Sovereign Metals: Kasiya Air-Core Drilling Indentifies High-Grade Mineralisation at Depth
- First drilling results from the Company’s deeper air-core (AC) program confirm rutile mineralisation extends at depth beneath previous drilling in most of the targeted areas
- Results demonstrate the growth potential of Kasiya at depth and confirm that extensive rutile mineralisation remains outside of the current Mineral Resource Estimate (MRE) and pit shells
- Core areas of the previously designed pit shells averaged about 15m depth with this new drilling commonly extending mineralisation to between 20m and 30m depth
- The new deeper and thicker rutile intercepts highlight the potential to increase the mineral resource by deepening pits in numerous areas
- Highlights include:
- 28m @ 1.05% inc. 5m @ 1.78% rutile
- 25m @ 1.06% inc. 13m @ 1.15% rutile
- 20m @ 1.26% inc. 16m @ 1.37% rutile
- 22m @ 1.15% inc. 8m @ 1.51% rutile
- 20m @ 1.29% inc. 6m @ 1.27% rutile
- 26m @ 1.18% inc. 6m @ 1.66% rutile
- Identification of high-grade mineralisation at depth is expected to contribute to the MRE update targeted for Q1 2023
- Kasiya’s Pre-Feasibility Study (PFS) and Environmental and Social baseline workstreams are advancing with all major project and consultant teams appointed with a scheduled completion date in Q2 2023
Sovereign Metals Limited (ASX:SVM; AIM:SVML) (Sovereign or the Company) is pleased to report first results from its H1 2022 AC drilling program at the Kasiya Rutile Project (Kasiya), the Company’s flagship, very large, high-grade rutile deposit in Malawi.
The results confirm that rutile mineralisation is continuous in many pit areas from surface down to the top of saprock, normally between 20m and 30m from surface. Results reveal the potential for mining pits to be extended at depth to the top of saprock in numerous areas.
Sovereign’s Managing Director Dr Julian Stephens commented: “The early results from this deeper drilling re-asserts the truly remarkable Tier 1 nature of Kasiya in terms of size, grade and mineralisation consistency. We have now answered the question on the potential to deliver additional tonnes for the mineral resource at depth. Kasiya continues to grow and will likely become a multi generational project capable of supplying a reliable and sustainable source of high-purity titanium as natural rutile.”
ENQUIRIES
Dr Julian Stephens (Perth)
Managing Director
+61(8) 9322 6322
Sam Cordin (Perth)
+61(8) 9322 6322
Sapan Ghai (London)
+44 207 478 3900
KASIYA AIR CORE DRILLING
The 191-hole air-core drilling program at the Kasiya rutile deposit was completed in two phases from May to August 2022 by Thompson Drilling. The program was divided into an initial 32-hole sighter phase with results reported herein, and a second more expansive and targeted 159-hole phase. The drilling was completed on a nominal 200m x 200m grid spacing targeting upgrading of mineralisation into the Indicated category which could convert to Probable Reserves as part of the forthcoming PFS. A total of 32 drill-holes for 814m are reported (Figure 1) with results from the remaining 159 holes for 3,846m pending.
Figure 1: Kasiya AC drilling location map showing the drilling concentrated within Indicatd Pit Shells.
The initial sighter AC drilling program focused on mineralised corridors where high-grade rutile mineralisation was hypothesised to persist at depth, below the limit of the previous drilling. Results show that the mineralisation is pervasive throughout the saprolite zones with many holes showing mineralisation with 20-30m thickness from surface. Further MRE depth extensions are likely where the AC holes have extended known mineralisation beyond the base of the current MRE bound.
Second phase targeted drilling on the planned pit areas considered in the ESS has also been completed with the expectation that these pit designs may be modified if additional rutile mineralisation is encountered at depth.
Coarse flake graphite is present in all AC holes in association with rutile mineralisation. Graphite grades appear to improve with depth averaging +2% TGC in numerous holes.
Figure 2: THR001 air-core drilling rig in operation at Kasiya, showing drill pads lightly cleared in the background
Figure 3: THR001 air-core drilling KYAC0001 to 23m EOH at Kasiya
Figure 4 and 5: Kasiya drilling sample collection under the cyclone and mineralised weathering profile displayed in a chip tray
Figure 6: Cross section 8,478,200mN including KYAC0022 to KYAC0028. Refer Figure 1.
Figure 7: Cross section 8,465,400mN including KYAC0029 to KYAC0032. Refer Figure 1.
PRE-FEASIBILITY STUDY PROGRESS
There are numerous technical work packages in progress for the Kasiya PFS including;
- Further drilling to refine and extend the MRE and then the final PFS mining inventory
- Preliminary hydrogeological pilot and test boreholes
- Continued metallurgical test-work focused on the planned first 10 years of mining
- Site visits throughout September by the principal PFS consultants
- Updated JORC resource estimate planned for Q1 2023
- Ongoing product marketing with further offtake MOUs expected to be executed
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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, Dr Julian Stephens.
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