Business
Operations Update - Bolnisi Project in Georgia
Operations Update - Bolnisi Project in Georgia.
About this update from Empire Metals Limited
[{"type":"text","content":"\n \nRNS Number : 4648R Noricum Gold Limited 09 March 2016 \n\nNoricum Gold Limited / EPIC: NMG / Sector: Natural Resources\n9 March 2016\nNoricum Gold Limited ('Noricum Gold' or 'the Company')\nOperations Update\n \nNoricum Gold Limited, the European focused base and precious metals resource development company, is pleased to provide an update on its activities at multiple, near term production targets identified at the 861 km2 Bolnisi Project located in Georgia ('Bolnisi' or the 'Project'). These include the Kvemo Bolnisi target, from which the Company plans to commence first gold ore production in Q3 2016 and where the Company recently made a copper discovery, and the Tsitel Sopeli target, which represents the Company's second gold ore production target. \n \nHighlights\n \n· Drilling and mine planning continues at Kvemo Bolnisi ahead of first gold production planned for Q3 2016\no Second drill rig brought on site - campaign expected to be completed by end of March 2016\no New capture satellite imagery purchased to aid planning and scheduling \n· Planning for trenching and drilling at Tsitel Sopeli at final stages - work will commence once the drilling at Kvemo Bolnisi is completed\n· An initial detailed ground magnetic survey over the surficial expression of mineralisation at Tsitel Sopeli has been completed to aid production planning\n· Acquisition of Induced Polarisation ('IP') unit to expand regional development and increase new discovery potential across the entire licence area\n \nNoricum Gold Managing Director Greg Kuenzel said, \"This update demonstrates the breadth and speed of both the activities underway at our two priority gold ore production targets, and also our ongoing work to continually assess the prospectivity of the full licence area. Having recently raised £1 million which is sufficient to see us through to production in Q3 2016, we intend to firstly produce gold ore from Kvemo Bolnisi where drilling is currently underway, and then at Tsitel Sopeli. In tandem, we will conduct an IP survey which will allow us to detect mineralisation at far greater depth than has previously been possible which we are confident will highlight new areas of mineralisa...