Sovereign Gold (SOC) - Mt Adrah assays

[Huang Chung]

Could be a big week for Soverign Gold as the are expecting to get back assays on part of the core of their recently completed one km deep diamond drill hole at Mt Adrah, in the Lachlan Fold Belt area of NSW.

Mt Adrah is shaping up as anything but your typical gold project. Could be huge if the assays are good, so, at the very least, it's probably worth keeping an eye out for the results when they come though.

Grabbed a few during the week, as a bit of a punt.




http://stocknessmonster.com/news-item?S=SOC&E=ASX&N=741436

http://stocknessmonster.com/news-item?S=SOC&E=ASX&N=743138

http://stocknessmonster.com/news-item?S=SOC&E=ASX&N=744466

[Huang Chung]

I'm not worrying about the conceptual stuff, as we're so far from those numbers it's just not funny.

Pipe 1 is pretty much all I'm focusing on right now. Continuous mineralization to 886m is tantilizing.....just hope the grades can come in at better than a gram a tonne, and hopefully closer to 2g/t.

[Huang Chung]

Every metre a winner so far.

This could be very, very big.....

http://stocknessmonster.com/news-item?S=SOC&E=ASX&N=745238

[Entrep]

Certainly a lot of excitement, but muted response and man this depth looks ugly! http://cb.iguana2.com/netwealth2/depth/soc

[Huang Chung]

I don't think the way they constructed the release has helped with those who just do a quick scan of the headlines to see if it's worth reading any further. 284m @ 1.2g/t from 292m sounds OK, but you have to read further to get a fuller appreciation of what the company is saying.

[Huang Chung]

Yesterday's ABN Newswire video interview with CEO and chief rock kicker Michael Lau is very interesting....

Worth a listen!

http://www.abnnewswire.net/press/en/75533/Sovereign_Gold_(ASX:SOC)_Mt_Adrah_Hobbs_proves_to_ be_Game_Changer_for_Sovereign_with_1000_Metre_Dril l_Confirming_IRGS_Gold.html

[trackers]

whats the chance of the grades going up? Watched the interview, pretty interesting

[Huang Chung]

Well Trackers, the next batch of assays are in.

Add another 194m @ 1.3g/t.

Assays now back for 478m in total, averaging 1.2g/t.

Still waiting on assays from 0 - 292m (largely to reconfirm the mineralization we already know is present from previous shallow drilling) and 770m - 1029.6m.

http://stocknessmonster.com/news-item?S=SOC&E=ASX&N=745956

[Huang Chung]

Every post a winner so far.

Second deep drill hole is apparently still within the pipe (which is an unexpected, but most welcome, surprise). Width of the pipe is AT LEAST 100m at the depth where the first deep drill hole exited the pipe.

All we need now is the gold price to cooperate a bit more, and a bit more buyer interest. Reckon that might come as the get more of a handle on the width and depth of pipe.

Worth remembering that this pipe is likely the first of four or five pipes they've potentially identified.


http://stocknessmonster.com/news-item?S=SOC&E=ASX&N=748192

[Huang Chung]

Assay results starting to flow though from the second deep drill hole into Pipe 1.

http://stocknessmonster.com/news-item?S=SOC&E=ASX&N=749183

[JBmurc]

Brought a few of these of late ....many valuations round the 40c level ...cheap if you confident they will uncover a large resource ...and on the Gold price movement ....personal am on both counts

[Huang Chung]

For whatever the reason, the market isn't buying the story JB.

Refractory ore is my guess.

[JBmurc]

For whatever the reason, the market isn't buying the story JB.

Refractory ore is my guess.

Yes I understood that.. my other PM investment PGI mines Refractory ore ....was a problem years ago,,,,Between 1994 and 2009 world gold production increased by 40% from 1,677 to 2,350 tonnes but gold produced from refractory ores increased by more than 165% from 94 to over 250 tonnes, now representing above 10% of all Gold production......

SOC resource is looking HUGE that helps when it comes to CAPEX .....could well be the next NCM Cadia size discovery

[Daytr]

I just doubled up this morning. There has been huge leap forwards in processing refractory ore in the last 10 years. And one thing that conquers all is quantity & grade & SOC just might be onto a bonanza here.

[JBmurc]

I just doubled up this morning. There has been huge leap forwards in processing refractory ore in the last 10 years. And one thing that conquers all is quantity & grade & SOC just might be onto a bonanza here.

