TIDMSVML
RNS Number : 2890H
Sovereign Metals Limited
05 April 2022
SOVEREIGN METALS LIMITED
NEWS RELEASE | 5 APRIL 2022
1.8 BILLION TONNE JORC RESOURCE CONFIRMS KASIYA AS THE LARGEST
RUTILE DEPOSIT EVER DISCOVERED
JORC MINERAL RESOURCE ESTIMATE UPDATE
1.8 Billion Tonnes @ 1.01% Rutile (Ind. + Inf.)
18 Million Tonnes Contained Rutile
==================================================
-- Updated mineral resource estimate (MRE) confirms Kasiya as
the world's largest rutile deposit and second largest graphite
deposit
-- Contained rutile at the Kasiya mega-deposit now stands at 18
Mt - tripling the previous MRE
-- Contained flake graphite by-product now stands at 23 Mt
-- High global resource grade @ 1.64% RutEq.* (recovered rutile
+ recovered graphite)
-- 662 Mt (37%) of the total MRE reports to the Indicated category
with remainder in Inferred category
-- Scoping Study to be updated to reflect the substantial MRE
scale increase to examine the impact of higher grades, increased
production volumes and increased mine-life
Table 1: Kasiya Mineral Resource Estimate at 0.7% Rutile Cut-off
Mineral Resource Material Tonnes Rutile Rutile Tonnes TGC TGC Tonnes RutEq. Grade*
Category (millions) (%) (millions) (%) (millions) (%)
-------------------- ------------------- ------- -------------------- ------ -------------------- --------------
Indicated 662 1.05% 6.9 1.43% 9.5 1.73%
==================== =================== ======= ==================== ====== ==================== ==============
Inferred 1,113 0.99% 11.0 1.26% 14.0 1.59%
==================== =================== ======= ==================== ====== ==================== ==============
Total 1,775 1.01% 18.0 1.32% 23.4 1.64%
==================== =================== ======= ==================== ====== ==================== ==============
Sovereign's Managing Director Dr Julian Stephens commented: It
is a really remarkable achievement by our team to have made the
largest natural rutile discovery ever in just two years since
initial identification. The JORC MRE of this scale and grade is
clearly highly strategic, Tier 1 and of global significance in a
market where natural rutile is in extreme supply deficit.
The step-change in scale will now allow us to examine
potentially higher-grade throughput, increased production levels
and a longer mine life in the upcoming Scoping Study update. The
Company is targeting a large-scale, low carbon-footprint and
environmentally sustainable natural rutile and graphite operation
which will also positively impact the environmental footprint of
titanium pigment and other industries, and provide a significant
contribution to the economy of Malawi."
ENQUIRIES
Dr Julian Stephens (Perth) Sam Cordin (Perth) Sapan Ghai (London)
Managing Director +61(8) 9322 6322 +44 207 478 3900
+61(8) 9322 6322
Nominated Adviser on AIM
RFC Ambrian
Bhavesh Patel / Andrew Thomson +44 20 3440 6800
Joint Brokers
Berenberg +44 20 3207 7800
Matthew Armitt
Jennifer Lee
Varun Talwar
Optiva Securities +44 20 3137 1902
Daniel Ingrams
Mariela Jaho
Christian Dennis
*Formula: Rutile Grade x Recovery (97%) x Rutile Price
(US$1,346/t) + Graphite Grade x Recovery (62%) x Graphite Price
(US$1,085/t) / Rutile Price (US$1,346/t). All assumptions taken
from the Company's 2021 Scoping Study released 16 December 2021
To view the announcement in full including all illustrations and
figures, please refer to the full announcement at
http://sovereignmetals.com.au/announcements/.
KASIYA - THE LARGEST RUTILE DEPOSIT IN THE WORLD
Sovereign Metals Limited (ASX:SVM; AIM:SVML) (the Company or
Sovereign) is pleased to announce its updated Mineral Resource
Estimate (MRE) for Kasiya confirming it as a Tier 1 natural rutile
deposit and a potential major source of low CO(2) footprint
critical minerals natural rutile and graphite.
The updated MRE now places Kasiya as the largest rutile deposit
in the world with more than double the contained rutile as its
nearest rutile peer, Sierra Rutile (Tables 1, 2 & 3).
Additionally, the graphite by-product MRE at Kasiya places it as
the second largest flake graphite deposit in the world.
