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Approval Granted for Drilling at Schonberg Precious Metals Project, Austria
Noricum Gold Limited, the Austrian focused gold exploration and development company, has been granted approval to conduct 3,000 metres of drilling at the Company’s wholly owned Schonberg Precious Metals Project in south-central Austria.
This follows a site visit and oral hearing convened by the Austrian mining authority earlier today. The Company plans to undertake up to a total of 5,000 metres of drilling at Schonberg and a second programme for an additional 2,000 metres is currently being submitted to the mining authority in Leoben for approval. The drill programme has been designed to test multiple high grade gold, silver and copper targets and mobilisation will commence on receipt of the Written Decree from the Mining Authority expected in the coming week. Noricum Gold is fully funded for this campaign and further updates will be provided in due course.
The Company’s recent soil sampling campaign at Schonberg produced highly encouraging results of up to 3.82 ppm Au and 8,640 ppm Cu (0.80%) and following full analysis of the programme, the Company anticipates that the campaign will consist of a blend of Reverse Circulation drilling designed primarily to test the anomalies identified by the soil sampling, and Diamond drilling designed to test the deeper massive sulphide mineralisation.
Noricum Gold Managing Director Greg Kuenzel said, “Schonberg has consistently delivered positive high grade results across the currently identified 3 km strike since soil sampling commenced 10 months ago, and we are very excited to test the area at depth in the near term. The project’s location has many benefits, including easy access via forestry roads and its lower altitude compared to other precious metals assets in the region, which means that we can conduct drilling throughout most of the year. This drill programme is intended to demonstrate the resource potential of this project and thus increase its tangible value, and I look forward to reporting on this maiden drill campaign in due course.”
