- Sovereign Metals (SVM) confirms the growth potential its Kasiya deposit in Malawi, after receiving results from aircore drilling
- Sovereign completed a 191-hole program which returned deeper and thicker rutile intercepts including 28 metres at 1.05 per cent rutile
- The company says the results show the potential to grow Kasiya at depth, with extensive rutile mineralisation outside the current mineral resource estimate (MRE) and pit shells
- The company is targeting an update to the MRE for the first quarter of next year
- Shares are trading 4.88 per cent higher today at 43 cents each at 1:08 pm AEST
Sovereign Metals (SVM) has confirmed the growth potential of its Kasiya deposit in Malawi, after receiving results from aircore drilling.
The company completed a 191-hole aircore drill program, which saw deeper and thicker rutile intercepts than previous drilling.
The first drilling results confirmed rutile mineralisation extends at depth beneath previous drilling in most of the targeted areas.
One of the best results hit 28 metres at 1.05 per cent rutile, including five metres 1.78 per cent rutile.
Sovereign said the results demonstrate the potential to grow Kasiya at depth, with extensive rutile mineralisation outside the current mineral resource estimate (MRE) and pit shells.
The company aims to deliver an updated MRE in the first quarter of next year.
Meanwhile, its pre-feasibility study (PFS) and Environmental and Social baseline work streams are advancing, with a scheduled completion for the second quarter of next year.
Managing Director Dr Julian Stephens said the results “re-asserts the truly remarkable nature” of the Kasiya deposit in terms of size, grade and mineralisation consistency.
“Kasiya continues to grow and will likely become a multi generational project capable of supplying a reliable and sustainable source of high-purity titanium as natural rutile,” he said.
Shares were trading 4.88 per cent higher today at 43 cents each at 1:08 pm AEST.