Australian (ASX) Stock Market Forum

CRR - Critical Resources

Jump to new
System

System

Joined
27 June 2010
Posts
4,318
Reactions
364
Sovereign Gold Company (SOC) is an Australian-based exploration and development company initially incorporated as a wholly owned subsidiary of ASX listed company, Hudson Resources Limited (HRS). Sovereign was created to develop findings of the 2003 Geophysical Survey, QN114 conducted by the GSNSW which showed that the hard rock gold workings in the Rocky River-Uralla Goldfields (on which the Sovereign Project Tenements are located) are derived from magmatic fluids and could therefore represent a much larger mineralising system, raising the possibility that undiscovered lodes should be present.

http://www.sovereigngold.com.au
 
For those looking for a spec goldie, SOC could fit the bill nicely. Martin's Shaft and Fraser's Find are particularly interesting and, I think, warrant further investigation.

About SOC and their projects.

Nine Exploration Licences covering 2,700 square km.
Excellent Logistics for Operating Environment: Located 21km south-west of Armidale, N.S.W.
Superb infrastructure logistics, close to major sealed roads, rail, airport, labour source, University, water, power, engineering, foundries and other key services etc.
Positive landowner relations.
Open access: predominately grazing country for fine wool and cattle.
Low impact, continuous rehabilitation exploration methods.

IRGS are a newly-defined (1999) deposit classification, hence opportunity overlooked by previous explorers.
“Many systems overseas typically contain greater than 3 Moz.” Blevin, World Expert, 2005, Geoscience Australia.
IRGS – Host to the some of the largest recently discovered gold systems – Donlin Creek Alaska, <30 million ounces of Gold.
Extensive research has defined numerous diagnostic IRGS characteristics in Sovereign Gold’s Project - when you find a new IRGS you have a high probability of finding +1Moz gold (Au).
Exploration, although early stage, has confirmed Sovereign Gold has discovered a very large IRGS. Never explored in modern times and never drilled prior to Sovereign Gold.

Martins Shaft
•The mineralisation comprises sheeted veins and disseminated gold mineralisation within a felsic dyke and confirms the potential of the large IRGS to host several primary hard rock gold deposits.
•Diamond Drill Hole SGRDD002: 22metres @ 3.28 g/t gold from 18-40 metres downhole including 10 metres @ 6.06 g/t gold from 27-37 metres downhole and 2 metres @ 18.85 g/t gold from 35-37m metres downhole.
•Shallow, open-pittable mineralisation.
•Diamond Drill Hole SGRDD004: 18 metres @ 3.51 g/t gold from 52-70 metres downhole, including 7 metres @ 7.47 g/t gold from 57-64 metres downhole and 1 metre @ 19.60 g/t gold from 58-59 metres downhole.

Frasers Find
Several High Priority Drilling Targets Identified
•High gold and silver grades in mineralised structure over 250 metres long
•Silver up to 1,790 g/t – 1.79 kilograms/57.69ounces
•Gold up to 76.9 g/t (2.47 ounces)
•Lead up to 5.95%

Melvaines Mine
•Martins Shaft Style mineralisation.
•Gold grades up to 13.75 grams per tonne associated with sheeted veins in dyke.
•Walk-up drill target – mineralisation exposed at surface.

Sueys Claim-Hudson/McCrossins
•Large mineralised structure (fault/shear zone) with multiple shaft and pits that extends north-east for over 600 metres.
•Mineralisation analogous to the 30 million ounce Donlin Creek Intrusion-Related Gold System (IRGS).
•Sheeted veins and disseminated mineralisation in felsic dykes, metasediments and volcanics.
•Mineralised widths up to 65 metres as indicated by shafts and costeans.
•Recent assays of mineralised dykes and sheeted veins up to 3.67 g/t gold.
•Felsic dyke, up to 1 metre wide, at Sueys Claim had patchy gold grades up to 2.1 oz/ton according to historical records (Department of Mines New South Wales, Annual Report for 1895, 162-165)
•Conceptual target for the 600 metre long mineralised structure is bulk open-pittable, around 1 g/t

Diggers Shaft
•Samples of sheeted veins collected from waste piles beside Diggers Shaft assayed up to 2.39 grams per tonne gold, 3.76 ounces per tonne silver and 0.85% lead per tonne.
•At surface, walk-up drill target – mineralisation exposed at surface.





Sovereign Gold Purchased MAC200 Diamond Drill Rig Several High Priority Drilling Targets Identified
•Small footprint environ-friendly Drilling Rig
•Drilling is the single largest cost in exploration but also the best methods to rapidly add shareholder value.
•Test drilling has established cost per metre of diamond core will be 30-40% of contracted services.
•Through being self sufficient Sovereign can substantially reduce cost whilst rapidly testing its multiple drill targets.

