Sovereign Metals initiates extensive follow-up drill campaign at Kasiya
Proactive Investors
Published Mar 27, 2024 09:43
Updated Mar 27, 2024 10:00
Sovereign Metals initiates extensive follow-up drill campaign at Kasiya
Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) has launched an extensive follow-up drilling program at its Kasiya Rutile-Graphite Project in Malawi, focusing on the northern region beyond the existing resource area.
The initiative, part of an ongoing optimisation program in collaboration with strategic investor Rio Tinto (ASX:RIO), aims to map the mineralisation's boundaries and extent.
The Kasiya Project, already distinguished as the world’s largest natural rutile deposit and the second-largest flake graphite deposit, covers more than 201 square kilometres, boasting a mineral resource estimate (MRE) of 1.8 billion tonnes comprising 1.0% rutile and 1.4% graphite.
This drilling campaign, featuring more than 70 hand-auger holes spaced 400 metres apart, is targeting areas identified in prior reconnaissance efforts.
Drilling activities are in progress, with expectations to complete within weeks. Sovereign has mobilised four hand-auger teams under its in-country technical team’s guidance.
Samples from the drill sites will be processed initially at the company’s laboratory in Lilongwe before undergoing final analysis at certified international labs.
Adding to the project’s potential, a recent drilling venture south of the Kasiya MRE zone unveiled an 8-kilometre extension of mineralisation, lending weight to the company's belief in the site's expansive and high-grade mineral wealth.
These findings, coupled with the current northern exploration, highlight the expansive scope of Kasiya’s mineral resources, promising substantial developments in the coming weeks.
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