Sovereign Metals Ltd (AIM:SVML) 1.8Bt MRE Confirmed as the Largest Rutile Deposit

1.8 BILLION TONNE JORC RESOURCE CONFIRMS KASIYA AS THE LARGEST RUTILE DEPOSIT EVER DISCOVERED

JORC MINERAL RESOURCE ESTIMATE UPDATE

1.8 Billion Tonnes @ 1.01% Rutile (Ind. + Inf.)

18 Million Tonnes Contained Rutile

  • Updated mineral resource estimate (MRE) confirms Kasiya as the world’s largest rutile deposit and second largest graphite deposit
  • Contained rutile at the Kasiya mega-deposit now stands at 18 Mt – tripling the previous MRE
  • Contained flake graphite by-product now stands at 23 Mt
  • High global resource grade @ 1.64% RutEq.* (recovered rutile + recovered graphite)
  • 662 Mt (37%) of the total MRE reports to the Indicated category with remainder in Inferred category
  • Scoping Study to be updated to reflect the substantial MRE scale increase to examine the impact of higher grades, increased production volumes and increased mine-life

Table 1: Kasiya Mineral Resource Estimate at 0.7% Rutile Cut-off

Sovereign’s Managing Director Dr Julian Stephens commented: It is a really remarkable achievement by our team to have made the largest natural rutile discovery ever in just two years since initial identification. The JORC MRE of this scale and grade is clearly highly strategic, Tier 1 and of global significance in a market where natural rutile is in extreme supply deficit.

The step-change in scale will now allow us to examine potentially higher-grade throughput, increased production levels and a longer mine life in the upcoming Scoping Study update. The Company is targeting a large-scale, low carbon-footprint and environmentally sustainable natural rutile and graphite operation which will also positively impact the environmental footprint of titanium pigment and other industries, and provide a significant contribution to the economy of Malawi.”

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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


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