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Exploration Update – Soil Sampling Programme at Schonberg Project
Noricum Gold Limited, the Austrian focused gold exploration and development company, has issued an update for its wholly owned Schonberg Precious Metals Projects located in south-central Austria.
1,811 samples in total have now been taken from four target areas defined across the Schonberg licence area. The latest samples reported below come from the central area of Weissenbachgraben.
Overview:
· Multiple coherent gold and copper in soil anomalies have been delineated and will continue to be refined through forthcoming work
· Highest metal-in-soil values from the latest results for gold (“Au”) and copper (“Cu”) are:
o 1.54 ppm Au and 899 ppm Cu (0.08%)
o 0.25 ppm Au and 2090 ppm Cu (0.20%)
· Previous results included metal-in-soil values of 2.84 ppm Au and 8,640 ppm Cu (0.80%), and 3.82 ppm Au and 7950 ppm Cu (0.79%)
· Final infill sampling to be completed at Weissenbachgraben and Adlitzgraben in the coming weeks
· Planning underway for approximately 3,000 metres of diamond drilling from three locations to test multiple, deeper, high grade copper targets
Noricum Gold Managing Director, Greg Kuenzel said, “As we approach the end of our soil sampling programme, we continue to be pleased with the results and look forward to testing the mineralisation at Schonberg at depth. We have now covered 2.5 km of strike with over 2,000 samples over a tightly spaced grid, and with only some infill sampling left to complete, we are now using the results to plan an RC drill programme which we will aim to conduct as soon as practicable. A 3,000 metre diamond drilling programme is also in the planning stages and the Company’s hydrogeology consultants are currently on site carrying out preparatory work. I look forward to providing further updates on our progress in due course.”
Schonberg Precious Metals Project: Soil Sampling Results:
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 main 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.
Soil sampling has been ongoing at Schonberg now for several months and the programme is nearing completion. A small proportion of infill sampling is all that remains to be completed at Weissenbachgraben, unless further unexpected anomalism is encountered in the coming work. This work includes some extensional lines into areas previously thought to not contain mineralisation.
The Company is of the opinion that this anomalism in soils is related to the mapped veins which were 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 through chip sampling. It is expected that some soil lines will be extended to cover these areas shortly.
Once the final results have been received, a reverse circulation drill programme will be designed to more specifically test the anomalies identified by the ongoing soil sampling programme during 2014.
