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Sovereign Metals Limited 13.07.2020

Sovereign Metals: Kasiya Extended by Highest Grade Rutile Drilling Results Received to Date

13 July 2020 – Sovereign Metals Limited (“the Company” or “Sovereign”) is pleased to report its highest-grade rutile drilling results achieved to date from Kasiya, the Company’s flagship, large-scale, high-grade rutile deposit in Malawi.

 

Extensional drilling results continue to grow the mineralised footprint toward the south-west and show increasing areas of high-grade rutile from surface. The first infill drilling results demonstrate continuity of high-grade rutile in the central zone and provide greater definition of mineralisation as the Company moves toward a maiden Mineral Resource Estimate.

 

 HIGHLIGHTS

 

-         Phase 5 drilling completed with results including the highest-grade rutile ever drilled at the flagship Kasiya deposit extending known mineralisation to the south west.

 

-         The strike length of high-grade mineralisation has increased by about 1km to a total of ~6.5km with widths of the mineralised envelope ranging up to ~3km.

 

-         Mineralisation continues to remain open along strike to the north, south west, south east and laterally to the east.

 

-         Key Phase 5 extensional drilling results from surface along the south west area include;

-          10m @ 1.53% rutile inc. 6m @ 1.77% rutile inc. 3m @ 2.31% rutile

-          10m @ 1.01% rutile inc. 5m @ 1.05% rutile

-            8m @ 1.01% rutile inc. 4m @ 1.50% rutile

 

-         Infill drilling in the central zone of Kasiya also continues to produce high-grade results from surface and provides further definition on the mineralised envelope. Key infill results include;

-          12m @ 1.26% rutile inc. 8m @ 1.50% rutile

-          11m @ 1.01% rutile inc. 4m @ 1.32% rutile

-          11m @ 1.13% rutile inc. 2m @ 1.76% rutile

-          11m @ 1.07% rutile inc. 5m @ 1.34% rutile

-            8m @ 1.05% rutile inc. 4m @ 1.27% rutile

-          11m @ 0.98% rutile inc. 4m @ 1.61% rutile

-            7m @ 1.16% rutile inc. 3m @ 1.56% rutile

-          11m @ 0.98% rutile inc. 4m @ 1.54% rutile

-            7m @ 1.28% rutile inc. 3m @ 1.37% rutile

 

Sovereign’s Managing Director Dr Julian Stephens commented:

 

We have intersected our highest rutile grades to date at Kasiya in new extensional drilling to the south west. Additionally, our first infill holes at the central zone have also returned high-grades and thick intercepts, as expected. Kasiya is continuing to expand and the Company is looking forward to releasing the maiden JORC resource estimate toward the end of the quarter.”

 

 

Figure 1. Kasiya drill plan showing extents of rutile mineralisation with the new extended areas defined by the Phase 5 extensional and infill drill-holes. Pending holes are also shown.

 

KASIYA EXTENSIONAL & INFILL DRILL PROGRAM – PHASE 5

 

Phase 5 drilling comprised a further 30 (17 extensional and 13 infill) hand-auger holes for 271m total. This brings the total number of holes reported to 109 (Phases 1 through 5 combined).

 

Phase 5 drilling shows the highest-grade rutile results received from Kasiya to date extending the area of the deposit to the south west. These results show the strike length of high-grade mineralisation has increased by about 1km to a total ~6.5km with widths of the mineralised envelope ranging up to ~3km. Mineralisation continues to remain open along strike to the north, south-west, south-east and open laterally to the east.

 

The mineralisation style at Kasiya can be described as eluvial, or otherwise known as a residual placer. This style of mineralisation occurs as flat “blankets” draped across expansive, elevated plateaus that have not experienced any significant erosion. In this way, the mineralisation style has many similarities to bauxite (aluminium ore) having been formed by the same general weathering and volume reduction processes to leave behind the valuable, physically and chemically immobile minerals. The significant difference being that the residual rutile placer mineralisation at Kasiya is naturally unconsolidated, liberated and free-dig, unlike bauxite which generally requires blasting.

 

The current geological interpretation is that high-grade, free-dig rutile mineralisation is likely to continue vertically to the base of saprolite in the areas where holes terminated in mineralisation. The depth of mineralised saprolite can be reasonably assumed from existing geological knowledge to be around 25m from surface. Deeper drilling techniques such as air-core, diamond-core or sonic will need to be employed to confirm this at Kasiya.

