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Noricum Gold Ltd.
Summary
| Project: | Bolnisi | |
|---|---|---|
| Deposit: | Kvemo Bolnisi | |
| Location: | Georgia | |
| Commodities: | Gold | |
| Date: | 8/11/2016 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 11-8-2016: Noricum Gold Ltd. announces an Exploration/Drilling Update report for its Kvemo Bolnisi deposit at the Bolnisi project. Drilling results incl. 23.25m @ 2.82% Cu, 0.17ppm Au from 89.75m. Noricum Gold Limited, the European focused base and precio | |
| Resources: | (Historic estimates only - not mentioned in this report) | |
| CP/QP: | [Overall Report]: James Royall (Not stated) | |
| ABSTRACT: | Noricum Gold Limited, the European focused base and precious metals resource development company, is pleased to announce significant new copper and gold intersections from ongoing drilling at the Kvemo Bolnisi Gold & Copper Project, one of 17 targets that have been identified by the Company across the 861 km2 Bolnisi Project (‘Bolnisi’ or the ‘Project’) in the Republic of Georgia. The Company is also pleased to announce that it has signed a Memorandum of Understanding (‘MoU’) with its local partner’s production companies, JSC RMG Gold and JSC RMG Copper (together ‘RMG’), outlining mining and processing arrangements for the future production of precious and base metal ores mined at Bolnisi. Noricum Gold’s Executive Director Martyn Churchouse said, “The recent drill results, when viewed in conjunction with historic drill work and our drilling of the gold bearing oxides (previously referred to as secondary quartzite mineralisation), highlight that the opportunity at Kvemo Bolnisi could be very significant indeed. “Considering that the new discoveries have combined widths of up to 100 metres and have demonstrated the strong potential to be increased further, our copper-gold target has grown by a significant factor. This newly discovered gold and copper mineralisation appears to all be open-pittable and our initial assessment indicates that both the gold and copper can be processed and recovered together in the future.” | |
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