The Beatons Creek gold project consists of extensive gold-bearing Hardey formation conglomerates that outcrop on the eastern edge of a Fortescue Group plateau that accumulated in the Nullagine sub-basin. Novo Resources Corp’s gold project is located immediately west of the town of Nullagine. Immediately east of Nullagine lies the historic Mosquito Creek gold district represented by orogenic gold deposits in older Archean rocks.
Novo has been prospecting, sampling and drilling its Beaton’s Creek project for several years, including a 1,000 m deep reconnaissance hole collared in the Kylena basalt which overlies the Hardey formation and the basal Fortescue Mount Roe basalt. Novo’s sampling and drilling programs have established that gold-bearing units show a substantial increase in gold grade in proximity to faults that cut the Hardey formation.
Pacton’s Impact 5 tenement is located approximately 17 km northwest of Novo’s Beatons Creek project and lies on the western edge of the Hardey formation plateau. Pacton has established a stratigraphic equivalency between the exposed Impact 5 western plateau edge and the productive stratigraphy at Beatons Creek. (Figure 2). Moreover, the Hardey formation within the Impact 5 tenement is intensely fractured with steep dipping faults and multiple networks of low displacement shears that collectively form a pervasive fracture network.
The initial 2019 Impact 5 exploration program will consist of surface prospecting along the Hardey plateau’s western edge and along dissected drainages. A specific 70 m thick stratigraphic interval will be investigated on the basis that it is interpreted to correlate with the Beatons Creek gold-bearing stratigraphy. Additionally, the intense fracture network will be sampled on surface, in drainages and along the western Hardey plateau edge.