Sovereign Gold Company Limited (ASX:SOC) Successfully Completed Close Spaced Airborne Magnetic and Radiometric Survey
Sydney, Aug 24, 2011 AEST (ABN Newswire) - Sovereign Gold Company Limited (
ASX:SOC) is pleased to announce that Thomson Aviation has completed a Fixed Wing Geophysical Survey of a total of 5,008 line km covering a large part of EL 6483 and parts of EL 7491 and EL 7700. This very detailed survey was flown at 50 metre elevation along 60 metre close spaced survey lines.
This low level magnetic and radiometric survey will provide a very detailed structural image for identifying potential conduits for goldbearing fluids. The radiometric survey will help define the extent and alteration of individual dykes and dyke swarms.
In particular the airborne survey may identify areas with a radiometric signature similar to that associated with alteration and gold mineralisation at Martin's Shaft.
This survey is expected to define multiple new targets for follow up soil geochemistry and RC drilling.
Martin's Shaft, Little Gracie, Gracie and Wilson's Creek are located just to the east of the NE trending major magnetic lineament on less defined structural elements that are trending NNE.
Mineralisation at these prospects is hosted by metasediments and dykes located on or very close to the shoulder of the underlying Khatoun Tonalite.
An airborne magnetic survey carried out by the NSW Geological Survey was wide spaced and identified the major structural elements such as the major lineament that has been called the Old Bonanza Dyke. The largely unexplored SW-NE trending linear feature extends at least 40km and has acted as a principal conduit for mineralising solutions and multiple high grade gold lodes.
Drilling at the Goldsworth Prospect has indicated that this major magnetic feature represents a zone of intense alteration and gold mineralisation. It hosts many dykes, some of which are mineralised.
Of particular interest is to clearly define the NNE trending structures in the search for new targets similar to Martin's Shaft, Gracie and Wilson's Creek.
In EL 7700, a NW trending structure intersects the major magnetic linear in the SW corner; this is the Reedy Creek Prospect. This is the site of a large gold in soil anomaly that is being re-tested and shows as a strong magnetic anomaly in the raw data.
In EL 6483, fieldwork has shown that the mineralising system extends for 4km east to west, and at least 10km in a north-south direction.
There are currently multiple high priority targets and these are expected to increase in number after the data has been processed, which is underway.
For the complete Sovereign Gold Company Limited announcement including figures, please view:
http://media.abnnewswire.net/media/en/docs/ASX-SOC-645632.pdf
About Sovereign Gold Company Limited
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.
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