Business
Commencement of Infill Drilling at Kvemo Bolnisi
Commencement of Infill Drilling at Kvemo Bolnisi.
About this update from Empire Metals Limited
[{"type":"text","content":"\n \nRNS Number : 0526Y Noricum Gold Limited 12 May 2016 \n\nNoricum Gold Limited / EPIC: NMG / Sector: Natural Resources\n12 May 2016\nNoricum Gold Limited ('Noricum Gold' or 'the Company')\nCommencement of Infill Drilling at Kvemo Bolnisi\n \nNoricum Gold Limited, the European focused base and precious metals resource development company, is pleased to announce that work is progressing according to schedule on the first of its gold starter pit operations focused on outcropping gold mineralisation at the Kvemo Bolnisi target, which is located within the 861 sq km Bolnisi Copper-Gold Project in Georgia (the 'Project'). \n \nResource estimation and pit optimisation work at the Company's first starter pit target, Kvemo Bolnisi, is well underway with final results expected in the coming weeks. In order to expedite the process, work is being focused on the high grade zone of the starter pit from which in house modeling is indicating an initial mineable target of circa 50,000 tonnes. \n \nInfill drilling at Kvemo Bolnisi has commenced today and is expected to increase the size of the mineable resource as well as test additional secondary quartzite pods identified in close proximity to the initial planned ore production area. This drilling is from surface down to approximately 10 metres so is relatively fast and inexpensive. \n \nKvemo Bolnisi has been specifically chosen for initial development and production as it provides an ideal opportunity to demonstrate that:\n \n· Historic Soviet style resources at the Project can be converted into a resource in accordance with an internationally recognised standard; and\n· The Company can, with the assistance of its local partner, establish a toll treatment agreement that will allow for the processing of the Kvemo Bolnisi secondary quartzite ores which will in turn establish the general terms for future treatment of other ores both existing and those newly discovered by Noricum Gold.\n \nNoricum Gold Managing Director Greg Kuenzel said, \"I am pleased to report that the activities required ahead of initial production from our first starter pit are continuing on budget and in accordance with our timetable. We have now commenced infill drilling, the results of which will be used to expand the resource curre...