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Sovereign Metals Ltd.

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Summary

Project:

Kasiya

Deposit:Kasiya
Location:Malawi
Commodities:Rutile
Date:3/16/2020
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resources Definition
Report details:16-3-2020: Sovereign Metals Ltd. announces an Exploration/Drilling Update report for its Kasiya deposit at the Kasiya project. Drilling results incl. 16m @ 1.09% Rutile from 0m. Sovereign Metals Limited (“the Company” or “Sovereign”) is pleased to report
Resources:x
CP/QP:[Overall Report]: Julian Stephens (Internal)
ABSTRACT:Sovereign Metals Limited (“the Company” or “Sovereign”) is pleased to report outstanding maiden drilling results from the Kasiya Prospect (“Kasiya”) which show extensive, high-grade rutile from surface in soft, free-dig saprolite. This maiden shallow drilling program targeted a large and very high tenor rutile soil anomaly identified by Sovereign’s field geological team (ASX announcement 16 January 2020). A total of 19 shallow hand-auger holes for 195m over two drill-lines were completed at Kasiya in January 2020. The Company has received quantitative laboratory results for this maiden drill program which display very extensive, high-grade rutile from surface hosted in soft, friable saprolite. The majority of the near surface, high-grade zones are relatively consistent over significant lateral distances. 14 of the 19 holes drilled intersected the interpreted high-grade rutile zone with 11 of these 14 well-mineralised holes exhibiting +1% rutile grades from surface. The results show a large target area with mineralisation currently identified over +1.8km estimated true surface width. The two drill lines were about 1.1km apart along strike with mineralisation remaining unconstrained and open in both directions. High-grade rutile was encountered as far as 13m below surface in some holes and has an average thickness of approximately 8m. High-grade rutile mineralisation remains broadly open in all directions laterally, and in some areas at depth i.e. +13m.

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