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Are they golden?
Noricum Gold Limited, the Austrian focused gold exploration and development company, have issued an update for its wholly owned Rotgulden Gold and Precious Metals Projects located in south-central Austria.
Overview:
· Approval granted by Mining Authority for a 2,500 metre surface diamond drilling programme at the Altenberg target area of the Rotgulden licence
· Approval granted through to November 2018
· Sampling and mapping has been conducted to date at Altenberg with rock chip samples presenting values of up to 86.4 g/t Au, 1,011g/t Ag and 4.49% Cu
· Aerial survey undertaken in 2012 detected multiple targets in the Altenberg area
Altenberg Target – Historical Results:
The Altenberg Valley is located 2.7 km to the south-west of the previously operating Rotgülden mine. The Altenberg target is a continuation of the mineralised strike from and above the Rotgülden mine. This area had seen very little modern day exploration although there are several short historic adits which have allowed Noricum personnel to improve their knowledge of the mineralisation via mapping and sampling.
Previous work undertaken by the Company included a mapping and sampling programme where 92 samples were taken from surface as well as the three open adits.
Eight samples from the 92 sample batch returned grades higher than 10g/t Au, 22 samples returned grades higher than 3g/t Au, and a total of 41 samples were above 1g/t Au. Multi-element samples returned values of up to 1,011 g/t silver (‘Ag’) and 4.49% copper (‘Cu’). Sample NA-8 also returned grades of 10.9% lead and 3.66% zinc. A selection of the best results from the historic sampling are included in the table below.
The prospectivity of the area was confirmed by the results of the Aerial Electromagnetic and Magnetic survey undertaken in 2012.
Drill Programme:
The approved drill programme includes 2,500 metres of diamond drilling from 3 locations and is aimed at testing the mineralisation at depth. The timing of the proposed works is still to be determined, however, due to the logistical considerations, susceptibility to weather and requirement for a helicopter supported drill programme, it is unlikely that the work will commence until 2015.
