LONDON (ShareCast) - Shares in Noricum Gold leapt on Friday in the wake of encouraging results from the start of its drilling programme at the Rotgulden mine in Austria.

It began a 15-hole underground drilling programme earlier this week and yesterday completed its first hole which reached a depth of 57m.

The company said: “Visual inspection indicates that an intersection of approximately 20 metres includes both stockwork and massive sulphide type mineralisation.”

The core had been cut and sent to the laboratory with the results expected in the coming weeks, it said.

Norcium Gold Managing Director Greg Kuenzel said: “These initial indications from the first hole of our drill programme are encouraging.”

Shares in the company were 9% higher at 1.18p at 08:55 on Thursday.

TB

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