Sovereign Gold Mine Discoveries Continue
Sydney, April 2, 2012 AEST (ABN Newswire) - Sovereign Gold Company Limited (
ASX:SOC) has located a previously unrecorded gold mine shaft 1 km southwest from Frasers Find on EL 6483 in the Rocky River-Uralla Goldfield.
This shaft has been dedicated as the Diggers Shaft in honour of one of the last prospectors - Maurice Victor Charles Melvaine (D.C.M.) who passed away in 2010 aged at 90 years (see Historical Note).
The Diggers Shaft's significance was not fully understood until after the discovery of Frasers Find, interpretation of airborne magnetic data and review of historical documents about the goldfield.
Samples of sheeted veins collected from waste piles beside Diggers Shaft assayed up to 2.39 grams per tonne gold, 3.76 ounces per tonne silver and 0.85% lead per tonne.
No records of this shaft exist other than in A Prospector's Review of the Rocky River Goldfield at Uralla - an unpublished memoir written by Melvaine:
"One of these reefs is a heavily mineralised true fissure reef which persists even though it has faulted in several places. It crosses Wilson's Creek near the Goldsworth Boundary fence."
Melvaine describes a shaft on the eastern side of the creek (Frasers Find) and also on the western side, "On the western side of the creek another shaft is reputed to have returned assays of 4oz gold and 40oz silver to the ton in a stockwork several feet wide but I suspect unreliable picked samples were assayed.
This reef may reappear at Reedy Gully about four miles away to the north, the mineral in the Reedy Gully reef is very similar to the Wilson's Creek reef and probably aligned in the distant past."
Melvaine's maps found in the Mitchell Library show that the shaft he described on the western side is in fact the Diggers Shaft.
His map has also led Sovereign Gold to the Reedy Gully reef - another new discovery - workings have been located and undergoing exploration.
It is clear the old timers had worked out that the gold lodes were associated with long linear fissures.
Sovereign Gold's geophysical and geochemical data has proven long linear structures are channelling gold-bearing fluids. It is highly probable that the 250 metre long southwest aligned series of workings at Frasers Find occupy the same structure hosting the Diggers Shaft.
The mineralisation at Frasers Find and the Diggers Shaft has the same unique geochemical fingerprint. Comparison of the multielement geochemistry indicates both mineralised sites were impregnated by the same fluid source.
Further, the suite of anomalous elements (Bi, Mo, Te, Sn) shows fluids derived from a granitic intrusive source, as predicted by Intrusion-Related Gold Systems.
This long mineralised structure has the potential to host deep tapping gold lodes in altered granite and is a priority target for the drilling campaign commencing late April.
It is highly probable that the 250 metre long southwest aligned series of workings at Frasers Find occupy the same structure hosting the Diggers Shaft. This large target is a priority for the drilling campaign commencing late April.
To view the complete Sovereign Gold announcement including Tables and Figures, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-SOC-673512.pdf
Historical Note:
Bravery in Syria, Australians decorated
Brave Uralla Goldfields Digger
Machine-gun silenced
PRIVATE Maurice Victor Charles MELVAINE was awarded the Distinguished Conduct Medal (D.C.M.) for conspicuous gallantry and devotion to duty on June 27 1941 during an attack on Jebel Mazar, Syria.
An enemy machine-gun opened fire on his company. Private Melvaine, without hesitation, made straight for the gun, which continued to fire on him, until he was within a few yards.
He killed the gun crew and captured the gun, thus allowing the advance to continue.
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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