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Tuesday, March 20, 2018 Derek Macpherson

Novo’s +5-tonne Samples Expected in ~1 Month

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Novo Resources Corp. (TSXV:NVO) has provided an update on its exploration activities at Comet Well, which includes the expected announcement of +5-tonne bulk sample results in ~1 month. The samples were taken from the few meters of basal bouldery conglomerate that has been identified to be unique to the Powerline showing (Figure 1). It must be noted that Powerline differs from Purdy’s Reward in that detector strikes have been noted in multiple horizons above the basal contact whereas most gold nuggets at Purdy’s Reward were found at the base of the conglomerate sequence. As well, the company discovered an additional gold-bearing conglomerate at Powerline, which was exposed 20m up section from the basal bouldery unit. The thickness of the conglomerate is currently unknown, but several gold nuggets encased in a rock matrix have been recovered. We hope to learn more about these recent developments when we visit the project later this week. Novo plans to continue trenching and bulk sampling along the 2km of strike at Comet Well with plans to collect a total of 60 +5-tonne bulk samples. Since mid-February, Novo field teams have also drilled 39 vertical scout diamond drill holes on a ~200m grid at Comet Well with more tightly spaced holes in areas where trenching is expected to occur in order to better understand subsurface geology before bulk sampling takes place. With trenching, bulk sampling and scout diamond drilling underway, Novo is well on its way in unlocking the value of Comet Well and communicating it to investors. Importantly, this week we will be on site at Karratha and Beatons Creek, after which we plan to provide an update on our findings.  read more

Wednesday, March 14, 2018 Derek Macpherson


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In this edition of RCKS Charts, Keith has evaluated Bunker Hill Mining Corp. (CSE:BNKR), Otis Gold Corp. (TSXV:OOO), Aston Bay Holdings Ltd. (TSXV:BAY), Novo Resources Corp. (TSXV:NVO) and Mawson Resources Ltd. (TSX:MAW). More names are recovering from the recent market pressure. That pressure may not be completely resolved yet, but positive signs are surfacing offering leadership to the many names on our ‘watch list.’ Below are three names showing positive signs of recovery and updates on two previously highlighted names which continue to act well.  read more

Tuesday, March 13, 2018 Derek Macpherson

Novo’s Warrant Exercise Covers Costs; Site Visit Next Week

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Novo Resources Corp. (TSXV:NVO) raised C$3,338,701 after the full exercise of 3,927,884 share purchase warrants from the company’s private placement which closed on March 8, 2016, resulting in a cash balance of C$69.5 million. Each warrant was priced at C$0.85 per share for a 24 month period. During the most recent fiscal year ended January 31, 2018, the company was able to raise C$15.8 million from the exercise of warrants, which has more than covered the C$14 million expenditures on its mineral properties from the same period. Novo remains well-funded to continue exploration in Karratha as the company continues to refine its exploration approach. Importantly, next week we will be on site at Karratha and Beatons Creek, after which we plan to provide an update on our findings. read more

Thursday, March 08, 2018 Derek Macpherson

Novo Refines Exploration Approach for Karratha

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Yesterday, Red Cloud Klondike Strike Inc. hosted an update lunch with Novo Resources Corp. (TSXV:NVO). President, Director and Chairman, Dr. Quinton Hennigh recalled past and ongoing exploration efforts which has led the company to refine its knowledge on how to most suitably explore its Karratha gold project. Although questions remain unanswered, over the next 6 months Novo is focused on determining whether resource estimation is possible with data collected, a difficult task given the project’s nuggety nature. In addition, the company touched on plans for Beatons Creek in 2018, which has become less of a priority with success at Karratha. We continue to believe upcoming newsflow is an important catalyst for Novo as the company aggressively works to demonstrates Karratha’s potential. read more

Thursday, March 08, 2018 Derek Macpherson


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In this edition of RCKS Charts, Keith has evaluated Mawson Resources Ltd. (TSX:MAW), Novo Resources Corp. (TSXV:NVO) and Aurania Resources Ltd. (TSXV:ARU).  read more

Thursday, February 22, 2018 Derek Macpherson


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In this edition of RCKS Charts, Keith has evaluated Novo Resources Corp. (TSXV:NVO), GT Gold Corp. (TSXV:GTT), Mawson Resources Ltd. (TSX:MAW) and Monarques Gold Corp. (TSXV:MQR).  read more

Wednesday, February 14, 2018 Derek Macpherson

NVO Releases Results from Purdy’s; Starts Work at Comet Well

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Novo Resources Corp. (TSXV:NVO) has announced the start of the 2018 exploration program at its Karratha gold project and initiated drilling and trenching at Comet Well. Recent 300kg bulk samples from Purdy’s provide greater insight into grade distribution and indicate the penetration of gold nuggets into the dolerite footwall (Figure 1). Initial trenching and drilling at Comet Well indicate 30-35m of conglomerate thickness with metal detectors suggesting gold nuggets occur in multiple horizons above the basal contact, compared to Purdy’s where most nuggets occur at the base of the conglomerate sequence. Upcoming catalysts include the gold grade of the company’s first bulk sample above the minimum sample size of 5 or more tonnes, which is expected to be the first sample to go through the company’s new plant and to be released shortly.  read more

Tuesday, February 06, 2018 Derek Macpherson

Novo Moving to 5 tonne Bulk Samples; Secures Test Plant

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Novo Resources Corp. (TSXV:NVO) has secured a test plant for processing 5 tonne bulk samples from its Karratha Gold Project. The company has determined due to the nuggety nature of mineralization, a larger sample size is necessary to provide a better understanding of grade. Samples to date have been around ~300kg. The newly secured test plant is expected to process 3 samples per week, with a 4 week turnaround, faster compared to the current 8 week turnaround for smaller samples. We view this positively for investors, as Novo should be able to get bulk sample results to market in a timelier manner; however it does not alter our fundamental view of the company. We also highlight that while the larger size should provide better information on the gold distribution of this unique deposit, the company is still working to determine the ideal sample size and even larger samples may be required to produce data of sufficient quality and accuracy to generate a resource. We note that the pending sample results are of the ~300kg size. Upcoming sample results should be an important catalyst for the stock as the company continues to determine the appropriate course of action regarding exploration methods. We continue to believe the recent pullback following Novo’s exploration update in late December has created an opportunity for investors. read more


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