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Noricum Gold Limited (LSE:NMG), the Austrian focused gold exploration and development company, has provided an update on its 2013 work programme at the Company’s 100% owned Rotgülden Gold and Precious Metals Project , which is currently focused on defining the extent of mineralisation already identified at the previously producing mine, one of four targets delineated to date.
Highlights:
– Results continue to reinforce the high grade nature and excellent prospectivity of Rotgülden
– Mineralisation extended at depth and up dip at previously producing mine following assay results from two deeper drill holes at position C on the deposit and further channel sampling
– Assay results from drill hole C7 included:
2m @ 3.59 g/t gold (‘Au’) and 3.52 g/t silver (‘Ag’), including 1m @ 6.58 g/t Au from 98-99m
– Assay results from drill hole C9 included:
5m @ 2.12 g/t Au and 16.88 g/t Ag from 35m
– Visible gold intersected in C9 – assays from this deeper section of core pending
-Ore body drilled to depth of 150m below the initial mineralisation and remains open
-Drilling on-going underground
– High grades including two samples up to 36.8 g/t Au and 18.15g/t Au, 642g/t Ag and 3.25% Cu returned from channel sampling
-Sampling results improving the continuity of the mineralisation and thus the scope of the mineralised envelope
Noricum Gold Managing Director Greg Kuenzel said, “The results are extremely encouraging and provide us with confirmation that the known mineralisation continues at depth and remains open, in line with our geological model. At the same time, we are also increasing the known extents up dip from the chalcopyrite cavern following the drilling from RY and the channel sampling which returned grades of up to 18.15g/t Au, 642g/t Ag and 3.25% Cu. Importantly, assay results from samples where there was visible gold are outstanding, so we look forward to further positives in the near future.
“The previously producing mine at our Rotgülden Gold and Precious Metals Project benefits from an extensive amount of historic work. As drilling advances at this target to the north of the licence area, we have a number of additional initiatives underway focused on testing and qualifying historic work to further bolster our resource database. This work will be modelled alongside results from our on-going drill programme, which to date has returned bonanza high grade gold up to 3.9m @ 51.53 g/t Au, 237.77 g/t Ag and 2.69 % Cu, as we work towards publishing an initial high grade resource for this target area in Q1 or early Q2 2014.”
Drilling Update:
Assay results from the first two drill holes at position C have been received by the Company and included 2m @ 3.59 g/t gold (‘Au’) and 3.52 g/t silver (‘Ag’) (including 1m @ 6.58 g/t Au from 98-99m) from C7 and 5m @ 2.12 g/t Au and 16.88 g/t Ag from C9. These deeper exploration holes, circa 150 metres, have been designed to provide a better understanding of the continuation of the mineralisation from the known ore body in and around the existing underground workings. These results are very encouraging, indicating that the mineralisation extends beyond the current known zones that are the focus of the on-going resource drilling, and will assist the Company in planning development work as part of next year’s work programme at the Rotgülden underground mine.
On visual inspection of the drill core it was noticed that drill hole C9 included visible free gold. The following photographs were taken from an intersection at approximately 113.6 metres. Assays from this section of core are still outstanding. The presence of visible gold in deeper exploration drilling is very encouraging for the Company and further enforces the need to test the deeper reaches of the orebody.
