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Sovereign Metals hits more graphite in Malawi

Sovereign Metals hits more graphite in Malawi

Sovereign Metals (ASX:SVM) intersected more broad, high grade graphite intercepts from the first 11 holes assayed at its Duwi flake graphite project in Malawi.
 
Results include 84 metres at 9.8% TGC from 24 metres, including 20 metres at 12.8% TGC; and 74 metres at 9.4% TGC from 8 metres, including 10 metres at 12% TGC.

These drilling results, in addition to 2013 diamond drilling results, show a large body of coarse flake graphite mineralisation at Duwi Main Zone including at least two, coherent, high grade zones.

A total of 35 additional holes from the 2014 Duwi drilling program are awaiting assays, and a maiden JORC resource estimate expected to be completed early Q4 2014 by CSA Global.

During the quarter, Sovereign completed an upgrade of raw concentrates to between 99.97 and 99.98% carbon ultra-pure graphite, which was achieved across all flake size fractions.

This indicates that Duwi concentrates may be suitable for the growing market of high-value ultra-pure graphite applications in addition to traditional high volume applications.

In addition, Sovereign is involved in the Carpentaria copper-gold joint venture with a subsidiary of mining giant Glencore, which continues to manage and sole fund exploration on all tenements.

Drilling at the Beauty Prospect is expected to commence in the current quarter.

Sovereign also controls the Tate River gold and base metal project in Queensland, and is capitalised at $39 million.

 

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