Drilling Significantly Increases Area of Very High-Grade Rutile at Kasiya
Sovereign Metals Limited (the Company or Sovereign) is pleased to announce Phase 8 drill results from Kasiya, the Company’s flagship, large, high-grade rutile deposit in Malawi. This substantial batch of 70 drill-holes, located within the extensive 66km2 mineralised footprint, has further extended, and defined the very high-grade zones.
HIGHLIGHTS
- Phase 8 drilling has established further broad zones of very high-grade rutile from surface, within the existing 66km2 mineralised envelope at Kasiya
- Phase 8 results display numerous areas with greater than 1.5% rutile in the top 3-5m from surface. Results include:
- 13m @ 1.47% inc. 4m @ 1.71% rutile
- 7m @ 1.28% inc. 4m @ 1.52% rutile
- 12m @ 1.24% inc. 3m @ 1.67% rutile
- 8m @ 1.21% inc. 4m @ 1.50% rutile
- 8m @ 1.19% inc. 4m @ 1.51% rutile
- 8m @ 1.08% inc. 3m @ 1.72% rutile
- 11m @ 1.13% inc. 5m @ 1.65% rutile
- 12m @ 1.33% inc. 5m @ 1.64% rutile
- 8m @ 1.29% inc. 3m @ 1.63% rutile
- 11m @ 1.23% inc. 5m @ 1.51% rutile
- 11m @ 1.20% inc. 4m @ 1.60% rutile
- 10m @ 1.00% inc. 3m @ 1.58% rutile
- 8m @ 1.29% inc. 3m @ 1.63% rutile
- The new results show well defined, very high-grade rutile zones with good continuity collectively forming a substantial central high-grade area that has now been drilled at generally 400m x 400m spacing
- Resource definition drilling at Kasiya and regional exploration drilling is ongoing with multiple drill and sample processing teams active at Kasiya and other regional prospects
- The analysis of numerous batches of Kasiya and regional drilling samples is well advanced with a further number of batches expected over the coming weeks
- These drill results, along with additional further wide-spaced drilling yet to be reported, will be incorporated into the maiden MRE for Kasiya which is expected in Q2
Figure 1. Drill plan of the central high-grade zone at Kasiya showing % rutile contours over the top 8m for each drill-hole.
Sovereign’s Managing Director Dr Julian Stephens commented:
“This drilling has served to increase and further define the very high-grade, near surface rutile zones occurring within a central core area where drilling is at 400m x 400m spacing or closer. These areas will be targeted for further, near-future infill drilling and metallurgical variability test-work in order to support our maiden Mineral Resource Estimate and Scoping Study. Kasiya is shaping up to be a very large, high-grade rutile deposit that may well become one of the largest primary rutile deposit in the world.”
ENQUIRIES
Dr Julian Stephens (Perth)
Managing Director
+61(8) 9322 6322
Sam Cordin (Perth)
+61(8) 9322 6322
Sapan Ghai (London)
+44 207 478 3900
KASIYA DRILLING – PHASE 8
The Phase 8 drilling results reported comprise a further 70 hand-auger holes for a total of 725m. With the inclusion of Phase 8, the total number of holes reported from Kasiya to date is now 303 with 3,023m drilled.
These results have increased and further defined the high-grade, near surface rutile zones within on the northern and eastern sides of the core central area at Kasiya, internal to the 66km2 mineralised envelope. The results show well defined, very-high-grade rutile mineralised zones from surface with the majority occurring within a ~2.5km radius from a central point, having been defined by nominally 400m x 400m drilling.
These high-grade areas will be targeted for additional infill drilling and metallurgical variability test-work in order to form the basis of our Scoping Study, planned for later in 2021.
The Phase 8 drill results continue to show high-grade rutile from surface to as deep as 16m across the extensive mineralisation footprint.
Significant rutile enrichment occurs in the top ~8 metres from surface with very-high grades, generally greater than 1.5% rutile occurring in the top 3-5m from surface. In most cases, drill depth was restricted by the hand-auger drilling equipment capacity and it is assumed that free-dig rutile mineralisation should continue vertically to the base of saprolite estimated at approximately 25m depth from surface.
Figure 2. The central zone at Kasiya showing selected significant intercepts received from Phase 8 drilling.
Figure 3. Map showing the entire 66km2 mineralised footprint at Kasiya
CONCLUSIONS & FORWARD PLAN
The Phase 8 drill results now complete the drilling of the ~30km2 central core zone of mineralisation at Kasiya to a drill spacing of 400m x 400m or closer which are expected to be included in the upcoming MRE.
The Company’s objective is to delineate a large rutile resource that could support a long-life, large-scale rutile mining operation.
Sovereign has also achieved exceptional outcomes from its 2020 rutile metallurgy program. Premium chemical and sizing parameters were produced with over 98% recovery, via simple, conventional “off the shelf” processing methods. This continues to consolidate our view that we have discovered a potentially globally significant rutile deposit at Kasiya in Malawi that forms part of a new rutile province.
Ongoing work programs for Kasiya and the other prospects within the Company’s large ground package include;
- A maiden Mineral Resource Estimate for Kasiya, expected to cover approximately half of the extensive 66km2 mineralised footprint;
- Continued step-out and extensional drilling at Kasiya and the broader surrounding area to identify extensions, bring further mineralisation into a MRE and discover new regional mineralised zones;
- Mining and tailings studies continue and will feed into a future Scoping Study;
- Metallurgical variability test-work planned for three separate samples representative of different regolith units at Kasiya;
- Continued engagement with potential rutile off-takers, particularly those in the pigment industry from which highly favourable feedback on chemical and physical specifications has already been received;
- Investigation and further test-work for a potential coarse-flake graphite by-product from Kasiya; and
- Re-examination of the Company’s Malingunde Graphite Project in light of renewed market interest for graphite, particularly related to sustainability and EVs.
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Competent Person’s Statement
The information in this report that relates to Exploration Results is based on information compiled by Dr Julian Stephens, a Competent Person who is a member of the Australian Institute of Geoscientists (AIG). Dr Stephens is the Managing Director of Sovereign Metals Limited and a holder of ordinary shares and unlisted options in Sovereign Metals Limited. Dr Stephens has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr Stephens consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Forward Looking Statement
This release may include forward-looking statements, which may be identified by words such as "expects", "anticipates", "believes", "projects", "plans", and similar expressions. These forward-looking statements are based on Sovereign’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Sovereign, which could cause actual results to differ materially from such statements. There can be no assurance that forward-looking statements will prove to be correct. Sovereign makes no undertaking to subsequently update or revise the forward-looking statements made in this release, to reflect the circumstances or events after the date of that release.
This ASX Announcement has been approved and authorised for release by the Company’s Managing Director, Julian Stephens.
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