Novo Resources (NVO) has identified new high-priority targets on the Mosquito Creek Basin located in Western Australia These targets potentially host more than 100,000 ounces of gold The first two targets identified are the Finucane and Sayshell prospects, which will see follow-up work this year Another new strategy for evaluation on the Nullagine District, which hosts the basin, has also begun Lastly, an aircore drilling program is currently being designed to test these newly defined targets and target extensions Novo Resources evaluates, acquires and explores natural resource properties with a focus on gold Novo Resources (NVO) is unchanged trading at $ 0.31 per share
Novo (NVO) has identified new high-priority targets on the Mosquito Creek Basin located in Western Australia.
The company continues to progress with its latest exploration strategy in the basin, which successfully identified these new priority targets.
According to the company, these targets potentially host more than 100,000 ounces of gold. The first two targets identified for this work are the Finucane and Sayshell prospects, which will see follow-up work this year.
Novo’s tenement map highlighting mineralized corridors delineated by arsenic in soils contours (Source: Novo Resources).
Additionally, another new strategy to evaluate the Nullagine District, which hosts the basin, has also begun. This strategy has added geophysics to extend gold mineralization trends, understand structural settings, and target new mineralization styles.
Also, high-resolution gravity data was collected from 5,127 station points in the district, which extended the coverage of an existing detailed gravity survey. This survey now covers the entire known position of the Middle Creek Fault, with extensions defined from the Finucane soil sampling program.
The gravity data will be used to identify additional drill targets for testing early in the field season. This study has already started to define new previously unknown targets and extensions to new mineralized structural trends.
Lastly, an air core drilling program is currently being designed to test these newly defined targets and target extensions.
Novo Resources evaluates, acquires and explores natural resource properties with a focus on gold.
Novo Resources (NVO) is unchanged trading at $ 0.31 per share as of 1:39 pm EST.
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Novo Resources (TSX:NVO) defines gold targets at Mosquito Creek Basin