Noricum Gold (LON:NMG) has completed its latest three drill holes under the Alps in Austria, with grab samples indicating more high grades.
The drilling was across two targets, Weissenbachgraben and Brunngraben, at Schonberg. All three holes reached their target depths.
After ground problems initially with the first hole at Weissenbachgraben, drilling and conditions has improved significantly, it said, and most of the core has now been logged, cut and sent to the lab.
A decision on further drilling will be based on the results and Noricum’s managing director Greg Kuenzel said it will take a prudent approach given current market conditions.
Underground samples from the historic Brandegger adit included up to 33.8 g/t of gold, 31.1 g/t of silver and 8.14% copper, he added.
“The assay results from our recent investigation of a previously collapsed adit have underpinned the prospectivity and high grade nature of the Schonberg license area and have now been inserted into our geological model."