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Sovereign Metals Ltd.
Summary
| Project: | Malingunde | |
|---|---|---|
| Deposit: | Malingunde | |
| Location: | Malawi | |
| Commodities: | Graphite | |
| Date: | 4/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 18-4-2017: Sovereign Metals Ltd. announces a Resource Estimation report for its Malingunde deposit at the Malingunde project. Initial mineral resource confirms world's largest reported saprolite-hosted graphite resource. Sovereign Metals Limited (“the Com | |
| Resources: | (Resources: I+I): 65.1Mt @ 7.1% TGC (4.0% TGC cut-off) at project | |
| CP/QP: | [Resources]: David Williams (CSA Global Pty Ltd.) | |
| ABSTRACT: | Sovereign Metals Limited (“the Company” or “Sovereign”) is pleased to report the maiden JORC Mineral Resource Estimate from the Malingunde Project in Malawi. The Mineral Resource Estimate confirms the global significance of the Malingunde graphite deposit and provides the basis for a potentially low capex and very low opex natural flake graphite operation focused on the soft saprolite (clay)-hosted component. Dr Julian Stephens, Sovereign’s Managing Director commented, “The maiden Mineral Resource estimate has significantly exceeded our expectations and confirms Malingunde as a world-class graphite deposit. The discrete, high-grade component of the resource will provide the focus for the Company’s upcoming Scoping Study. Given this exceptional resource base, the Company can now progress completion of the Scoping Study, leveraging the project’s inherent advantages including its potential to be a very low opex and low capex operation with best-in-class margins.” 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 resource. | |
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