The 2016 aircore program comprised 180 holes for 5,517 metres. To date, assay results for a total of 87 aircore holes have been returned, with highlight intersections including:
- 24 metres @ 11.9% total graphitic carbon (TGC) including 10 metres at 17.1% TGC;
- 26 metres @ 11.0% TGC including 4 metres at 20.0% TGC; and
- 12 metres @ 15.7% TGC including 6 metres at 23.8% TGC.
The results continue to highlight wide zones of saprolite-hosted flake graphite over the strike length of the Malingunde deposit.
Sovereign’s drilling assays received to date have defined a consistent high-grade mineralisation over a strike length of 1.3 kilometres.
The assays are pending for an additional 94 aircore holes and 5 diamond holes that cover a further 2.1 kilometres of strike length initially defined by hand auger drilling.
Meanwhile, a program of downstream test-work focussed on li-Ion battery and expandable graphite applications has commenced at a renowned German industrial minerals laboratory.
The company’s initial resource estimate is targeted for Q1 2017 and a scoping study is targeted for early Q2 2017.
Sovereign’s shares were last trading 5.56% higher intra-day on Tuesday, at $0.095.