Noricum Gold starts first phase of Walchen exploration

Commences First Phase of Exploration at Walchen VMS Deposit, Austria

Noricum Gold Limited, the Austrian focused precious and base metal exploration and development company, has announced that the first stage of exploration work at the Walchen VMS deposit in Austria, acquired in late March 2015, is now underway.

Highlights:

· Noricum management and field staff have been collating historical data and undertook a site visit last week
· This has triggered detailed planning for first pass exploration comprising mapping, sampling and ground based geophysics, followed by drill targeting
· First phase work programme is fully funded following recent placings raising £500,000
· The Company aims to build on the prospectivity highlighted by historic mining and exploration data

o The VMS deposit comprises two main ore horizons with a horizontal extension of 3-4 km with each having an average thickness of 0.5-4 m
o The average grade of the Walchen ore mined during 1942 was 1.71% Cu, 3.23% Zn, 2.48% Pb, 83g/t Ag, 0.5g/t Au
o Additional recent assays have shown that the pyrite and pyrrhotite in the ore can carry nickel and cobalt

Noricum Gold Managing Director Greg Kuenzel said, “Our team spent several days in and around Walchen last week meeting with our local consultants, collating historical data as well as spending time on site. Walchen is understood to be one of the largest and most promising polymetallic ore deposits in Austria and we look forward to commencing field work over the coming weeks.”

Walchen Site Visit

Due to the long history of mining at Walchen a significant amount of data related to previous mining and exploration activities exists. Walchen has also been the subject of numerous academic studies. Noricum staff have been collecting and collating this information to use as the basis for initial exploration work, and consequently construct a geological model of deposit and the surrounding area. The site visit consisted of visiting various adits, viewing outcropping mineralisation, taking a number of samples and identifying areas of focus for the first phase of exploration.

More recent studies of the deposit, and strike extensions of the mineralisation have highlighted good grade continuity.

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