Sovereign Metals releases Duwi Resource

THE DRILL SERGEANT: Sovereign Metals (ASX: SVR) has reported the maiden JORC Mineral Resource estimate for the company’s Duwi project in Malawi.

Sovereign Metals claimed the Resource has confirmed the project to be one of the largest, high-grade, flake graphite deposits in the world.

The total Indicated and Inferred Mineral Resource estimate at Duwi has come in at 86 million tonnes at 7.1 per cent  total graphitic carbon (TGC), containing 6.13 million tonnes of graphite (5 per cent TGC cut-off).

The company explained that approximately 2.2 kilometres has so far been drilled of the known 24km strike length of the Duwi Trend, which it has interpreted to indicate the existence of potential to expand resources with further drilling.

The Indicated portion of the Mineral Resource estimate consists 17 million tonnes at 8.1 per cent TGC (7 per cent TGC cut-off) from surface to approximately 150m below surface.

Sovereign Metals indicated it will commence a Scoping Study immediately to examine a production scenario of 30,000 tonnes of flake graphite per annum and expanded scenario of 65,000 tonnes per annum, based on the Indicated Resource area and Duwi’s world-class large flake metallurgical properties.

“We are very pleased with this initial Mineral Resource estimate at Duwi, that validates our belief in the potential for low-cost, high-grade, flake graphite mining in Malawi,” Sovereign Managing Director Matt Syme said in the company’s announcement to the Australian Securities Exchange.

“CSA Global’s resource estimates and metallurgical testwork by Mintek and SGS Lakefield reinforce that Duwi is in the top handful of potential new graphite producers around the world.

“We will now get on with further proving the potential both at Duwi and at our large portfolio of saprolite-hosted exploration targets.”

Email: info@sovereignmetals.com.au

Website: www.sovereignmetals.com.au