- Novo Resources (TSXV:NVO) has revealed sampling results from its Egina mining lease in the Pilbara region of Western Australia
- The company used MAK testing to determine loose gold grains contained within the property
- The company has determined the property host significant expanses of gold bearing gravels
- MAK testing is done by the crushing and chemical processing of a large section of gravels, up to a tonne at a time, until only the gold grains are left
- Novo resources (NVO) is up five per cent and is trading at C$4.11 per share
Novo Resources (TSXV:NVO) has revealed sampling results from its Egina mining lease in the Pilbara region of Western Australia.
The Egina mining lease covers roughly five square kilometres of the nearly 2,500 square kilometres the company owns in the larger Gravel Terraces project.
Gravel terraces are deposits of gold in loose, granular types of mineralization and are mined using excavators gathering large quantities of material and crushing that material down until only then tough gold particles are left.
The company has been conducting mobile alluvial Knudson (MAK) sampling work on the project, to determine the levels of mineralization hosted within these gravel terraces.
Novo has thus far collected 342 MAK samples by exacting approximately a tonne of grab samples from shallow pits before crushing and processing.
The company has determined significant expanses of gold bearing gravels are located in the north western hills of the property, where gold will collect into the rivets within the landscape.
The company plans to complete at least 1,100 samples this year, has already secured a mining permit for the property.
President and Chairman of Novo Resources, Dr Quinton Hennigh said the company was seeing expansive areas within the project.
“Setting aside the area of low hills in the west central region of the mining lease, where we cannot conduct sampling, it appears that perhaps around 30 per cent of the terrace displays MAK gold point counts in line the 2019 test swale.
“This data gives us our first real impression of how gold may be distributed within this system, and web are very encouraged, especially given the cast size of this target,” he said.
Novo Resources (NVO) is up five per cent and is trading at C$4.11 per share at 1:30 pm EDT.