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- Sovereign Metals (SVM) has started an air-core drilling program to test at least three rutile prospects in Malawi
- A total of 45 holes for roughly 1000 metres is planned across three targets to test the extent of rutile mineralisation
- Previous drilling in the area has shown it is highly prospective for rutile mineralisation
- First results from air-core drilling are expected towards the end of January 2020
- Sovereign’s shares have gone up 19.3 per cent today and are trading for 10.5 cents each
Sovereign Metals (SVM) has commenced an air-core drilling program which will test at least three prospects in Malawi.
A total of 45 holes for approximately 1000 metres is planned across three targets to test the extent and tenor of rutile mineralisation at depth.
“This is a really exciting time for Sovereign with our exploration work continuing to uncover multiple new zones of rutile mineralisation,” Managing Director Dr Julian Stephens said.
Sovereign is following up initial high-grade, shallow drilling results from the Railroad prospect reported on November 6.
High-grade results from the previous drilling included 6 metres at 1.25 per cent rutile, 5 metres at 1.16 per cent rutile, and 13 metres at 1.08 per cent rutile.
So far, the company has successfully shown that a high-quality rutile product with 96 per cent titanium dioxide can be produced using conventional mineral sands methods from its saprolite ore.
The rutile product produced met or exceeded typical market specifications at a recovered rutile grade of 1.16 per cent.
Sovereign has high hopes for the area and considers it to be highly prospective.
“Overall, we believe we are not only looking at a few potential deposits here, but rather a new, and possibly globally significant rutile province,” Dr Julian added.
It is expected that the first results from air-core drilling will be available towards the end of January 2020.
Sovereign’s shares have gone up 19.3 per cent today and are trading for 10.5 cents each at 11:04 am AEDT.
