Drilling Defines Major High Grade Rutile Discovery at Kasiya
(firmenpresse) -
Sovereign Metals Limited (the Company or Sovereign) is pleased to report outstanding maiden drilling results from the Kasiya Prospect (Kasiya) which show extensive, high-grade rutile from surface in soft, free-dig saprolite. This maiden shallow drilling program targeted a large and very high tenor rutile soil anomaly identified by Sovereigns field geological team (ASX announcement 16 January 2020).
HIGHLIGHTS
- +1.8km estimated true surface width of high-grade rutile mineralisation confirmed with strike length currently unconstrained and open in both directions
- Key shallow drilling results received to date include;---
o 7m (at) 1.27% rutile inc. 3m (at) 1.80% rutile from surface
o 8m (at) 1.17% rutile inc. 5m (at) 1.30% rutile from surface
o 14m (at) 0.92% rutile inc. 3m (at) 1.38% rutile from surface
o 13m (at) 1.09% rutile inc. 3m (at) 1.27% rutile at depth (EOH)
o 10m (at) 1.06% rutile inc. 4m (at) 1.46% rutile at depth (EOH)
*All primary intercepts commence at surface
- 14 of 19 holes drilled intersected the high-grade rutile zone with 11 of these 14 exhibiting +1% rutile grades from surface
- High-grade rutile occurs down to 13m, averages ~8m thick and remains open at depth in a number of holes
- A substantial extensional and in-fill drill program at Kasiya continues with a second batch of samples already despatched to Perth for laboratory analysis
- Additional results pending for the initial drill-tested 8km of the Bua Channel Prospect (sand-hosted) with further extensional drilling over its full ~50km length in the advanced planning stage
Sovereigns Managing Director Dr Julian Stephens commented:
These are the best drill results Sovereign has achieved since commencing rutile exploration in Malawi. Kasiya is a new, high-grade, free-dig, saprolite-hosted zone of rutile mineralisation. The majority of the highest-grade zones are at surface and grades overall are consistent over significant lateral distances. We believe Kasiya and surrounding prospects could collectively develop into a large rutile deposit cluster.
Sovereign is now in an enviable position with two high-priority rutile prospects identified at Kasiya (saprolite) and Bua Channel (sand). These prospects will be the target of extensional and infill drilling in 2020 in order to define JORC mineral resource estimates. We are looking forward to updating the market as we continue to unlock this potentially globally significant and strategic rutile province.
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 MAIDEN DRILL PROGRAM
A total of 19 shallow hand-auger holes for 195m over two drill-lines were completed at Kasiya in January 2020. The Company has received quantitative laboratory results for this maiden drill program which display very extensive, high-grade rutile from surface hosted in soft, friable saprolite.
The majority of the near surface, high-grade zones are relatively consistent over significant lateral distances. 14 of the 19 holes drilled intersected the interpreted high-grade rutile zone with 11 of these 14 well-mineralised holes exhibiting +1% rutile grades from surface.
The results show a large target area with mineralisation currently identified over +1.8km estimated true surface width. The two drill lines were about 1.1km apart along strike with mineralisation remaining unconstrained and open in both directions. High-grade rutile was encountered as far as 13m below surface in some holes and has an average thickness of approximately 8m. High-grade rutile mineralisation remains broadly open in all directions laterally, and in some areas at depth i.e. +13m.
https://www.irw-press.at/prcom/images/messages/2020/51256/200316 Kasiya HA results_FINALPRcom.001.jpeg
Figure 1. Drill plan showing initial shallow hand-auger results and rutile mineralisation at Kasiya.
These initial shallow drilling results at Kasiya have confirmed high-grade rutile mineralisation over a potentially large area, which remains mostly unconstrained by drilling to date. The Company is now continuing with a substantial drilling program primarily to determine areal extent, depth and grade of rutile mineralisation with a view to targeting a JORC resource later in 2020.
First phase results from shallow hand-auger results with 19 holes received to date include;---
- 7m (at) 1.27% rutile inc. 3m (at) 1.80% rutile at surface
- 8m (at) 1.17% rutile inc 5m (at) 1.30% rutile at surface
- 14m (at) 0.92% rutile inc. 3m (at) 1.38% rutile at surface
- 13m (at) 1.09% rutile inc. 3m (at) 1.27% rutile at surface
- 10m (at) 1.06% rutile inc. 4m (at) 1.46% rutile from 6m (EOH)
*All primary intercepts commence at surface.
https://www.irw-press.at/prcom/images/messages/2020/51256/200316 Kasiya HA results_FINALPRcom.002.jpeg
Figure 2. Cross section 8478200 at Kasiya showing the high-grade rutile mineralisation intersected in the maiden hand-auger drilling program.
