AI assistant
CRITICAL RESOURCES LIMITED — Capital/Financing Update 2013
Aug 12, 2013
64708_rns_2013-08-12_ef28fa30-f1a6-4b03-9915-1be9e868a895.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [452 x 122] intentionally omitted <==
ASX Release
13[th] August 2013
Hobbs Pipe 1 update
Hobbs Pipe 1 continues to exceed expectations – First assays received for GHD004
==> picture [186 x 270] intentionally omitted <==
----- Start of picture text ----- �������������������������������������������������������������������GHD004�����������������������140m @ 1.4 g/tfrom Pipe entry at 336m �����������������������������������������������������������������������������������������������������������������----- End of picture text -----
-
142m @ 1.4 g/t Au from 336m – 478m
-
Including: 18m @ 1.9g/t Au from 340m – 358m
-
Including: 18m @ 2.2g/t Au from 388m – 406m
-
-
Initial assays for second deep hole GHD004 are at 1.4 g/t, the upper range of expectations
-
Results further confirm company’s concepts and targets
-
Results indicate grade improvement to 478 metres (downhole)
-
Assay results from the rest of the hole below 478 metres are pending and will be reported as received
Sovereign Gold Company Limited (ASX: SOC) is pleased to announce that initial assays have been received from deep diamond hole GHD004, which was drilled to determine the subsurface width of Hobbs Pipe 1 in the northeast direction.
X-Section View to the WNW showing hole GHD004 relative to the 886m intercept in hole GHD001.
The assay results are at the upper range of expectations at 1.4 g/t.
GHD004 entered the Hobbs Pipe 1, at approximately 336m down hole, and visual logging to 1,030 metres indicates, as predicted, an approximate true width of ~110 metres, being confirmed as further assays are received.
Approximate true width estimated ~110m at ~920m down hole in GHD004. Note: GHD004 is collared at a lower elevation to GHD001.
The first results from GHD004 provide further validation of the Exploration Target for Mt Adrah Hobbs Pipe 1 of 65 - 90M tonnes at 1.1 g/t – 1.4 g/t for 2.25M to 4M ounces contained gold.
The potential quantity and grade of exploration targets is conceptual in nature. There has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.
The scoping study underway for the Hobbs Pipe 1 deposit, with guidance from a team of highly respected consultants and mine developers, is initially focused on optimizing gold recovery, options for low cost bulk mining, sulphide concentrate offtake options, and potential revenue generation for the project.
The next deep drill holes starting within the fortnight are designed to determine the strike length of the pipe, now estimated to be 250-300m (an increase from initial estimates of 200m); GHD005 will test strike length toward the ESE (inclined to 75°) and GHD006 will test the strike length toward the WNW (inclined to 78°).
Media enquiries:
Rebecca Lawson, Mercury Consulting Mobile: +61 432 398 122 [email protected]
For further information please contact: Michael Leu, CEO Telephone: +61 2 9251 7177 [email protected]
ASX Release 13[th] August 2013 – Page 2
==> picture [33 x 32] intentionally omitted <==
==> picture [158 x 184] intentionally omitted <==
Location map and geological setting, EL 6372 Location of Mount Adrah relative to several world- class gold deposits situated on the Gilmour Suture and associated splays.
==> picture [287 x 272] intentionally omitted <==
Qualifying Statements
The information in this report that relates to Exploration Information is based on information compiled by Michael Leu a Member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists together with Dr Andrew White, a Fellow of the Australian Institute of Geoscientists and Jacob Rebek and Dr Kris Butera, Members of the Australian Institute of Geoscientists.
Mr Leu and Jacob Rebek are qualified geologists and are directors of Sovereign Gold Company Limited; Dr White is a director of Gossan Hill Gold Limited; and Dr Kris Butera is CEO and director Gossan Hill Gold Limited.
Mr Leu, Jacob Rebek, Dr White and Dr Butera have sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration and to the activity, which they are undertaking to qualify as Competent Persons as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Resources. Mr Leu, Jacob Rebek, Dr White and Dr Butera consent to the inclusion in this report of the Exploration Information in the form and context in which it appears.