Novo: Fun With Math
The archean aged sedimentary rocks of Pilbara are highly enriched in gold. The De Grey Group of rocks have background gold values of 10-20 ppb. It might not sound like much but the crustal background average is 1-2 ppb.
… Then consider that just the outcropping Mosquito Creek Formation near Beaton’s Creek is around 30 x 60 km (= 1,800 km2) and is thought to extend up to 20 km at depth where it is preserved.
… Now if we take all this together and assume that specific gravity is say 2.2 then the outcropping Mosquito Creek block would contain 25-50 billions of ounces of very low grade gold (10-20 ppb), alone.
… Gold enriched sedimentary packages such as this in Pilbara is what is believed to be at least the secondary source which fed all the countless quartz veins around the Pilbara Craton.
Why are the sediments in Pilbara so rich? Well, that’s up for debate but we know that Novo believes it is explained by ancient microbial activity which captured gold from ancient gold enriched waters (Ps. It doesn’t really matter where it came from 😉 )
I hope the above example will be helpful context if you re-watch Quinton’s presentation from the CDFund Discovery Day:
… So for the last time, there is most probably not ONE LODE or whatever which was the source for the gold enriched 300 x 600 km basin, but rather countless tiny to large lodes all across Pilbara.
… Which sourced their gold from highly gold enriched sediments that probably covered large parts of the entire basin back in the day, before erosion set in and left us with the outcrops we see today.
(Note: This is not a buy or sell recommendation. This is not investment advice and I am not a geologist. This article is highly speculative, forward looking and I can’t guarantee accuracy. Always do your own due diligence. I own a lot of shares of Novo Resources which I have bought in the open market and am thus biased. Novo is a passive banner sponsor on my site. )
Best regards,
The Hedgeless Horseman
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