Sovereign Metals Ltd (ASX:SVM)’s recent infill core drilling program at its flagship Kasiya project in Malawi has confirmed the thick, continuous and high-grade nature of the rutile deposit.
The 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.
Globally significant discovery
Sovereign managing director Dr Julian Stephens said: “We are looking forward to the completion of the initial scoping study for Kasiya, which will reveal the potential economics of this globally significant rutile discovery."
“This is timely as Sovereign completes its dual listing on the AIM Market of the London Stock Exchange in mid-December introducing new capital markets and generating greater exposure for the company and the strong fundamentals of the Kasiya project,” he said.
Drill results
The first phase of results from 148 core holes covering around 23 square kilometres at Kasiya include;
- 12 metres at 1.17% rutile including 2 metres at 1.87%;
- 10 metres at 1.11% including 4 metres at 1.41%;
- 14 metres at 1.13% including 4 metres at 1.62%;
- 12 metres at 1.12% including 2 metres at 1.72%;
- 10 metres at 1.37% including 4 metres at 1.68%;
- 14 metres at 1.34% including 2 metres at 1.61%;
- 8 metres at 1.42% including 2 metres at 2.67%;
- 8 metres at 1.36% including 4 metres at 1.46%;
- 10 metres at 1.37% including 2 metres at 1.66%;
- 10 metres at 1.29% including 2 metres at 1.46%;
- 13 metres at 1.12% including 2 metres at 2.11% and
- 12 metres at 1.23% including 2 metres at 2.07%.
The results for the remaining 96 holes from Kasiya and Nsaru remain pending.
Sonic or aircore drilling in 2022
The Kasiya core drilling results are in line with previous hand-auger drilling and continue to confirm widespread, high-grade mineralisation commonly grading 1.2% to 2.0% rutile in the top 3-5 metres from surface.
Moderate grade mineralisation generally grading 0.5% to 1.2% rutile commonly extends from 5 metres to end of hole where it remains open at depths >10 metres in numerous drill-defined, northeast-striking zones.
It is currently interpreted that these should extend to the base of the soft, friable saprolite estimated to be at approximately 25 metres depth.
Sovereign Metals will consider testing this deeper rutile mineralisation with sonic or aircore drilling in the 2022 field season.
Final metallurgical results
Results from the comprehensive graphite assaying program show low-grade, coarse-flake graphite averaging about 1.2% TGC throughout the Kasiya rutile MRE area.
Higher grade graphite occurs at depths >5 metres in association with the northeast-striking zones of deeper rutile mineralisation described in the previous section.
Metallurgical test-work on a potential graphite by-product from Kasiya is now near completion.
It is now confident it will be able to include a coarse-flake graphite by-product in the upcoming scoping study.
The final graphite metallurgical results are expected to be available for reporting in the coming weeks.
Scoping study results next month
Sovereign Metals is well advanced with its scoping study for Kasiya, which targets a large-scale natural rutile operation to fill some of the existing supply deficit with the purest and most environmentally sustainable high-grade titanium feedstock.
The majority of technical disciplines for the study have now been completed with the JORC MRE, mining optimisations and capital and operating cost estimations currently being finalised.
It plans to present the results of the study next month.