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Sovereign Metals Ltd.
Summary
| Project: | Malingunde | |
|---|---|---|
| Deposit: | Malingunde | |
| Location: | Malawi | |
| Commodities: | Graphite | |
| Date: | 4/3/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 3-4-2018: Sovereign Metals Ltd. announces an Exploration/Drilling Update report for its Malingunde deposit at the Malingunde project. Drilling results incl. 21m @ 21.7% TGC from 5m. Sovereign Metals Limited (“the Company” or “Sovereign”) is pleased to rep | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Julian Stephens (Internal) | |
| ABSTRACT: | Sovereign Metals Limited (“the Company” or “Sovereign”) is pleased to report the fourth and final batch of assay results from the 2017 aircore drilling program from its 100%-owned saprolite-hosted flake graphite projects in Malawi. The results represent mostly infill drilling in the central and northern parts of the main Malingunde deposit. Aircore drilling at Malingunde, and other regional targets, was conducted in late 2017 with 209 holes for 6,212 metres completed. The drilling program was designed to further define and upgrade the JORC resource classification levels for inclusion in the mining schedule, as well as to test graphite mineralisation at other targets including Msinja and Lifidzi. The drilling continues to show high grade and very-high grade, coarse-flake graphite drill intercepts in the northern part of the deposit. The Company is targeting an updated JORC resource estimate to be delivered in Q2 2018. Sovereign’s Managing Director Dr Julian Stephens commented, “As expected, the 2017 drilling results continue to confirm Malingunde as a truly exceptional flake graphite deposit. It is contained within soft saprolite providing potential for lowest quartile capital and production costs, whilst the coarse flake profile equates to high revenues per tonne of concentrate. For these reasons, we believe Malingunde is the world’s premier graphite development, providing the potential for high-margin operations throughout the commodity cycle.” | |
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