Sovereign Metals Ltd (ASX:SVM, AIM:SVML) has received further strong aircore drilling results that confirm the potential for open pit expansion potential at Kasiya Rutile Project in Malawi, the world’s largest rutile deposit.
A targeted deep aircore program has extended large zones of high-grade rutile mineralisation to depth beneath initial planned open pit shells.
Results such as 28 metres at 1.07% rutile including 5 metres at 1.52% and 26 metres at 1.04% rutile including 5 metres at 1.48% confirm that rutile and graphite mineralisation is continuous from surface down to the top of saprock generally at 20-25 metres vertical depth in key mineralised areas.
Expansion potential
They highlight the potential for the mining pits to be extended at depth.
Sovereign’s managing director Dr Julian Stephens said: “We’re really pleased with the continued success from the deep aircore 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.”
Aircore drilling location map showing the drilling concentrated within proposed mining pits.
Large aircore program
The completed 191-hole aircore drilling program was divided into an initial 32-hole sighter phase with results previously reported and a second more expansive 159-hole phase.
These results of 61 holes for 1,298 metres are the first batch of the expansive phase with results for the remaining 98 holes for 2,548 metres pending.
The sighter phase focused on mineralised corridors where high-grade rutile mineralisation was hypothesised to persist at depth.
Once validated, the company shifted its focus to a second phase concentrating on depth extensions to the early-scheduled mining pit shells.
Strong results
Other results include:
- 24 metres at 1.02% rutile including 6 metres at 1.42%;
- 23 metres at 1.05% including 3 metres at 1.69%;
- 23 metres at 1.03% including 5 metres at 1.26%;
- 23 metres at 1.01% including 5 metres at 1.18%;
- 22 metres at 1.08% including 5 metres at 1.68%;
- 21 metres at 1.06% including 5 metres at 1.51%;
- 20 metres at 1.23% including 5 metres at 1.70%;
- 20 metres at 1.22% including 3 metres at 1.95%;
- 20 metres at 1.18% including 6 metres at 1.58%; and
- 18 metres at 1.26% including 8 metres at 1.39%.
Progressing PFS
Sovereign is progressing a PFS which will build on the June 2022 expanded scoping study (ESS) that confirmed Kasiya as one of the world’s largest and lowest cost producers of natural rutile and natural graphite with a carbon footprint substantially lower than current alternatives.
The 2022 aircore drilling program is the first major PFS activity completed and was designed to extend indicated zones at depth to the base of saprolite at about 25 metres, from the current ~14-metre average drill depth.
Drilling was completed on a 200 x 200-metre grid to target indicated classification which after receiving the final batch assays will be modelled to update the JORC resource estimate which is planned for Q1 2023.
Kasiya resource
Kasiya has a total resource to date of 1.775 billion tonnes at 1.01% rutile for 18 million tonnes of rutile and 1.32% total contained graphite (TGC) for 23.4 million tonnes of TGC.
There are 662 million tonnes in the indicated category and 1.113 billion tonnes in the inferred category.