The MRE has broad zones of very high-grade rutile which occurs
contiguously across a very large area of over 180km(2) . Rutile
mineralisation lies in laterally extensive, near surface, flat
"blanket" style bodies in areas where the weathering profile is
preserved and not significantly eroded.
Overall, the new MRE shows a number of new large, but generally
discrete high grade rutile zones, particularly in the southern
parts and eastern parts of the resource area. The discovery and
delineation of these new high grade mineralised zones has been the
dominant factor in the tripling of the resource base.
A Total of 662 Mt (37%) of the total MRE reports to the
Indicated category @ 1.05% rutile and 1.43% TGC, with a recovered
grade of 1.73% RutEq.
The deposit is expansive with high-grade rutile mineralisation
commonly grading 1.2% to 2.0% in the top 3-5m from surface.
Moderate grade mineralisation generally grading 0.5% to 1.2% rutile
commonly extends from 5m to end of hole where it remains open at
depths >10m in numerous drill-defined, N to NE-striking
zones.
Graphite is generally depleted near surface in the top 3-5m with
grades commonly in the 0.1% to 0.5% total graphitic carbon (TGC)
range. Graphite grades generally increase with depth to about 8m,
then remain constant ranging from 1% to 8% TGC. A number of
higher-grade graphite zones at depth have been identified which are
generally associated with higher grade rutile at surface. Some of
these zones have graphite grades at depth >8m in the 4% to 8%
TGC range and represent very significant coarse flake graphite
tonnages.
The highlighted cut-off of 0.70% presents 1.8 billion tonnes at
a rutile grade of 1.01% with high-grade components providing over
352 Mt at a rutile grade of 1.44% at a 1.20% cut-off (Table 2). The
overall recovered rutile equivalent grade for the MRE at the global
0.7% cut-off is 1.64% RutEq. (Table 1).
Table 2: Kasiya Total Indicated + Inferred Mineral Resource
Estimate at various rutile cut-offs
Cut-off (rutile) Resource Rutile Grade Contained Graphite Contained
(Mt) (%) Rutile Grade (%) Graphite
(Mt) (Mt)
----------------- --------- ------------- ---------- ----------- ----------
0.40% 2,825 0.84% 23.8 1.26% 35.5
================= ========= ============= ========== =========== ==========
0.50% 2,503 0.89% 22.4 1.30% 32.5
================= ========= ============= ========== =========== ==========
0.60% 2,155 0.95% 20.4 1.33% 28.6
================= ========= ============= ========== =========== ==========
0.70% 1,775 1.01% 18.0 1.32% 23.4
================= ========= ============= ========== =========== ==========
0.80% 1,391 1.09% 15.1 1.24% 17.3
================= ========= ============= ========== =========== ==========
0.90% 1,024 1.17% 12.0 1.09% 11.2
================= ========= ============= ========== =========== ==========
1.00% 727 1.26% 9.2 0.92% 6.7
================= ========= ============= ========== =========== ==========
1.10% 516 1.35% 7.0 0.76% 3.9
================= ========= ============= ========== =========== ==========
1.20% 352 1.44% 5.1 0.55% 1.9
================= ========= ============= ========== =========== ==========
1.30% 241 1.53% 3.7 0.46% 1.1
================= ========= ============= ========== =========== ==========
1.40% 165 1.62% 2.7 0.43% 0.7
================= ========= ============= ========== =========== ==========
GLOBAL SIGNIFICANCE - RUTILE
Natural rutile is a genuinely scarce commodity, with no other
known large rutile dominant deposits being discovered in over half
a century. Kasiya is now shown to be the largest single rutile
deposit in the world (Table 3), with central Malawi now hosting the
largest known rutile province in the world.
Current sources of natural rutile are in decline as several
operations' reserves are depleting concurrently with declining ore
grades. These include Iluka Resources' (Iluka) Sierra Rutile and
Base Resources' Kwale operations in Sierra Leone and Kenya
respectively. Additionally, there are limited new deposits forecast
to come online, meaning supplies of natural rutile are likely to
remain in extreme structural deficit.
