Sovereign Gold Company (ASX:SOC) (currently being renamed Force Commodities ASX:4CE), has intersected more high grades of zinc and lead in its final round of assay results from drilling at the 100% owned Halls Peak - Gibson project located in New South Wales.
Assays from the final three holes all ended in mineralisation and recorded grades of up to 46% zinc and 27% lead.
The significance of these results is evident and confirm the board’s recent decision to expedite its phase 3 drilling campaign early next year.
The developing picture at Halls Peak is encouraging and suggests a deposit based on a Kuroko massive sulphide style system.
Collation of data for the creation of a 3D model is ongoing and will be possible with the addition of the next round of drilling data.
Rocco Tassone, managing director, commented:
"This process will ensure the best information available is used in targeting further drill holes, which in turn gives the company its best chance of discovering the most economically significant parts of the system."
Drill result details
The final round of assay results from this drilling campaign has returned some exceptional near surface high-grade results including:
- 7.2 metres at 20.19% zinc, 7.17 % lead, 0.66% copper, 30.93 g/t silver and 0.1 g/t gold from 8.8 metres;
- 11.2 metres at 19.71% zinc, 10.77% lead, 0.8% copper, 134.96g/t silver and 0.23g/t gold from 8.4 metres; and
- 13.2 metres at 5.53% zinc, 2.71% lead, 0.43% copper, 94.33 g/t silver and 0.52 g/t gold from 8.8 metres.
This follows intersections in the first three holes of:
- 43.30 metres at 5.06% zinc and lead, 0.98% copper, 23.79 g/t silver, 0.14 g/t gold;
- 47.60 metres at 3.91% zinc lead, 0.48% copper,10.92 g/t silver, 0.07 g/t gold; and
- 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.
The final round of assay results at Halls Peak continues to confirm the right depositional environment to host a large scale, high-grade base metal deposit.
Recognition of Halls Peak as a Kuroko style massive sulphide deposit type raises the prospectivity and chance of major ore system discovery through the use of type-example analogy.
The third phase of drilling at Halls Peak will be expedited for early 2017 and will target a maiden JORC resource with potential additional extensions to the mineralised high-grade zones.
This ensures the company is leveraged to exploration news flow from a highly prospective project over the short term.
The developing picture at Halls Peak as shown by the most recent assay results from holes is encouraging.