Novo Resources’ Nullagine gold task reaches report month-to-month production

Mill throughput continued to raise at Nullagine on a month-on-month basis. As expected, the processing plant’s annualized rate is raising to 1.8 mtpa.

A total of 148 kt of gold-bearing conglomerate content was processed in July. Recovery rates are also stabilizing all around 95%. July’s processing head quality was 1.94 g/t Au.

Exploration is effective at the Nullagine project also accelerated during the previous two months, with RC drilling finished on quite a few conglomerate (Beatons Extended and Skyfall) and orogenic basement (Margies, Cutlass and AU81 north) targets. These are all positioned inside of a 50 km radius of the company’s Golden Eagle processing facility.

Extra substantial-priority targets more a short while ago delineated within the Nullagine undertaking region also scheduled for drill tests in the latter half of 2021.

The Nullagine gold challenge, named after the city in Western Australia in close proximity to which it is found, is 1 of Novo’s Pilbara paleoplacer gold tasks. The organization is at this time undertaking systematic exploration for gold-bearing reefs throughout this around 160 sqkm assets for source definition.

Novo Resources’ shares surged 8.4% by noon ET adhering to the company’s latest operations update. The Australia-focused miner has a market place capitalization of C$535.9 million.