Table 3: Summary of major rutile dominant resources (1)
In-situ Grade
================== =============== ========= =================
Resource Rutile Ilmenite Zircon TGC Contained Rutile
Company Project (Mt) (%) (%) (%) (%) (Mt)
================== =============== ========= ======= ========= ======= ====== =================
Sovereign Metals Kasiya 1,775 1.01% - - 1.32% 18.0
================== =============== ========= ======= ========= ======= ====== =================
Iluka Resources Sierra Rutile 752 1.10% 0.90% 0.10% - 8.1
================== =============== ========= ======= ========= ======= ====== =================
Iluka Resources Balranald(2) 53 3.68% 19.34% 3.38% - 2.0
================== =============== ========= ======= ========= ======= ====== =================
Base Resources Kwale 194 0.37% 1.31% 0.17% - 0.7
================== =============== ========= ======= ========= ======= ====== =================
Sources: Refer to Appendix 1
Notes:
1. Projects selected with rutile contributing over 30% of the in-situ value
2. The Balranald Project is being investigated for underground mining by Iluka
As demonstrated in the December 2021 initial Scoping Study, the
Kasiya operation will primarily employ conventional hydro-mining to
produce a slurry that is pumped to a Wet Concentration Plant (WCP)
where the material is sized. A Heavy Mineral Concentrate (HMC) is
produced via processing the sand fraction through a series of
gravity spirals. The HMC is transferred to the dry Mineral
Separation Plant (MSP) where premium quality rutile is produced via
electrostatic and magnetic separation. Test work has been very
successful and has resulted in conventional flowsheets proving
highly efficient for producing premium quality rutile and graphite
products.
World-class rutile product chemical specifications are reported
at 95.0% to 97.2% TiO(2) with low impurities and stand-out
metallurgical recoveries ranging from 94% to 100%. For the Scoping
Study and rutile equivalent (RutEq.) grade calculation, a product
grade of 96% TiO(2) and recovery of 97% are assumed for rutile.
GRAPHITE - A VALUABLE BY-PRODUCT
The 23.4 Mt of contained graphite in the Kasiya MRE now places
it as the second largest flake graphite deposit in the world (Table
4).
Table 4: Summary of major flake graphite resources
Company(1) Project Resource TGC Grade Contained Graphite
(Mt) (%) (Mt)
---------------------- --------------- --------- ---------- -------------------
Syrah Resources Balama 1,421 10.3% 146.3
====================== =============== ========= ========== ===================
Sovereign Metals Kasiya 1,775 1.3% 23.4
====================== =============== ========= ========== ===================
Volt Resources Bunyu 461 4.9% 22.6
====================== =============== ========= ========== ===================
Black Rock Mining Mahenge 213 7.8% 16.6
====================== =============== ========= ========== ===================
Mason Graphite Lac Gueret 83 17.6% 14.7
====================== =============== ========= ========== ===================
Magnis Energy Nachu 174 5.4% 9.3
====================== =============== ========= ========== ===================
NextSource Materials Molo 141 6.1% 8.7
====================== =============== ========= ========== ===================
Graphite One Graphite One 103 8.0% 8.2
====================== =============== ========= ========== ===================
Focus Graphite Lac Tetepisca 74 10.6% 7.9
====================== =============== ========= ========== ===================
Sources: Refer to Appendix 1
Graphite rich mineral pre-concentrate will be produced from the
light fraction of the gravity spiral tails and processed in a
separate graphite flotation plant to produce a high-quality flake
graphite by-product. Because graphite will be a by-product from
rutile production, it will have a very low production cost compared
to graphite-only projects, as shown in the initial Kasiya Scoping
Study.
A very coarse-flake and high-grade graphite product at 96% TGC
can be produced via this simple flowsheet. This product has over
60% in the large to super-jumbo fractions (+180<MU>m) with
overall graphite recovery from the raw sample to product of
62%.
As well as being very coarse flake, the Kasiya graphite is also
highly crystalline and of high purity. These are both important
features required for use in lithium-ion battery anodes. The high
crystallinity means that the graphite will have high electrical
conductivity - a key requirement. High purity means the material
will be easier to upgrade to 99.95% TGC, the minimum requirement
for lithium-ion battery anodes.
NEXT STEPS
The updated MRE confirms Kasiya as a Tier 1 mineral project,
being the largest deposit of natural rutile in the world and the
second largest flake graphite deposit in the world. The strong
economics of the project were confirmed in the initial Scoping
Study based on the previous resource estimate which was released in
December 2021.
Sovereign is rapidly continuing its work programs with the
following near and medium-term targets and developments:
-- An updated Scoping Study is targeted for completion Q2 2022
to build on the 2021 Scoping Study. This will be driven by the
significant increase in the MRE, providing the opportunity to
assess higher grade throughput, increased production rates and
longer mine life.
