A Look At The Area Play Around Novo Resources
John Kaiser, Founder of Kaiser Research has been doing a lot of research on Australian exploration companies with a focus around Novo Resources’s Karratha Gold Project. In a relatively slow market Novo has been the shinning light. We discuss the recent news out of De Grey Mining showing more nuggets about 150km away.
Click download link to listen on this device: Download Show
Post from ceo.ca
@teevee @wannabeinvestor, @RocketRed, from Moriarty’s latest article ( http://www.321gold.com/editorials/moriarty/moriarty100317.html ): “Novo’s sampling program will consist of three parts. They will begin by drilling a fan of short PQ size core holes on fifty-meter centers. They are drilling core right now. At Purdy’s Reward there is about a 1.5 km strike of conglomerate that comes to surface that runs SW to NE. Novo plans on drilling down dip about four hundred meters farther into the basin.
The entire core program will therefore be 1500 meters by 400 meters. So a fan would be about 30 holes and there will be eight fans. They will only drill for structure. There are no plans for doing assays because we all agree that in a nuggety system core drilling will not reflect true grade.”
No assays? Is this a joke? Needless to say, the bottom of the drill holes will be checked with metal detectors for nuggests, however, I doubt that will be reported unless some nuggets are found….
Moriarty goes on to say: “It’s a placer deposit. We don’t know how the gold get there or where it came from: it’s a standard but very rich placer deposit. Where is the richest gold? Right! It’s at the very bottom of the gravel right on and in the bedrock.”
This comment, and the photo’s explain why $NVO is panel sampling and why the layer containing the paleo placer gold nuggets will be very thin, perhaps less than a foot thick. There can be no doubt that there is full disclosure, however, what happened to the “Wits 2.0” story? Clearly, there is some backing off from that story. It is not a matter of if, but when the market wakes up to the reality of this, there will be an equally dramatic reversal. #index
There have been holes before drilled through the conglomerate further South. Sampling 12 gram a ton. That would make it Massive.
John Kaiser calls it Wits 2.0 and Bob calls it a placer deposit. Which is it?
I going to share something with my readers that no one has ever mentioned that you really want to think about. Pretend for a moment that the lava never covered the sand and gravel and turned it into hard rock. Instead of this being a 5-20 meter thick hard rock conglomerate, it’s a simple 5-20 meter thick sand and gravel bed with gold nuggets in it.
It’s a placer deposit. We don’t know how the gold get there or where it came from: it’s a standard but very rich placer deposit.
Where is the richest gold?
Right! It’s at the very bottom of the gravel right on and in the bedrock.
The richest gold is not at the top of the sand and gravel unless you can think of some way of making gold nuggets float. Nobody’s mentioned that yet. The deep large diameter RC bulk samples taken from the lower parts of the conglomerate are going to be very very interesting.
As I said in my first piece on Novo in August of 2012, this is the big one. I got it then and I get it now. Fireworks will resume in 4-6 weeks and I believe will continue for the next fifty years.
Novo has been my biggest position since the company began in October of 2009. I think I paid $0.25 for my first shares. I could not possibly be more biased. Novo is an advertiser.
Please take some responsibility for your own decisions and do your own due diligence.
http://www.321gold.com/editorials/moriarty/moriarty100317.html