36 Targets Identified in High Resolution Airborne Magnetic and Radiometric Survey
•High resolution data enabled target identification through processing enhancements using a range of specialist filters and software. Peter Gidley, Eureka Geophysics.
•Identification of conduits for gold-bearing magmatic fluids over several square kilometres.
•36 targets ranked through a combination of geophysics anomalism, structure, alteration, geology and known gold mineralisation
•Some targets similar response and setting to Martins Shaft or other gold occurrences.

Geophysics Reveals Potential Location of Browns Reef
•Browns Reef is a ‘lost gold’ mine.
•Government records state the reef was 3 kilometres long and yielded up to 2.3 ounces per tonne.
•The estimated location of Browns Reef coincides with a distinct kilometres long north-east . Anomaly 31 may be part of Browns Reef. High Priority Target.

SOC ticks alot of boxes for me. Small cap with minimal share allocation, minimising costs, good grades, close to surface, more targets than you can poke a stick at. So much upside in this.
 
Sovereign Gold Company Limited Proposed Takeover Offer for Precious Metal Resources Limited

The Board of Sovereign Gold Company Limited advises that it has entered into a binding Takeover Bid Implementation Agreement with Precious Metal Resources Limited (PMR).
Subject to the terms of the TBIA, Sovereign Gold proposes to acquire all PMR ordinary shares not currently held by Sovereign Gold by way of an off‐market takeover bid. Sovereign Gold is offering nine of its ordinary shares for every ten ordinary shares in PMR.
The bid is subject to a number of conditions including an 80% minimum acceptance condition.
The full set of conditions is set out in schedule 1 to the TBIA, a copy of which is attached.
This offer, which implies a value of 25.2 cents for the PMR shares, represents an attractive 14.55% premium over the closing trading price of 22.0 cents for PMR; based on the closing price of 28.0 cents for Sovereign Gold shares on Monday, 9 July 2012

http://www.asx.com.au/asxpdf/20120710/pdf/427b9q3s0ptd8f.pdf
 
Frasers Find Exploration Results
Drilling at Frasers Find Intersects Mineralisationover 200 Metres of Strike Length

Sovereign Gold announced that it had located the original shaft at Frasers Find on EL 6483 in the Rocky River–Uralla Goldfield in March 2012.
The first phase exploration program was recently completed with drilling intersecting gold mineralisation along 215 metres of strike of the lode. Further drill holes are planned to follow the extensions of strike. Costeaning has exposed mineralisation for 305 metres along strike, still open at both ends. This structure is a large gold-bearing target.
The main shaft at Frasers Find is situated 2.8 kilometres northeast of Martins Shaft further confirming the large scale of the newly identified Rocky River–Uralla Intrusion-Related Gold System (IRGS).
The mineralisation is widening in the direction of the predicted fluid source (small interpreted blind pluton indicated by coinciding subcircular magnetic and radiometric anomalies). Diamond hole SGRDD032, closest to presumed interpreted blind pluton, encountered sulphide-rich alteration veins extending intermittently down hole in granodiorite from 20.8-54.7 metres (end of hole), showing that ground fracturing and migration of gold-bearing fluids is intensifying to the south-west along strike toward the interpreted mineral-bringing pluton. The main mineralised lode intersected in all holes is around 1 - 2 metres wide and portions of this are associated with large percentages of sulphides similar to the high-grade mineralisation assayed from dumps (up to 2.47 ounces of gold, 1.79 kilograms of silver and 5.95% lead per tonne) adjacent to the main Frasers Find Shaft.
Several drill holes are currently being assayed and results are expected in 2-3 weeks.

Regional Portfolio Expansion
Exploration Licences and Exploration Licence Applications

Sovereign Gold has identified underexplored mineral fields considered highly prospective, especially for gold and copper and lodged an Exploration Licence Application (ELA) over each of them.
Many of these mineral fields have received little or no exploration over the last 40 years. In many cases new understanding of the mineral forming systems combined with modern exploration techniques (such as airborne geophysics) will test mineral endowment. Sovereign Gold’s objective is to discover an economic deposit in one or more of these areas.
ELA 4645 and ELA 4648 are adjacent to EL 7770 that is host to VMS polymetallic (especially copper) mineralisation.
VMS deposits of this type may vary in size from <1 million tonnes to over 100 million tonnes and represent an extremely worthwhile target. (Blayden, Geological and Management Services Pty. Ltd, 2007).
Very little modern exploration has been conducted within the application areas. The principal objective is to develop geological models to interpret the formation and scale of the hard rock gold, base metal and antimony mineralisation within the ELAs with the ultimate aim of drilling selected areas to JORC resource standards. Sovereign Gold has developed a specialist team for exploration of Intrusion-Related Gold Systems (IRGS) that can evaluate the presence of diagnostic IRGS characteristics and locate structural and magmatic controls on gold deposition.
Sovereign Gold’s core activity is exploring the large IRGS of the Rocky River-Uralla Gold System. These new applications are a synergistic extension of that activity.
 
