Major New Rutile Soil Anomaly Identified

(firmenpresse) -
Sovereign Metals Limited (the Company or Sovereign) is pleased to announce that it has identified a major new soil anomaly over ~2.4km in width with observed rutile significantly higher than any previous anomaly identified.

Substantial shallow hand-auger and deeper (10m-30m) air-core drilling was completed in late 2019 and early 2020 on four priority prospects, with a significant number of results near completion and expected to be announced progressively over the coming weeks.

HIGHLIGHTS

KASIYA RUTILE SOIL ANOMALY

- Wide and very high tenor rutile soil anomaly identified at the Kasiya Prospect with the following characteristics;
o ~2.4km width with potential strike length currently undefined, though surface mineral assemblages and airborne magnetics suggest it could be in excess of several kilometres
o The observed rutile content of the soil anomaly is significantly higher than any anomaly previously tested
o Shallow hand-auger program completed over the anomaly in early 2020 with results pending

STRONG INDICATION OF SCALE POTENTIAL

- The Kasiya anomaly is within regional proximity to the previously announced Railroad and Railroad West saprolite-hosted rutile prospects suggesting the potential for large to very large tonnages of mineralisation within a modest radius
- Shallow hand-auger drilling is ongoing on numerous near-by targets in this highly prospective area

2019 DRILLING RESULTS IMMINENT

- Significant drilling programs completed in late 2019 over three high-priority rutile prospects comprised 101 hand-auger holes for 800m and 68 deeper air-core holes for 830m
- A steady stream of drilling results from multiple sample batches across these prospects is expected to start being received shortly and will be reported to market progressively as received
Following the discovery of the new high tenor, wide soil anomaly at Kasiya, Sovereigns Managing Director Dr Julian Stephens commented:

The team is really excited at the number, size and tenor of rutile prospects that continue to emerge across our large ground holding in Malawi. The Companys refined geological targeting model has met with immediate success at Kasiya and we are now confident more high-class prospects will emerge as we work through the numerous targets identified to date. We are now looking forward to the substantial batches of results from our late 2019 and early 2020 drilling programs.

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 RUTILE SOIL ANOMALY

Results of soil sampling in late 2019 over a new, geologically defined target at Kasila show a ~2.4km width with observed rutile significantly higher than any previous anomaly identified.

The potential strike length is currently undefined, though mapping of surface mineral assemblages and assessment of airborne magnetics signatures suggest it could be in excess of several kilometres.

This high-tenor, large soil anomaly was tested with 19 shallow hand-auger holes drilled in early 2020 with results pending. Shallow hand-auger drilling is ongoing on numerous near-by targets in this highly prospective area.

SCALE POTENTIAL

The Kasiya anomaly is within regional proximity to the previously announced Railroad and Railroad West saprolite-hosted rutile prospects and suggests the potential for cumulatively large to very large tonnages of mineralisation within a small radius across a number of prospects.
https://www.irw-press.at/prcom/images/messages/2020/49782/200116 Rutile soil anomaly Kasiya_DRAFTPRCom.001.png


Figure 1. Map of rutile prospects and targets over airborne magnetics in the Kasiya-Railroad area

SUBSTANTIAL 2019 DRILLING RESULTS IMMINENT

A substantial number of shallow hand-auger and deeper air-core drill holes were completed in late 2019 and early 2020 with a significant number of results near completion. The programs in late 2019 over 3 high-priority rutile prospects comprised a total of 101 hand-auger holes for 800m and 68 deeper air-core holes for 830m. So far in 2020, 19 hand-auger holes have been completed at Kasiya.

