Sovereign Metals Limited: Air-Core Drilling Extends and Confirms High Grade Rutile at Bua Channel

ID: 1556243
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(businesspress24) - Sovereign Metals Limited (the Company or Sovereign) is pleased to report that the first air-core drilling results from the Bua Channel show laterally extensive and high-grade rutile, extending the confirmed mineralised channel length.

HIGHLIGHTS
- Drilling confirms Bua Channel as a high-grade, rutile dominant, sand-hosted, channel placer deposit within the emerging Malawi Rutile Province.
- Air-core drilling results extend confirmed rutile mineralisation to over 5km length.
- The Bua Channel is geologically well defined over a total length of ~50km. Planning for a drilling program to test the remaining +40km length of the channel is well advanced.
- First phase air-core results with 17 holes received to date from total 54 holes. Results include;
o 8m (at) 0.88 % rutile, 1.5% ilmenite & 0.08% zircon (from surface)
inc. 5m (at) 1.02% rutile, 1.7% ilmenite & 0.09% zircon (from 3m)
o 7m (at) 0.85% rutile, 1.4% ilmenite & 0.08% zircon (from surface)
inc. 3m (at) 0.96% rutile, 1.6% ilmenite & 0.08% zircon (from 4m)
o 8m (at) 0.71% rutile, 1.3% ilmenite & 0.07% zircon (from surface)
inc. 3m (at) 0.92% rutile, 1.5% ilmenite & 0.08% zircon (from 5m)

https://www.irw-press.at/prcom/images/messages/2020/50100/200224 Rutile AC results_FINAL_PRCOM.001.jpeg

Figure 1. Cross-section showing initial air-core drilling results and rutile mineralisation at the Bua Channel.

- QEMSCAN mineralogy has characterised the ilmenite as high quality with TiO2 content of ~60% indicating it may be suitable as a chloride feedstock potentially adding significant value to the overall mineral assemblage
- A large number of drilling samples remain to be reported from the new Kasiya saprolite-hosted rutile discovery, the Bua Channel discovery and additional new regional prospects

Sovereign believes it has identified a globally significant, strategic rutile province across its large Malawi ground holding. The Malawi Rutile Province features two confirmed, discrete rutile mineralisation styles hosted respectively in sand and saprolite (soft, friable weathered material) which are both amendable to conventional processing. Known rutile mineralisation to date is unconstrained across the Companys large ground position, offering extensive exploration upside.



Sovereign is targeting definition of a substantial resource in 2020 that can support a long-life, large scale rutile operation. To this end, drilling and exploration programs continue at pace.

Sovereigns Managing Director Dr Julian Stephens commented:
This classic sand-hosted, placer-style rutile mineralisation at the Bua Channel has now been extended along strike and continues to support our belief that we have identified a potentially globally significant, strategic rutile province with multiple mineralisation styles. The Company is actively exploring numerous rutile prospects across its very large ground position in central Malawi. We are currently waiting with anticipation for drilling results from our new Kasiya saprolite-hosted rutile discovery and further Bua Channel results.

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

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Figure 2. 2019 air-core drilling at Bua Channel

BUA CHANNEL DRILL PROGRAM
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 results for the first 8 shallow hand-auger holes (ASX Announcement 3 February 2020) across section Z3 1200 (Figure 3) and 17 air-core holes reported in this announcement. Both sets of results have returned excellent grades of rutile and high-quality ilmenite over the southern ~8km of the Bua Channel.

The remaining air-core holes are currently being processed with results expected to be reported in coming weeks.

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Figure 3. Drill Program across the Bua Channel (southern 8km).

BUA CHANNEL
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 significant ilmenite.
Sovereign has so far confirmed rutile mineralisation via drilling in the southern Bua Channel over approximately 5km length with widths ranging from 300m to 700m and mineralised sand thicknesses ranging from about 4m to 10m. Visual rutile mineralisation was noted over a further ~3km length giving a total of approximately 8km of known mineralisation.

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Figure 4. Map showing the Bua Channel and Sovereigns ground position in the area. Only the southern 8km been drilled to date.

