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Exploration Update – Soil Sampling Programme at Schonberg Project
Noricum Gold Limited (LSE:NMG), anAustrian focused gold exploration and development company, hsa said it has discovered multiple coherent gold and copper in-soil anomalies have been delineated for follow up work through soil sampling at its wholly owned Schonberg Precious Metals Projects located in south-central Austria.
Overview:
· Sampling results continue to confirm the prospectivity of the Schonberg licence and justify conducting drill programmes in the 2014 field season planned to comprise of:
o Approx. 3,000 metres of diamond drilling from three locations to test multiple, deeper, high grade copper targets
o A Reverse Circulation (‘RC’) drilling campaign to test the anomalies identified by the ongoing soil sampling programme
· Highest metal-in-soil values from the latest results for gold and copper are:
o 3.82 ppm Au and 7950 ppm Cu (0.79%)
o 1.31 ppm Au and 4450 ppm Cu (0.44%)
o 1.14 ppm Au and 4090 ppm Cu (0.40%)
· Assay results received from a further 717 samples taken from previously inaccessible areas in the Adlitzgraben area of the Schonberg licence as well as further infill and extensional sampling at the Brunngraben area
· A total of 1,726 samples have now been reported across the Schonberg licence area and infill sampling and extensional sampling at Weissenbachgraben are currently underway
· Previous results included metal-in-soil values for gold and copper respectively of 2.84 ppm Au and 8,640 ppm Cu (0.80%)
· Infill results confirm integrity and tenor of soil anomalism reported from previous soil sampling programmes
Noricum Gold Managing Director, Greg Kuenzel said, “We are delighted that the soil sampling programme continues to reaffirm our belief that Schonberg has the potential to host a significant deposit. These continued high grade results from sampling, combined with the ease of access, make Schonberg a very attractive target. We are almost at the end of the planned soil sampling programme that will have seen us take over 2,000 samples from a tightly spaced grid covering 2.5 km of strike. The results of this programme will be used to plan an RC drill campaign while a 3,000 metre diamond drill programme is in the final stages of planning, focused on testing multiple, deeper, high grade copper targets from three locations.”
Schonberg Precious Metals Project: Soil Sampling Results:
Soil sampling has been ongoing at Schonberg now for several months. Phase one sampling created a grid of samples that were on lines 50m apart, with samples every 15m on that line. The phase two sampling infilled the first phase and halved the line distance where anomalism was noted.
Previous exploration by the company has confirmed the presence of up to eight veins along a 3km strike and across the main mining districts within the licence area: Brunngraben, Weissenbachgraben and Adlitzgraben (from west to east). The former mining district of Tremmelberg is situated further east and it is thought to be the continuation of the ore bearing structures. Three of the known veins were the focus of historical mining and are considered the main ore veins. The veins are sub-parallel, generally trending northeast and steeply dipping to the northwest bearing.
The Schonberg area comprises mostly pine forests that are used for logging, some minor areas are used in agriculture but these are not within the sampling area. The soil profile at Schonberg is well developed and lends itself to the type of soil sampling completed.
The latest soil sampling results, which comprise a total of 717 samples, provide further infill sampling coverage over the Brunngraben and Weissenbachgraben areas as well as samples from a previously inaccessible area in the Adlitzgraben area, where the Company previously reported anomalous gold and silver values. The results provide further confirmation of the anomalism encountered in these areas and also extends these metalliferous veins. Highest metal-in-soil values from these latest results for gold and copper are 3.82 ppm and 7,950 ppm (0.79%) respectively. The Company is encouraged by the soil sample results which correlate well with results that it has previously reported for these areas.
The company believes that this anomalism is related to the mapped veins which are the subject of historical mining, and that it is also possible that further veins exist as evidenced by mineralisation being encountered away from known veins. More veins have been located outside the soil sampling area and are yet to be fully evaluated by ground crews by chip sampling. Some soil lines will be extended to cover these areas shortly.
Once the final results have been received, an RC drill programme will be designed to more specifically test the anomalies identified by the ongoing soil sampling programme during 2014.