Shallow drilling results received to date for Kasiya are shown below in Table 1 below and Figure 2 above.
Table 1. Initial drilling results from the first 19 Kasiya Prospect hand auger holes.
Hole ID Interval Rutile % From (m) Downhole
Thickness
KYHA0020 4m 1.24 surface
KYHA0021 13m 1.09 surface
inc 3m 1.27 10m
KYHA0022 9m 0.88 surface
inc 2m 1.33 surface
KYHA0023 14m 0.92 surface
inc 5m 1.19 surface
inc 3m 1.38 surface
KYHA0024 7m 0.91 surface
inc 2m 1.13 surface
KYHA0025 12m 1.04 surface
inc 8m 1.17 surface
inc 5m 1.30 surface
KYHA0026 8m 0.74 surface
inc 3m 1.04 surface
KYHA0027 7m 1.27 surface
inc 3m 1.80 surface
KYHA0028 2m 1.40 surface
KYHA0029 2m 1.18 surface
KYHA0030 no
significant
results
KYHA0031 5m 0.65 surface
KYHA0032 14m 0.63 surface
inc 3m 0.94 surface
KYHA0033 5m 0.65 surface
KYHA0034 12m 0.81 surface
inc 6m 1.08 surface
inc 3m 1.36 surface
KYHA0035 10m 1.06 surface
inc 7m 1.21 3m
inc 4m 1.46 6m
KYHA0036 6m 0.62 surface
KYHA0037 3m 0.89 surface
KYHA0038 11m 0.66 surface
inc 7m 0.75 4m
*Significant results are reported at 0.5% rutile lower cut-off.
Additionally, Kasiya is within regional proximity to the previously announced Railroad saprolite-hosted prospects which suggests the potential for cumulatively large to very large tonnages of rutile mineralisation within a small radius across a number of prospects.
https://www.irw-press.at/prcom/images/messages/2020/51256/200316 Kasiya HA results_FINALPRcom.003.jpeg
Figure 3. Map showing the Kasiya Prospect and other surrounding saprolite hosted rutile prospects including Railroad and Railroad West.
ABOUT SOVEREIGN
Sovereign 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 amenable to conventional processing. Known rutile mineralisation to date is generally unconstrained across the Companys large ground position, offering extensive exploration upside.
Sovereigns large ground holding hosts extensive rutile mineralisation from surface as a residual placer comprised of free-dig saprolite material formed by complete weathering of rutile-rich paragneiss basement rocks. Sovereign has demonstrated that rutile is able to extracted from saprolite, and has produced a high-quality product using conventional mineral sands processing methods with no critical impurities and with many parameters at best-in-class levels. Kasiya is the Companys highest-grade, and potentially largest, saprolite-hosted prospect identified to date.
The Company also identified high-grade, fluvial placer-style, sand-hosted rutile mineralisation at the Bua Channel where ~50km length has been identified as prospective.
These discoveries provide the Company with two discrete style of high-grade rutile mineralisation which are being actively explored. Sovereign is targeting definition of a substantial rutile mineral resource in 2020 that can support a long-life, large scale mining operation.
Hand-auger drilling continues at Kasiya and other saprolite-hosted prospects. Planning is advanced for air-core and sonic drill programs to commence post cessation of the wet season across both the Kasiya prospect and the Bua Channel.
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.
https://www.irw-press.at/prcom/images/messages/2020/51256/200316 Kasiya HA results_FINALPRcom.004.jpeg
Figure 4. Project map showing key rutile prospects and the Companys large ground holding in central Malawi.
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.
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
KYHA0020 539195 8478195 1075 11
KYHA0021 538986 8478200 1075 13
KYHA0022 538802 8478206 1074 9
KYHA0023 538598 8478203 1073 14
KYHA0024 538400 8478208 1072 12
KYHA0025 538202 8478215 1069 12
KYHA0026 537999 8478210 1063 8
KYHA0027 537800 8478202 1066 7
KYHA0028 537600 8478200 1067 7
KYHA0029 537400 8478197 1070 6
KYHA0030 537200 8478198 1077 9
KYHA0031 537001 8478196 1082 10
KYHA0032 536800 8478182 1082 14
KYHA0033 536599 8478199 1080 14
KYHA0034 539201 8479201 1094 12
KYHA0035 538800 8479200 1090 10
KYHA0036 538402 8479200 1085 6
KYHA0037 537600 8479201 1068 10
KYHA0038 538030 8479197 1080 11
* All holes were vertical.
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