Air-core results received to date for Bua Channel are shown in Table 1 and Figure 1.
Table 1. Initial drilling results from the first 17 Bua Channel air-core holes.
Hole ID From To IntervRutile IlmenitZircon Slimes
al % e % %

%
BSAC0001 No significant results
BSAC0002 5 8 3m 0.70% 1.14% 0.07% 16.7%
Incl 5 7 2m 0.79% 1.31% 0.07% 14.0%
BSAC0003 2 6 4m 0.58% 0.96% 0.05% 27.2%
BSAC0004 2 7.5 5.5m 0.62% 1.02% 0.05% 16.0%
BSAC0005 0 7 7m 0.60% 0.96% 0.06% 22.1%
Incl 0 3 3m 0.77% 1.18% 0.09% 32.8%
BSAC0006 0 7.5 7.5m 0.63% 1.02% 0.06% 28.0%
BSAC0007 0 9.5 9.5m 0.66% 1.06% 0.07% 33.1%
BSAC0008 4 7 3m 0.72% 1.20% 0.06% 13.2%
Incl 6 7 1m 0.92% 1.52% 0.08% 15.8%
BSAC0009 1 7 6m 0.59% 0.96% 0.06% 15.7%
Incl 6 7 1m 0.99% 1.52% 0.12% 27.5%
BSAC0010 0 8 8m 0.60% 0.99% 0.05% 22.5%
Incl 4 8 4m 0.70% 1.17% 0.06% 19.4%
BSAC0011 0 8 8m 0.79% 1.31% 0.07% 19.8%
Incl 5 8 3m 0.92% 1.53% 0.08% 16.9%
BSAC0012 0 8 8m 0.88% 1.46% 0.08% 17.0%
Incl 3 8 5m 1.02% 1.69% 0.09% 19.1%
BSAC0013 0 7 7m 0.85% 1.42% 0.08% 23.7%
Incl 4 7 3m 0.96% 1.60% 0.08% 18.5%
BSAC0014 2 7 5m 0.54% 0.91% 0.05% 22.7%
BSAC0015 No significant results
BSAC0016 3 6 3m 0.53% 0.85% 0.06% 26.1%
BSAC0017 3 6 3m 0.62% 1.03% 0.05% 19.0%

https://www.irw-press.at/prcom/images/messages/2020/50100/200224 Rutile AC results_FINAL_PRCOM.005.png
Figure 6. Project map showing key rutile prospects and the Companys large ground holding in central Malawi.

The Company has a number of advanced rutile prospects with clear and well-defined exploration programs well underway. 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.

This new and emerging rutile province is located in Malawi, a stable, transparent jurisdiction with exceptional existing infrastructure (grid power, road network and established labour pool) as well as the Nacala Logistics Corridor passing through Malawi to the Indian Ocean (Nacala Port) providing a low-cost transportation solution.

Competent Persons Statements
The information in this report that relates to Exploration Results and QEMSCAN are 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.

This ASX Announcement has been approved and authorised for release by the Companys Managing Director, Julian Stephens.

Appendix 1: Drill Hole Data
Hole ID East North RL Depth
BSAC0001 530197 8484873 1035 6.5
BSAC0002 530470 8485877 1035 11
BSAC0003 531032 8486456 1035 11
BSAC0004 530952 8486513 1035 7.5
BSAC0005 530871 8486576 1035 9.5
BSAC0006 531396 8486931 1034 7.5
BSAC0007 531353 8486967 1036 11
BSAC0008 531275 8487025 1035 7
BSAC0009 531191 8487083 1036 7
BSAC0010 531114 8487145 1035 9
BSAC0011 531632 8487500 1033 8
BSAC0012 531594 8487532 1034 11
BSAC0013 531517 8487590 1034 8
BSAC0014 531439 8487648 1034 8
BSAC0015 532567 8488675 1034 10
BSAC0016 532472 8488659 1034 8
BSAC0017 532385 8488644 1035 8
*All reported intercepts are from surface. All holes were vertical.


Appendix 2: Drill Hole Location Map
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Appendix 3: JORC Code, 2012 Edition - Table 1
SECTION 1 - SAMPLING TECHNIQUES AND DATA
Criteria JORC Code Air Core Drilling Commentary
explanation

SamplingNature and quality A total of 54 air-core holes for
Techniq of sampling (e.g. 473m were drilled at the
ues cut channels,
random chips, or Bua Channel prospect in late
specific 2019.The Company to date has
specialised received the results from the
industry standard first 17 holes for a total of
measurement tools 148m which are reported here.
appropriate to the Samples were composited based on
minerals under logged geological boundaries,
investigation, such generally at 1, 2 or 3m
as down intervals.

hole gamma sondes,
or handheld XRF
instruments,

etc). These examples
should not be taken
as limiting the
broad meaning of
sampling.


