22nd Oct 2013 09:33
LONDON (Alliance News) - Noricum Gold Limited Tuesday said it has uncovered further gold and silver mineralisation in its underground drilling tests at its flagship Rotgulden gold and precious metals project.
The Austria-focused gold exploration and development company said the best results from the site include a 16.7 metre space with 2.71 grams per tonne of gold and 13.4 grams per tonne of silver including a 3 metre space with 7.24 grams per tonne of gold and 34.5 grams per tonne of silver.
The company said that additional drilling at the site is necessary to further extend mineralisation across and up the strike while drilling at its location C has now completed, with results expected shortly.
"We continue to believe that Rotgulden has the potential to host an exciting new gold province in south-west Austria, and with much newsflow expected in the coming months, I look forward to providing further updates on our progress," Managing Director Greg Kuenzel said in a statement.
Noricum Gold shares were down 8.9% to 1.06 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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