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Sovereign Metals Ltd.

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Summary

Project:

Malingunde

Deposit:Malingunde
Location:Malawi
Commodities:Graphite
Date:2/21/2017
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resources Definition
Report details:21-2-2017: Sovereign Metals Ltd. announces an Exploration/Drilling Update report for its Malingunde deposit at the Malingunde project. Drilling results incl. 32m @ 9.2% TGC from 6m. Sovereign Metals Limited (“the Company” or “Sovereign”) is pleased to rep
Resources:x
CP/QP:[Overall Report]: Julian Stephens (Internal)
ABSTRACT:Sovereign Metals Limited (“the Company” or “Sovereign”) is pleased to report further assay results from the aircore resource-drilling program completed in late 2016 at the Malingunde saprolite-hosted flake graphite deposit in Malawi. Managing Director Dr Julian Stephens commented, “The Malingunde soft saprolite-hosted graphite deposit continues to tick all the boxes for Sovereign. These latest results further confirm the high-grade nature, strike extent and vertical thicknesses of the saprolite-hosted mineralisation. The deposit boasts high-grade, coarse and jumbo flake concentrates, as well as potentially very low capital and operating costs as a function of the soft and friable saprolite mineralisation.” Continued Aircore Drilling Results At Malingunde, saprolite-hosted graphite mineralisation has been identified in diamond, aircore and hand auger drilling over 3.4km of strike with cumulative across strike widths locally exceeding 200m and averaging about 120m. The 2016 aircore program comprised 180 holes for 5,517 metres. To date, assay results for a total of 87 aircore holes have been returned, with the latest 65 holes presented in this report. A complete table of significant intercepts is shown in Table B. Appendix 1. The results continue to highlight wide zones of saprolite-hosted flake graphite over the strike length of the Malingunde deposit, with aircore and diamond drilling assays received to date defining consistent high-grade mineralisation over a strike length of 1.3km. Assays are pending for an additional 94 aircore holes and 5 diamond holes that cover a further 2.1km of strike length initially defined by hand auger drilling.

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