Include reference to Drilling and sampling activities
measures taken to were supervised by a suitably
ensure sample qualified Company geologist who
was present at the drill rig at
representivity and all times. All bulk 1-metre drill
the appropriate samples were geologically logged
calibration of any by the geologist at the drill
measurement tools site.
or systems
used. All 1-metre down-hole drill
samples were collected in plastic
bags from directly beneath the
cyclone
underflow.


Each 1-metre sample was sun dried
and homogenised. Sub-samples were
carefully riffle split to ensure

representivity. ~1.5kg composite
samples were processed. Extreme
care was taken to ensure an
equivalent mass is taken from
each

1-metre sample to make up the
composite. The primary composite
sample is considered
representative for this style of
rutile
mineralisation.


Aspects of the Logged mineralogy percentages,
determination of lithology information and
mineralisation that TiO
are Material to the 2% obtained from handheld XRF were
Public Report. In used to determine compositing
cases where intervals. Care is taken to
industry standard ensure that only lithological
work has been done units with similar grade and
this would be geological characteristics are
relatively simple composited together.
(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.


DrillingDrill type (e.g. Conventional blade bit air core
Techniq core, reverse drilling was employed to obtain
ues circulation, all drill cuttings from
openhole hammer, surface.
rotary air blast,
auger, Bangka, Drilling was completed using a
sonic, P900 drill rig mounted on a 4x4
truck. Drilling was completed
etc) and details using standard 3-inch
(e.g. core diameter/3-metre length drill
diameter, triple or rods equipped with inner tubes.
standard tube, Drilling was performed with
depth of diamond standard face discharge air core
tails, blade bits. The nominal drill
facesampling bit
or other type, hole diameter is 87mm.
whether core is
oriented and if so,
by what method,

etc).

Drill Method of recording All 1-metre down-hole drill
Sample and assessing core samples were collected in plastic
Recover and chip sample bags from directly beneath the
y recoveries and cyclone underflow.
results
assessed.


Measures taken to The Companys trained geologists
maximise sample supervise drilling on a 1 team 1
recovery and ensure geologist basis and are
representative responsible for monitoring all
nature of the aspects of the drilling and
samples. sampling
process.

Whether a No bias related to preferential
relationship exists loss or gain of different
between sample materials has
recovery and grade occurred.
and whether sample
bias may have
occurred due to
preferential
loss/gain of
fine/coarse
material.


Logging Whether core and All individual 1-metre air core
chip samples have intervals are geologically
been geologically logged, recording relevant data
and to a set template using company
codes. A small representative
geotechnically logged sample is collected for each
to a level of 1-metre interval and placed in
detail to support appropriately labelled chip trays
appropriate Mineral for future reference.
Resource estimation
mining

studies and
metallurgical
studies.


Whether logging is All logging includes lithological
qualitative or features and estimates of basic
quantitative in mineralogy. Logging is generally
nature. Core (or qualitative.
costean, channel,
etc.)
photography.


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


Sub-sampIf core, whether cut Not applicable - no core drilling
ling or sawn and whether conducted.
techniq quarter, half or
ues and all core
sample taken.
prepara
tion

If non-core, whether Samples from the 17 air core holes
riffled, tube reported here were composited.
sampled, rotary Each 1-metre sample was sun dried
split, etc. and on large metal trays and
whether sampled wet homogenised. Sub-samples were
or carefully riffle split to ensure
dry. sample

representivity. ~1.5kg composite
samples were processed. The
primary composite sample is
considered representative for
this style of rutile
mineralisation and is consistent
with industry standard practice.



For all sample Use of the above compositing and
types, the nature, sampling technique is deemed
quality and appropriate given the dried
appropriateness of nature of the
the sample samples.
preparation
technique.


Quality control The sampling equipment is cleaned
procedures adopted after each sub-sample is
for all taken.
sub-sampling stages
to maximise

representivity of
samples.


Measures taken to Extreme care is taken to ensure an
ensure that the equivalent mass is taken from
sampling is each 1-metre sample to make up
representative of each
the in situ composite.
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.


Quality The nature, quality The Malawi onsite laboratories
of and appropriateness sample preparation methods are
assay of the assaying and considered quantitative to the
data laboratory point where a heavy mineral
and procedures used and concentrate (HMC) is generated.
laborat whether the Results generated are for
ory technique is recovered rutile i.e. the % mass
tests considered partial of the sample that is rutile that
or can be recovered to a heavy
total. mineral
concentrate.


