Further Positive Exploration Results from Hobbs Pipe 1
Sydney, Sep 11, 2013 AEST (ABN Newswire) - Sovereign Gold Company Limited (Sovereign Gold) (
ASX:SOC) is pleased to report further positive results from its ongoing exploration program at the Mt Adrah Hobbs 1 Pipe gold project.
Key finding from the most recent exploration work include:
Drill Hole GHD005
- 100m @ 1.4 g/t Au from surface
- 92m @ 1.5 g/t Au from 8m
- 52m @ 1.7 g/t Au from 44m
Drill Hole GHD006
- Strong mineralisation observed throughout from surface
- 856m end of hole
- Visible mineralisation observed to 820m
- Testing WNW strike extension of Hobbs Pipe 1
- Strike length is currently estimated at ~200m with further drilling underway
Drill Hole GHD006
Drill hole GHD006 was testing the strike length of Hobbs Pipe 1 toward the WNW inclined to 82deg.
GHD006 commenced on 26 August 2013 and was completed at ~856m. Visible mineralisation has been observed from surface to 820m with visible gold observed at 121.3m. Core has been cut and dispatched to ALS for assay. Strike length is currently estimated at ~200m with further drilling underway to extend the strike length further.
Kris Butera, Chief Executive of SOC subsidiary Gossan Hill Gold commented that "Hole GHD006 is significant in that it has confirmed mineralisation to depth, towards the NW, validating plunge extent and direction"
Given the depth and extent of mineralisation observed in drill hole GHD006, Mr Butera indicated "Assays from hole GHD006 are pending and will be added to the data set to determine the next resource upgrade".
Next Phase Exploration Works
Drill Hole GHD007
Sovereign Gold confirms that the next phase of exploration works at the Mt Adrah Gold project will comprise a further steeply dipping drill hole (GHD007), inclined at 75deg testing to the NE, which is to confirm the width of the Hobbs Pipe 1 along strike.
3D IP Geophysical Survey
In addition to drill hole GHD007, Sovereign Gold intends to undertake a 3D IP geophysical survey, which is designed to identify additional targets for drilling to validate the multi-pipe concept targeting validity of multi-pipe concept. This program is commencing today and is expected to take 3 weeks to complete and have results for reporting to the market.
Induced polarisation surveys are an electrical geophysical survey utilised primarily for the detection and mapping of disseminated sulphide bodies. The data is collected from multiple points and inverted into a high-resolution 3D model.
The 3D IP Survey started today and consists of 7 arrays over an area of approximately 2 km x 800m.
To view the location map, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-SOC-755166.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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