 

Key Phase 5 extensional drilling results from surface along in the south west area include;

-          10m @ 1.53% rutile inc. 6m @ 1.77% rutile inc. 3m @ 2.31% rutile

-          10m @ 1.01% rutile inc. 5m @ 1.05% rutile

-            8m @ 1.01% rutile inc. 4m @ 1.50% rutile

 

Phase 5 infill drilling in the central zone continues to produce high-grade results from surface as expected and provides further definition on the mineralised envelope. Key infill results include;

-          12m @ 1.26% rutile inc. 8m @ 1.50% rutile

-          11m @ 1.01% rutile inc. 4m @ 1.32% rutile

-          11m @ 1.13% rutile inc. 2m @ 1.76% rutile

-          11m @ 1.07% rutile inc. 5m @ 1.34% rutile

-            8m @ 1.05% rutile inc. 4m @ 1.27% rutile

-          11m @ 0.98% rutile inc. 4m @ 1.61% rutile

-            7m @ 1.16% rutile inc. 3m @ 1.56% rutile

-          11m @ 0.98% rutile inc. 4m @ 1.54% rutile

-            7m @ 1.28% rutile inc. 3m @ 1.37% rutile

 

 

Figure 2. Cross section 8479200 showing the broad, high-grade mineralisation at surface and a number of holes terminating in high-grade mineralisation at depth.

 

A NEW RUTILE PROVINCE

 

Additional to the flagship Kasiya rutile deposit, numerous other prospects and targets have been identified by the Company. Sovereign believes it has now discovered a potentially globally significant, strategic rutile province across its large Malawi ground holding.

 

The Malawi Rutile Province features two confirmed, discrete rutile mineralisation styles hosted respectively in sand and saprolite (soft, friable weathered material) which are both amenable to conventional processing. Rutile mineralisation identified to date has generally not been spatially constrained by drilling at either of the two main prospects, Kasiya (saprolite) and the Bua Channel (sand). The Company is targeting large resources that could support long-life, large-scale rutile production.

 

 

Figure 3. Map of the broader Kasiya and Bua Channel area showing the multiple rutile deposits, prospects and targets and proximity to the Nacala Rail Corridor.

 

COVID-19 UPDATE

 

Sovereign is maintaining operations in Malawi on a reduced and safe basis. The Company continues to actively evaluate the situation for all risks to employees, communities and general operational safety and will make any required adjustments as the situation evolves, or as required by the Government of Malawi.

 

Link to the original release: https://www.asx.com.au/asxpdf/20200713/pdf/44kgm0g07qzwh1.pdf

 

FORWARD PLAN

 

The ongoing rutile work programs for Kasiya and the Company’s other prospects within the Malawi Rutile Province include;

 

-         Continued analyses and reporting of drill samples over the next four to six weeks ahead of the maiden Mineral Resource Estimate for Kasiya which is on target for late Q3 2020;

-         Step-out and regional drilling at Kasiya and the broader surrounding area to identify extensions and satellite mineralised zones;

-         Bulk-scale metallurgical test-work is well underway on a 1 tonne sample from Kasiya;

-         Push-tube drilling at Kasiya to twin hand-auger holes and to obtain cored samples for specific gravity (SG) determination and initial geotechnical analysis;

-         Mining and tailings studies are ongoing which will feed into a future Scoping Study; and

-         A regional desktop targeting exercise using all available knowledge and datasets is continuing with the goal of discovering more high-grade, Kasiya-like rutile mineralisation further afield.

 

 

Figure 4. Drill plan showing completed Phases 1-5 of reported and pending shallow hand-auger holes at Kasiya.

 

DRILL RESULTS

 

Shallow drilling results from Phase 5 at Kasiya are shown below in Table 1.

