- Sovereign Metals (SVM) reports ‘spectacular’ intercepts of rutile at its flagship Kasiya project in Malawi
- The results are the highest-grade rutile identified at the project to date with a new extension east of Kasiya
- SVM says the overall mineralised envelope has grown 28 per cent to 165 square kilometres
- The Kasiya and Nsaru deposits have been combined into possibly the largest rutile deposit in the world
- Shares have ended the day 1.15 per cent higher today at 44 cents each
Sovereign Metals (SVM) has reported ‘spectacular’ intercepts of rutile at its flagship Kasiya project in Malawi.
The results are the highest-grade rutile identified at the project to date with a new extension east of Kasiya.
The best intercept was 11 metres at 1.34 per cent rutile including two metres at 3 per cent rutile.
The company said the overall mineralised envelope has grown 28 per cent to 165 square kilometres.
The results are expected to increase the Indicated and Inferred categories in the upcoming Mineral Resource Estimate (MRE) upgrade.
The Kasiya and Nsaru deposits have been combined to form a single, very large, coherent, high-grade body of near surface and graphite mineralisation. The company believes this could now be the largest rutile deposit in the world.
“The results of the latest drilling program have surpassed all of our expectations,” Managing Director Dr Julian Stephens said.
“Not only did we encounter the highest rutile grades to date, but the coalescing of the Kasiya and Nsaru deposits supports our belief that we have the single largest rutile deposit in the world on our hands.”
Shares ended the day 1.15 per cent higher today at 44 cents each.