Sovereign Metals: Significant New Rutile Placer Discovery in Malawi
(firmenpresse) -
February 3, 2020 - Sovereign Metals Limited (the Company or Sovereign) is pleased to announce that shallow hand-auger drilling completed in late 2019 has identified a new, sand-hosted placer rutile prospect in Malawi. This new discovery is additional to the significant saprolite-hosted rutile mineralisation already identified, and further supports the Companys belief it has identified a potentially globally significant, strategic rutile province across its large Malawi ground holding.
BUA CHANNEL PROSPECT - HIGHLIGHTS
- New high-grade, placer-style, sand-hosted rutile mineralisation identified at Bua Channel Prospect (Bua Channel) drilled over initial 8km length. Entire channel totals approximately 50km length with widths ranging from 300m to 700m.
- First results from initial shallow hand auger drilling on a single section at the Bua Channel Prospect show excellent rutile grades with accessory zircon and ilmenite.
- Key hand-auger results include (Figure 1):
- 7m (at) 0.81% rutile, 1.0% ilmenite & 0.11% zircon (from surface)
Inc. 3m (at) 1.03% rutile, 1.2% ilmenite & 0.13% zircon (from 4m) remains open at depth
- 5m (at) 0.72 % rutile, 0.9% ilmenite & 0.09% zircon (from 2m)
Inc. 1m (at) 0.97% rutile, 1.3% ilmenite & 0.10% zircon (from 6m) remains open at depth
- 5m (at) 0.64% rutile, 0.9% ilmenite & 0.10% zircon (from surface)
Inc. 3m (at) 0.70% rutile, 0.9% ilmenite & 0.10% zircon (from 2m) remains open at depth
https://www.irw-press.at/prcom/images/messages/2020/49914/200203 Discovery of Bua_FINAL (Low res)_EN_PRcom.001.png
Figure 1. Cross-section BS Z3-1200 showing initial hand-auger drilling results and rutile mineralisation at Bua Channel Prospect.
- Key shallow hand-auger drill holes in the highest grade rutile zone remain open at depth
- New exploration licence granted covering +40km northern extension of the Bua Channel
Following the discovery of Bua, Sovereigns Managing Director Dr Julian Stephens commented:
The discovery of classic sand-hosted, placer-style rutile mineralisation confirms our belief that we have identified a potentially globally significant, strategic rutile province. We now have two styles of rutile mineralisation, residual saprolite-hosted and placer sand-hosted within our large ground holding in Malawi. A substantial number of hand-auger and deeper aircore drilling samples are being processed in Perth with further results expected in a number of batches in the coming weeks.
https://www.irw-press.at/prcom/images/messages/2020/49914/200203 Discovery of Bua_FINAL (Low res)_EN_PRcom.002.jpeg
Figure 2. Project map showing key rutile prospects and the Companys large ground holding in central Malawi.
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
INTRODUCTION
In late 2019, the Company continued to rapidly progress its rutile exploration programs in Malawi via hand- auger and deeper air-core drilling programs. A total of 101 hand-auger holes for 800m were drilled across four separate prospects, whilst a total of 68 deeper air-core holes were drilled across the new Bua Channel prospect and the Railroad and Railroad West residual saprolite-hosted prospects. An initial 19 hand-auger holes were drilled on a new, highly prospective soil anomaly over saprolite at the Kasiya prospect.
The first initial shallow hand-auger results from Bua Channel Prospect have been returned and show high-grade, placer-style, sand-hosted rutile mineralisation. This discovery further supports the Companys belief that it has discovered a potentially globally significant, strategic rutile province with two confirmed, discrete mineralisation styles;
- Residual saprolite-hosted rutile mineralisation e.g. Railroad, Railroad West and the new prospect Kasiya
- Fluvial placer-style, sand-hosted rutile mineralisation e.g. Bua Channel Prospect
https://www.irw-press.at/prcom/images/messages/2020/49914/200203 Discovery of Bua_FINAL (Low res)_EN_PRcom.003.png
Figure 3. Geological model outlining the two discrete styles of mineralisation
The Company expects substantial drilling results over the coming weeks with numerous hand-auger and deeper (10m to 30m) air-core sample batches from all four main prospects currently undergoing processing in Perth laboratories.
BUA CHANNEL PROSPECT
The Companys geological team identified potential for placer (sand-hosted) rutile mineralisation in an extensive fluvial channel system in the far west of the tenement package. Initial in-field panning of sand samples showed visually high content of rutile with presents of ilmenite and zircon.
