Sovereign Metals (ASX:SVM) commences PFS drill program at Kasiya

• Sovereign Metals (SVM) begins its pre-feasibility study (PFS) drill program at its Kasiya rutile project in Malawi
• The company will complete a 10,000-metre air-core drilling program to extend indicated zones of saprolite at depth for the upcoming PFS
• In addition, SVM will also undertake a core drilling program across Inferred areas in an attempt to upgrade resources into the indicated and measured categories
• Simultaneously, extensional and hand-auger drilling will continue with an aim to expand the overall mineralised footprint of the project
• Shares are trading down 1.82 at 54 cents each at 1:11 pm AEST

Sovereign Metals (SVM) has begun its pre-feasibility study (PFS) drill program at its Kasiya rutile project in Malawi.

A number of drilling techniques will be undertaken to expand and upgrade the company’s resources, ahead of the upcoming PFS.

A 10,000-metre air-core drilling program will be conducted to extend Indicated zones of saprolite at depth.

The indicated zones are expected to convert to Probable Reserves in the PFS.

In addition, SVM will also undertake a core drilling program across inferred areas in an attempt to upgrade resources into the indicated and measured categories.

Simultaneously, extensional and hand-auger drilling will continue with an aim to expand the overall mineralised footprint of the project.

Meanwhile, an updated scoping study is due in the coming weeks and will incorporate the “significant” increase in mineral resource estimate (MRE) tonnage.

Shares were trading down 1.82 per cent at 54 cents each at 1:11 pm AEST.