Sign up Australia
Proactive Investors - Run By Investors For Investors

Sovereign Gold Company intersects more high grade zinc and lead

Highlights include: 7.2 metres at 20.19% zinc and 7.17 % lead.
Sovereign Gold Company intersects more high grade zinc and lead
Highlights include: 7.2 metres at 20.19% zinc and 7.17 % lead.

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.

View full 4CE profile View Profile

Force Commodities Ltd Timeline

Related Articles

Picture of drill rig on site at West Musgrave
April 09 2018
Shareholders could see value emerge from near-term exploration at the Succoth project.
A sapphire
November 20 2017
Vered Toledo writes about mining in Israel and where Shefa Yamim A.T.M fits in
The company aims to begin drilling in summer 2018.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use