Noricum Gold Limited (LSE:NMG), released positive results from a systematic soil sampling and geochemistry programme from its 100% owned Schonberg Gold and Precious Metals Project in Austria. The program was designed to test the extent and continuity of the mineralisation present at surface in the eight parallel veins previously identified as part of a structural corridor over 3km of strike.
Highlights from the programme include:
500 samples taken from Brunngraben area, following positive results from previous soil sampling – results from this batch confirm the previously producing Schonberg project as a high priority exploration target
Sampling returned multiple significant high-order anomalies, including gold (‘Au’) to 2.84ppm Au and copper (‘Cu’) to 8,640ppm Cu (0.86%)
Close space follow up of 1,000 plus additional samples remain to be collected over the coming months
The results of this programme will be used to design a first phase drill campaign at Schonberg
Access gained to parts of the historic mine, where historical assays of the Fuchsstollen mine ore returned grades of 7g/t Au, 39g/t Ag and 3.18% Cu
Noricum Gold Managing Director Greg Kuenzel said
Schonberg is shaping up to be a priority target for the Company. These are very high grade results for soil sampling and are very encouraging. The detailed geological inspection indicates a copper rich ore occurring in multiple parallel lodes in close proximity to one another. As the Schonberg area benefits from having excellent access with logging tracks prevalent through the low lying hills, the cost of exploration is reduced and importantly can be undertaken almost all year round. With this in mind, we will endeavor to complete the soil sampling early in the field season.
The exciting results delineated from Schonberg to date provide us with strong justification to look at implementing an initial drill programme over the summer months, subject to planning consents. More comprehensive drilling would be subject to funding. This would be conducted in conjunction with a further phase of drilling at multiple targets across our flagship Rotgulden Gold Project, also in Austria, which will aim to both increase the initial resource following its publication in H1 2014, and to expand our knowledge of the high grade gold areas identified along the 8km strike running through the tenure. These regional zones have not previously been drilled and have significant value upside potential with bonanza grades of up to 86.4 g/t Au received from rock chip sampling. With this in mind, we have an active few months ahead and we are confident that this diverse exploration campaign will continue to improve our position as an Austrian focused gold explorer.