6th Jan 2014 08:24
LONDON (Alliance News) - Noricum Gold Ltd Monday said it has found significant gold, silver and copper results from the remaining drill holes in its 2013 testing programme at the Rotgulden Gold and Precious Metals Project.
The Austria-focused gold exploration and development company said results included a 14 metre space at the RY04 site which held 4.59 grams per tonne gold, 26.28 grams per tonne of silver, and 0.26% copper from 27 metres down.
The company said its RY02 site held a nine metre space with 3.49 grams per tonne gold and 10.34 grams per tonne silver from 39 metres in depth.
Noricum added that results from its RY03 site included a six metre space at 3.8 grams per tonne gold, 36.59 grams per tonne silver, and 0.19% copper from 24 metres down.
The company said that results from all 25 holes drilled at the site during its testing programme are now being incorporated into an initial JORC compliant resource estimate for the Rotgulden underground mine, which is expected to be completed in the first half 2014.
Noricum said that the results will also be used to develop the company's 2014 drilling programme which will be focused on two of four targets within the Rotgulden tenure: the previously producing mine and the Altenberg target two kilometres to the south.
?We are at the moment looking at potential scenarios for early stage production at the mine,? Noricum's Managing Director Greg Kuenzel told Alliance News in November. ?We'd like to be self-funding so that we can explore the area in detail.?
To read the interview with Noricum's Managing Director please see the URL below:
http://allapp.alliancenews.com/article?u=c26fbd13353a44cdbc0680f496df6f3b&a=1383581236689329200
In early trading Monday, Noricum Gold shares were quoted down 1.6% at 0.856 pence.
By Tom McIvor; [email protected]; @TomMcIvor1
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