I do not have a stake in this, but the last 2 announcements from SOC caught my eye.

July 17th

Major new gold deposit confirmed by assays at Hobbs Pipe 1, Mount Adrah
• 284m @ 1.2g/t Au from 292m – 576m
o Including: 104m @ 1.6g/t Au from 292m – 396m
o Including: 50m @ 1.9g/t Au from 300m -350m
• Initial Mt Adrah Hobbs Pipe 1 assays received within expected range, confirm company’s concepts and targets
• These results provide a clear picture of the grade of mineralisation to 576 metres
• Assay results from the rest of the hole, 0m - 284m and 576m to 1,029.6 metres, are pending and will be reported as received, potentially extending the mineralised intercept to beyond 600m

July 23rd

World-class gold intercept continues to grow at Mount Adrah
• Continuous assayed intercept now 478m @ 1.2g/t Au; expected to increase further
• 194m @ 1.3g/t Au from 576m – 770m
o Including: 96m @ 1.6g/t Au from 622m – 718m
o Including: 42m @ 1.8g/t Au from 674m – 716m
• Mt Adrah Hobbs Pipe 1 assays within expected range, continue to confirm company’s concept and target
• These results provide a clear picture of the grade of mineralisation to 770 metres
• Assay results from the rest of the hole, 0m - 292m and 770m – 1,029.6 metres, are pending and due by the end of July
• Metallurgical testing underway by ALS Burnie to validate historical results
• Next Deep Diamond Drill Hole (GHD004) underway to test width of mineralised Mt Adrah Hobbs Pipe 1
 
On January 3rd, 2017, Sovereign Gold Company Limited (SOC) changed its name and ASX code to Force Commodities Limited (4CE).
 
4CE up 56% today to 2.8c. Announcement came through earlier today

Heads of Agreement executed with Mining Mineral Resources SPRL (MMR) to establish the new, production focused, Kanuka Lithium Project Joint Venture

Force Commodities Ltd (Force or the Company) (ASX Code: 4CE) is pleased to announce that it has executed a Binding Heads of Agreement (HOA) with Mining Mineral Resources SPRL (MMR) to establish a new lithium production focused joint venture, the Kanuka Lithium Project Joint Venture.

The Kanuka Lithium Project Joint Venture, to be held 51% by Force and 49% by MMR will focus on two contiguous licenses: granted Mining License PE13082 and Exploration License PR4100.

These licenses cover an area of approx. 194km² and are located 20km east of the Company’s existing Kitotolo Lithium Project which is a joint venture with La Congolaise d’Exploitation Miniere (Cominiere SA). The licenses are also located on the licenses immediately south (approx. 4km from the license boundaries) of AVZ Mineral’s (ASX:AVZ) ‘world-class’ Manono Lithium Project.
Click to expand...

No idea where this one is going but with a relatively small market cap of under $20 million, it will all depend on the drilling results. This is one for the speculators.
 
Force Commodities has executed a Binding Heads of Agreement with Walni Mineral Company SARL to acquire a majority interest in the Kitotolo West Lithium Project in the Democratic Republic of Congo. The Kitotolo West Lithium Project is located immediately west and contiguous to the Company's Kitotolo Lithium Project.

Here are the details of the acquisition:
Under the HOA, Force will fund a minimum US$1.0m of exploration expenditure over the next 12 months, and further annual exploration expenditures of US$1.0m for the subsequent two years. Force will be required to pay the following cash and share based consideration to WAMICO as vendor and African Arch Capital (Mauritius) Ltd (AAC) who have relinquished their previous rights over the license area:

a) US$150,000 to WAMICO on execution of binding HOA;

b) US$100,000 to WAMICO on completion of the technical and legal due diligence and election to proceed with the Kitotolo West Lithium Project Joint Venture, to be settled in cash or shares in Force at WAMICO's option;

c) issue A$400,000 of ordinary shares in Force to AAC after election to proceed and on execution of all relevant Joint Venture documentation and associated agreements and obtaining all necessary regulatory approvals;

d) issue A$600,000 of ordinary shares in Force to AAC on completion by Force of its initial exploration program confirming, amongst other things, the presence of lithium bearing mineralisation within the fresh pegmatites and the formal approval by the Force Board to commit to further exploration activities and resource definition drilling on the Kitotolo West Lithium Project.

In addition, Force may elect to increase its interest in the Kitotolo West Lithium Project from 65% to 75% by issuing to WAMICO a further US$500,000 of ordinary shares in Force, at any time prior to a decision to mine.
Click to expand...