Sovereign has so far defined rutile mineralisation in the southern Bua Channel prospect over approximately 8km length with widths ranging from 300m to 700m and mineralised sand thicknesses ranging from about 4m to 10m.
A significant, +40km potential extension was identified to the north by the field team and this ground was secured in a new exploration licence recently granted by the Malawian Minister of Natural Resources, Energy and Mining.
A total of 57 shallow hand-auger holes for 364m and 54 deeper air-core holes for 473m were drilled at Bua Channel in late 2019.The Company to date has received only the results for shallow hand-auger drilling from 8 holes drilled on the first priority cross-section BS Z3-1200. Overall, these show a well-defined, sand-filled channel with high grades of recoverable rutile and accessory ilmenite and zircon.
Encouragingly, rutile grades are seen to consistently increase with depth as the sand becomes coarser grained. The hand-auger drilling was not able to penetrate much below the standing water table, and hence the three highest-grade holes in the core mineralised zone did not reach the base of the sand-filled channel. These three holes all ended in high-grade rutile mineralisation which remains open at depth.
https://www.irw-press.at/prcom/images/messages/2020/49914/200203 Discovery of Bua_FINAL (Low res)_EN_PRcom.004.png
Figure 4. Map outlining the length of the Bua Channel. Only the southern 8km within EPL0492 has been drilled to date.
All results received to date for Bua Channel are shown in Table 1 and Figure 1.
Table 1. All initial hand-auger drilling results from Bua Channel Prospect cross-section BS Z3-1200.
Hole ID From To IntervRutile IlmeniZirconSlimeComment
al % te % s
% %
BSHA0009 0 4 4m 0.54% 0.74% 0.08% 23.6%
BSHA0010 3 6 3m 0.67% 0.89% 0.08% 22.1%
BSHA0011 0 5 5m 0.64% 0.85% 0.10% 22.3%Open
Inc. 2 5 3m 0.70% 0.92% 0.10% 14.5%Open
BSHA0012 0 7 7m 0.81% 0.99% 0.11% 18.1%Open
Inc. 2 7 5m 0.92% 1.12% 0.12% 14.6%Open
Inc. 4 7 3m 1.03% 1.23% 0.13% 12.3%Open
BSHA0013 2 7 5m 0.72% 0.92% 0.09% 22.8%Open
Inc. 6 7 1m 0.97% 1.33% 0.10% 10.0%Open
BSHA0014 NSR
BSHA0015 NSR
BSHA0016 NSR
https://www.irw-press.at/prcom/images/messages/2020/49914/200203 Discovery of Bua_FINAL (Low res)_EN_PRcom.005.jpeg
Figure 5. Logging and panning activities at Bua Channel Prospect
https://www.irw-press.at/prcom/images/messages/2020/49914/200203 Discovery of Bua_FINAL (Low res)_EN_PRcom.006.png
Figure 6. Drone photograph of aircore drilling at Bua Channel. Rutile mineralisation occurs in sand in this wide, meandering channel. The current-day river is approximately 20m wide.
ONGOING WORK PROGRAM
Sovereigns ongoing rutile work program includes;
- Ongoing laboratory processing of the large number of drill samples from the late 2019 and 2020 drilling at Bua Channel, Railroad, Railroad West prospects and the new high-priority saprolite-hosted prospect at Kasiya.
- Initial hand-auger drilling on a number of new saprolite-hosted prospects identified by the Companys ongoing soil sampling program and refined predictive geological targeting model
- Additional air-core drilling to extend rutile mineralisation at depth and along strike on a number of prospects
- Continue with technical studies on mining methods and tailings disposal methodologies in advance of future potential Scoping Studies
https://www.irw-press.at/prcom/images/messages/2020/49914/200203 Discovery of Bua_FINAL (Low res)_EN_PRcom.007.png
Figure 7. Malawi field operations and on-site laboratory
Competent Persons Statements
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: Drill Hole Data
Hole ID Easting Northing RL Depth
BSHA0009 530160 8484970 1037 8.0
BSHA0010 530200 8484881 1036 7.0
BSHA0011 530250 8484800 1035 6.0
BSHA0012 530290 8484700 1036 7.0
BSHA0013 530350 8484610 1035 7.0
BSHA0014 530390 8484520 1036 9.0
BSHA0015 530051 8485140 1039 4.0
BSHA0016 530100 8485060 1037 6.0
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Datum: 03.02.2020 - 02:57 Uhr
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