Hole ID

Interval Thickness

Rutile %

From (m) Downhole

Comments

Purpose

KYHA0113

4

1.01

surface

open at depth

extensional

KYHA0114

No significant results

hole failed at 5m

extensional

KYHA0127

9

0.59

surface

 

extensional

KYHA0128

3

0.56

surface

 

extensional

KYHA0129

No significant results

hole failed at 5m

extensional

KYHA0130

5

0.66

surface

open at depth

extensional

KYHA0131

9

0.75

surface

 

extensional

incl

4

0.95

surface

 

 

KYHA0132

5

0.94

surface

 

extensional

KYHA0133

10

1.53

surface

open at depth

extensional

incl

6

1.77

surface

 

 

incl

3

2.31

surface

 

 

KYHA0134

11

0.70

surface

open at depth

extensional

KYHA0135

3

0.89

surface

 

extensional

KYHA0136

10

1.01

surface

open at depth

extensional

incl

5

1.05

surface

 

 

KYHA0137

8

1.01

surface

 

extensional

incl

4

1.50

surface

 

 

KYHA0138

3

0.73

surface

 

extensional

KYHA0139

No significant results

hole failed at 1m

extensional

KYHA0140

No significant results

hole failed at 6m

extensional

KYHA0141

6

0.77

surface

 

extensional

incl

2

1.19

surface

 

 

KYHA0198

12

1.26

surface

open at depth

infill

incl

8

1.50

surface

 

 

incl

4

1.67

surface

 

 

KYHA0199

10

0.71

surface

open at depth

infill

incl

4

0.84

surface

 

 

KYHA0200

No significant results

 

infill

KYHA0201

11

1.01

surface

open at depth

infill

incl

8

1.11

surface

 

 

incl

4

1.32

surface

 

 

KYHA0202

5

0.79

surface

 

infill

KYHA0203

11

1.13

surface

open at depth

infill

incl

6

1.22

surface

 

 

incl

2

1.76

surface

 

 

KYHA0204

11

1.07

surface

open at depth

infill

incl

8

1.14

from 3m

 

 

incl

5

1.34

from 6m

 

 

KYHA0205

8

1.05

surface

open at depth

infill

incl

4

1.27

from 4m

 

 

KYHA0206

11

0.98

surface

open at depth

infill

incl

4

1.61

from 7m

 

 

KYHA0207

12

0.79

surface

open at depth

infill

incl

4

1.00

from 8m

 

 

KYHA0208

11

0.96

surface

open at depth

infill

incl

7

1.16

surface

 

 

incl

3

1.56

surface

 

 

KYHA0209

11

0.98

surface

open at depth

infill

incl

4

1.54

surface

 

 

KYHA0210

7

1.28

surface

open at depth

infill

incl

3

1.37

surface

 

 

 

Competent Persons Statement

 

The information in this report that relates to Exploration Results are 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.

 

Link to the original release: https://www.asx.com.au/asxpdf/20200713/pdf/44kgm0g07qzwh1.pdf

 

APPENDIX 1: DRILL HOLE DATA

 

Hole ID

East

North

RL

Depth

(m)

KYHA0113

533199

8477602

1065

4

KYHA0114

534000

8477600

1076

5

KYHA0127

534800

8477603

1087

9

KYHA0128

539604

8477599

1080

8

KYHA0129

535598

8477603

1081

5

KYHA0130

536475

8477646

1078

5

KYHA0131

536728

8477601

1084

9

KYHA0132

536799

8477201

1087

8

KYHA0133

537200

8477201

1091

10

KYHA0134

537599

8477203

1089

11

KYHA0135

537960

8477198

1082

11

KYHA0136

536779

8476794

1093

10

KYHA0137

537191

8476799

1095

11

KYHA0138

537592

8476800

1092

12

KYHA0139

538001

8476804

1086

1

KYHA0140

538400

8476800

1085

6

KYHA0141

536400

8476798

1090

10

KYHA0198

541000

8479200

1112

12

KYHA0199

541400

8479200

1117

10

KYHA0200

541800

8479200

1117

8

KYHA0201

539000

8479202

1093

11

KYHA0202

539399

8479198

1094

13

KYHA0203

539800

8479201

1094

11

KYHA0204

540200

8479199

1096

11

KYHA0205

540598

8479202

1105

8

KYHA0206

539000

8480000

1091

11

KYHA0207

539400

8480000

1094

12

KYHA0208

539800

8480001

1097

11

KYHA0209

540200

8480002

1099

11

KYHA0210

540602

8480000

1101

7

* All holes were vertical.

 

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