23rd Jun 2016 07:40
LONDON (Alliance News) - Noricum Gold Ltd on Thursday said it has started validation drilling work on potential copper targets at the Kvemo Bolnisi project in Georgia.
Noricum said the drilling programme is part of its plan to assess, develop and produce copper ore from the eastern part of Kvemo Bolnisi, alongside the existing plan to mine for gold at the project.
The company added infill drilling on the gold target at Kvemo Bolnisi is continuing ,and an 11-hole diamond drill programme at Tsitel Sopeli target at the project has been completed, with the final core being prepared and sent off for testing.
"Our work in Georgia is progressing well and with the commencement of the diamond drilling programme at Kvemo Bolnisi copper, we are now running three drill programmes consecutively. Further news is expected to include updated resource estimations, upgrade of resources, drill results and completion of a memorandum of understanding related to future processing agreements and the use of treatment plants owned and operated by our local partner," said Greg Kuenzel, Noricum's managing director.
Noricum shares were down 0.7% on Thursday at 0.147 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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