16th Sep 2014 12:29
LONDON (Alliance News) - Noricum Gold Ltd Tuesday said it has started the drilling programme at its Schonberg gold and precious metals project in Austria.
Noricum shares bounced on the news, rising 13% to 0.535 pence to sit among the top-ten best performers on AIM in early afternoon trading on Tuesday.
The 3,000-metre drill programme will look to test the deeper massive sulphide mineralisation at the site, along with anomalies resulting from geochemistry works at the targets identified at the project to date.
Initial drilling at the site will start at Weissenbachgraben, one of three main target areas at Schonberg, Noricum said. At Weissenbachgraben, Noricum is planning 600 metres, or 8 drill holes, of reverse circulation drilling, and 800 metres, or 3 drill holes, of diamond core drilling.
"This drill programme is intended to demonstrate the resource potential of this project, where we have already confirmed the presence of up to eight veins," said Greg Kuenzel, managing director of Noricum.
By Sam Unsted; [email protected]; @SamUAtAlliance
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