MARBLE BAR

The Marble Bar project comprises several gold targets around the town of Marble Bar. Through several wholly-owned tenements and an additional set of joint venture agreements with the Creasy Group, Novo is undertaking systematic exploration over twenty-seven mining, exploration and prospecting licences covering about 1400 sq km.

At Marble Bar, Novo is exploring several prospects for gold-bearing conglomerates within the Hardey Formation and at the base of the Roe Formation, both part of the Fortescue Group, a thick sequence of ancient sedimentary and volcanic rocks. The Virgin Creek and Contact Creek prospects are the more advanced prospects along several tens of kilometres of underexplored outcropping conglomerate and unconformity horizons. Novo secured the Marble Bar Paleoplacer Gold project in July 2012 under a joint venture agreement and added additional tenure over time.

Other gold targets are identified within some of the oldest rocks on Earth; greenstone dating to about 3.2 to 3.6 billion years. Greenstone was intruded by granite at around 3.0 to 3.2 billion years ago, and collectively, the granite-greenstone assemblage forms the core of the Pilbara craton. Gold at Talga Talga is believed to have been deposited very early, likely before 3.2 billion years, making this one of the oldest gold systems on Earth. Novo acquired the Talga Talga project in August 2015 following a transaction with Talga Resources (“TLG”) after recognising the gold potential of the wider East Pilbara Region.