By Cory Novo Encounters Fine Gold in Trenching at Purdy’s Reward
Here is the latest news from Novo and the current trenching program. I think the market accepts that this is a nuggety gold deposit but the important underlying disseminated gold component could be the real economic take-home. We will still have to wait and see what the grades are of this fine gold but if it is more than 5 or 7 g/t it would further validate Quinton’s theory about the whole region. While the new release today is not game changing it is encouraging.
Click here to visit the Novo website for more information on the Company.
I will be chatting with the team over at Novo next week. If you have any questions please be sure to comment or email me directly at Fleck@kereport.com.
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VANCOUVER, British Columbia, Nov. 02, 2017 (GLOBE NEWSWIRE) — Novo Resources Corp. (“Novo” or the “Company”) (TSX-V:NVO) (OTCQX:NSRPF) is pleased to provide an update on exploration activities at the Purdy’s Reward tenement, a farm-in and joint venture Novo has with ASX-listed Artemis Resources Limited and part of Novo’s greater Karratha gold project, Western Australia. As core drilling has progressed to areas further down dip (please refer to the Company’s news release dated October 17, 2017 for further information), Novo has commenced a program of systematic trenching in areas of outcropping and sub cropping gold-bearing conglomerates. Novo has opened seven trenches with an eighth underway (please see Figure 1 below) and many more planned. Trenches are being dug with a 40-tonne excavator and range in depth from one to three meters. All trenches have encountered targeted conglomerate units with the exception of trench 5 which encountered older basement rocks.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/f8985958-c2cc-43a9-ae14-be035ddfe942
http://www.globenewswire.com/NewsRoom/AttachmentNg/3aee9cce-8d22-4032-a36e-7dff7ec32068
http://www.globenewswire.com/NewsRoom/AttachmentNg/5263740f-7b9f-4da6-b44f-d1b337961e4f
http://www.globenewswire.com/NewsRoom/AttachmentNg/c698bf94-21be-41d5-8522-b8ede94b7a57
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Upon opening, the geology of each trench is mapped and marked in preparation for sampling (please see Figure 2 below). Select walls and floors are swept with a metal detector, and strikes are marked with paint and geo-referenced with a differential GPS system. Sampling is generally conducted in areas that have not been swept with a metal detector so as to avoid sampling bias. Samples are collected in sealable steel drums. Novo has hired full-time, independent scrutineers to oversee all sampling activities and seal sample drums.
As observed in recent core holes, conglomerate horizons are interbedded with thin sandstone layers (please see Figure 3 below). Beds dip at shallow angles, generally less than five degrees, southeast. The lowermost conglomerate unit rests unconformably atop older basement rocks including gabbro, metabasalt and metasedimentary rocks. Up to eight discrete conglomerate beds are evident with some displaying characteristics …read more
Source:: The Korelin Economics Report
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