20th Nov 2013 10:08
LONDON (Alliance News) - Noricum Gold Ltd Wednesday said it has completed its 2013 underground drill programme at Rotgulden and commenced phase two of its soil sampling and geochemistry programme at the Schonberg project.
The Austria-focused gold exploration and development company said its final drill cores from Rotgulden are being logged and submitted for analysis over the coming weeks, while results from the past have found significant spaces including 3.9 metres at 51.53 grams per tonne of gold, 237.77 grams per tonne of silver and 2.69% copper.
The company said that all results from current and historic exploration will be modelled by H&S Consultants Pty Ltd to prepare a mineral resource, which is expected at the end of the first quarter or early second quarter 2014.
Noricum also said that the second phase of sampling at Schonberg is designed to test the extent of mineralisation present in veins mined historically and will test 1,500 samples over three kilometres.
First phase soil sampling at Schonberg returned multiple anomalies including 0.419 parts per million of gold and 0.22% copper from 109 samples.
?Planned drilling at Schonberg should provide a high-grade copper target that could potentially be a joint venture for us, or with some very easy and cheap holes, we could have a very exciting secondary or tertiary project,? Managing Director Greg Kuenzel told Alliance News in October.
Noricum Gold shares were down 1.6% to 0.900 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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