Empire Metals Regulatory News (EEE)

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Noricum Gold Limited / EPIC: NMG / Sector: Natural Resources

20 November 2013

Noricum Gold Limited ('Noricum Gold' or 'the Company')

Completion of 2013 Underground Drill Programme and Commencement of Second Phase Soil Sampling at Schonberg.

Noricum Gold, the Austrian focused gold exploration and development company, announces the completion of its 2013 underground drill programme at the previously producing gold mine within the Rotgulden Gold, Silver and Precious Metals Project ('Rotgulden') and the commencement of phase two of its systematic soil sampling and geochemistry programme at the 100% owned Schonberg Gold and Precious Metals Project.

Highlights

· Final drill cores from Rotgulden being logged and submitted for analysis over the coming weeks - all remaining holes intersected massive sulphide, stock-work and chalcopyrite mineralisation

· Excellent high grade gold and silver results to date including 3.9m @ 51.53 g/t Au, 237.77 g/t Ag and 2.69 % Cu

· All results from current and historic exploration will be modeled by H&S Consultants Pty Ltd ('H&SC') to prepare a Mineral Resource - expected in late Q1/ early Q2 2014

· Soil sampling at Schonberg is designed to test the extent of mineralisation present in veins mined historically

· Over 1,500 samples planned to test 8 veins over 3km strike length

· First phase soil sampling at Schonberg returned multiple significant anomalies, including 0.419ppm gold and 0.22% copper, from a first pass of 109 samples collected

· This soil sampling and geochemistry programme will assist in the design of a first phase reverse circulation ('RC') drill campaign at Schonberg

Noricum Gold Managing Director Greg Kuenzel said, "With the underground drill programme at our highly prospective Rotgulden Gold and Precious Metals Project now successfully completed, we look forward to building on the excellent high grade gold results announced to date as the drill core from the final holes is logged and assayed. Importantly, the final drill holes at locations RY and B encountered significant massive sulphide mineralisation including chalcopyrite. The results from this campaign, along with those received from channel sampling work and historical drilling performed both by the Company and by previous explorers, will be used by H&SC in the preparation of a Mineral Resource for the Rotgülden underground mine, which we expect to announce by late Q1/ early Q2 2014."

"Having already identified an exciting exploration target at Schonberg, the results from our initial soil sampling work were very encouraging, confirming our belief that oxide resources may be present above the primary sulphide mineralisation. With this in mind, we have now commenced our follow up sampling programme at closer spacings to firm up these targets and I look forward to providing updates at the appropriate time."

Rotgulden Drilling Update

The Company has now completed its underground drill programme at the Rotgulden Underground Mine. A total of 25 drill holes have been completed with the results of seven of these already released to market. The final drill cores are in the process of being logged and cut for assay. Specific gravity measurements are being undertaken prior to the core being sent to the laboratory, which has caused a minor deferment in the publication of the results. We would expect the assays to be received over the coming six to eight weeks.

Image 1: Drill hole RY4 -Massive sulphide intersection from 28 metres to 32 metres (total mineralised intersection noted from visual review over 10 metres) 

Image 2: Drill hole BX4 - Massive sulphide intersection from 5 metres to 14 metres (total mineralised intersection noted from visual review approx 20 metres)

Image 3: Drill core being marked for specific gravity testing

Once all results have been received and input into the Company's model, work will begin on planning for the Company's 2014 underground programme which will likely include further underground development.

Schonberg Precious Metals Project

Background

The Schonberg Gold and Precious Metals Project covers a total of 37 sq km and is located approximately 30km southwest of Leoben, Austria and 100km due east of the Company's Rotgülden Gold and Precious Metals Project. These licences are centered on the towns of Knittelfeld and Flatschach. The latter is part of an historic copper mining zone.

The Company has confirmed the presence of an attractive exploration target with up to eight veins across the main mining districts within the licence area: Brunngraben, Weissenbachgraben and Adlitzgraben (from west to east). The former mining district of Tremmelberg is situated further east and it is thought to be the continuation of the ore bearing structures. Three of the known veins were the main focus of historical mining and are considered the main ore veins. The veins are sub-parallel, generally trending northeast and steeply dipping to the northwest. These are the initial targets for the exploration work just completed and the next exploration phase soon to begin.

Second Phase Soil Sampling

The Company has commenced a second phase of soil sampling work at Schonberg. This follows positive results from Phase 1 which was comprised of 109 soil samples from two areas, Brunngraben and Weissenbachgraben, which derived some significant anomalies. Gold and copper anomalism at Brunngraben up to 0.419ppm Au and 0.22%Cu was noted, which led the Company to plan a secondary campaign.

This second soil sampling programme has now commenced and is expected to comprise around 1,500 sample locations on 15m by 50m spacing (refer Figure 1) over the main areas of interest. Brunngraben will be completed first. The main veins defined by mapping are represented and the anomalous results are concentrated around these main veins. This further sampling is expected to better define the anomalism and thus entail better decision making as exploration efforts move towards drilling.

Figure 1 - Results from first phase overlaid on the vein structures (in yellow). Second phase lines numbered 1 to 27.

Competent Person Statement

The information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Jeremy Whybrow, who is a Member of The Australasian Institute of Mining and Metallurgy and is a director of the Company.

Mr. Whybrow has sufficient experience, relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Whybrow has reviewed this announcement and consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

**ENDS**

For further information please visit www.noricumgold.com or contact: