Gold Price (USD) 1281.63


Technical Report

The Tuscarora project comprises 24 unpatented BLM lode mining claims approximately 50 miles north of Elko, Nevada.  Novo holds a 100% interest.  Eocene volcanic rocks underlying most of the Tuscarora district host high-grade epthermal Au-Ag veins.  One of the most prolific veins, the Navajo vein, was mined along strike for nearly two km till it was lost under pediment gravels at the southern margin of the district.

In the 1990’s, Newcrest Mining Ltd and Franco-Nevada Corporation each explored for the extension of the Navajo vein encountering several drill intercepts grading over one oz per tonne Au.  Because down-hole surveys were not conducted on most historic drill holes, demonstrating continuity of the vein extension proved elusive.

Novo thinks the Navajo vein extension will display similar continuity and widths (1-3 m) to the historic Navajo vein which was mined in the 1880’s.  The target is approximately one km long and lies under a veneer of alluvium ranging from 10-130 m thick.  Historic drilling indicates the vein begins immediately beneath the pediment surface and extends for depths of at least 200 m below it.

In early September, 2016, Novo completed eight reverse circulation drill holes testing the Navajo vein extension.  To better locate the positions of vein intercepts, Novo surveyed all drill holes.  In addition, Novo drilled two holes at slightly different angles from each of three drill pads so as to intersect the vein twice thus allowing better determination of the orientation of the vein.  Assays from this drill program are expected to be available by the end of September, 2016.


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