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Near-surface gold increases at Novo Resources' Beatons Creek; COO resigns

An updated resource estimate for Novo Resources Corp.'s Beatons Creek project in Western Australia increased near-surface measured and indicated gold by 17% as compared to the previous 2015 estimate, while near-surface inferred gold increased by 40%.

Beatons Creek hosts measured and indicated resources containing 345,000 troy ounces of gold within 4.6 million tonnes of ore grading an average 2.3 g/t, with inferred resources estimated to contain 322,000 troy ounces of gold within 3.8 million tonnes grading 2.6 g/t.

The near-surface resource forms the bulk of the estimate, with 342,000 ounces of measured and indicated gold and 282,000 ounces of inferred gold, according to the Oct. 10 release.

The estimate used cutoffs of 0.5 g/t for near-surface material and 2 g/t for underground material, and incorporates data from drilling and trenching completed between 2015 and 2018.

Novo Resources also reported that Simon Pooley resigned as its COO.