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Sovereign Metals Ltd.
Summary
| Project: | Malingunde | |
|---|---|---|
| Deposit: | Malingunde | |
| Location: | Malawi | |
| Commodities: | Graphite | |
| Date: | 6/12/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 12-6-2018: Sovereign Metals Ltd. announces a Resource Estimation report for its Malingunde deposit at the Malingunde project. Upgraded mineral resource estimate at Malingunde. Sovereign Metals Limited (“the Company” or “Sovereign”) is pleased to report th | |
| Resources: | (Resource, Total): 65.0Mt @ 7.2% C | |
| CP/QP: | [Resources]: David Williams (CSA Global Pty Ltd.) | |
| ABSTRACT: | Sovereign Metals Limited (“the Company” or “Sovereign”) is pleased to report the updated Mineral Resource Estimate (“MRE”) for the soft saprolite-hosted Malingunde Project in Malawi. The updated MRE provides the basis for a future low capex and low opex natural flake graphite operation focused on the soft saprolite (clay)-hosted component. Recent metallurgical test-work has confirmed that a blend of saprock can be processed along with the very soft saprolite material, enabling the Company to access additional soft mineralised material not previously considered in the 2017 Scoping Study. Dr Julian Stephens, Sovereign’s Managing Director commented, “The ability to process a blend of saprock along with the very soft saprolite allows a ~60% increase in high-grade, low-cost material that Sovereign will consider as part of the Malingunde PFS. With this exceptional resource base, the Company will now progress rapid completion of the PFS, leveraging the project’s inherent low opex and high margin potential.” Saprolite-hosted graphite deposits are sought after as they generally have lower capex requirements and low operating costs compared to hard rock graphite mines. Sovereign explored the Malingunde area in 2015 and 2016, resulting in the discovery of the world’s largest reported saprolite-hosted graphite Mineral Resource reported in the maiden JORC MRE in 2017. An additional ~6,000m of aircore drilling in 2017 was undertaken primarily in order to upgrade the Mineral Resource categories. The global MRE also includes Mineral Resources from the newly discovered Msinja deposit, some 1.5km along strike to the south-east of main Malingunde deposit. Features of the Malingunde MRE include: | |
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