Sovereign was admitted to the Official List of the ASX on 3 December 2010.
Sovereign was initially created to investigate and develop findings from the 2003 Geophysical Survey, QN114 conducted by the Geological Survey NSW. This survey demonstrated that the historical hard rock gold workings in the Rocky River-Uralla Goldfields were derived from magmatic fluids and could therefore represent a much larger IRGS gold mineralised system, raising the possibility that undiscovered lodes should be present. This same philosophy was applied to the recent acquisition of a controlling interest in Gossan Hill Gold Company in early 2013 and the subsequent drilling and discovery of the world-class Hobbs IRGS gold deposit.
Leading specialist in IRGS exploration
Sovereign Gold is a leader in the exploration of IRGS in Australia, led by geologists who are the leading experts in discovery of these new gold systems. Sovereign Gold has identified several high priority targets for drilling through the application of the exploration team’s new understanding of the gold mineralisation controls within these large systems.
Exploration Philosophy and Business Model
Sovereign Gold has a strong Board and Management team with an effective mix of governance, commercial and technical experience, supported by a highly regarded and experienced Geological team and a strong Corporate Advisory team. We have a strategic JV at the project level with Chinese SOE SUGEC. Sovereign Gold has a low cost business model of tenement identification and acquisition, and to assess beneficial partnerships to accelerate exploration and progress to development, feasibility studies and mining through potential JV funding.
While both the Uralla and Mt Adrah/Adelong areas have been subjected to a significant amount of historical gold mining activity, neither has been subjected to the application of modern exploration techniques and theories. IRGS are a new gold deposit class only formerly recognised in 1999. The IRGS exploration target for large, low grade gold deposits has led to a geological re-think in many areas around the world. As such, both the Uralla and Adelong areas appear to have the necessary geological ingredients for such deposits. Sovereign Gold recognised the potential for these areas to host large IRGS gold accumulations and early exploration has uncovered the discovery of potentially large IRGS deposits in both regions. Effectively the shallow gold mineralisation, which was the subject of historical exploitation, is merely a pointer to deeper IRGS mineralisation identified through the new IRGS geological models.
last updated 30/06/2016