26th May 2015 07:30
LONDON (Alliance News) - Precious and base metal exploration and development company Noricum Gold Ltd Tuesday said it has commenced an extensive geological mapping and sampling programme at the Walchen volcanogenic massive sulfide deposit in Austria, which it acquired in March.
The programme is estimated to take two to four weeks and will focus on known outcrops from historical studies plus new cuttings made by recent forestry road works in the area, the company said.
Noricum added that the programme is in line with its strategy to de-risk its properties through systematic exploration as it works towards an initial drill programme.
"These low cost reconnaissance initiatives will significantly de-risk the ongoing development of the Walchen Project making it drill ready in the short term," Managing Director Greg Kuenzel said in a statement.
Shares in Noricum were untraded Tuesday morning, last trading at 0.204 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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