28th Apr 2014 11:23
LONDON (Alliance News) - Noricum Gold Ltd Monday said it has recommenced the systematic soil sampling and geochemistry programme at the 100%-owned Schonberg gold and precious metals project after it was stopped in late December due to weather constraints.
The campaign was designed to test the extent and continuity of the mineralisation present at surface in the eight parallel veins previously identified as part of a structural corridor over three kilometres of strike.
The Austrian-focused gold exploration and development company is planning to take up to 1,000 close space follow up samples from the Weissenbachgraben and Adlitzgraben areas, while some infill will be completed on anomalies at Brunngraben.
High order gold and copper anomalies were identified from 500 samples at the Brunngraben area in the fourth-quarter of 2013.
Results included 2.84 parts per million of gold and 8,640 of copper.
The results of the programme will be used to design a first phase drill campaign at Schonberg.
Noricum Gold Managing Director Greg Kuenzel said the recommencement of the soil sampling programme at Schonberg is pleasing.
"The programme, which was started late last year, identified a number of high order gold and copper anomalies, emphasising the prospectivity of this project. Having already tested Brunngraben, we will now collect up to a further 1,000 samples, mostly from the Weissenbachgraben and Adlitzgraben areas," the managing director said in a statement.
"Subject to planning consents, we would look to drill this target area during the summer months. There is the possibility to re-configure our current budget to allow for some initial holes at Schonberg, although a more comprehensive drilling campaign may be considered if the justification and value accretive potential was strong enough," Kuenzel said.
"Elsewhere in our portfolio of Austrian projects, we are currently compiling a resource at the previously producing Rotgulden gold project based on the high grade drilling results gained in 2014," Kuenzel added.
Noricum Gold shares were Monday quoted at 0.668 pence, up 0.5%.
By Samuel Agini; [email protected]; @samuelagini
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