Noricum completes 2013 Rotgulden drill programme

PUBLISHED: 20 Nov 2013 @ 22:00 | Comments (0) |

Noricum Gold (LSE:NMG), an Austrian focused gold exploration and development company, have completed their 2013 underground drill programme at the previously producing gold mine within the Rotgulden Gold, Silver and Precious Metals Project and the commencement of phase two of its systematic soil sampling and geochemistry programme at the 100% owned Schonberg Gold and Precious Metals Project.

Highlights:

· Final drill cores from Rotgulden being logged and submitted for analysis over the coming weeks – all remaining holes intersected massive sulphide, stock-work and chalcopyrite mineralisation

· Excellent high grade gold and silver results to date including 3.9m @ 51.53 g/t Au, 237.77 g/t Ag and 2.69 % Cu

· All results from current and historic exploration will be modeled by H&S Consultants Pty Ltd (‘H&SC’) to prepare a Mineral Resource – expected in late Q1/ early Q2 2014

· Soil sampling at Schonberg is designed to test the extent of mineralisation present in veins mined historically

· Over 1,500 samples planned to test 8 veins over 3km strike length

· First phase soil sampling at Schonberg returned multiple significant anomalies, including 0.419ppm gold and 0.22% copper, from a first pass of 109 samples collected

· This soil sampling and geochemistry programme will assist in the design of a first phase reverse circulation (‘RC’) drill campaign at Schonberg

Noricum Gold Managing Director Greg Kuenzel said, “With the underground drill programme at our highly prospective Rotgulden Gold and Precious Metals Project now successfully completed, we look forward to building on the excellent high grade gold results announced to date as the drill core from the final holes is logged and assayed. Importantly, the final drill holes at locations RY and B encountered significant massive sulphide mineralisation including chalcopyrite. The results from this campaign, along with those received from channel sampling work and historical drilling performed both by the Company and by previous explorers, will be used by H&SC in the preparation of a Mineral Resource for the Rotgülden underground mine, which we expect to announce by late Q1/ early Q2 2014.”

“Having already identified an exciting exploration target at Schonberg, the results from our initial soil sampling work were very encouraging, confirming our belief that oxide resources may be present above the primary sulphide mineralisation. With this in mind, we have now commenced our follow up sampling programme at closer spacings to firm up these targets and I look forward to providing updates at the appropriate time.”

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Ltd. ADVFN Ltd does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.