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Noricum Gold PLC hurries to get Bolnisi production

A second drill rig has been brought on site with the current programme now expected to be completed by the end of the month
Noricum Gold PLC hurries to get Bolnisi production
Noricum has also bought an Induced Polarisation (IP) unit to carry out a survey over the licence

Noricum Gold (LON:NMG) has stepped up the pace to get its Kvemo Bolnisi deposit in Georgia into production this year.

A second drill rig has been brought on site with the current programme now expected to be completed by the end of the month.

Once that programme is finished, trenching and sampling will start at a second target, Tsitel Sopeli, to follow a recently completed magnetic survey of the known mineralisation.

Noricum has also bought an Induced Polarisation (IP) unit to carry out a survey over the entire 861 sq km Bolnisi licence area, which includes the two targets. 

Greg Kuenzel, managing director,  said, "This update demonstrates the breadth and speed of both the activities underway at our two priority gold ore production targets, and also our ongoing work to continually assess the prospectivity of the full licence area. 

“Having recently raised £1mln, which is sufficient to see us through to production in Q3 2016, we intend to firstly produce gold ore from Kvemo Bolnisi where drilling is currently underway, and then at Tsitel Sopeli. 

“In tandem, we will conduct an IP survey which will allow us to detect mineralisation at far greater depth than has previously been possible.”

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