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Interim Results
Noricum Gold Limited, the European focused base and precious metals exploration and development company, has announce its interim results for the six months ended 30 June 2015.
Highlights
· Work during the period culminated in the transformational acquisition of 50% of the Bolnisi Copper & Gold Project in Georgia, positioning Noricum as a major resource developer
o Total non-JORC resources of 980,000 tonnes of contained copper; 6.6 million ounces of gold; and 22 million ounces of silver
o Forthcoming focus on converting these to JORC standards and on identifying new high grade target areas to build on current resource providing significant news flow potential
· An additional project in Austria, the Walchen VMS Project, acquired at low cost with recent work reiterating its strong prospectivity
· Strengthened Board with Martyn Churchouse appointed as Executive Director
· Loss for the six months ended 30 June 2015 of £271,422 (2014: £315,467), which is in line with budget
Noricum Gold, Managing Director, Greg Kuenzel said, “2015 has been a transformational year so far for Noricum. In March we completed the acquisition of the Walchen VMS project in Austria. This project had been on our radar for quite a while and complements the existing projects in Austria. Then, post period end, we announced the acquisition of the Bolnisi Copper & Gold Project in the Republic of Georgia. This acquisition was the result of many months of hard work by the management team and has transformed Noricum from a pure grass roots explorer into a major resource developer.
“With exploration work ongoing at Walchen and work commencing on two priority targets within the Bolnisi license area, the Company is positioning itself for high volume news flow whilst it undergoes rapid growth over the next 12 months. We look forward to providing further updates as the results of the various work programmes currently underway come to fruition.”