The following workflow for the air
core composite samples was
undertaken on-site in
Malawi;

· Dry composite 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 +45µm -600mm fraction in
oven for 1 hour at
105

· Pass the dry +45µm -600mm
through 50:50 riffle

splitter.
· Retain one split on site as
library sample and send the
second split to Perth for further
quantitative mineralogical
analysis.



The following workflow for the air
core composite samples was then
undertaken in Perth based
Laboratories.


· ~75g split taken from +45µm
-600mm for heavy liquid
separation (HLS).


· The laboratory used TBE as the
heavy liquid medium for HLS with
a density of 2.95
g/ml/.

· The sinks were then dried and
weighed to give

a HM content.
· Lithological HM composites were
then generated for mineralogy
profiling as per industry
standards.


· Magnetic separation of the HM
composites by a

Carpco magnet (at) 16,000G (2.9Amps)
into a magnetic (M) and
non-magnetic (NM) fraction. Work
was undertaken at Allied Mineral
Laboratories (AML) in
Perth.

· The M and NM fractions were sent
to

Intertek Genalysis Perth for
quantitative ICP analysis.


· 2g splits of selected M and NM
fractions were sent to ALS for
QEMSCAN analysis for further
determination of mineralogy,
grain size and other mineral
chemistry and deportment
information.

· 1g splits of selected M and NM
fractions were sent to Diamantina
Laboratories for thin-section and
300-point count
analysis.


For geophysical Acceptable levels of accuracy and
tools, precision have been established.
spectrometers, No handheld methods are used for
handheld XRF quantitative
instruments, etc., determination.
the parameters used
in determining the
analysis including
instrument make and
model, reading
times, calibrations
factors applied and
their derivation,
etc.


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


VerificaThe verification of Significant mineralisation
tion of significant intersections were verified by
samplin intersections by qualified alternative company
g & either independent personnel.
assayin or alternative
g company
personnel.


The use of twinned No twin holes have been used.
holes.


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



Discuss any Lithological HMC composite results
adjustment to assay are assigned to corresponding
data. lithologys as per industry
standards.


The mineral assemblages were
calculated using theoretic
stoichiometric ratios from ICP
analysis of HM sink lithology
composites. This calculation
process is considered appropriate
for this level of study.



Rutile content is calculated on
the NM fraction by ICP analysis
for
TiO
2%. The rutile content of the NM
fraction is supported by QEMSCAN
and 300-point thin section
analysis on selected samples.


Ilmenite content is calculated on
the M fraction by ICP analysis
for
TiO
2%. All TiO2 units in the M
fraction are either

ilmenite or an altered ilmenite pro
duct. This is supported by QEMSCAN
and 300-point thin section
analysis on selected samples.


Zircon content is calculated on
the NM fraction by ICP analysis
for

Zr%. The zircon content of the NM
fraction is supported by QEMSCAN
and 300-point thin section
analysis on selected
samples.


The correlation between ICP
calculated mineral assemblages,
QEMSCAN assemblages and

300-point count assemblages is very
good.




LocationAccuracy and quality A Trimble R2 Differential GPS was
of of surveys used to used to pick up the drill
data locate drill holes
points (collar and hole collars.
down-hole surveys), No down-hole surveying of air core
trenches, mine holes is completed. Given the
workings and other vertical nature and shallow
locations used in depths of the holes drill
Mineral Resource
estimation. hole deviation is not considered
to significantly affect the
down-hole location of
samples.

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


Quality and adequacy DGPS pickups are considered to be
of topographic high quality topographic control
control. measures.


Data Data spacing for The air core collars are spaced at
spacing reporting of approximately 100m along drill
& Exploration lines. It is thought that these
Results. holes intercepts should be
distribu
tion broadly representative of the
mineralisation style in the
general area. Closer spaced
drilling is required to more
accurately determine the
variability of the mineralisation
across the

Bua Channel Prospect.

Whether the data Not applicable, no Mineral
spacing and Resource or Ore Reserve
distribution is estimations are covered by the
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 Individual 1-metre air core
compositing has intervals have been composited
been over a determined interval of
applied. interest for the 17 holes
reported in order to obtain a
primary sample of ~1.5kg mass for
mineralogical analysis.



HM sinks have also been composited
between broader lithology zones
down-hole. The composite
mineralogy results are deemed to
represent the clear lithology
units present at the

Bua Channel Prospect. Profiling
mineralogy of lithological units
is consistent with industry
standard practice.



