Hand-auger drilling team Source: Sovereign Metals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Sovereign Metals (SVM) begins its pre-feasibility study (PFS) drill program at its Kasiya rutile project in Malawi
  • The company will complete a 10,000-metre air-core drilling program to extend indicated zones of saprolite at depth for the upcoming PFS
  • In addition, SVM will also undertake a core drilling program across Inferred areas in an attempt to upgrade resources into the indicated and measured categories
  • Simultaneously, extensional and hand-auger drilling will continue with an aim to expand the overall mineralised footprint of the project
  • Shares are trading down 1.82 at 54 cents each at 1:11 pm AEST

Sovereign Metals (SVM) has begun its pre-feasibility study (PFS) drill program at its Kasiya rutile project in Malawi.

A number of drilling techniques will be undertaken to expand and upgrade the company’s resources, ahead of the upcoming PFS.

A 10,000-metre air-core drilling program will be conducted to extend Indicated zones of saprolite at depth.

The indicated zones are expected to convert to Probable Reserves in the PFS.

In addition, SVM will also undertake a core drilling program across inferred areas in an attempt to upgrade resources into the indicated and measured categories.

Simultaneously, extensional and hand-auger drilling will continue with an aim to expand the overall mineralised footprint of the project.

Meanwhile, an updated scoping study is due in the coming weeks and will incorporate the “significant” increase in mineral resource estimate (MRE) tonnage.

Shares were trading down 1.82 per cent at 54 cents each at 1:11 pm AEST.

SVM by the numbers
More From The Market Herald
The Market Herald Video

" Dateline Resources (ASX:DTR) releases MRE for Colosseum project, California

Shares in Dateline Resources (ASX:DTR) have spiked in early trade after the company released a fresh…

" ResApp (ASX:RAP) receives FDA clearance for SleepCheckRx

ResApp (ASX:RAP) receives 510(k) clearance from the US Food and Drug Administration (FDA) for its at-home…

" Galileo Mining (ASX:GAL) raises $20.4m to expand drilling at Callisto

Galileo Mining (ASX:GAL) raises $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in…
The Market Herald Video

" Strike Energy (ASX:STX) and Talon Energy (ASX:TPD) to commence flow testing at Walyering-6, WA

Joint venture (JV) partners Strike Energy (ASX:STX) and Talon Energy (ASX:TPD) are gearing up to begin…