Novo Resources - De Grey Reaches A$7Million Spent At Egnia Gold Project, Investment Continues
Mike Spreadborough, Executive Co-Chairman of Novo Resources (TSX: NVO - OTCQX: NSRPF - ASX:NVO) joins me to provide an update on the Joint Venture with De Grey Mining (ASX:DEG), focusing on gold exploration at the Egina JV Projects in Australia. De Grey has met the $7 million minimum spend and is on track to complete the $25 million to secure a 50:50 JV equity.
4 Key prospects have received the 34,180 m of AC (aircore) drilling and 9,129 m of RC (reverse circulation) drilling to date, the Heckmair, Irvine, Lowe and Whillans Prospects. Mike outlines how the AC and RC drilling is used in series to test mineralization undercover on the Project. We also discuss what future drilling will be out of De Grey to advance this earn-in JV.
Please email me with any follow up questions for Mike and the team at Novo Resources. My email address is Fleck@kereport.com.