A steady stream of drilling results from these multiple sample batches across the numerous prospects is expected to start being received shortly and will be reported to market progressively as received.
https://www.irw-press.at/prcom/images/messages/2020/49782/200116 Rutile soil anomaly Kasiya_DRAFTPRCom.002.png


Figure 2. Project map showing the large ground package and multiple prospects

ONGOING WORK PROGRAM

Sovereigns ongoing rutile work program includes;

- Ongoing laboratory processing of the large number of hand-auger and air-core drill samples from the late 2019 and very early 2020 drilling programs
- Initial hand-auger drilling on a number of new saprolite-hosted prospects identified by the Companys ongoing soil sampling program and mapping programs
- Additional air-core drilling during the current wet season (December to March) to extend rutile mineralisation at depth and along strike on a number of prospects (subject to weather conditions allowing safe access)
- Continuation of desktop studies on mining and tailings disposal methods in advance of potential future Scoping Studies
https://www.irw-press.at/prcom/images/messages/2020/49782/200116 Rutile soil anomaly Kasiya_DRAFTPRCom.003.png


Figure 3. Air-core drilling at Railroad Prospect in December 2019.
https://www.irw-press.at/prcom/images/messages/2020/49782/200116 Rutile soil anomaly Kasiya_DRAFTPRCom.004.png


Figure 4. Malawi field operations and on-site laboratory

This ASX Announcement has been approved in accordance with the Companys published continuous disclosure policy and authorised for release by the Companys Managing Director, Dr Julian Stephens.

Competent Persons Statement

The information in this report that relates to Exploration Results is 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 Sovereigns 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.


Appendix 1: JORC Code, 2012 Edition - Table 1
SECTION 1 - SAMPLING TECHNIQUES AND DATA

Criteri JORC Code Soil Sampling Commentary
a explanation

SamplinNature and quality Six soil samples were taken at
g of sampling (e.g. notionally 400m spacing across
Techni cut channels, the area previously mapped as
ques random chips, or exhibiting favourable surface
specific mineralogy and geophysical
specialised features.
industry standard
measurement tools
appropriate to the ~2 kg of raw material was
minerals under collected
investigation, such
as down between 20-40cm below surface
targeting the
hole gamma sondes, B-horizon
or handheld XRF .
instruments,
Raw samples were analysed by
etc). These examples hand-held XRF with all results
should not be taken recorded to the Companys
as limiting the geological database.
broad meaning of
sampling.


Include reference to The selected samples were passed
measures taken to through a standard Jones 50:50
ensure sample riffle splitter for retention of
a library sample of approximately
representivity and 1.0kg mass and generation of a
the appropriate main sample of 1.0kg. The main
calibration of any sample and library samples are
measurement tools considered representative for
or systems this style of rutile
used. mineralisation.



Aspects of the Mineralogical information and
determination of chemical data obtained from
mineralisation that handheld XRF were used to
are Material to the determine samples for rutile
Public Report. In processing.
cases where
industry standard
work has been done
this would be
relatively simple
(e.g. reverse
circulation
drilling was used
to obtain 1 m
samples from which
3 kg was pulverised
to produce a 30 g
charge for fire
assay). In other
cases more
explanation may be
required, such as
where there is
coarse gold that
has inherent
sampling problems.
Unusual commodities
or mineralisation
types (e.g.
submarine nodules)
may warrant
disclosure of
detailed
information.


DrillinDrill type (e.g. No drilling is reported.
g core, reverse
Techni circulation,
ques open
hole hammer, rotary
air blast, auger,
Bangka, sonic,

etc) and details
(e.g. core
diameter, triple or
standard tube,
depth of diamond
tails,
face
sampling bit or
other type, whether
core is oriented
and if so, by what
method,

etc).

Drill Method of recording No drilling is reported.
Sample and assessing core
Recove and chip sample
ry recoveries and
results
assessed.


Measures taken to No drilling is reported.
maximise sample
recovery and ensure
representative
nature of the
samples.


Whether a No drilling is reported.
relationship exists
between sample
recovery and grade
and whether sample
bias may have
occurred due to
preferential
loss/gain of
fine/coarse
material.


LoggingWhether core and A brief field description was
chip samples have recorded including colour,
been geologically density, moisture, soil type,
and mineralogy and depth.

geotechnically logged
to a level of
detail to support
appropriate Mineral
Resource estimation
mining studies and
metallurgical
studies.


