5th Sep 2014 15:00
LONDON (Alliance News) - Austria-focused Noricum Gold Ltd Friday said its mobilisation has started for an initial 3,000 metre drill programme at its Schonberg Gold and Precious Metals Projects.
The company's recently completed soil sampling campaign at Schonberg produced highly encouraging results of up to 3.82 parts per million of gold and 8,640 parts per million of copper and consistently delivered positive high grade results across the currently identified 3 kilometre strike, said the company.
Following full analysis of the programme, Noricum anticipates that the campaign will consist of a blend of reverse circulation drilling designed primarily to test the anomalies identified by the soil sampling, and diamond drilling designed to test the deeper massive sulphide mineralisation.
Noricum also said Friday that it issued 12.6 million new share consultants to the company at a price of 0.50 pence per share.
As a result of the issue of new shares, the company's issued share capital now consists of 969.0 million shares.
The stock was quoted up 8.0% at 0.540 pence per share Friday afternoon.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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