- Novo Resources Corp. (NVO) resumes operations at its Golden Eagle Mill processing facility
- The Golden Eagle Mill underwent maintenance for approximately seven days while the company repaired its main crushing unit after encountering additional wear during routine scheduled maintenance
- Crusher repairs are now complete, and the Golden Eagle Mill was re-started today as a result
- Mining operations continued during the shut, and stockpiles have increased to approximately 370,000 tonnes as a result, putting the operation in a strong position leading into the wet season
- Novo Resources Corp. is down 3.774 per cent and is trading at $1.53 per share at 2:57 p.m. ET
Novo Resources Corp. (NVO) resumes operations at its Golden Eagle Mill processing facility.
The Golden Eagle Mill underwent maintenance for approximately seven days while the company repaired its main crushing unit after encountering additional wear during routine scheduled maintenance.
Crusher repairs are now complete, and the Golden Eagle Mill was re-started today as a result.
Mining operations continued during the shut, and stockpiles have increased to approximately 370,000 tonnes as a result, putting the operation in a strong position leading into the wet season.
The company advises the first phase of a raise to its tailing’s storage facility is complete, and the requisite operating licence has been issued by the Western Australian Department of Water and Environmental Regulation.
This phase will provide approximately 12 months of processing capacity.
Completion of the second phase is scheduled for early 2022.
This second phase will provide approximately another 12 months of processing capacity, following the 12 months of the first phase.
Yesterday the company announced new targets identified in the northern sector of its Egina project.
These targets are located within a broad North-East trending structural corridor which forms part of a network of shear zones and sanukitoid intrusive centres that the recent Hemi discovery.
Hemi is one of Australia’s recent major gold discoveries, hidden under 20 to 30 metres of transported cover.
The new targets include multiple discrete magnetic targets identified from detailed aeromagnetic interpretation.
It represents potential intrusive bodies under cover, and extensive gold-ardennite-antimony soil anomalies in the vicinity of the epithermal vein system at Becher.
Novo operates the exploring and developing of its prospective land package covering approximately 13,250 square kilometres in the Pilbara region of Western Australia.
Novo Resources Corp. (NVO) is down 3.774 per cent and is trading at $1.53 per share at 2:57 p.m. ET.