Whether logging is Logging is generally qualitative.
qualitative or
quantitative in
nature. Core (or
costean, channel,
etc.)

photography.

The total length and 100% of samples are geologically
percentage of the logged.
relevant
intersection
logged


Sub-samIf core, whether cut Not applicable - No core drilling
pling or sawn and whether completed.
techni quarter, half or
ques all core
and taken.
sample
prepar
ation

If non-core, whether The samples were passed through a
riffled, tube standard Jones 50:50 riffle
sampled, rotary splitter for generation of a 1kg
split, etc. and sample for rutile processing. The
whether sampled wet remaining sample was retained for
or potential future processing. All
dry. samples were recorded as
dry.


For all sample Use of the Jones splitter is
types, the nature, deemed appropriate given the
quality and generally dry nature of the soil
appropriateness of samples.
the sample
preparation
technique.


Quality control The splitter was cleaned after
procedures adopted each
for all sample.
sub-sampling stages
to maximise

representivity of
samples.


Measures taken to Duplicate samples have not been
ensure that the taken at this early stage of
sampling is exploration.
representative of
the in-situ
material collected,
including for
instance results
for field
duplicate/second-hal
f
sampling.


Whether sample sizes The sample size is considered
are appropriate to appropriate for the material
the grain size of sampled.
the material being
sampled.


QualityThe nature, quality The Malawi onsite laboratory
of and appropriateness results are considered to be
assay of the assaying and semi-quantitative only and not
data laboratory suitable for reporting
and procedures used and quantitative rutile
labora whether the grades.
tory technique is
tests considered partial
or The following workflow for the
total. samples was undertaken
on-site;

· Dry sample in oven for 1 hour at
105

· Soak in water and lightly agitate
· Wet screen at 5mm, 600mm and
45µm to remove oversize and
slimes
material

· Dry +5mm, +600m and +45µm
fractions in oven for 1 hour at
105

· Pass 45µm -600mm fraction across
wet table twice to generate a
heavy mineral concentrate
(HMC)

· Dry all fractions in oven for 1
hour at
105

· Multi stage manual magnetic
separation to produce a
non-magnetic and magnetic
fraction

· Hand pan of the non-magnetic
fraction

· XRF analysis of the non-magnetic
fraction by a portable hand-held
instrument



Weights are recorded at each
stage.


For geophysical Acceptable levels of accuracy and
tools, precision have been established
spectrometers, to consider the results
handheld XRF semi-quantitative. A Thermo
instruments, etc., Fisher
the parameters used
in determining the Niton XL3t XRF Analyzer calibrated
analysis including specifically to the site material
instrument make and is
model, reading used.
times, calibrations
factors applied and
their derivation,
etc.


Nature of quality Internal standards are used. The
control procedures overall quality of QA/QC is
adopted (e.g. considered to be good.
standards, blanks,
duplicate, external
laboratory checks)
and whether
acceptable levels
of accuracy (i.e.
lack of bias) and
precision have been
established.


VerificThe verification of Significant rutile results were
ation significant verified by alternative company
of intersections by personnel.
sampli either independent
ng & or alternative
assayi company
ng personnel.


The use of twinned No drilling is reported and no
holes. duplicate soil samples were
taken.



Documentation of All data was collected initially
primary data, data on paper logging sheets and
entry procedures, codified to the Companys
data verification, templates. This data was hand
data storage entered to spreadsheets and
(physical and validated by Company geologists.
electronic) This data was then imported to a
protocols. Microsoft Access Database then
validated automatically and
manually.


Discuss any No assay adjustment has occurred.
adjustment to assay
data.



LocatioAccuracy and quality A Garmin 64s hand held GPS was
n of of surveys used to used to locate and record all of
data locate drill holes the soil
points (collar and locations.
down-hole surveys),
trenches, mine
workings and other
locations used in
Mineral Resource
estimation.


Specification of the WGS84 UTM Zone 36 South.
grid system
used.


