TA ....SOC Sp has broken from a bull flag consolidation pattern that formed above the long term down trend line subsequent to a big run in July after exciting drilling results....Drilling is supportive of their concept of a potentially world-class Intrusion-Related Gold System (IRGS) discovery at their Mt Adrah Hobbs Gold Project.....
Buy / Sell is looking good ...at time of writing.... 53 buyers for 3,307,999 units / 23 sellers for 671,203 units
Strong buying lately with line wipes...
RSI, MACD, Stoch all pointing up....
FA...
Sovereign Gold acquired an 87% interest in Gossan Hill Gold Limited (Gossan Hill) in early 2013 uncovering a potentially world-class Intrusion-Related Gold System (IRGS) discovery.
Spectacular results from Drilling at Hobbs Pipe 1 include – Higher grade zone of 178m @ 2.0 g/t Au from 400m – Included within a strongly mineralised intersection of?? 826m @ 1.3 g/t Au from surface, also including 408m @ 1.6 g/t Au from 400m – Hole ended at 855.9m
Hobbs Pipe 1 (one of the smallest) having a conceptual resource of 3.2 - 4.6Mozs already....
Big interest has been aroused by the recent announcement of gold discovered in the nearby and much bigger Castor prospect (10m @ 17.7g/t Au)...increasing the conceptual target expotentially....with five more large targets to be drill tested, results due soon, plus a 100percent strike rate so far in proving up their concept of a potential world class IRGS system....SOC is set up for a rerate
Mount Adrah is the major driver at thre moment but SOC has other irons in the fire....(with thanks to vontrader)....
$21M JV with Jiangsu - whereby they spending $21M on exploration across 10 tenements for a 30% farm in - they've already purchased a deep drilling rig, flown VTEM's and are conducting $2M of drilling currently on EL7491
80% holding in PMR - has some pretty interesting looking tenements, especially that Gibson lode with:-
17.68m @ 4.18%Cu, 15.21%Pb, 24.02%Zn, 197.19g/t Ag 15.24m @ 2.84%Cu, 8.84%Pb, 18.70%Zn, 482.3/t Ag 6.25m @ 3.63%Cu, 14.61%Pb, 21.59%Zn, 352.3g/t Ag 8.86m @ 2.61%Cu, 8.17%Pb, 14.4%Zn, 201g/t Ag
Other 100% owned tenements - such as their EL6483 which is yet to be farmed out but has some nice high grade hits from surface such as:-
