Page 31 - gmj140-Jul-Sept-mag-web_Neat

The company recently took a
strategic interest in Kalamazoo
Resources Ltd (see pages 6-7),
which followed the company’s
stake in GBM Resources Ltd.
“The option agreement with
GBM is very strategic [at
Malmsbury], east and south-
east of Castlemaine. I think that
is in the geologic realm of where
Fosterville is in the north. The
position of that gold system at
Malmsbury is in the east end of
the Bendigo zone, in that critical
level where you are getting into
Sampling techniques akin to the diamond industry have helped Novo generate meaningful results
from the nuggetty style of mineralisation that epizonal environment,”
Hennigh said.
“Basically, we are in the sweet
but most of them are at exploration stage. It also included spot. That is my focus and if there is another Fosterville in the
consolidating the JV so, in the case of Beatons Creek and the Victorian goldfields, it is right there.”
area around Marble Bar, we basically consolidated it and Novo There has been no shortage of new Canadian interest in
owns 100%. Victorian gold recently and with prices for the precious metal
“We did take on a new JV partner south of Egina on a project continuing to rise, Hennigh believes this may only be the
that has some interest and base metals potential. It tidies up beginning of a gold boom in North America.
the JVs but also gave us exposure to much more land in the “It is starting to unfold and we are in a very early stage. I get
Pilbara.” 50-60 LinkedIn invitations a day, a lot from generalist fund
Hennigh said the atmosphere around conglomerate gold in managers and other types who have never looked at gold
the Pilbara wasn’t as exuberant as the days of 2016-2018, mining at all as an investment and all of a sudden it has hit their
however, the fact that the company’s share price was well radar,” Hennigh said.
supported was an indication of the appreciation for the progress “There are different ways I measure a boom and when I get
made by Novo. emails from people I have never ever heard of in my life all
While expectations for its Pilbara project continue to increase, wanting to know about gold mining that is a sign that things are
the company is not blind to other opportunities, having made an picking up.”
entry into high-grade gold in the Victorian goldfields.

Novo has enjoyed a steep learning curve around bulk
sampling and adequately assessing grade of conglomerate-
style mineralisation in the Pilbara

Page 31
Page 31