1st Oct 2014 09:58
LONDON (Alliance News) - Noricum Gold Ltd Wednesday said its drill rig is to set to begin diamond drilling to test for deeper high-grade copper, gold and silver targets at its Weissenbachgraben site.
Drilling commenced at its Weissenbachgraben site on September 16 and is part of the company's 100% owned Schonberg gold and precious metals project in Austria.
"The rig will now be modified to drill the first of three, deeper 250 metre plus diamond drill holes at the same target area which are targeting high grade massive sulphide mineralisation," said Managing Director Greg Kuenzel.
"We are now two weeks into our maiden drill campaign at our high priority Schonberg project which has already yielded positive sampling results. According to plan and budget, we have completed the first six reverse circulation drill holes at Weissenbachgraben, with samples currently being prepared to be sent to ALS Laboratories in Romania for assay, results of which will be announced in due course," he added.
At the Schonberg project, a 3,000 metre drilling campaign is underway over three target areas, with an additional 2,000 metres being planned dependent on the assay results.
Noricum shares were up 5.7% to 0.560 pence per share Wednesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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