Sovereign Metals Limited (ASX:SVM, AIM:SVML) (Sovereign or the Company) is pleased to report further significant results for 61 AC holes from the Kasiya Rutile Project (Kasiya), the world’s largest rutile deposit.
· Drilling results from the Company’s targeted deep air-core (AC) program extend substantial zones of high-grade rutile mineralisation to depth beneath initial planned open pit shells (main areas averaging ~15m depth).
· This newly defined high-grade rutile and graphite mineralisation at depths >15m is consistent and occurs in coherent blocks.
· Highlights include:
· Kasiya’s Pre-Feasibility Study (PFS) and Environmental and Social baseline workstreams are advancing with all major project work programs already underway.
The results confirm that rutile and graphite mineralisation is continuous from surface down to the top of saprock generally at 20-25m vertical depth in key mineralised areas. Results highlight the potential for the mining pits to be extended at depth.
Sovereign’s Managing Director Dr Julian Stephens commented: “We’re really pleased with the continued success from the deep air-core program which is confirming the potential for several pit expansions at depth. It remains a very busy time for the Company as we continue to receive drilling results and our PFS is approaching a peak level of activity”.
Dr Julian Stephens (Perth)
+61(8) 9322 6322
Sam Cordin (Perth)
+61(8) 9322 6322
Sapan Ghai (London)
+44 207 478 3900
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