-- Initial Pre-feasibility Study (PFS) activities are commencing
and include metallurgical programs and hydrogeological studies.
Other study elements will commence shortly with major technical
consultant site visits commencing in April. The PFS is targeted for
completion in early 2023.
-- Drilling programs are planned to continue, testing depth and
lateral extensions at Kasiya. These include:
- An air-core drilling rig is set to be mobilise to Kasiya in
mid-May, with a planned 300 hole/10,000m program with the aim of
deepening the better high-grade areas in order to add to the next
MRE upgrade
- Continued infill and step-out hand-auger drilling expand the
overall mineralised footprint with drill teams to mobilise in
April
-- The Company continues to work with potential offtakers and
strategic partners in the pigment, welding and titanium metal
industries to secure further agreements regarding future
offtakes.
-- Continued strong focus on ESG and sustainability - initial
ESIA activities to commence shortly including environmental and
community baseline surveys, which will inform the upcoming PFS,
with continued focus on developing low carbon-footprint operations
taking advantage of renewable power supply and soft-friable
saprolite mineralisation to produce natural rutile and graphite
with far lower Global Warming Potential than alternative
products.
KASIYA MRE TECHNICAL DETAILS
The Kasiya MRE has been prepared by independent consultants,
Placer Consulting Pty Ltd (Placer) and is reported in accordance
with the JORC Code (2012 Edition).
Rutile mineralisation lies in laterally extensive, near surface,
flat "blanket" style bodies in areas where the weathering profile
is preserved and not significantly eroded. The high-grade zones
appear to be geologically continuous with limited variability along
and across strike.
SUMMARY OF RESOURCE ESTIMATE REPORTING CRITERA
As per ASX Listing Rule 5.8 and the 2012 JORC reporting
guidelines, a summary of the material information used to estimate
the MRE is detailed below.
Geology
Regional Geology
The greater part of Malawi is underlain by crystalline
Precambrian to lower Paleozoic rocks referred to as the Malawi
Basement Complex. In some parts these rocks have been overlain
unconformably by sedimentary and volcanic rocks ranging in age from
Permo-triassic to Quaternary. The Basement complex has undergone a
prolonged structural and metamorphic history dominated by uplift
and faulting resulting in the formation of the Malawi Rift
Valley.
Kasiya is located on the Lilongwe Plain which is underlain by
the Basement Complex paragneisses and orthogneisses which are part
of the Mozambique Belt. The bulk of the gneisses are semi-pelitic
but there are bands of psammitic and calcareous rocks that have
been metamorphosed under high pressure and temperature conditions
to granulite facies. Interspersed within the paragneiss units are
lesser orthogneisses, often cropping-out as conspicuous tors, as
well as amphibolites, pegmatites and minor mafic to ultramafic
intrusions. Foliation and banding in the gneisses have a broad
north-south strike over the general area. Thick residual soils and
pedolith with some alluvium overlie the gneisses and include sandy,
lateritic and dambo types.
Project Geology
Sovereign's tenure covers 1,892km(2) over an area to the north,
west and south of Malawi's capital city covering the Lilongwe
Plain. The topography is generally flat to gently undulating and
the underlying geology is dominated by paragneiss with pelitic,
psammitic and calcareous units.
A particular paragneiss unit is rich in rutile and graphite and
is the primary source of both of these minerals in the area. This
area was deeply weathered during the Tertiary and rutile
concentrated in the upper part of the weathering profile forming
residual placers, such as the Kasiya Deposit. Once this material is
incised and eroded, it is transported and deposited into wide,
regional braided river systems forming alluvial heavy mineral
placers such as the Bua Channel.
Kasiya Deposit Geology
The high-grade rutile deposit at Kasiya is best described as a
residual placer, or otherwise known as eluvial heavy mineral
deposit. It is formed by weathering of the primary host rock and
concentration in place of heavy minerals, as opposed to the
high-energy transport and concentration of heavy minerals in a
traditional placer.
The presence of abundant kyanite and graphite in the host
material suggest a meta-sedimentary protolith. The protolith likely
started with a 0.5-1.5Ga basin that also experienced consistent
influx of titanium minerals.
These sedimentary rocks were subject to granulite facies
metamorphism under reduced conditions in the Pan-African Orogeny at
circa 0.5-0.6Ga. The reduced environment, relatively high titanium
content and low iron content, resulted in rutile being the most
stable titanium mineral under these conditions. Slow exhumation and
cooling then resulted in crystallisation of paragneisses containing
coarse rutile and graphite.
