Announcement Date: 2021-11-22
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Sovereign Metals Ltd.
Project name: Kasiya
Location: Malawi
Commodities: Rutile
Highlight: Drilling results incl. 14.0m @ 1.13% Rutile from 0.0m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Sovereign Metals Limited (the Company or Sovereign) is pleased to report results from its recent infill core drilling program at Kasiya, the Company’s flagship, large, high-grade rutile deposit in Malawi. These results will underpin the pending upgrade of the Mineral Resource Estimate (MRE) which will target conversion of Inferred resources to the higher confidence Indicated category to feed into the upcoming Scoping Study. The core drilling program was completed at the Kasiya rutile deposit from July to September 2021. The program targeted high-grade zones of the existing Inferred MRE with the objective of upgrading these areas into the Indicated category in order to underpin the upcoming Scoping Study. 244 core holes for 2,484 metres were drilled across the Kasiya and Nsaru rutile deposits. The drilling was completed by two push-tube core rigs achieving near-100% recovery through the soft, friable, mineralised regolith profile. The average drill depth was approximately 10m with a number of holes reaching up to 15m. Rutile and graphite assays for 148 holes (1,486m) in the central zone of the Kasiya deposit have been received and are detailed in this report. These holes cover ~23km2 of the central existing Inferred MRE area at Kasiya. Results for the remaining 96 holes from Kasiya and Nsaru remain pending.
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