4CE up 10% so far today on the news. Looks like it could be heading back to 10c in the near term.

big.chart.4CE.gif
 
Another update today > http://www.aspecthuntley.com.au/doc...lc2lnbmFsL2Vycm9ycGFnZXMvcGRmZGVsYXllZC5qc3A=

Phase 1 AC/RC drilling program advancing at the Kitotolo-Katambo Lithium Project progressing well with 3,200m of drilling completed to date

70 shallow holes completed to date targeting lithium mineralisation hosted in LCT pegmatites, defined by the Company’s earlier trenching and test pitting work

Passive seismic survey work ongoing and being used to assist in targeting pegmatites beneath cover

Phase 1 drilling program proposed to comprise ~15,000m of reverse circulation drilling and a subsequent program of ~1,000m of diamond drilling

First batch of drilling samples is being prepared for dispatch to Lubumbashi for sample preparation and then on to Johannesburg for assay
 
Welcome back :D

All lithium assay results now received from the Company’s Phase 1 RC drilling program conducted at the Kanuka Lithium Production Project.
▪ Assays confirm the presence of widespread, from-surface, multiple stacked and parallel, high grade lithium mineralised pegmatites.
▪ Assays confirm the Kalombo Mushwima Prospect to be highly prospective, less than 2km west of the current opencast tin and tantalum mining operations of the Company’s joint venture partner.
▪ Significant intersections include:
▪ 23m at 0.89% Li2O from 30m, including 3m at 1.82% Li2O from hole KLJV018
▪ 10m at 1.16% Li2O from 24m, including 7m at 1.38% Li2O from hole KJV006
▪ 5m at 1.07% Li2O from 3m from hole KLJV011
▪ 3m at 1.10% Li2O from 1m, 5m at 1.15% Li2O from 14m and 2m at 0.99% Li2O from 58m and ending in mineralisation from hole KLJV044
▪ 6m at 1.09% Li2O from 24m and 6m at 1.18% Li2O from 34m from hole KLJV017 ▪ 4m at 0.93% Li2O from 18m and 7m at 1.37% Li2O from 39m from hole KLJV007
▪ 6m at 1.00% Li2O from 48m and 9m at 0.97% Li2O from 52m and ending in mineralisation from hole KLJV019
▪ 3m at 0.90% Li2O from 15m and 9m at 0.97% Li2O from 52m and ending in mineralisation from hole KLJV008
▪ 7m at 1.28% Li2O from 52m, including 1m at 2.13% Li2O ending in mineralisation from hole KLJV036 ▪ 3m at 1.04% Li2O from 8m and from hole KLJV045
▪ 10m at 0.79% Li2O from 10m, including 6m at 1.13% Li2O and 4m at 0.88% Li2O from 26m from hole KLJV038
▪ Results prove the potential of the Kibaran stratigraphy within the Kanuka Lithium Production Project area to host significant pegmatite-hosted lithium mineralisation.
▪ Assay results confirm the potential for higher grade lithium mineralisation at depth, which is to be targeted in the next phase of drilling.

http://www.aspecthuntley.com.au/doc...lc2lnbmFsL2Vycm9ycGFnZXMvcGRmZGVsYXllZC5qc3A=

Looks like a half decent day for trading :)
 
Market seems to like this announcement, that seems pretty pedestrian to me. A pump and dump maybe?

FORCE SIGNS BINDING OFFTAKE AGREEMENT WITH TRANSAMINE TRADING SA
  • Force signs binding offtake agreement with Swiss-based Transamine Trading SA for all lead and silver production from its recently acquired high-grade Tshimpala Project in Malawi

  • ransamine Trading SA is an independent and privately held global commodities trading group headquartered in Geneva and specializing in non-ferrous raw materials

  • Under the terms of the binding offtake agreement Transamine Trading has agreed to purchase 100% of lead and silver production from the Tshimpala Project in a multi-year contract

  • Force is also pleased to confirm that it is currently finalising arrangements with a global logistics company in regards to a fixed price contract for the transportation and associated handling of 100% of lead and silver production from the Tshimpala Project in Malawi and proposed to be exported through the Port of Beira in Mozambique and onto major ports in Asia
Screen Shot 2019-07-17 at 11.58.25 am.png
 
Just had a look at their balance sheet and it's abysmal. They had $40k in the bank in their last quarterly and raised $350k in May for due diligence on the above project and working capital. This looks to be a day to day proposition.
 
kennas said:
Just had a look at their balance sheet
Click to expand...

Did the same thing and had a look at the cash …. The recent $350,000 cap raise was done to Soph's at 0.009 cents with attached Options (I wonder if they are tripling their cash selling into the current spike:cautious: Their Project acquisition might turn out ok at a glance but they are definitely going to need to find more cash down the track.

It doesn't look inspiring on face value ….. probably run to 5 cents now I've said thato_O
 
This company has a long history of talking up potential and then failing to deliver results , plenty of volume might be a short term opportunity?
 
Top