Early Success following Airborne Magnetic Survey
Sydney, Sep 28, 2011 AEST (ABN Newswire) - Sovereign Gold Company Limited (
ASX:SOC) announces that very detailed structural imaging has been analysed following Thomson Aviation's Fixed Wing Geophysical Survey. This very detailed survey was flown at 60-metre elevation along 50 metre close spaced survey lines over 5,008 line kms.
- Arteries of vast gold-bearing fluid plumbing system revealed
- New targets identified
Confirmed:
- Large gold mineralised system
- Gold conduits long, linear, deep tapping structures with potential for gold lodes like Martins Shaft extending several hundred metres vertically.
- Potential for near surface major gold lodes and mineralised stocks at depth; gold deposits occur over kilometres of the main NE trending magnetic linear.
- Major areas of gold mineralisation associated with long conduits having channelled gold-bearing fluids.
- Significant drill targets where major magnetic lineaments intersect.
Potential conduits for gold-bearing fluids have been identified - a system of kilometres of gold channelling conduits that define a gold mineralised system that extends at least 11km from north to south and 6.5km from east to west.
The geophysical survey has confirmed the connection of known gold mineralisation with the alteration structures that channelled and concentrated gold-bearing fluids. The magnetic data has revealed the existence of kilometres of untested gold potential. Martins Shaft, Little Gracie, Gracie, Wilsons Creek and the Goldsworth Mine are all located on major magnetic linears.
Details of area where the main north-south and north-east magnetic linears intersect clearly showing that these deep tapping conduits controlled deposition of gold-bearing fluids can be seen at Figure 2 (see link below).
Interpretation of the magnetic and radiometric data is continuing together with geochemical surveys and mapping of alteration and structure.
The next drilling campaign is being planned.
For the full release please visit:
http://media.abnnewswire.net/media/en/docs/ASX-SOC-650540.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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