Business
?2m Raised to Develop Rotgulden Project, Austria
?2m Raised to Develop Rotgulden Project, Austria.
About this update from Empire Metals Limited
[{"type":"text","content":"\n \nRNS Number : 6007P Noricum Gold Limited 03 October 2013 \n \n\nNoricum Gold Limited / EPIC: NMG / Sector: Natural Resources\n3 October 2013\nNoricum Gold Limited ('Noricum Gold' or 'the Company')\nRaises £2 million to Develop Highly Prospective Rotgulden Gold & Precious Metals Project, Austria\n \nNoricum Gold Limited, the Austrian focused gold exploration and development Company, is pleased to announce that it has raised £2 million (before expenses) by way of an oversubscribed placing of 200,000,000 new ordinary shares of no par value in the capital of the Company ('the Placing Shares'), with new and existing shareholders in the Company at a price of 1 pence per Placing Share ('the Placing'). The funds will be used to advance the Company's exploration programme across its highly prospective Austrian gold and precious metal assets, with a particular focus on the Company's 100% ownedRotgülden gold and precious metal licence.\n \nNoricum commenced its current year drill programme at Rotgulden in August. Results to date have been extremely positive with significant high grade gold ('Au'), silver ('Ag') and copper ('Cu') intercepts. The highlights being:\n \n· RZ04 - 6m @ 17.4 g/t Au and 27.8 g/t Ag from 9m\n· RZ04 - 2m @ 41.4 g/t Au and 198 g/t Ag as well as 3.96% copper ('Cu') from 20m\n· XB01 - 3.9m @ 51.53 g/t Au, 237.77 g/t Ag and 2.69% Cu from 4.7m\no Including 1.1m @ 181 g/t Au, 807 g/t Ag and 8.75% Cu\n· RZ01 - 3.2m @ 5.36 g/t Au, 17.17 g/t Ag from 12m\n· RZ02 - 7.2m @ 2.13 g/t Au, 12.16 g/t Ag from 12.8m\no Including 1.6m @5.51 g/t Au and 15.5 g/t Ag \n· RZ05 - 1.2m @3.69 g/t Au, 27.2 g/t Ag from 11.8m\n \nDrilling has been progressing well and the drill rig continues to test some deeper targets at location C as well as some further exploration at targets along strike.\n \nNoricum Gold Managing Director Greg Kuenzel said, \"We have had a fantastic start to this year's drilling campaign with the first five holes returning significant high grade mineralisation at our Rotgülden project. These new funds will not only provide us with a secure platform from which to plan our 2014 work programme, but will also allow us to accelerate the current drilling campaign underground as we...