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Sovereign Metals Ltd.
Summary
| Project: | Malingunde | |
|---|---|---|
| Deposit: | Malingunde | |
| Location: | Malawi | |
| Commodities: | Graphite | |
| Date: | 3/15/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 15-3-2017: Sovereign Metals Ltd. announces an Exploration/Drilling Update report for its Malingunde deposit at the Malingunde project. Drilling results incl. 34m @ 12.0% TGC. Sovereign Metals Limited (“the Company” or “Sovereign”) is pleased to report the | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Julian Stephens (Internal) | |
| ABSTRACT: | Sovereign Metals Limited (“the Company” or “Sovereign”) is pleased to report the final batch of assay results from the 2016 aircore and diamond resource drilling program completed at the Malingunde saprolite-hosted flake graphite deposit in Malawi. The results continue to confirm the excellent consistency of mineralisation along strike, as well as the substantial vertical thickness of the deposit, and will be incorporated into the maiden JORC resource estimate for Malingunde, expected to be delivered in the coming weeks. Managing Director Dr Julian Stephens commented, “This final batch of drilling results results further confirms the Company’s belief that Malingunde is a world-class graphite deposit. The deposit boasts high-grade, coarse and jumbo flake concentrates, as well as having the potential for very low capital and operating costs due to the soft and easy to mine and process saprolite mineralisation.” At Malingunde, saprolite-hosted graphite mineralisation has been identified in diamond, aircore and hand auger drilling over 3.3km of strike. The latest results continue to show discrete zones of high-grade graphite mineralisation within broader zones up to 200m wide. The 2016 program comprised 180 aircore holes and 13 PQ diamond holes. Results for the final batch comprising 93 aircore holes and 5 diamond holes are presented in this report. | |
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