The Beatons Creek Paleoplacer Gold Project in Western Australia is one of two gold projects that collectively make up Novo Resource's Pilbara Paleoplacer Gold Project. At Beatons Creek, Novo is exploring for gold-bearing conglomerates (reefs) within the Hardey Sandstone Formation, part of the Fotesque Group, a thick sequence of ancient sedimentary and volcanic rocks. Historic mines near the town of Nullagine exploited pyritic gold-bearing reefs as early as the late 1800's. Otherwise, the area has seen only very limited modern exploration. Through a 100% interest in certain tenements and a joint venture agreement with the Creasy Group, Novo is undertaking systematic exploration for gold-bearing reefs across this approximately 560 square kilometer project.
Novo Resources controls 100% interest in the Beatons Creek Paleoplacer Gold Project (news release). The property is comprised of twenty, mining leases, exploration tenements and tenement applications covering approximately 560 square kilometers.
The Beatons Creek Paleoplacer Gold Project in Western Australia is one of two gold projects that collectively make up Novo Resource's Pilbara Paleoplacer Gold Project. Approximately half of the Nullagine embayment of the Hammerley Basin, highlighted in darkened colors in the adjoining map, is under the control of two joint ventures: Novo Resources (70%) and the Creasy Group (30%) covering about 550 square kilometers and Novo Resources (70%) and Millennium Minerals Ltd (30%) covering about ten square kilometers, both outlined in yellow. The Nullagine embayment is a 50-kilometer long north-trending extension of the Hammersley Basin up to approximately 30 km wide.
The Nullagine embayment is comprised of Archean Fortesque Group (FG) sedimentary and volcanic rocks up to 3 kilometers thick that rest unconformably on ancient igneous and metamorphic rock of the Pilbara craton. Gold-bearing conglomerate horizons (reefs) occurring within the Beatons Creek member of the Hardey Sandstone Formation were exploited by historic mines near the town of Nullagine along the eastern margin of the embayment as early as the late 1800's.
Novo is focused on exploring for gold-bearing reefs within the Hardey sandstone in the vicinity of the town of Nullagine. In late 2011 and early 2012, Novo undertook a limited reverse circulation drill test of an area near outcropping gold-bearing conglomerates. Based upon encouraging results from these drill holes, Novo plans to undertake further drilling near this location later in 2012. In addition, reconnaissance level work including stream sediment sampling is being undertaken elsewhere within the Nullagine embayment to explore for additional gold-bearing reefs higher and lower in the FG.