Sovereign Metals Limited (ASX: SVM) has identified a potentially substantial zone of shallow, high-grade saprolite-hosted rutile mineralisation at the Railroad Prospect.
Managing Director Dr Julian Stephens said the outstanding drilling results confirm that Sovereign’s ground holding in Malawi has the potential to host a new, globally significant rutile province.
“The first quantitative results from our drilling program show a significant zone of rutile mineralisation at Railroad,” Dr Stephens said.
“Our immediate drilling program is looking to expand this zone and test the very large, high tenor rutile soil anomaly at Railroad West.
Sovereign is at the beginning of what we think is the discovery of a potentially globally significant, strategic rutile province.”
The first holes drilled at Railroad targeted a high-tenor soil anomaly near the Nacala Rail Corridor. To test the anomaly, hand-auger drilling averaging about 12m depth was undertaken along the original soil sampling line.
Soil sampling at the Railroad Prospect showed a broad rutile anomaly over at least 5km length. Within this soil anomaly the initial drill results show a more defined mineralised area of at least 1.6km in length, with widths estimated to be between 300m and 500m. The drilled mineralisation is still open to the south west.
At Railroad West, drilling is ongoing and currently targeting a very large, high-tenor soil anomaly that is over 3km wide.
The Railroad discovery confirms the Company’s belief that its central Malawi project has the potential to be a new, globally significant rutile province.
Infill and step-out drilling is now focusing on the best areas of mineralisation identified so far in order to work toward an initial mineral resource.
