Mt Adrah exciting new observations and concepts
Sydney, Sep 18, 2013 AEST (ABN Newswire) - Sovereign Gold Company Limited (
ASX:SOC) through its subsidiary Gossan Hill Gold Limited, is pleased to present an update of the current drilling program.
- Skarn features encountered commonly associated with major gold deposits observed in hole GHD007 - highly significant development
- Assay results from hole GHD006 pending
- 3D IP progressing
Gossan Hill Gold CEO, Dr Kris Butera, said "The observations of the skarn assemblages and the coincident historic near surface low grade gold mineralisation add a new dimension to the project. We interpret the lengthy skarn intercept as indicating that we are skirting the edge of a major gold deposit. The understanding of the morphology and style is being developed.
Additionally, with results for hole GHD006 pending and the commencement of the 3D IP Survey, potential further excellent results will be soon released to the market. This is an exciting project and it continues to evolve with new potential with every hole."
Concept development
The company will assess the potential for the gold endowed metasediments and skarns to form a large scale economic open pit with the inclusion of Hobbs Pipe 1 and any other proximal intrusive hosted mineralisation.
Drill Hole GHD007
Hole GHD007 is oriented toward the NE, and was designed to target the NE edge of Hobbs Pipe 1 near the surface, and continue on to test the geology beneath historical highly anomalous hornfels metasediment hosted mineralisation.
Intensely skarnified and very densely sheeted veined metasediment is observed in the hole, from ~350m. The rock assemblages include magnetite-dominant and garnet-pyroxene skarns.
Skarns are commonly seen proximal to some of the largest gold and copper deposits known, including at Cadia Valley (operated by Newcrest), Grasberg (Ertsberg) in PNG, and Red Dome (North QLD).
Hole GHD007 is currently at a depth of 700m.
In addition to the dense sheeted veins (zones of up to 1 vein or microvein of quartz or quartz-carbonate every 2cm), frequent larger quartz-carbonate veins are associated with an alteration selvedge with pyrite-arsenopyritepyrrhotite mineralisation
Hole GHD007 is testing the geology below historical drill holes:
- AT40: 50m @ 0.6g/t Au from surface
- AT41: 50m @ 0.5g/t Au from surface
- AT42: 38m @ 0.33g/t Au from surface
- MAAT59: 56m @ 0.4g/t Au from surface
- MAAT58: 66m @ 0.6g/t from surface
- MARC-3: 150m @ 0.4g/t Au from surface
To view diagrams and maps, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-SOC-756288.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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