3rd Feb 2014 12:01
LONDON (Alliance News) - Noricum Gold Ltd Monday said it has received positive results from soil sampling and geochemistry tests at its 100%-owned Schonberg Gold and Precious Metals Project.
The Austria-focussed gold exploration and development company said the programme was designed to test the extent and continuity of the mineralisation present at surface in eight previously identified ore veins.
The company said results from the 500 samples confirm the previously producing Schonberg project as a high priority target and returned anomalies including gold to 2.84 parts per million and copper to 0.86%.
Noricum said close space follow-up studies of 1,000 plus additional samples remain to be collected over the coming months, the results of which will be used to design a first phase drill campaign at Schonberg.
"The exciting results delineated from Schonberg to date provide us with strong justification to look at implementing an initial drill programme over the summer months, subject to planning consents," Noricum Managing Director Greg Kuenzel said in a statement.
Noricum Gold shares were down 0.7% to 0.700 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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