4th Jul 2014 07:39
LONDON (Alliance News) - Shares in Noricum Gold Ltd rose 4.7% Friday after it said it has continued to be pleased with the results of its soil-sampling programme at the Schonberg precious metals projects in south-central Australia.
Shares in Norcium Gold were trading at 0.560 pence Friday morning, up 0.025p.
The company is nearing the end of the soil-sampling programme, having taken 1,811 samples from four target areas across the licence area. Multiple gold and copper in soil anomalies have been delineated, and will continue to be refined through coming work, the company said.
The highest metal in soil values for the latest sampling showed 1.54 parts per million gold and 899 parts per million copper, and 0.25 parts per million gold and 2,090 parts per million copper.
Previously sampling results have shown values of 2.84 parts per million gold and 8,640 parts per million copper, and 3.82 parts per million gold and 7,950 parts per million copper.
Noricum Gold will complete the final infill sampling in the coming weeks, and said it will use the results to plan drill programme.
It is currently in the planning stages of a 3,000 metre diamond drilling programme, with the company's hydro-geology consultants undertaking preparatory work on site.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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