Sovereign Metals has announced a ‘spectacular’ 28% extension of the mineralised envelope for the Kasiya Natural Rutile project in Malawi.
The total footprint is now 165km2 with presence of high-grade rutile in a single deposit within Kasiya and Nsaru.
Natural rutile is used in the production of titanium which has many end applications from welding to paint.
The results from the drill established Kasiya’s global significance with the region being ‘the largest undeveloped natural rutile project in the world and first major rutile discovery in over half a century.’
The Kasiya and Nsaru deposits have combined to form a high-grade body of near surface rutile and graphite mineralisation which will now be known as the ‘Kasiya-Nsaru’ rutile deposit.
Highest Rutile Discoveries in Nsaru and east of Kasiya
The latest results have found the highest grade rutile to date in Nsaru and an extension east of Kasiya.
- 11m @ 1.34% inc. 2m @ 3.00% rutile
- 8m @ 1.36% inc. 2m @ 2.66% rutile
- 12m @ 1.46% inc. 4m @ 2.42% rutile
- 12m @ 1.27% inc. 3m @ 2.16% rutile
- 7m @ 1.84% inc. 4m @ 2.71% rutile
- 13m @ 1.48% inc. 5m @ 2.23% rutile
In all the drilled holes, rough flake graphite is found in close contact with rutile mineralisation. Throughout the mineralised area, graphite grades average around 1% TGC.
The upcoming JORC Mineral Resource Estimate update will include the significant new blocks of mineralisation and extensions in the footprint.
The scoping study which should be completed by Q2 2022, is being updated to included the growth in mineralisation footprint and increase in both production rates and mine life.
Sovereign metal shares were trading up 3.2% to 25.8p as investors cheers the high grade rutile deposit results.
