Press Release
Frasier Institute Annual | Survey of Mining Companies 2019
“This transformative acquisition places Novo on the fast track to production,” commented Quinton Hennigh, Chairman, President, and director of Novo. “Novo entered the Pilbara region ten years ago on a largely conceptual basis and this transaction enables us to significantly accelerate our transition into a producing gold company. The Millennium Assets provide us with ideally suited infrastructure that should enable us to begin producing gold from our Beatons Creek Project several years earlier than our initial plan.”
Hennigh continued, “Reaching the point at which we are today, the precipice of bringing conglomerate gold deposits into production, is the result of many years of hard work and creative innovation. Our path has included many milestones such as synthesizing a new geologic model for Pilbara conglomerate gold deposits, developing rigorous protocols for quantifying nuggety gold mineralization, conducting extensive bulk sampling, undertaking large scale trial excavation and processing, modeling resources around these unique deposits, negotiating multiple native title agreements, and seeking and receiving mining approvals, just to name a few. I am very grateful to the team at Novo for their dedication to achieving this important objective.”
For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com
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