SVM to boost 1.8Bt indicated resource at Kasiya with more drilling

• Infill drilling on the southern part of the Kasiya deposit aims to upgrade resources from indicated to measured
• This area around previously designated pits is proposed to provide ore feed in the first eight years of the project’s planned production
• Results from drilling are expected in early 2025

Special report: A program of infill aircore drilling is likely to upgrade part of the current resource for Stage 1 production from the indicated to high confidence measured category, which enables mine planning.

Backed by mega miner Rio Tinto (ASX:RIO), Sovereign Metals (ASX:SVM) has been focused on progressing the Kasiya deposit in Malawi at rapid pace with pilot phase mining.

That work has so far resulted in the completion of a dry mining trial with a test pit excavated to a depth of 20m, confirming Kasiya’s ore can be efficiently mined using conventional dry mining techniques and a simple mobile excavator fleet.

Kasiya is already the world’s largest rutile deposit and second-largest flake graphite deposit, with over 66% of the current MRE in the indicated category.

A PFS released late last year showed the deposit’s potential to produce 222,000tpa of rutile and 244,000tpa of natural graphite across a 25-year life of mine.

Infill drilling to upgrade resource to measured category

The company is now turning to infill drilling over the southern part of the deposit, specifically around previously designated pits proposed to provide ore feed in the first eight years of the project’s planned production schedule.

Designed by SVM and overseen by the RIO-SVM technical committee, an offset 200m x 200m program has been designed which will result in an average drill spacing of 142m.

The offset spacing has the advantage of allowing analysis of geology and grade continuity in both orthogonal and diagonal directions.

Aircore, supported by push tube/diamond core and hand auger drilling, will upgrade part of the current resource planned for Stage 1 production from the indicated to the measured category, the highest level of geologic knowledge and confidence.

Results expected early 2025

“Our infill drilling program will target areas of Kasiya where we expect the first seven to eight years of production to come from,” SVM managing director Frank Eagar says.

“The program design was overseen by the Rio Tinto-Sovereign Technical Committee, which again illustrates the benefits of the Rio Tinto partnership since their initial investment in July 2023.”

All samples will have both rutile and graphite assayed by offsite laboratories in South Africa.

Results of the drilling program and subsequent resource upgrade are expected in early 2025.

This article was developed in collaboration with Sovereign Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.