Talga Talga Gold Royalty

Since Novo acquired Talga Talga, spot rock chip sampling of lode quartz veins has returned encouraging assay results including grades of 81.4 g/t, 46.9 g/t, 35.1 g/t and 30.0 g/t gold. Of a total of 149 samples, 68 returned grades greater than 0.5 g/t gold and 33 returned grades greater than 5.0 g/t gold.

Novo recently announced the results of a successful ore sorting programme undertaken on ore from its Beatons Creek Project and noted “Given that gold particles at Beatons Creek are generally much finer than those at Egina and Karratha where mechanical sorting tests have yielded excellent recoveries into low volume concentrates, Novo is taking a view that such sorting may prove important not only to Beatons Creek, but perhaps to Novo’s other, less advanced gold projects including Virgin Creek, Contact Creek and Talga Talga, all of which display similar nuggety gold mineralisation to that at Beatons Creek”.

Taken together with Novo’s recent acquisition of Millenium Minerals processing plant and infrastructure in the Pilbara region, ore sorting may provide a feasible pathway to production from ore from the Talga Talga royalty zone.