Bonanza Silver & Excellent Copper Result-Altenberg

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Noricum Gold Limited / EPIC: NMG / Sector: Natural Resources

20 September 2011

Noricum Gold Limited ('Noricum Gold' or 'the Company')

Bonanza Silver and Excellent Copper Results from Altenberg Valley, Rotgülden

Noricum Gold Limited, the Austrian focussed gold exploration and development company, is pleased to announce continued success at the Altenberg Valley target with high grade silver and excellent copper results received from its surface sampling and reconnaissance work. These results follow gold values of up to 86.4 g/t delineated from the programme as announced on 14 September 2011.

Overview

·; Multi-element results up to 1,011g/t silver and 4.49% copper from 92 samples from the Altenberg Valley target complementing the previously announced gold results of up to 86.4g/t

·; NA-8 alone returned 2.58g/t gold and 1,011 g/t silver

·; Results confirm the multi-element potential of the Rotgülden project and the wider region

·; Altenburg Valley target located within the 8 km of prospective strike, which runs through its 100% owned 51 sq km Rotgülden gold and precious metal project 

·; Exploration focussed on highlighting the variety of styles and the extent of mineralisation in the project area

Noricum Gold Managing Director Greg Kuenzel said, "The Rotgülden licence area continues to produce fantastic high grade results. With values of up to 1,011g/t silver and 4.49% copper, combined with gold results of up to 86.4 g/t announced last week, the significant multi-element potential of the Altenberg Valley target is clearly being demonstrated."

The Altenberg Valley

The Altenberg Valley is located 2.7 km to the south-west of the previously operating Rotgüldenmine. This area is relatively under-explored and as announced on 14 September 2011, the 92 samples taken during the recent field trip are designed to highlight the variety of styles and the extent of mineralisation in the project area.

Figure 1 - Regional map (please see PDF link at top of page)

As part of the programme, three adits were sampled. Eight samples were taken from Fahlerzstollen adit, 15 samples were taken from the Fensterstollen adit and seven samples from the Wasserstollen adit. The rest of the samples originate from surface outcrops and dumps. 

The samples returned values of up to 1,011 g/t silver ('Ag') and 4.49% copper ('Cu').  Sample NA-8 also returned grades of 10.9% lead and 3.66% zinc. The Company intends to conduct further sampling to define the extent of this mineralisation. All assays are included below in Table 2 although best results include:

Going forward, the Company will collate all the results to date to plan further follow up work which will be completed during the current field season. Sampling will be conducted at the northern and southern extensions of what the Company believes to be an 8 km strike extending from the previously producing Rotgüldenmine through to Altenberg Valley, already defined to date.

The results to date highlight the prospectivity of the project and with this in mind, it is likely that exploration next year will involve a significant drilling programme, subject to funding, to better define the mineralisation styles and extents.

Figure 2 - Altenberg sample locations including adits (please see PDF link at top of page)

Table 2

Competent Persons

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Jeremy Whybrow, who is a Member of The Australasian Institute of Mining and Metallurgy.

Jeremy Whybrow is a director of the Company.

Jeremy Whybrow has sufficient experience, relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Jeremy Whybrow consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Glossary

Adit A type of entrance to an underground mine which is horizontal or nearly horizontal

Arsenopyrite An iron arsenic sulphide, FeAsS, often associated with gold mineralisation

Mineralised Containing ore minerals

Mineralisation The process by which minerals are introduced into a rock. More generally, a term applied to accumulations of economic or related minerals in quantities ranging from weakly anomalous to economically recoverable.

Geophysical

Survey A prospecting technique which measures the physical properties (magnetism, conductivity, density) of rocks and defines anomalies for further testing

Pyrite An iron sulphide mineral, FeS2

Pyrrhotite An unusual iron sulphide mineral with a variable iron content

Quartz A very common mineral in sedimentary, magmatic, metamorphic, and hydrothermal environments : SiO2

Sulphide a compound of sulphur and some other element that is more electropositive

Strike A geological term which describes a horizontal line on the surface of a dipping stratum. The strike is 90° to the dip of the stratum.

Vein/veinlet A fracture which has been filled by minerals which have crystallised from mineralised fluids.

**ENDS**

For further information please visit www.noricumgold.com or contact:

Notes to Editors

Noricum Gold Limited is an AIM listed gold and precious metal exploration and development company focussed on south-central Austria, an historic gold producing region. Its portfolio spans five areas across 165 sq km of highly prospective land including the Rotgülden gold project, which hosts the previously producing Rotgülden gold mine, and the Kliening gold project. Active exploration and drilling programmes are currently underway at both these licences aimed at defining a maiden resource. Bonanza high grade gold, silver and copper results from these programmes have already been received, which underpin the expanding potential of the portfolio and regional continuations. The Company's longer term objective is to become a significant producer of precious metals primarily within Austria.