(From Their Website)
About Novo Resources Corp. ("Novo" or the "Company")
Novo's focus is to evaluate, acquire and explore gold properties. Novo has the right to earn a 70% interest in the approximately 1,800 square kilometer Pilbara Paleoplacer Gold Project (includes the Beatons Creek and Marble Bar paleoplacer gold projects) in Western Australia from the Creasy Group and a right to earn a 70% interest in the approximately 10 square kilometer Beatons Creek Tenements, also in Western Australia, from Millennium Minerals Ltd. Novo also holds non-controlling investments in other junior gold exploration companies including EurOmax Resources Ltd., Prosperity Goldfields Corporation, and Evolving Gold Corp.
The Company's present focus is its Beatons Creek and Marble Bar paleoplacer gold projects in Western Australia. The Beatons Creek Tenements cover extensive exposures of the Beatons Creek conglomerates, a series of Archaean age pyritic conglomerates hosting gold mineralization similar to that of the Witwatersrand Basin in the Republic of South Africa. Shallow gold reefs were first identified and mined in this area beginning in the late 1800's.
The thirty two properties within the Marble Bar paleoplacer gold project cover an area of approximately 1,251 square km in the Nullagine embayment and 554 square km in the Marble Bar subbasin underlain by 2.74 billion year old siliciclastic sedimentary and volcanic rocks belonging to the Fortescue Group, the basal part of the Hamersley Basin located in the Pilbara region of Western Australia. These rocks are similar in age and character to the Central Rand Group of the Witwatersrand Basin, Republic of South Africa, the single largest gold region on Earth. The Fortescue Group hosts multiple conglomerate horizons known to contain gold. Although these rocks were mined locally in the late part of the nineteenth century, little modern exploration has taken place in the region.
The Company has an experienced management team in place, which has extensive expertise in identifying properties that have the best potential to recommence and expand profitable mining from known and newly discovered mineral prospects.