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Force Commodities is the new name for Sovereign Gold Company

Force Commodities (ASX:4CE) is the proposed new name for Sovereign Gold Company (ASX:SOC).
Force Commodities is the new name for Sovereign Gold Company
Force Commodities is the new name for Sovereign Gold Company

The company recently lodged its research and development tax incentive claim for the 2015 financial year and it expects to receive $200,000.

Additionally, the prospectus for the Clayton Valley lithium spin-off, Marquee Resources has been lodged with authorities.

Force Commodities will retain a 9.375% equity position upon successfully listing with the equity valued at $450,000 at the $0.20 issue price.

The company is also currently awaiting assays due shortly from drill holes SG04, SG05 and SG06 at the 100% owned Halls Peak - Gibson project located in New South Wales.

Recent assays saw SG03 intersected 102.3 metres at 4.40% zinc and lead, 0.39% copper, 88.94 g/t silver and 0.26 g/t gold from surface.

This follows intersections in the first two holes of:

- SG01: 43.30 metres at 5.06% zinc and lead, 0.98% copper, 23.79 g/t silver, 0.14 g/t gold  including 3.80 metres at 16.78% zinc, 3.85% lead, 2.13% copper, 41.84 g/t silver and 0.22 g/t gold; and
- SG02: 47.60 metres at 3.91% zinc lead, 0.48% copper,10.92 g/t silver, 0.07 g/t gold including 16.40 metres at 5.93% zinc, 2.27% lead, 0.77% copper, 17.01 g/t silver and 0.13g/t gold.

Analysis of the deposit will be conducted and a structural image will be compiled and released shortly, incorporating all previous and existing drilling results.

The presence of high-grade copper mineralisation at depth suggests the possibility of second style of mineralisation in the Halls Peak area, potentially massive sulphide replacement bodies in intensely carbonate-altered rocks or a porphyry-style mineralisation at depth.

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