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Sovereign Metals Ltd.
Summary
| Project: | Malingunde | |
|---|---|---|
| Deposit: | Malingunde | |
| Location: | Malawi | |
| Commodities: | Graphite | |
| Date: | 8/29/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 29-8-2016: Sovereign Metals Ltd. announces an Exploration/Drilling Update report for its Malingunde deposit at the Malingunde project. Hand auger assay results incl. 10m @ 16.3% TGC. Sovereign Metals Limited (“the Company” or “Sovereign”) is pleased to re | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Julian Stephens (Internal) | |
| ABSTRACT: | Sovereign Metals Limited (“the Company” or “Sovereign”) is pleased to report the latest results received from its Malingunde saprolite-hosted flake graphite deposit which continue to show excellent grades and mineralisation continuity. The Company has also commenced its maiden diamond drilling program at this exciting prospect and expects initial metallurgical results in September. Sovereign’s Malingunde and Lifidzi areas occur on the Lilongwe Plain, which has a largely preserved, deep tropical weathering profile and hence significant thicknesses of saprolite (Figure 1). These areas are also underlain by the same paragneiss rock package that hosts Sovereign’s hard rock Duwi flake graphite deposit, 15km east of Lilongwe. From late 2014 and through to mid-2016 Sovereign utilised hand-auger drilling to discover a major saprolite-hosted flake graphite deposit at Malingunde in addition to five satellite deposits at Lifidzi (Figure 2). Results from the recent hand auger program at Malingunde continue to show excellent grades and continuity of the saprolite-hosted flake graphite mineralisation. Significant saprolite thicknesses are suggested because the majority of holes ended at vertical depths of between 10m and 12m (the depth capacity of the hand auger tool) within saprolite. The Company has also just commenced a diamond drilling program at Malingunde in order to test the vertical thicknesses of saprolite-hosted flake graphite mineralisation as well as to provide core for ongoing metallurgical test-work. Initial metallurgy samples from Malingunde are already at SGS Lakefield in Canada and first results of this test-work are expected in September. | |
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