OrientatWhether the No bias attributable to
ion of orientation of orientation of sampling has been
data sampling achieves identified.
in unbiased sampling
relatio of possible
n to structures and the
geologi extent to which
cal this is known
structu considering the
re deposit
type


If the relationship All holes were drilled vertically
between the as the nature of the
drilling mineralisation is horizontal.
orientation and the
orientation of key No bias attributable to
mineralised orientation of drilling has been
structures is identified.
considered to have
introduced a
sampling bias, this
should be assessed
and reported if
material.


Sample The measures taken Samples were stored in secure
securit to ensure sample storage from the time of
y security drilling. The samples were
sealed as soon as site
preparation was completed, and
again securely stored during
shipment and while at Australian
laboratories.



Audits The results of any It is considered by the Company
or audits or reviews that industry best practice
reviews of sampling methods have been employed at all
techniques and stages of the
data exploration.
SECTION 2 - REPORTING OF EXPLORATION RESULTS

Criteria Explanation Commentary
Mineral Type, reference The Company owns 100% of 8
tenement name/number, Exclusive Prospecting Licences
& land location and (EPLs) in
tenure ownership Malawi.
including EPL0355 renewed in 2019 for 2
status agreements or years, EPL0372 renewed in 2018
material issues for 2 years and EPL0413 renewed

with third parties in 2020 for 2 years. EPL0492 and
such as joint EPL0528 were granted in 2018 for
ventures, an initial period of three years
partnerships, (renewable). EPL0537 and EPL0545
overriding were granted in 2019 for an
royalties, native initial period of three years
title interests, (renewable). EL0561 was granted
historical sites, in January 2020 for an initial 3
wilderness or years (renewable) with field work
national park and permits subject to an acceptable
environment Environmental and Social
settings. Management Plan - a new
requirement under the Mining Act
2019.

The information contained within
this announcement relates to
EPL0492.

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

ExploratiAcknowledgement No other parties were involved in
on done and appraisal of exploration.
by exploration by
other other parties.
parties


Geology Deposit type, The rutile deposit type could be
geological termed a fluvial placer where
setting and style eroded heavy minerals have been
of deposited in a meandering to
mineralisation braided, wide river
channel.


Drill A summary of all All collar and composite data are
hole information provided in the body and
informat material to the Appendices of this report. All
ion understanding of holes were drilled vertically.
the exploration
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 No information has been excluded.
of this
information is
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 In reporting All results reported are of a
aggregat Exploration length-weighted average. The
ion Results, results reported in the body of
methods weighting the report are on a nominal lower
averaging cut-off of 0.5%
techniques, rutile.
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 significant aggregate
intercepts intercepts with short zones of
high
incorporate short
lengths of grade or longer lengths of low
high-grade grade have been reported.
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 equivalent values are
used for any used in this
reporting of report.
metal equivalent
values should be
clearly
stated.

RelationsThese It is considered that the
hip relationships are mineralisation lies in a shallow
between particularly channel type form and hence the
minerali important in the intercepts approximate true
sation reporting of widths.
widths Exploration
& Results.
intercep
t
lengths

If the geometry of It is considered that the
the mineralisation lies in a shallow
mineralisation channel type form and hence the
with respect to intercepts approximate true
the drill widths.

hole angle is
known, its nature
should be
reported.

If it is not known Down-hole widths approximate true
and only the down widths.
hole lengths are
reported, there
should be a clear
statement to this
effect (e.g.
''down hole
length, true
width not
known''.

Diagrams Appropriate maps Refer to figures in the body of
and sections this
(with scales) and report.
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.


Balanced Where All results have been reported in
reportin comprehensive this
g reporting of all report.
Exploration
Results is not
practicable,
representative
reporting of

both low and
high-grades
and/or widths
should be
practiced to
avoid misleading
reporting of
exploration
results.

Other Other exploration There is no other substantiative
substant data, if exploration data to
ive meaningful and report.
explorat material, should
ion be reported
data 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 Laboratory processing of the large
work scale of planned number of drill samples from the
further work late 2019 and early 2020 drilling
(e.g. test for at
lateral
extensions or Bua Channel is ongoing. Further
depth extensions drilling is planned in 2020,
or large-scale particularly in the area to the
step-out north of the current drill
drilling). lines.


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




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published by: irw
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Date: 02/24/2020 - 02:22
Language: English
News-ID 1556243
Character count: 46326
Kontakt-Informationen:
Firma: Sovereign Metals Limited
Ansprechpartner: Feedback to businesspress24.com about Pressrelease-id:
Stadt: Wien
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