23rd Jun 2014 09:08
LONDON (Alliance News) - Noricum Gold Ltd Monday said soil sampling results at its Schonberg precious metals project in south-central Austria continues to justify the conducting of drill programmes in the 2014 field season, which will consists of a 3,000 metres of diamond drilling to test high-grade copper targets and a reverse circulation drilling campaign to test anomalies identified by ongoing soil sampling programmes.
Soil sampling has been ongoing at Schonberg now for several months. Phase one sampling created a grid of samples that were on lines 50 metres apart, with samples every 15 metres on that line, while phase two sampling infilled the first phase and halved the line distance where anomalism was noted.
Noricum said its latest soil sampling results, which comprise a total of 717 samples, provide further infill sampling coverage over the Brunngraben and Weissenbachgraben areas as well as samples from a previously inaccessible area in the Adlitzgraben area, where the company previously reported anomalous gold and silver values.
"The results provide further confirmation of the anomalism encountered in these areas and also extends these metalliferous veins," the company said.
London-based Noricum said it believes this anomalism is related to the mapped veins which are the subject of historical mining, and that it is possible that further veins exist, as evidenced by mineralisation being encountered away from known veins.
More veins have been located outside the soil sampling area and are yet to be fully evaluated by ground crews by chip sampling. Some soil lines will be extended to cover these areas shortly, Noricum said.
Once the final results have been received, a reverse-circulation drill programme will be designed to more specifically test the anomalies identified by the ongoing soil sampling programme during 2014.
Noricum Gold shares were quoted down 3.2% at 0.460 pence Monday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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