Sovereign Gold Company Limited - Drill Hole GHD006 Continuous Mineralisation from Surface
29.08.2013 | ABN Newswire
Sydney, Australia - Sovereign Gold Company Ltd. (ASX:SOC) announce that drill hole GHD006 has continuous mineralisation from surface with the following highlights:- GHD005 halted prematurely after drilling reveals historical drill collar data survey omissions
- A hole to test the strike extent in an ESE direction, with adjusted dip data, to follow completion of GHD006
- Drill hole GHD006 underway, optimised with corrected survey data
- GHD006 currently at ~277m, visible gold at 121.4m, visual mineralisation throughout
Drill hole GHD005 was completed earlier than expected, at 333m, as the geological sequence which was encountered prompted a review of the historic drill collar survey data. As a result of that review it was determined that the inherited historic database had some minor survey errors/omissions with respect to nearby historical drill holes (now rectified).
Drilling was stopped immediately in order to design a more optimised hole to test the extent of the mineralisation at depth in the east-southeast strike direction.
Additionally, and subsequently, drill hole GDH006 was also optimised, with the hole's inclination changed to -82deg (from - 78deg). GHD006 commenced immediately in order to optimise the drilling plan.
Mineralisation began at the surface in GHD005 but exited the hole at ~100m, and entered through highly veined and strongly potassically and propylitically altered monzonite to the ESE of the pipe edge. This allowed the geological team a much better understanding of the alteration zonation pattern around the Pipe, which will help future exploration of the Pipe.
The observation of high temperature K-feldspar-quartz-carbonatesulphide veins toward the end of the hole may signify that the hole may have been approaching another pipe, or causative intrusive.
As validation of the multi-pipe concept is planned to follow the 3DIP survey, scheduled to begin shortly, the exploration team determined to immediately commence GHD006, correct the data set and return to test the strike to the ESE. The strike extent to the ESE will be tested later with a substituted optimised hole(GHD007).
GHD006 is currently at ~277m with visual mineralisation in the core consistent with the mineralisation in GHD001 and GHD004. Visible gold was observed at 121.3m.
To view diagrams and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-SOC-752679.pdf
About Sovereign Gold Company Limited:
Sovereign Gold Company Ltd. (ASX:SOC) is an Australian-based gold mining company that holds a prospective tenement package covering the Rocky River-Uralla Goldfield, 21km southwest of Armidale, NSW, Australia.
Contact:
Sovereign Gold Company Ltd.
Michael Leu, CEO
Telephone: +61-2-9251-7177
mleu@sovereigngold.com.au
Media enquiries:
Rebecca Lawson
Mercury Consulting
Mobile: +61-432-398-122
Rebecca.lawson@mercuryconsulting.com.au