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Novo Resources continued drilling and fieldwork has identified the Upper Conglomerate over 2.5km, which supports our view that a large gold deposit is
possible at Purdy’s Reward and Comet Well. Key highlights from this release include:
International Prospect Ventures has entered into a non-binding letter of intent to acquire a 0.5% net smelter royalty (NSR) on Novo Resources Corp. (TSXV:NVO)
Comet Well Property, located in the Pilbara region of Western Australia.
The recent conference call with Novo Resources management has supported our views that it is still early days and that company continues to progress towards identifying a very large gold system at Karratha. We have summarized our takeaways from the call below and provided a link to the audio below. Our key takeaways were:
Novo Resources announced the first complete assays from its large (>5t) bulk sampling program at Comet Well, which includes 10.4g/t Au in bulk sample KX157. We expect there is likely to be a steady stream of bulk sample results to follow.
In this edition of RCKS Charts, Keith has evaluated Toachi Mining Inc. (TSXV:TIM), Avidian Gold Corp. (TSXV:AVG), Aurania Resources Ltd. (TSXV:ARU), Novo Resources Corp. (TSXV:NVO), Golden Arrow Resources Corp. (TSXV:GRG) and NxGold Ltd. (TSXV:NXN).
Kirkland Lake Gold (TSX:KL) announces its third investment in Novo Resources Corp. (TSXV:NVO) by acquiring 4 million shares from Artemis Resources (ASX: ARV) at C$5.00/sh to bring the company’s total investment to 29.83 million common shares of Novo at an average price of C$3.18/sh.
Novo Resources announced preliminary results from its larger bulk sample program at Comet Well, and while the market appears to have expected grade, a rough estimation of grade and location of the sample are very encouraging in our view.
We updated the look & feel of our RCKS Talk Research Blog in March 2018.
To access the historical archives of our original blog format, please click on the link(s) below to be re-directed. Please note that we no longer update those archive blog pages.
Click here to access the RCKS Talk Blog Archive for Novo Resources Corp. (TSXV:NVO)
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