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Sovereign Metals Limited (LSE:SVM; LSE:SVML; OTCQX:SVMLF) has announced the commencement of an infill drilling program at its Kasiya Rutile-Graphite Project in Malawi. This initiative is designed to support ongoing technical studies and is a critical step toward advancing the Project’s resource estimates and production planning.
Program Aims to Upgrade Resource Categories and Enhance Project Metrics
Drilling Program Overview
The infill drilling program aims to upgrade part of the current Mineral Resource Estimate (MRE) planned for Stage 1 production from the Indicated to the Measured category under the JORC (2012) Code. This program will focus on the southern part of the Kasiya Project, specifically targeting previously identified pits that are proposed to supply ore feed during the initial eight years of the Project's production schedule.
Key Components of the Drilling Program:
- Aircore Drilling: Over 250 holes are planned, totaling more than 5,000 metres, with an average depth of 20 metres. This drilling will help in evaluating the ore body in the targeted areas.
- Hand Auger Drilling: More than 250 holes, totaling over 750 metres with an average depth of 3 metres, will be used to supplement the aircore data and provide additional geological insights.
- Push Tube/Diamond Core Drilling: Approximately 30 holes will be drilled, providing samples for geotechnical analysis and verification, with an average depth of 20 metres.
- Detailed Pits: Several 3-metre-deep pits will be excavated to gather detailed rutile grade information from the upper profile and enhance geotechnical data.
All samples will be assayed for both rutile and graphite by offsite laboratories in South Africa. The results from this comprehensive drilling program, alongside the planned resource upgrade, are anticipated to be available in early 2025.
Project and Resource Details
The Kasiya Project is renowned as the world's largest rutile deposit and the second-largest flake graphite deposit. Currently, over 66% of the MRE is categorized as Indicated. The MRE outlines extensive and high-grade zones of rutile and graphite across a large area of over 201 km². Rutile mineralization is predominantly found in laterally extensive, near-surface "blanket" style bodies where the weathering profile is preserved. Graphite grades generally improve with depth, typically below 4 metres to the base of the saprolite zone, which averages around 22 metres.
The drilling program will employ a 200x200 metre offset pattern, resulting in an average drill spacing of 142 metres. This method will facilitate a thorough analysis of geological and grade continuity in multiple directions, enhancing the accuracy of resource estimates.
Previous Achievements and Future Outlook
Sovereign's 2022 drilling program successfully converted Inferred mineralisation into the Indicated category, demonstrating the consistency and robustness of the geology. This conversion process was efficient, with a near-one-for-one upgrade from Inferred to Indicated.
The ongoing infill drilling program is expected to further enhance the accuracy of the resource estimates and support the Project’s development. The updated resource estimate, based on the new drilling results, is projected to be completed in early 2025.
