20th Apr 2015 07:59
LONDON (Alliance News) - Noricum Gold Ltd on Monday said it has started the first stage of exploration work at the Walchen VMW deposit in Austria, which it acquired in late March.
Noricum said its management and staff have been collating historical data and undertook a site visit last week, which has resulted in it initiating planning to first pass exploration, which will comprise mapping, sampling and ground-based geophysics, followed by drill targeting.
The first phase work programme is fully-funded, Noricum said.
"Our team spent several days in and around Walchen last week meeting with our local consultants, collating historical data as well as spending time on site. Walchen is understood to be one of the largest and most promising polymetallic ore deposits in Austria and we look forward to commencing field work over the coming weeks," said Noricum Managing Director Greg Kuenzel.
Shares in Noricum were down 1.7% to 0.206 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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