17th Nov 2015 11:08
LONDON (Alliance News) - Miner Noricum Gold PLC on Tuesday said the resource conversion and development work at its Tsitel Sopeli and Kvemo Bolnisi gold and copper projects in Georgia is progressing well.
Noricum said the focus at the site remains on fast-tracking low-cost production from the two prospects, given the near-surface mineralisation at both. The group said it remains confident in the potential of the project, based on both historical and new assay results, the latter of which are currently being prepared for submission and analysis.
"The resources at our project in Georgia are extensive as is the historic data available so I am pleased to report that the receipt of our first batch of verification samples from historic drilling undertaken at Tsitel Sopeli increases the already high level of confidence placed on the precision and accuracy of this historic data," said Chief Executive Greg Kuenzel.
"A second batch of samples from Kvemo Bolnisi is currently being prepared and will be submitted for assay shortly, providing us with further confidence and news flow going forward," he added.
Noricum shares were down 4.0% to 0.12 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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