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Sovereign Metals (ASX:SVM) - Managing Director, Dr Julians Stephens
Managing Director, Dr Julians Stephens
Source: Sovereign Metals
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  • Sovereign Metals (SVM) has reported exceptional high-grade results from the Kasiya Prospect in Malawi’s Rutile Province
  • The phase three drilling program included 24 shallow, hand-auger holes for 252 metres
  • Interestingly, phase three results have displayed the highest grade and thickest drill intercepts the prospect has seen to date
  • The high-grade results have extended the mineralised zone to a strike length of over 5.5 kilometres
  • Sovereign is now conducting various studies in preparation for a maiden JORC Mineral Resource Estimate later this year
  • Company shares are down 3.13 per cent and are trading for 15.5 cents each

Sovereign Metals (SVM) has reported exceptional results from the Kasiya Prospect which have extended high-grade mineralisation to over 5.5 kilometres of strike.

These drilling results come from a phase three program conducted at the Kasiya Prospect, which is located within Malawi’s Rutile Province.

The Malawi Rutile Province hosts two known discrete rutile mineralisation styles contained in sand and saprolite (soft, friable weathered material) which are both suitable for conventional processing.

Drilling included 24 shallow, hand-auger holes for 252 metres over four drill-lines.

This phase of drilling have displayed the highest grade and thickest drill intercepts the prospect has seen to date.

High-grade rutile was encountered as deep as 14 metres below the surface and has an average thickness of roughly seven to eight metres. The current geological interpretation is that high-grade, free-dig rutile mineralisation should continue vertically to the base of saprolite. However, air core, diamond core or sonic drilling will need to be conducted to confirm this.

“Kasiya is now displaying what we believe to be some of the highest grade, thickest and expansive rutile drill-intercepts globally,” Managing Director Dr Julian Stephens said.

Key results from phase three include 11 metres at 1.37 per cent rutile, including five metres at 1.82 per cent rutile from surface; 13 metres at 1.32 per cent rutile, including four metres at 1.58 per cent rutile from surface; and 14 metres at 1.04 per cent rutile, including four metres at 1.27 per cent rutile from surface.

The high-grade rutile mineralisation remains open along strike in both directions and open laterally to the southeast.

“Kasiya appears to be a truly special discovery within the company’s broader licence package which is emerging as a new, globally significant rutile province,” Julian added.

The company is now preparing all remaining sample batches of drilling at Kasiya to be analysed. Sovereign is also conducting mining and tailings studies for a future scoping study as well as bulk-scale metallurgical test work on a one-tonne sample from Kasiya.

Ultimately, the company is gearing up for a maiden JORC resource estimate for Kasiya which is expected late in the September quarter.

Company shares are down 3.13 per cent and are trading for 15.5 cents each at 3:38 pm AEST.

SVM by the numbers
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