Sovereign Gold Co Ltd (ASX:SOC) is an Australian-based specialist gold exploration company. Sovereign Gold has a portfolio of quality tenements located in Eastern Australia where there is known potential for the occurrence of Intrusion-Related Gold Systems (IRGS). Sovereign Gold has a highly prospective tenement package covering the Rocky River-Uralla Goldfield, 21km southwest of Armidale, NSW, Australia. Sovereign owns the recent Mt Adrah Hobbs IRGS discovery south-east of Wagga Wagga, NSW.
Drill hole GHD005 was completed earlier than expected, at 333m, as the geological sequence which was encountered prompted a review of the historic drill collar survey data. As a result of that review it was determined that the inherited historic database had some minor survey errors/omissions with respect to nearby historical drill holes (now rectified).
Sovereign Gold Company Limited (Sovereign Gold) (ASX:SOC) commissioned an independent review by Geosun Pty Ltd of exploration work completed to date, together with an updated geological computer model of Hobbs Pipe 1.
Sovereign Gold Company Limited (ASX:SOC) is pleased to present the remaining assays for hole GHD004. Similar grades to previous drill hole GHD001 were encountered to a depth of 942m down hole, confirming the width of the pipe to be approximately 110m wide at this depth.
Sovereign Gold Company Limited (ASX:SOC) (Sovereign Gold) advises that is has completed the placement of 8 million fully paid ordinary shares (5.6% of its issued capital) at 20 cents per share to institutional and sophisticated investors, as defined under Section 708 of the Corporations Act, raising $1.6 million before costs.
Sovereign Gold Company Limited (ASX:SOC) is pleased to announce that initial assays have been received from deep diamond hole GHD004, which was drilled to determine the subsurface width of Hobbs Pipe 1 in the northeast direction.
Sovereign Gold Company Limited (ASX:SOC) announce the successful completion of a second drill hole into the Hobbs Pipe 1 with ~110 metre width confirmed.
Sovereign Gold Company Limited's (ASX:SOC) Mt Adrah Hobbs Pipe 1 Project Economics Review and scoping study is underway for the Hobbs Pipe 1 deposit, with guidance from a team of highly respected consultants and mine developers.
Current diamond drill hole, GHD004 is primarily testing the lateral extent (width) of the deposit at depth and in a NNE direction, where the company believes the system may be spatially associated with the main intrusive source responsible for the Hobbs Pipe 1 beneath Mount Adrah.
EL 6483 is contiguous to EL 7491 - the large Intrusion-Related Gold System (IRGS) of the Rocky-River Uralla Goldfield extends across both ELs.
Sovereign Gold Company Limited (ASX:SOC) announce that the current width determined by recent drilling of the Mt Adrah IRGS Gold System at the Hobbs Pipe 1 is ~70 metres and widening
