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Sovereign Metals Ltd.
Summary
| Project: | Malingunde | |
|---|---|---|
| Deposit: | Bua Channel | |
| Location: | Malawi | |
| Commodities: | Rutile | |
| Date: | 2/3/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 3-2-2020: Sovereign Metals Ltd. announces an Exploration/Drilling Update report for its Bua Channel deposit at the Malingunde project. Drilling results incl. 7m @ 0.81% rutile, 1.0% ilmenite, 0.11% zircon from surface. Sovereign Metals Limited (“the Compa | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Julian Stephens (Internal) | |
| ABSTRACT: | Sovereign Metals Limited (“the Company” or “Sovereign”) is pleased to announce that shallow handauger drilling completed in late 2019 has identified a new, sand-hosted placer rutile prospect in Malawi. This new discovery is additional to the significant saprolite-hosted rutile mineralisation already identified, and further supports the Company’s belief it has identified a potentially globally significant, strategic rutile province across its large Malawi ground holding. Following the discovery of Bua, Sovereign’s Managing Director Dr Julian Stephens commented: “The discovery of classic sand-hosted, placer-style rutile mineralisation further supports our belief that we have identified a potentially globally significant, strategic rutile province. We now have two styles of rutile mineralisation, residual saprolite-hosted and placer sand-hosted within our large ground holding in Malawi. A substantial number of hand-auger and deeper aircore drilling samples are being processed in Perth with further results expected in a number of batches in the coming weeks.” In late 2019, the Company continued to rapidly progress its rutile exploration programs in Malawi via handauger and deeper air-core drilling programs. A total of 101 hand-auger holes for 800m were drilled across four separate prospects, whilst a total of 68 deeper air-core holes were drilled across the new Bua Channel prospect and the Railroad and Railroad West residual saprolite-hosted prospects. An initial 19 hand-auger holes were drilled on a new, highly prospective soil anomaly over saprolite at the Kasiya prospect. | |
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