The final and most important stage of enrichment came as
tropical weathering during the Tertiary depleted the top 10m of
physically and chemically mobile minerals. This caused significant
volume loss and concurrent concentration of heavy resistate
minerals including rutile and kyanite.
Rutile mineralisation lies in laterally extensive, near surface,
flat "blanket" style bodies in areas where the weathering profile
is preserved. The Kasiya deposit continues to confirm widespread,
high-grade mineralisation commonly grading 1.2% to 2.0% rutile in
the top 3-5m from surface. Moderate grade mineralisation generally
grading 0.5% to 1.2% rutile commonly extends from 5m to end of hole
where it remains open at depths >10m in numerous drill-defined,
NE and N striking zones.
Graphite generally occurs in broad association with rutile.
However, it is depleted in the top 3-5m and therefore can often
show an inverse grade relationship with rutile in the near-surface
zones. At depths generally greater than 5m, graphite is not
depleted, and rutile is not particularly enriched, so a more
consistent grade relationship exists.
Metallurgical results show that a very coarse-flake graphite
by-product can be recovered from rutile gravity-separation
tails.
Drilling Techniques
Spiral hand-auger (HA) drilling and Push-tube core (PT) drilling
has been used extensively at the Kasiya Deposit by Sovereign to
define mineralisation and to obtain quantitative rutile and
graphite (TGC) assay information.
A total of 1,205 HA holes for 11,360m were drilled at the Kasiya
Rutile Deposit to obtain samples for quantitative determination of
recoverable rutile and TGC.
An initial 30 PT core holes, for 359.4m, were drilled at the
Kasiya Rutile Deposit to obtain samples for validation of hand
auger drilling results and for bulk density test work.
The subsequent infill drilling programme, designed to support
the resource estimate update, was completed by push tube coring. A
total of 234 core holes for 2,368.5m are included in the updated
MRE.
The drilling programs to date show a mineralised envelope,
defined nominally by >0.5% rutile, of approximately 187km(2)
with numerous areas of high-grade rutile defined.
HA drilling was executed by Sovereign field teams using a
manually operated enclosed-flight Spiral Auger (SP / SOS) system
produced by Dormer Engineering in Queensland, Australia. The HA
bits are 62mm and 75mm in diameter with 1m long steel rods. Each 1m
of drill advance is withdrawn and the contents of the auger flight
removed into bags and set aside. An additional 1m steel rod is
attached and the open hole is re-entered to drill the next metre.
This is repeated until the drill hole is terminated often due to
the water table being reached, and more rarely due to bit refusal
(2% of the resource HA drill database). The auger bits and flights
are cleaned between each metre of sampling to avoid
contamination.
PT drilling is undertaken using a drop hammer Dando Terrier MK1
and a drop hammer DL650. The drilling generated 1m runs of 83mm PQ
core in the first 2m and then transitioned to 72mm core for the
remainder of the hole. Core drilling is oriented vertically by
spirit level.
The HA collars are spaced at nominally 400m along the 400m
spaced drill-lines with the push-tube holes similarly spaced at an
offset, infill grid. The resultant 200m by 200m drill spacing (to
the strike orientation of the deposit) is deemed to adequately
define the mineralisation in the MRE.
There is no apparent bias arising from the orientation of the
drill holes, with respect to the orientation of the deposit.
The PT twin and density sample holes are selectively placed
throughout the deposit to ensure a broad geographical and
lithological coverage for the analysis.
Placer has reviewed SOPs for HA and PT drilling and found them
to be fit for purpose and support the resource classifications as
applied to the MRE.
Sampling Techniques
HA samples are obtained at 1m intervals generating on average
approximately 2.5kg of drill sample. HA samples are manually
removed from the auger bit and sample recovery is visually assessed
in the field. As samples become wet at the water table and recovery
per metre declines, the drill hole is terminated.
HA samples are collected in 1m increments. Each 1m sample is sun
dried, logged, weighed and pXRF analysed. HA samples are composited
based on regolith boundaries and sample chemistry, generated by
hand-held XRF analysis. Each 1m of sample is dried and riffle-split
to generate a total sample weight of 3kg for analysis, generally at
2 - 5m intervals (average 2.8m for the total resource drill
database). This primary sample is then split again to provide a
1.5kg sample for both rutile and graphite analyses.