I can't believe the SP isn't higher thought it would have least closed 23c ....oh well shouldn't take long

[Bobcat.]

SOC have published recent results from drilling at Precious Metal Resources (78% owned):

2nd hole of six drilled with mineralisation confirmed with whopping grades!

3m @ 949g/t
1.6 @1900 g/t

...and SOC's sp again has not budged...go figure.

[JBmurc]

SOC CEO presentation
http://www.abnnewswire.net/press/en/76597/Land_of_the_Mineral_Mammoths_Investoriumtv_Sydney_ March_17th_CEO_Presentations

Market values SOC less than their share holding in PMR crazy times

[Daytr]

Thanks JB. I'm going to post the link on HC. It hasn't been posted there has it? I don't remember seeing it.


SOC CEO presentation
http://www.abnnewswire.net/press/en/76597/Land_of_the_Mineral_Mammoths_Investoriumtv_Sydney_ March_17th_CEO_Presentations

Market values SOC less than their share holding in PMR crazy times

[JBmurc]

The Melbourne Mining Club Presents:


Mr. Ben Hammond
Cief Executive Officer
Centrex Metals

Mr Peter Davies
Managing Director
Image Resources NL


Julian Malnic
Director - Sovereign Gold Limited
Managing Director- Mount Adrah Gold Limited

Date: Tuesday 18 March


Time: 5:30pm sharp (registration from 5:00pm)

Registration: click here to register

Seating is limited so early booking is recommended

RSVP Wednesday 12 March 2014

Three presenters will make a 15 minute presentation followed by a 5 min Q&A from the audience. The formal part of the evening will conclude at 7:00pm, when our hosts, KPMG and the Department of State Development, Business and Innovation, will provide refreshments and an opportunity for networking and informal discussions with the organisations representatives. The function will conclude by 8:00pm

[JBmurc]

Going from last presentation 2nd JAN they were talking up 16,000m of drilling to JUNE with another 19,500m before the years out ..total est cost 10mill>>and finally today they state they are about to start ....hooray ! about time

-Also in latest ann. don't know if it's new imfo ----
-SUGEC funded drilling, near Martins Shaft in the Uralla area, has recently confirmed the presence of another potentially large IRGS discovery...? So we could now have interest in a fourth IRGS deposit

-Good to see least the selling pressure has stopped now we just need some buyers to turn up >>

[clip]

The announcement didn't really give much tangible info.. how many holes, how deep, where/when they are drilling from memory.. would not expect any buyers to turn up until we get some real info! seemed like a pretty useless announcement to me

[JBmurc]

The announcement didn't really give much tangible info.. how many holes, how deep, where/when they are drilling from memory.. would not expect any buyers to turn up until we get some real info! seemed like a pretty useless announcement to me

I agree clip SOC hasn't been the best P.R wise have seen it many times with tightly held exploration resource stocks like SOC with the top 20-30 Shareholders holding 90% etc of all the shares ...as these 20-30 guys will talk with the company quite often over the year ..I personal do (i.e CVR half doz phone conversions over the last 6 months) I will likely give SOC a call some time soon ....
So I think many times the likes of SOC mgmt are purely thinking about the company and not on keeping ALL Shareholders informed or really marketing the company to new S/H's
I recommend you ring the company if you want some more tangible info ...the JAN presentation does give you a brief outline of the areas to be drilled cost time frame etc

[Bobcat.]

Starting to move upward. I would say that the double bottom at 11c is proving just that, and we shall see a recovery in SOC's sp from here on.

Disc: holding (quite a few, but clearly not as many as JB).

[JBmurc]

Selling depth just disappeared to my 6.9c sell order (which if filled will take up the full 15k @4c ) ...4c close .....interesting times ...would have thought on 2014 performance the CR would have been meet by some selling pressure .....end of the TAX loss selling no doubt July bounce should well be on the cards >>

may well be surprised on CR take-up esp. on some good news aka .SUGEC signing up to another 10mill in exploration or recent drill results...

[JBmurc]

Honestly hope this works out for you JB, can't stand sharks who destroy the sp and others wealth with disregard (a la Snakk!). If it's as good a company as everyone seems to think then it shouldn't stay down long with interest in the CR, a rising gold price and the shark bought out! :)

Yes I agree they have some very good assets ...and so far good drill results ...but funding wise 2014 been a nightmare ...this latest CR might be a turn round in fortunes ,,(HGL underwriting 1m) if SOC can announce some good news before CR final date we should well see 2mill+ raised