Quinton Todd Hennigh has spent 13 years scouring the Earth for clues to back a hunch: that the world’s biggest gold resource has lost siblings elsewhere on the planet.
Now the president of Novo Resources Corp. thinks he may have found a counterpart of South Africa’s Witwatersrand in the ancient red rocks near Australia’s northwest coast. In July, his company zeroed in on a gold find that’s confounded geologists and sparked a 500 percent surge in the explorer’s share price.
The first test on land south of the coastal town of Karratha looked good. Employing two men, a metal detector and a jack hammer, Vancouver-based Novo extracted gold nuggets as long as 4 centimeters (1.6 inches) from an exploration “trench” little more than a half-meter deep. That tiny sample hinted at ore grades that could be among the highest of any operating mine in the world. Continue Reading →