PT samples are predominantly HQ. Half core 1m samples are sun
dried, logged, weighed and pXRF analysed. Samples are then
composited over 2m intervals. An equal mass is taken from each
contributing metre to generate a 1.5kg composite sample. Individual
recoveries of core samples are recorded on a quantitative basis.
Core recovery is >95%.
This sampling and compositing method is considered appropriate
and reliable based on accepted industry practice.
Sample analysis methodology
Rutile
Heavy mineral concentrates (HMC) are generated onsite via
wet-tabling. Heavy Liquid Separation (HLS) was trialled at
Diamantina Laboratories in Perth but was superseded by wet table
separation on account of substantial near-density, gangue material
reporting to the HM sink.
The Malawi onsite laboratory sample preparation methods are
considered quantitative to the point where a wet-tabled HMC is
generated.
The HMC is then subject to magnetic separation at Allied Mineral
Laboratories Perth (AML) in Perth by Carpco magnet @ 16,800G
(2.9Amps) into a magnetic (M) and non-magnetic (NM) fraction.
The NM fractions are sent to either ALS Perth or Intertek Perth
for quantitative XRF analysis. Intertek samples received the
standard mineral sands suite FB1/XRF72. ALS Samples received
XRF_MS.
QEMSCAN of the NM fraction shows dominantly clean and liberated
rutile grains and confirms rutile is the only titanium species in
the NM fraction. Recovered rutile is therefore defined and reported
here as: TiO2 recovered in the +45 to -600um range to the NM
concentrate fraction as a % of the total primary, dry, raw sample
mass divided by 95% (to represent an approximation of final product
specifications). i.e recoverable rutile within the whole
sample.
Graphite
A split of each raw sample is dissolved in dilute hydrochloric
acid to liberate carbonate carbon. The solution is filtered using a
filter paper and the collected residue is then dried to 425degC in
a muffle oven to drive off organic carbon. The dried sample is then
combusted in an Eltra CS-800 induction furnace infra-red CS
analyser to yield total graphitic or elemental carbon (TGC).
QAQC
Accuracy monitoring is achieved through submission of certified
reference materials (CRM's). Sovereign uses internal and externally
sourced wet screening reference material inserted into samples
batches at a rate of 1 in 20. The externally sourced, certified
standard reference material for HM and Slimes assessment is
provided by Placer Consulting.
ALS and Intertek both use internal CRMs and duplicates on XRF
and TGC analyses. Sovereign also inserts CRMs into all sample
batches at a rate of 1 in 20.
An external laboratory raw sample check duplicate is sent to
laboratories in Perth, Australia as an external check of the full
workflow. These duplicates are produced at a rate of 1 in 20.
Analysis of sample duplicates is undertaken by standard
geostatistical methodologies (Scatter, Pair Difference and QQ
Plots) to test for bias and to ensure that sample splitting is
representative. Standards determine assay accuracy performance,
monitored on control charts, where failure (beyond 3SD from the
mean) may trigger re-assay of the affected batch.
Precision and accuracy assessment has been completed on all
alternate workflow methodologies and a consistent method has been
decided, in consultation with Placer Resource Geologists.
Examination of the QA/QC sample data indicates satisfactory
performance of field sampling protocols and assay laboratories
providing acceptable levels of precision and accuracy. Rutile
determination by alternate methods showed no observable bias.
Acceptable levels of accuracy and precision are displayed in
geostatistical analyses to support the resource classifications as
applied to the estimate.
Classification
The HA collars are spaced at nominally 400m along the 400m
spaced drill-lines with the PT holes similarly spaced at an offset,
infill grid. The resultant 200m by 200m drill spacing (to the
strike orientation of the deposit) is deemed to adequately define
the mineralisation in the MRE.
The PT twin and density sample holes are selectively placed
throughout the deposit to ensure a broad geographical and
lithological spread for the analysis.
Variography and kriging neighbourhood analysis completed using
Supervisor software informs the optimal drill and sample spacing
for the MRE. Based on these results and the experience of the
Competent Person, the data spacing and distribution is considered
adequate for the definition of mineralisation and adequate for the
MRE.
For the latest MRE, a regional trend analysis was performed for
all drilling across Kasiya, designed to supplement and extend
previous variography analysis completed using Datamine Supervisor
software. The trend analysis involved the following key steps:
1. Generating intercepts files (no bottom cut applied) as follows:
a) SOIL+FERP (upper domain)
b) MOTT+PSAP+SAPL (lower domain)
2. Gridding RUT95 intercept XY collar points for both zones
using Micromine with multiple interpolation methods.
