 Company Overview
Sovereign Metals Limited (”Sovereign”) is a copper, gold and uranium
exploration company based in Perth, Western Australia. The Company
commenced trading on the Australian Stock Exchange (ASX Code “SVM”)
in January 2007 after a successful IPO.
Sovereign’s primary business objective is to create shareholder wealth
through participation in the prospective Carpentaria Joint Venture in North
West Queensland. This is an exploration joint venture targeting copper
and is located in close proximity to the Rocklands Project from which significant
intersections of copper mineralisation have recently been announced.
The Carpentaria
Joint Venture includes six tenements that cover approximately 635 square
kilometres to the North, the West and the East of the Rocklands Project. Mount
Isa Mines Limited (“Xstrata Copper”) and
Sovereign are contributing to ongoing exploration on a 51%/49% basis, with
Sovereign contributing approximately $2.1 million towards exploration over
the next two years.
The Carpentaria Joint Venture is managed by Xstrata Copper. An
extensive drilling program has commenced in late 2006 and focus on anomalies
identified by recent geophysical surveys. The area is considered to
have excellent potential for discoveries of copper mineralisation.
Sovereign
also holds interests in nine other Tenements, providing the Company with
four project areas in the Cloncurry-Mount Isa area in northwest Queensland. This
total ground position comprises eight exploration permits for minerals and
seven exploration permits for minerals applications covering 2,037 square
kilometres. This tenement portfolio represents a substantial holding
in a highly sort after and historically successful mineral region.
The Board
of Sovereign includes Directors experienced in the resources industry and
the Company’s technical team has experience in mineral exploration.
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