Novo Resources (“Novo” or the “Company”) (TSX.V:NVO – OTCQX:NSRPF – ASX:NVO) released upgraded drill results from Nunyerry North, at the Egina Gold Camp in Australia. These results were re-analyzed using a larger sample method which resulted in a number of intercepts reporting higher grade gold results.
Mike Spreadborough, Executive Co-Chairman of Novo joins me to discuss why the larger sample method upgraded some of the results. I ask if this changes any of the exploration plans at Nunyerry North as the Company moves to the next round of drilling. Approximately 4,000 meters of drilling is planned across the full 2km strike staring mid-year.
We also discuss the maiden drill plans at Karratha, where approximately 3,500meters will be drilled at 3 prospects starting in Q2. I have Mike provide more information on the 3 prospects and what the Company is looking for in this first round of drilling.
With cash of A$17.4million and an investment portfolio of A$39.3million the Company is funded for all the programs we discussed.
If you have any follow up questions for Mike please email me at Fleck@kereport.com.