3. Variogram Mapping (using Micromine) to investigate
interpreted trend orientations against semi-variance.
Drilling methods applied to define the Kasiya Deposit (HA and
PT) are not able to retrieve reliable samples below the water
table. Mineralisation remains open and a substantial resource is
anticipated beneath current drill depths.
High grade sample results are constrained tightly by the search
and estimation parameters applied to the interpolation. High grades
are expected to be contiguous upon application of closer-spaced
drilling.
Regolith stratigraphy is uniform and rutile and graphite
mineralisation is broadly consistent across the Kasiya Deposit.
Open-hole drilling and infill core drilling techniques have been
expertly applied and data collection procedures, density
assessments, QA protocols and interpretations conform to industry
best practice.
Assay, mineralogical determinations and metallurgical test work
conform to industry best practice and demonstrate a rigorous
assessment of product and procedure. These and the development of a
conventional processing flowsheet and marketability studies support
the classification of the Kasiya Resource.
Estimation Methodology
Datamine Studio RM, Micromine and Supervisor software are used
for the data analysis, variography, geological interpretation and
resource estimation with key fields being interpolated into the
volume model using the Inverse Distance weighting (power 2) method.
Dynamic Anisotropy search ellipses, informed by variography,
kriging neighbourhood analysis and gridding of rutile abundance,
were used to search for data during the interpolation. Suitable
limitations on the number of samples and the impact of those
samples, was maintained.
Interpolation was constrained by hard boundaries (domains) that
result from the geological interpretation. The construction of an
upper (Soil/Ferp) domain reduces the dilution of resource grade
from the underlying, less mineralised (Mott/Sap) domain. A Topsoil
horizon has been defined at 0.3m thickness throughout the Indicated
Resource area to support anticipated ore reserve calculation and
mining studies. Topsoil is disclosed separately but remains in the
MRE in recognition of advanced investigations by SVM on synthetic
topsoil generation for rehabilitation.
The average parent cell size used is equivalent to the average
drill hole spacing within the Indicated Resource (200m*200m). Cell
size in the Z-axis was established to cater for the composite
sample spacing and definition of the Topsoil domain. This resulted
in a parent cell size of 200m x 200m x 3m for the volume model with
5 sub-cell splits available in the X and Y axes and 10 in the Z
axis to smooth topographical and lithological transitions.
Both parent and sub-cell interpolations were completed and
reconciled spatially against each other. The parent cell and sub
cell interpolations produced near identical global tonnages and
grades. The sub-cell interpolation was seen to provide a better
graduation of informing drill hole data through intermediate model
cells and to conform more sympathetically to the geological
interpretation. In this instance, the sub-cell interpolation was
applied to the MRE.
The resource model has been volumetrically constrained generally
as a buffer of one parent cell dimension. That is: A 200m buffered
model boundary around drilling in the XY plan. Vertically the model
is constrained by both the topography DTM and a 'basement'
wireframe that seeks to buffer 'effective depth' drilling depths by
2.7m (a little less than the average sample interval for the drill
database). This 'basement' surface does not represent the base of
mineralisation, which is anticipated to be deeper within the
weathered profile, at the saprolite/saprock horizon.
Extreme grade values were not identified by statistical
analysis, nor were they anticipated in this style of deposit. No
top cut is applied to the resource estimation.
Validation of grade interpolations was done visually in Datamine
by loading model and drill hole files and annotating, colouring and
using filtering to check for the appropriateness of
interpolations.
Statistical distributions were prepared for model zones from
both drill holes and the model to compare the effectiveness of the
interpolation. Model-drilling reconciliation was performed by
generating swath plots to measure drilling support against
interpolation performance in all three primary orientations. The
resource model has effectively averaged informing drill hole data
and is considered suitable to support the resource classifications
as applied to the estimate.
Density is calculated by the measurements of wet and dry weights
using core from geographically and lithologically diverse sample
sites throughout the project. This methodology delivers an accurate
density result that is interpolated in the MRE for each host
material type.