Quality and adequacy A hand-held GPS Device was
of topographic considered adequate for the
control. program.



Data Data spacing for Soils were collected on a notional
spacin reporting of 400m
g & Exploration spacing.
distri Results.
bution

Whether the data Not applicable, no Mineral
spacing and Resource or Ore Reserve
distribution is estimations are covered by new
sufficient to data in this report.
establish the
degree of
geological and
grade continuity
appropriate for the
Mineral Resource
and Ore Reserve
estimation
procedure(s) and
classifications
applied.

Whether sample No sample compositing has been
compositing has applied.
been
applied.

OrientaWhether the No bias attributable to
tion orientation of orientation of sampling has been
of sampling achieves identified.
data unbiased sampling
in of possible
relati structures and the
on to extent to which
geolog this is known
ical considering the
struct deposit
ure type


If the relationship No drilling is reported. Airborne
between the magnetics indicate the soil line
drilling appears to be near-orthogonal to
orientation and the regional
orientation of key strike.
mineralised
structures is
considered to have
introduced a
sampling bias, this
should be assessed
and reported if
material.


Sample The measures taken Samples were stored in secure
securi to ensure sample storage from the time of
ty security collection, through to gathering
for processing.



Audits The results of any It is considered by the Company
or audits or reviews that industry best practice
review of sampling methods have been employed at all
s techniques and stages of the
data exploration.

SECTION 2 - REPORTING OF EXPLORATION RESULTS

CriteriaExplanation Commentary
Mineral Type, reference The Company owns 100% of 7 Exclusive
tenemen name/number, Prospecting Licences (EPLs) in
t & location and Malawi. EPL0355 renewed in 2019 for 2
land ownership years, EPL0372 renewed in 2018 for 2
tenure including y
status agreements or ears and EPL0413 renewed in 2019 for 2
material issues years. EPL0492 and EPL0528 were
with third granted in 2018 for an initial period
parties such as of three years (renewable). EPL0537
joint ventures, and EPL0545 were granted in 2019 for
partnerships, an initial period of three years
overriding (renewable).
royalties,
native title
interests,
historical
sites,
wilderness or
national park
and environment
settings.

The security of The tenements are in good standing and
the tenure held no known impediments to exploration
at the time of or mining
reporting along exist.
with any known
impediments to
obtaining a
licence to
operate in the
area.

ExploratAcknowledgement No other parties were involved in
ion and appraisal exploration.
done of exploration
by by other
other parties.
parties


Geology Deposit type, The rutile deposit type could be
geological termed a residual placer formed by
setting and the intense weathering of rutile-rich
style of basement
mineralisation
paragneisses.
Rutile occurs in a mostly
topographically flat area west of
Malawis capital known as the
Lilongwe Plain where a deep tropical
weathering profile is preserved. A
typical profile from top to base is
generally soil (SOIL 0-1m)
ferruginous

pedolith (FERP, 1-4m), mottled zone
(MOTT, 4-7m), pallid

saprolite (PSAP, 7-9m), saprolite (S
APL, 9-25m),

saprock (SAPR, 25-35m) and fresh
rock (FRESH
>35m).

Drill A summary of all No drilling is reported.
hole information Soil observations are considered
informa material to the indicative and semi-quantitative
tion understanding only, and hence individual results
of the are not
exploration reported.
results
including a
tabulation of
the following
information for
all Material
drill holes:
easting and
northings of
the drill hole
collar;
elevation or RL
(Reduced
Level-elevation
above sea level
in metres of
the drill hole
collar); dip
and azimuth of
the hole; down
hole length and
interception
depth; and hole
length

If the exclusion The actual results are excluded
of this because they are semi-quantitative
information is only.
justified on
the basis that
the information
is not Material
and this
exclusion does
not detract
from the
understanding
of the report,
the Competent
Person should
clearly explain
why this is the
case




Data aggIn reporting No averages or cut-offs were applied.
regation Exploration
methods Results,

weighting
averaging
techniques,
maximum and/or
minimum grade
truncations
(e.g. cutting
of high-grades)
and cut-off
grades are
usually
Material and
should be
stated.

