Sign up Australia
Proactive Investors - Run By Investors For Investors

Sovereign Metals hits more graphite in Malawi

Sovereign Metals hits more graphite in Malawi

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.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

View full SVM profile View Profile

Sovereign Metals Ltd Timeline

Related Articles

Underground mining in action
March 07 2018
A recent debt and equity restructure has set the company up to explore growth opportunities.
Picture of Emmerson's managing director and mining team
January 28 2018
Deposits in the Macquarie Volcanic Arc are often part of much larger systems.
Photo of blue mineralisation at Thackaringa
April 09 2018
The market hasn’t fully appreciated the company’s strong market connection with JV partner Cobalt Blue Holdings Ltd.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use