Sovereign Metals (ASX:SVM) should trade higher after the discovery of a new zone of high-grade flake graphite mineralisation at Duwi in Malawi
The new zone, named Duwi Bend, was discovered by mapping and rock-chip sampling followed by a recently completed trench along an excavated road cutting.
Substantial widths of medium and high-grade flake graphite mineralisation were intersected in a trench at Duwi Bend, immediately east of Duwi Main zone.
The trench, oriented obliquely to the mineralised trend, returned a cumulative intercept of 170 metres at 8% TGC.
This cumulative hit comprised individual intercepts of 46 metres at 8.6% TGC, 50 metres at 8.9% TGC, and 74 metres at 7.1% TGC including 14m at 9.5% TGC.
A single reverse circulation hole drilled directly beneath the trench intercepts showed visually consistent, wide zones of flake graphite mineralisation, for which laboratory results are awaited.
The drilling program is ongoing.
In addition, another substantial zone of high-grade mineralisation has been mapped at Nyama to the west of Duwi Main.
The next objective at Duwi is to define sufficient high grade mineralisation near surface to undertake a Scoping Study.
Sovereign will be aiming for a simple, low cost, open pit mining operation producing flotation concentrates with a large proportion of Jumbo and Large flake graphite.
The company also controls the Dedza graphite project with average assays of 10.3% CGT, large and jumbo flake sizes, and is next to the M1 national highway.
Drilling and trenching is also underway at Dedza.
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