7th Oct 2015 07:33
LONDON (Alliance News) - Noricum Gold Ltd Wednesday said its Walchen VMS deposit in Austria has the potnetial to host multi-element mineralisation following on from its recent sampling programme.
The miner said rock samples from the deposit have returned grades of up to 2.25% copper, 0.8 grammes of gold per tonne, 94.9 grammes of silver per tonne, 2.44% lead and 1.84% zinc.
Noricum is now planning a drill programme to test the near surface mineralisation and is currently sampling the underground channel which is expected to have lower grade ore.
"Our work in Austria continues positively with a focus on the Walchen VMS deposit. Further multi-element mineralisation with solid grades have been received through sampling work undertaken in conjunction with our detailed mapping campaign, again reinforcing Walchen's potential, and therefore we are now planning for a first phase drill programme to test the near surface mineralisation," said Managing Director Greg Kuenzel.
Noricum shares were down 3.3% to 0.131 pence per share on Wednesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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