Australian gold producer, Norseman Gold (AIM: NGL), climbed almost 2% after announcing preliminary results from ongoing exploration activities. Norseman is currently drilling on the Lady Miller North, Mararoa North, Slippers and Groundlark prospects.
33 holes into Lady Miller North have been completed, and focused on testing an 800 metre northern strike of the Lady Miller open pit. Assays from the first four holes received included 5 metres grading 1.2 grams per tonne gold from 25 metres, 21 metres grading 2.4 grams per tonne gold from 107 metres.
Meanwhile at Mararoa North, a 29 reverse circulation program testing a 1200 metre strike of the Mararoa Reef is also complete. Assays received from the first hole returned 2 metres grading 6.3 grams per tonne gold from 56 metres. Norseman said the initial result was "pleasing" as it confirmed the presence of untested near surface reef.
23 holes drilled to test the extent of near surface gold at Slippers are also complete. Assays from the first four holes included 4 metres grading 1.8 grams per tonne gold from 86 metres, and 10 metres grading 3.8 grams per tonne gold from 50 metres.
Finally, at Groundlard, which lies adjacent to the Mararoa Reef, 6 holes were completed, with assays from all holes returned. Highlights included 6 metres grading 1.2 grams per tonne gold from 30 metres and 5 metres grading 1.5 grams per tonne gold from 25 metres.
Additional results will be released as assays return from the labs, and Norseman also confirmed that it would update its resource statements once all the data was added.