Noricum Gold has completed the first six reverse circulation drill holes on time and on budget at its Schonberg project in Austria.
Drilling commenced on 16 September at Weissenbachgraben, one of three main target areas at Schonberg, and with the first six holes completed, the rig is now being modified to drill the first of three deeper holes at the same target area.
Samples from the first round of drilling are currently being prepared for despatch to the laboratory for examination, but Noricum revealed that drilling has intersected sulphides and zones of obvious alteration, while some problems were encountered passing through highly weathered zones adjacent to structures, which is indicative of mineralisation.
The Schonberg Gold and Precious Metals Project covers a total of 37 square kilometres (km) and is located some 100km due east of the company's Rotgülden Gold and Precious Metals Project.
Shares in Noricum were up 15% at 0.61p in mid-morning trading.
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