Rocky River Uralla IRGS Mineralisation Deepening and Widening
Sydney, Aug 5, 2013 AEST (ABN Newswire) - Sovereign Gold Company Limited (
ASX:SOC) announce the Rocky River-Uralla mineralisation is deepening and widening with the following highlights:
- Multiple dyke swarms mapped cut by north-east trending mineralised structures
- Fully funded 2,500m drilling program continues - mineralisation deepening and widening
- 1.55km Mineralised Structure - Hole ZK0001 completed (113.7m) under SGRDD036
-- Gold-bearing mineralisation and alteration over 21m from 77m - 98m including
--- 0.9 g/t Au over 2m from 79.5-81.5m
--- 1.1 g/t Au over 8m from 90.0-98.0m including
- 3.95 g/t Au over 0.5m from 93.0-93.5m
- SGRDD036 intersected 2.72g/t Au over 5m from 7-12 metres downhole including
-- 7.8g/t Au over 1m and 12.35g/t Au over 0.5m
- ZK0003 intercepts mineralised zone from 101.0-106.7 meters deep, mineralisation continues
- High precision GPS (using Continuously Operating Reference Station - CORS signal) geological mapping at 1:2000 scale for detailed comparison with Donlin Creek analogue underway
- Fully funded by Joint Venture partner, SUGEC, funding $2m exploration program on EL7491 to March 2014
- Testing large scale Intrusion-Related Gold Systems (IRGS)
- Deep drilling designed to assess full potential of 1.55km long identified gold-bearing structure
- The campaign is expected to be completed in the September quarter- regular updates will be provided to the market
- Dual drill rigs operating simultaneously
Diamond Drilling EL 6483 and EL 7491
EL 6483 is contiguous to EL 7491 - the large Intrusion-Related Gold System (IRGS) of the Rocky-River Uralla Goldfield extends across both ELs.
Following detailed geological mapping and geochemical and geophysical surveys a series of close-spaced northeast dominant mineralised structures and subsidiary semi-orthogonal structures that cut north-west trending felsic dykes have been discovered.
One of the mineralised shear zones has been traced for 1.55km and is the current focus of drilling.
Martins Shaft-style mineralisation has been intersected in the felsic dykes.
Drilling has revealed brecciation and silica-sulphide flooding accompanied by tongues of mineralised felsic dykes in mineralised metasediments along the 1.55km long structure.
This extensive mineralised shear zone-fault system may represent a high level fracture fluid plumbing system developed above a potential IRGS Hobbs-style pipe.
Sovereign Gold previously drilled seven shallow holes along this structure. The holes have shown both high grade (up to 12.35g/t Au) and wide (12 metres downhole) gold mineralisation at shallow depths potentially suitable for open-cut.
Results included 2.72g/t Au over 5m from 7-12m downhole including 7.8g/t Au over 1m and 12.35g/t Au over 0.5m in diamond drill hole SGRDD036 and 1.07g/t Au over 12m from 3-15m downhole including 4.93g/t over 0.6m in SGRDD037. This gold mineralisation occurs within the same large felsic dyke system hosting Martins Shaft.
The SUGEC supplied drill rig completed diamond drill hole ZK0001 to a depth of 113.7m and is well underway with second hole ZK003 that has encountered mineralisation at 101m and is still in mineralisation at 106.7m, deepest point at time of reporting.
Diamond Drill Hole ZK0001 and ZK0003
Diamond Drill Hole ZK0001 was drilled under SGRDD036 and ZK0003 is being drilled under ZK0001.
ZK0001 established a significant increase of width with depth, as SGRDD036 was a shallow hole that intersected 2.72g/t Au over 5m from 7-12 metres downhole including 7.8g/t Au over 1m and 12.35g/t Au over 0.5m.
Diamond Drill Hole ZK0001 demonstrated gold-bearing mineralisation and alteration over 21m downhole from 77m - 98m that included 0.9g/t Au over 2m from 79.5m - 81.5m and 1.1g/t Au over 8m from 90m- 98m including 3.95g/t Au over 0.5m from 93-93.5m
ZK0001, total depth 113.7 metres: Diamond Drill Hole ZK0001 demonstrated gold-bearing mineralisation and alteration over 21m downhole from 77m - 98m that included 0.9g/t Au over 2m from 79.5m - 81.5m and 1.1g/t Au over 8m from 90m-98m including 3.95g/t Au over 0.5m from 93-93.5m (ALS Certificate of Analysis BR13102581).
Exclusion of results which are below the likely economic cut off grade, does not detract from the understanding of this report.
Second hole ZK0003 has encountered mineralisation at 101m and is still in mineralisation at 106.7m.
Previous Drilling
Sovereign Gold has previously drilled seven shallow diamond holes along the 1.55km structure (SGRDD036, 037, 038, 039, 043, 044 and 045).
SGRDD036: encountered 2.72 g/t Au over 5m from 7-12 metres downhole including 7.8 g/t Au over 1m and 12.35 g/t Au over 0.5m.
SGRDD037: encountered anomalous gold mineralisation. Multi-element analyses showed that this hole penetrated the outer alteration halo of the main gold mineralisation. It indicates that the bulk of the gold mineralised system is still potentially persevered.
SGRDD038: encountered 1.16 g/t over 3.0 metres from 39-42m downhole including 1.93 g/t over 1.0m.
SGRDD038 was drilled under SGRDD037, established gold mineralisation widening at depth.
SGRDD039: encountered 1.07 g/t over 12 metres from 3-15m downhole including 4.93 g/t over 0.6m.
Also 129.6 g/t Ag (silver) over 0.72m from 13.60-14.32 metres downhole including 453 g/t Ag (14.6 ounces) and 0.14% Sb (antimony) over 0.2m.
SGRDD043: encountered 1.02g/t over 6 metres downhole from 28-34 metres including 2.01g/t Au over 2.5m from 30.5-33metres, including 3.93g/t Au over 1m from 31-32 metres.
SGRDD044 and SGRDD045: encountered shallow anomalous gold over 15.1 metres and 8.2 metres from 6.9-22 metres and 7.9-16 metres respectively.
Closed spaced ground magnetic and IP surveys are planned to locate conceptual deep drilling, pipe-like target that may have generated the extensive fracture system flooded with sulphide mineralisation and stringers of felsic dykes.
To view assay tables and diagrams, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-SOC-748073.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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