By Chris Wack
Novo Resources Corp. said Friday that it plans to increase gold production at its Beatons Creek operation, while the metal’s prices in Australian dollars are expected to hold up this year.
On gold production:
“Mining of the Beatons Creek oxide material will continue through mid-2022 as gold production and operational profitability are expected to increase as a result of changes to the mining approach, supported by control drilling of close content and rapid resumption of analyzes through our partnership with Intertek and the availability of Chrysos PhotonAssay Technology. “
Drilling of the fresh material from Beatons Creek has started to support the expected mineral resource update and the completion of a feasibility study, with confirmation of the extraction of the fresh material expected to be completed in the second quarter of 2022. In parallel, we are working with the West The Australian government must obtain the approvals for the extraction of the fresh material. Previous studies have indicated that the fresh material from Beatons Creek would withstand an operation for three to four years.
The company put the Beatons Creek Project into production in early 2021.
On gold prices and the Australian dollar:
“From a macroeconomic perspective, we have seen high gold prices in Australian dollars in 2021 and we expect this trend to continue through 2022.”
Write to Chris Wack at [email protected]