Hi Mate, this is way out of my field of knowledge but last year...

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Naylor-1

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11/04/21

10:58

Post #: 52383683
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Originally posted by maverick12312 ↑

hi Wombat,

With the grade point, it is clear that a 0.15g/t cutoff is workable for heap leach operations like Eagle & Fort Knox. However, Nova as far as I can see has never released details on the sulphide content of the deposit.

They have the below in the geological notes of the latest MRE:
"Type 3 quartz-sulfide-Au-chlorite veins, which appear to host most of the gold at the Estelle Property, with chlorite-sericite alteration selvages; Type 3 veins are polymetallic with coexisting chalcopyrite, pyrrhotite, and arsenopyrite forming the most common sulfides with lesser galena, argentiferous galena, and bismuthiferous galena occur free in veins and as inclusions in pyrrhotite, chalcopyrite, and arsenopyrite. The most significant gold mineralization occurs as inclusions of gold, bismuth, and tellurium within arsenopyrite."

This suggests that the majority of Nova's gold is hosted in arsenopyrite veins which would likely have low recovery via heap leaching being refractory. Fort Knox is the gold standard, highlighted as having <0.1% sulphide content in the orebody while others like Victoria Gold have used a much higher cutoff for the Olive section because it has higher sulphide content >5% than Eagle and therefore lower recoveries/higher cost.

I suspect this is why ore sorting has been a focus of the company's recent announcements & interviews, however there is no indication as to exactly how much ore is planning to be sorted. Seems like if they are planning to ore sort 518Mt (likely much more given resource is still growing), CAPEX and power requirements are going to be significantly more than I expected. Power is my biggest concern due to the remoteness and the low power usage potential of heap leaching is something that makes this project so attractive.

Have you done any similar research on potential sulphide content of the orebody and how this would affect heap leach viability & project economics?

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Hi Mate, this is way out of my field of knowledge but last year initial heap leach test works had 76% recovery with scope to improve.

NVA Price at posting: 17.0¢ Sentiment: Buy Disclosure: Held
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Hi Mate, this is way out of my field of knowledge but last year...

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