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Noricum to step up drilling programme

By Robert Tyerman | Saturday 23 August 2014


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Establishing ‘an exciting new gold province’ in the Austrian provinces of Salzburg and Carinthia is the declared goal of AIM-quoted Noricum Gold (NMG). The company has won approval from the authorities for a 3,000-metre drilling campaign at Schonberg, one of its key projects in the south and west of the country. Based in the British Virgin Islands and currently out of favour with investors, the company has also applied for permission to drill an additional 2,000 metres at Schonberg, where recent rock chip sampling showed gold mineralisation of up to 3.82 parts per million, with 0.8 per cent copper.


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