Sovereign Gold Company Limited - Mount Adrah Drilling to Target High-Grade Mineralisation
27.02.2014 | ABN Newswire
Sydney, Australia (ABN Newswire) - Mount Adrah Gold Limited (formerly Gossan Hill Gold Limited), a 72% held subsidiary of Sovereign Gold Company Ltd. (ASX:SOC) is to recommence drilling at the Mount Adrah Gold Project in south-eastern NSW.Initial drilling will target shallow high-grade narrow vein mineralisation identified in old workings and previous shallow drilling at Arcadia Reefs.
The current program will also include:
- Infill drilling of Hobbs Pipe 1 to advance conceptual open pit studies
- Testing for additional Hobbs Pipe 1 type mineralisation, including the Hobbs SE target, exposed at surface and located 800m from Hobbs Pipe 1
CEO, Michael Leu said, "Following the successful exploration program conducted in 2013, we look forward to the next stage of development of the Mount Adrah Gold Project.
"Having identified three distinct types of mineralization in 2013 (monzodorite pipe, high-grade narrow vein reefs and skarn), work is now underway to extend the knowledge of this gold system, with the objective of early commercialisation."
About Sovereign Gold Company Limited:
Sovereign Gold Company Ltd. (ASX:SOC) is an Australian-based gold exploration and development company that holds a highly prospective tenement package, for Intrusion-Related Gold Systems (IRGS), in New South Wales, Australia. Sovereign Gold holds 11 Exploration Licences covering over 3,240km2 near Armidale in NSW, including the historic Rocky River-Uralla Goldfields. Sovereign Gold's aggressive exploration program in several of these licence areas is funded via a joint venture (at the tenement level) with Jiangsu Geology & Engineering Co Ltd (SUGEC), a major Chinese State-owned geology enterprise. The other area of focus is the Mt. Adrah Project, approximately 50km southeast of the regional NSW centre of Wagga Wagga and 23km northwest of the historic mining district of Adelong, via an 87% interest in unlisted Gossan Hill Gold Limited. This area contains the recently discovered, world-class, Hobbs IRGS deposit which is currently under evaluation.
Contact:
Sovereign Gold Company Ltd.
T: +61-2-9251-7177
F: +61-2-9251-7500
WWW: www.sovereigngold.com.au