canada's Kirkland Lake Gold, which is a major backer of TSX-listed Novo Resources Corporation - the company at the centre of a mini gold rush in the Pilbara - has thrown its weight behind Perth-based explorer De Grey Mining, which is one of several local explorers active in the same area.