Novo provided an update on exploration activities at Purdy’s Reward, a farm-in and joint venture with Artemis, and part of Novo’s greater Karratha gold project in Western Australia.

With the 2017 diamond core drill program concluding on 15 December, a total of 3,294 metres was drilled in 69 holes. Most drill holes fell within a 1,550-metre-long northeast-trending corridor up to 500 metres wide. In addition, a line of three step-out holes was completed approximately 300 metres southeast of this corridor – a first test of continuity of strata into the basin.

Continuity of the conglomerate sequence appears strong within the targeted drilling corridor. With the exception of three paleo-topographic highs, areas where basement gabbro intrusive rocks form islands in the southwest part of the target area, the conglomerate sequence forms a continuous sheet-like unit at the base of the Fortescue Group.

Novo has also extracted numerous samples of in situ gold mineralisation from trenches excavated at Purdy’s Reward, with virtually all gold occurring as coarse nuggets within conglomerate matrix.

Gold nugget purities range from approximately 87% to nearly 100% with most toward the higher end of this range. Silver and lesser copper and mercury make up impurities.

Given the overwhelming indications that Purdy’s Reward is an extremely coarse gold system, Novo is undertaking a comprehensive size analysis of gold distribution in a 3-tonne sample collected. Independent coarse gold expert Dr Simon Dominy is directing this work, and its completion is expected in January 2018.


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