Where aggregate No drilling is reported.
intercepts
incorporate
short lengths
of high-grade
results and
longer lengths
of low grade
results, the
procedure used
for such
aggregation
should be
stated and some
typical
examples of
such
aggregations
should be shown
in
detail.

The assumptions No metal equivalents are applied
used for any
reporting of
metal
equivalent
values should
be clearly
stated.

RelationThese Airborne magnetics indicate the soil
ship relationships line appears to be near-orthogonal to
between are regional
mineral particularly strike.
isation important in
widths the reporting
& of Exploration
interce Results.
pt
lengths

If the geometry The exact geometry of the
of the mineralisation is unknown at this
mineralisation stage.
with respect to
the drill

hole angle is
known, its
nature should
be
reported.

If it is not No drilling is reported hence this is
known and only not
the down hole applicable.
lengths are
reported, there
should be a
clear statement
to this effect
(e.g. ''down
hole length,
true width not
known''.

DiagramsAppropriate maps Refer to figures in the body of this
and sections report.
(with scales)
and tabulations
of intercepts
should be
included for
any significant
discovery being
reported. These
should include,
but not be
limited to a
plan view of
the drill
collar
locations and
appropriate
sectional
views.


BalancedWhere The soil observations are semi-quantita
reporti comprehensive t
ng reporting of ive and used internally for drill-hole
all Exploration targeting hence grades as such are
Results is not not
practicable, reported.
representative
reporting of
both low and
high-grades
and/or widths
should be
practiced to
avoid
misleading
reporting of
exploration
results.

Other Other No additional exploration data is
substan exploration available at this
tive data, if stage.
explora meaningful and
tion material,
data should be
reported
including (but
not limited to:
geological
observations;
geophysical
survey results;
geochemical
survey results;
bulk samples -
size and method
of treatment;
metallurgical
test results;
bulk density,
groundwater,
geotechnical
and rock
characteristics;
potential
deleterious or
contaminating
substances.

Further The nature and Sovereigns ongoing rutile work
work scale of program
planned further includes;
work (e.g. test
for lateral Ongoing laboratory processing of the
extensions or large number of hand-auger and
depth air-core drill samples from the late
extensions or 2019 and very early 2020 drilling
large-scale programs.
step-out
drilling).
Initial hand-auger drilling on a
number of new

saprolite-hosted prospects identified
by the Companys ongoing soil
sampling program and mapping
programs.

Additional air-core drilling during
the current wet season (December to
March) to extend rutile
mineralisation at depth and along
strike on a number of prospects
(subject to weather conditions
allowing safe
access).

Continuation of desktop studies on
mining and tailings disposal methods
in advance of potential future
Scoping
Studies.

Diagrams clearly Refer to diagrams in the body of this
highlighting report.
the areas of
possible
extensions,
including the
main geological
interpretations
and future
drilling areas,
provided this
information is
not
commercially
sensitive.

Weitere Infos zu dieser Pressemeldung:

Themen in dieser Pressemitteilung:


Unternehmensinformation / Kurzprofil:
Leseranfragen:
PresseKontakt / Agentur:
Bereitgestellt von Benutzer: irw
Datum: 16.01.2020 - 00:45 Uhr
Sprache: Deutsch
News-ID 1555278
Anzahl Zeichen: 4071

contact information:
Contact person:
Town:

Wien

Phone:

Kategorie:

Business News

Typ of Press Release:
type of sending:
Date of sending:
Anmerkungen:


Diese Pressemitteilung wurde bisher 389 mal aufgerufen.


Die Pressemitteilung mit dem Titel:
"Major New Rutile Soil Anomaly Identified

"
steht unter der journalistisch-redaktionellen Verantwortung von

Sovereign Metals Limited (Nachricht senden)

Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).

Alle Meldungen von Sovereign Metals Limited