Novo (NVO.TO): uncovers fresh targets near Hemi gold discovery

Canadian listed Novo Resources said it has identified multiple untested magnetic anomalies comparable to the gold-bearing intrusions at De Grey Mining’s extraordinary nine-million-ounce Hemi gold discovery. The new targets have been etched out of the northern sector of Novo’s 100 per cent owned Egina project in the West Australian Pilbara Craton. They were identified through a detailed aeromagnetic interpretation in conjunction with extensive soil sampling.

Novo’s new targets are located within a broad north-east trending structural corridor that forms part of a network of shear zones and sanukitoid intrusive centres that host the Hemi discovery. Hemi is one of Australia’s recent major gold discoveries and sparked a lot of interest in its intrusive style of geology that previously was not well known for its mineralisation.

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