Hot Features
Premium
Level up your trading with our powerful tools and real-time insights all in one place.
Noricum Gold (LSE:NMG), the Austrian focused gold exploration and development company, has announced further significant high grade gold and silver mineralisation from its 2013 underground drill programme at the Company’s 100% owned Rotgulden Gold and Precious Metals Project (‘Rotgulden’).
Highlights:
· Significant gold (‘Au’), silver (‘Ag’) and copper (‘Cu’) results received from a further seven drill holes including:
o XB03 – 21m @ 4.04 g/t Au, 23.86 g/t Ag and 0.16 % Cu from 0m
§ including 3m @ 9.14 g/t Au, 42.8 g/t Ag and 0.17 % Cu from 12m
§ and 2m @ 12.45 g/t Au, 33.9 g/t Ag and 0.12 % Cu from 18m
o RZ06 – 14m @ 1.98 g/t Au, 20.02 g/t Ag and 0.14 % Cu from 5m
§ Including 2m @ 7.78 g/t Au, 8.01 g/t Ag and 0.24 % Cu from 16m
o C09 – 1m @ 9.93 g/t Au, 0.2 g/t Ag from 113m (partial results announced on 15 November 2013)
· Drilling is focused on modelling a resource for the previously producing mine, one of four targets identified to date within the project area
· Additional results from the remaining 13 holes expected within the coming weeks
Noricum Gold’s Managing Director, Greg Kuenzel said, “These further fantastic results, which also include some good widths, continue to demonstrate the very high grade nature of the gold, silver and copper mineralisation at the previously producing mine within the Rotgulden tenure. We look forward to receiving the results from the remaining 13 drill holes which are currently undergoing assay testing at the lab. Once received, we will be in a position to complete the modeling of a maiden, high grade resource for this first of four target areas within the project area.
“With this in mind, we expect H1 2014 to be active in terms of news flow and with work at Schonberg ongoing and the first batch of soil samples already shipped for testing, we look forward to updating the market regarding our progress across our Austrian precious metals portfolio over the coming months.”
Drilling has now been completed at Rotgulden and the focus has turned to the mechanics of deriving a resource from the results of drilling conducted to date.
Work on the bulk density model has been ongoing over the past few weeks as the processing of the drill core is completed. This entails calculating the specific gravity of a variety of rock types which will be added to the geological model once it has been updated with the most recent drilling information. QAQC (quality assurance and quality control) standards are being placed into assay jobs to verify laboratory precision and the laboratory based standards. This work is integral in the resource estimation process.
As announced on 15 November 2013, on visual inspection of the drill core it was noticed that drill hole C9 included visible free gold. With this in mind, the company is likely to submit some sections of massive sulphides from the recent drilling for assaying by screen fire. This method of analysis is expected to better represent samples with any coarse gold as has been noted in the petrographic work completed by the Company.
Results are still outstanding from the final drill hole at C and RZ, the drilling from RY and the final drill holes from position B. The results from these drill holes are expected in the coming weeks.
