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Novo rises on new gold project

Shares in Canadian-listed Novo Resources Corp (CN:NVO) rose more than 11% on news it is upping its presence in Western Australia’s Pilbara, announcing a A$2 million farm-in with Artemis Resources (AU:ARV) and staking a large claim over “a new style of gold mineralisation” near Karratha.

Mining Journal
A gold nugget from the Comet Well area on a 1mm x 1mm grid

A gold nugget from the Comet Well area on a 1mm x 1mm grid

The cashed-up, Vancouver-based company will spend the A$2 million (US$1.5 million) over two years to earn 50% of Artemis’ gold rights in relation to conglomerate and/or paleoplacer-style mineralisation...

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