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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 further sampling results from its wholly owned Schonberg Precious Metals Project located in south-central Austria where previous exploration has identified up to eight veins along a 3km strike.
A total of 2,164 samples have now been taken from four target areas defined across the Schonberg licence area bringing to an end this phase of the Company’s exploration programme. The latest samples reported below include further infilling at the Weissenbachgraben and Adlitzgraben target areas.
Overview:
· Continued refinement of multiple coherent gold and copper in soil anomalies
· Highest metal-in-soil values from the latest results for gold (‘Au’) and copper (‘Cu’) are:
1.54 ppm Au and 899 ppm Cu (0.08%)
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 7,950 ppm Cu (0.79%)
· Company believes soil anomalism identified relates to the mapped veins which were the subject of historical mining
· Austrian Mining Authority approval for initial 3,000 metre drill programme expected in the near term with planning underway for additional 2,000 metres of drilling
Noricum Gold Managing Director, Greg Kuenzel said, “Having now finalised a very successful and extensive soil sampling programme over the Schonberg licence, we are preparing to commence our initial 3,000 metre drill programme. This was initially designed purely as a diamond drilling programme to test the deeper massive sulphide targets at Schonberg, however, to enable us to improve our knowledge of the overall system we will now drill a combination of Diamond and Reverse Circulation (‘RC’) holes with the RC being used to target the anomalies identified as a result of the geochemistry work. A further 2,000 metres of drilling is currently being planned and will be submitted to the Mining Authority in the coming weeks. 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.
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.
