logo-loader
viewNoricum Gold Ltd

Noricum Gold restarts Schonberg soil sampling programme

austria_535df433a8892.jpg

Noricum Gold (LON:NMG) said it has restarted its soil sampling and geochemistry programme at its Schonberg gold and precious metals project in Austria.

The campaign was halted in late December due to the weather.

It was designed to test the “extent and continuity” of the mineralisation present at surface in the eight parallel veins that are part of a three kilometre structural corridor.

The plan is to take up to 1,000 close space follow-up samples from the Weissenbachgraben and Adlitzgraben areas, while Noricum plans some infill work at nearby Brunngraben.

High-grade gold and copper have already been identified from 500 samples at Brunngraben, including 2.48 parts per million (ppm) of gold and 8,640ppm, or 0.86% copper.

The results of this programme will be used to design a first-phase drill campaign at Schonberg.

Managing director Greg Kuenzel said: "We're pleased to report that our soil sampling programme at Schonberg has now recommenced.

“The programme, which was started late last year, identified a number of high order gold and copper anomalies, emphasising the prospectivity of this project.

“Having already tested Brunngraben, we will now collect up to a further 1,000 samples, mostly from the Weissenbachgraben and Adlitzgraben areas.  Subject to planning consents, we would look to drill this target area during the summer months.

“There is the possibility to re-configure our current budget to allow for some initial holes at Schonberg, although a more comprehensive drilling campaign may be considered if the justification and value accretive potential was strong enough.

“Elsewhere in our portfolio of Austrian projects, we are currently compiling a resource at the previously producing Rotgulden gold project based on the high grade drilling results gained in 2014."

Quick facts: Noricum Gold Ltd

Price: 1.3701 GBX

AIM:GEO
Market: AIM
Market Cap: £1.83 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Global Energy Metals in London discussing plans to develop cobalt projects...

Global Energy Metals Corporation (CVE:GEMC) (OTCMKTS:GBLEF) CEO Mitchell Smith caught up with Proactive's Andrew Scott while in London to update shareholders on progress within its portfolio of cobalt and battery metal projects. Smith says the firm's well-placed to take advantage of the...

1 hour, 16 minutes ago

2 min read