Novo: Road to Paradise
Just a short post on why I am especially interested to learn more about the “Road to Paradise” prospect within the greater Egina area…
Setting The Scene
Snippet from the February 13 news release:
Highlight:
“Novo’s geologic team has recently made a new terrace gold discovery, Road to Paradise, in an area approximately 11 km north-northeast of the Egina mining lease. Through regional study of surficial geology followed by target refinement using ground penetrating radar (“GPR”), a broad swale filled with shallow terrace gravels has been identified. Novo has confirmed the presence of coarse gold (Figure 2) in an area of widely spaced test pits, an exciting development given this area has no known history of prospecting”
Where/what is Road to Paradise?
… It’s a curiously straight line that extends to the Paradise prospect.
Why the straight line? What is it cutting across?
… Well well, that’s the Ferrous Iron Index and Regolith curiously I have highlighted in previous videos and posts.
How does it compare to the Egina Mining Lease (red box) which has been the only area we have been allowed to do large scale bulk sampling at?
… Hmm hmm… Arbitrarily doing a cross cut over a huge anomaly huh… And again, what they found was:
“a broad swale filled with shallow terrace gravels has been identified. Novo has confirmed the presence of coarse gold (Figure 2) in an area of widely spaced test pits, an exciting development given this area has no known history of prospecting”
… So just really lucky to be able to confirm coarse gold “in an area of widely spaced pits”… Through the usage of what I can only assume were the small scale bulk sampling techniques… Done in a “random” straight line across a big anomaly… Which had seen no previous prospecting…
…Right?
Did anyone really think that the little Egina Mining Lease would be the best lag gravel area?
Will Road to Paradise be the first prospect to dispel that notion?…
I REALLY wonder what Sumitomo thinks about the overall picture here /Sarcasm…
We’ve barely just begun unraveling Egina gold fields…
Stay tuned in 2020 and beyond…
(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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HaHA seems like the Golden Eggs are just starting to be found!!!
I know you cant give investment advice, but Id like to know what your doing in this massive mining stock sell off environment ? Id hate to sit thru a 2008 moment, I know we have zero certainty about this cerveza virus and what kind of deflation or inflation we might see. You have any thoughts at what point this might turn?
thanks
-sasha in san diego
Good signs for sure. If they have now figured out both how to identify and confirm swales then that’sa big positive… And if ore sorting works as good as it looks then we should be golden (as long as we get permitting!).
I’m not sure what to do either. First of all, the miners are so cheap that it feels like stupid to sell. The risk, IMHO, is not that I think they will be bad investments but rather that there might be even better opportunities coming…. So as it stands now I am just HODL:ing (with a massive paper loss in the last month) and plan to buy more if it goes down further. In other words: I am sitting still and plan to use dry powder if better bargains come along. Miners should not be this cheap.
How much of this straight line is permitted to be bulk sampled or mined? Are more heritage surveys required in this area?
Thanks
Hey James,
I’m not sure on the sampling thing. I do think they could be allowed to take some big samples since at least the line is already surveyed. Again, not sure on the details so it’s just my guess!
Best regards.