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Novo Resources Corp.
Summary
| Project: | Karratha | |
|---|---|---|
| Deposit: | Karratha | |
| Location: | Australia | |
| Commodities: | Gold-Antimony | |
| Date: | 10/10/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-10-2018: Novo Resources Corp. announces an Exploration/Drilling Update report for its Karratha deposit at the Karratha project. Summary of Karratha project, exploration conducted, tenements and JV's. This Technical Report is a summary of work carried o | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Ian Glacken (Optiro Pty Ltd.) | |
| ABSTRACT: | This Technical Report is a summary of work carried out to 31 May 2018 on Novo Resources Corp.’s (Novo’s) Karratha Project. The Karratha Project refers to a number of tenements and joint venture, option, and sale and purchase arrangements south of Karratha in Western Australia. The Karratha Project is highly prospective for gold, with coarse gold nuggets having been located at a number of locations on the Novo and joint venture tenements. The gold appears to be located primarily in conglomerate horizons at the base of the Fortescue Formation, where it sits unconformably on the older Archaean basement. The effective date of this report is 31 May 2018. At this date Novo had carried out extensive nonmechanised surface sampling, mechanised trenching and bulk sampling and RC water bore, percussion and diamond drilling, high resolution aerial photography, multispectral satellite data commissioning, petrology and geochronology at its Purdy’s Reward and Comet Well project areas, but only metal detector supported prospecting had taken place at the other project areas. Novo has drilled 138 PQ (85mm) diamond drill core holes(69 at Comet Well and 69 at Purdy’s Reward) and 10 large diameter (15 – 17 inch) percussion holes (Purdy’s Reward), from which a total of 4,786 samples (1,653 PQ core and 294 Percussion samples from Purdy’s Reward, 2,839 PQ core samples from Comet Well) were collected. The percussion samples are not being used for quantitative gold determination. The diamond holes were drilled to test the stratigraphy and define the extent of key conglomerate horizons for incorporation into a 3-D geological model. Due to the coarse nature of the gold, drill hole core samples were not expected to provide representative gold assays. | |
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