Density data are interpolated into the resource estimate by
geological domain. An average density of 1.39 t/m(3) for the soil
(SOIL) domain, 1.60 t/m(3) for the ferruginous pedolith (FERP)
domain, 1.65 t/m(3) for the mottled (MOTT) domain, 1.68 t/m(3) for
the pallid saprolite (PSAP) domain, 1.63 t/m(3) for the saprolite
(SAPL) domain, and 1.93 t/m(3) for the laterite (LAT) domain were
calculated. Density data are interpolated into the resource
estimate by the nearest neighbour method.
Cut-off Grades
All results reported are of a length-weighted average of in-situ
grades. The resource is reported at a range of bottom cut-off
grades in recognition that optimisation and financial assessment is
outstanding.
A nominal bottom cut of 0.7% rutile is offered, based on
preliminary assessment of resource product value and anticipated
cost of operations. No graphite top or bottom cuts are applied.
Mining and Metallurgy Factors
Hydro-mining has been determined as the optimal method of mining
for the Kasiya Rutile deposit. The material is loose, soft, fine
and friable with no cemented sand or dense clay layers rendering it
amenable to hydro-mining. It is considered that the strip ratio
would be zero or near zero.
Dilution is considered to be minimal as mineralisation commonly
occurs from surface and mineralisation is generally gradational
with few sharp boundaries.
Recovery parameters have not been factored into the estimate.
However, the valuable minerals are readily separable due to their
SG differential and are expected to have a high recovery through
the proposed conventional wet concentration plant, as demonstrated
by metallurgical test work.
Sovereign have announced three sets of metallurgical results to
the market (24 June 2019, 9 September 2020 and 7 December 2021),
relating to the Company's ability to produce a high-grade rutile
product with a high recovery via simple conventional processing
methods. Sovereign engaged AML to conduct the metallurgical test
work and develop a flowsheet for plant design considerations. The
work has shown a premium quality rutile product ranging from 95.0%
to 97.2% TiO(2) with low impurities could be produced with
recoveries of about 94% to 100% and with favourable product sizing
at d50 of 118um (97.2% product).
Gravity separation was effective at concentrating graphite to a
"light mineral pre-concentrate" due to its low specific gravity
(2.2 t/m(3)) at circa 6.3% TGC.
A program at SGS Lakefield in Canada was undertaken in order to
confirm that the graphite gravity pre-concentrate can be upgraded
into a coarse flake graphite by-product via a conventional graphite
flotation flowsheet.
The test-work was extremely successful, and a very coarse-flake
graphite concentrate at 96.3% TGC was produced. Greater than 60% of
the graphite concentrate is in the large to super-jumbo fractions,
suggesting a high combined basket value. The overall graphite
recovery from the raw sample to product was 62%.
MRE TABLES
Table 5: Indicated MRE at various rutile cut-offs
Cut-off (rutile) Resource Rutile Grade Contained Rutile Graphite Grade (%) Contained Graphite
(Mt) (%) (Mt) (Mt)
----------------- --------- ------------- ----------------- ------------------- -------------------
0.40% 924 0.91 8.4 1.39 12.9
================= ========= ============= ================= =================== ===================
0.50% 854 0.95 8.1 1.42 12.1
================= ========= ============= ================= =================== ===================
0.60% 768 0.99 7.6 1.44 11.1
================= ========= ============= ================= =================== ===================
0.70% 662 1.05 6.9 1.43 9.5
================= ========= ============= ================= =================== ===================
0.80% 534 1.12 6.0 1.36 7.2
================= ========= ============= ================= =================== ===================
0.90% 416 1.20 5.0 1.24 5.1
================= ========= ============= ================= =================== ===================
1.00% 314 1.28 4.0 1.06 3.3
================= ========= ============= ================= =================== ===================
1.10% 228 1.36 3.1 0.85 1.9
================= ========= ============= ================= =================== ===================
1.20% 158 1.46 2.3 0.63 1.0
================= ========= ============= ================= =================== ===================
1.30% 113 1.54 1.7 0.52 0.6
================= ========= ============= ================= =================== ===================
1.40% 82 1.62 1.3 0.47 0.4
================= ========= ============= ================= =================== ===================
Table 6: Inferred MRE at various rutile cut-offs
Cut-off (rutile) Resource Rutile Grade Contained Rutile Graphite Grade (%) Contained Graphite
(Mt) (%) (Mt) (Mt)
----------------- --------- ------------- ----------------- ------------------- -------------------
0.40% 1,901 0.81 15.4 1.19 22.6
================= ========= ============= ================= =================== ===================
0.50% 1,649 0.86 14.2 1.23 20.4
================= ========= ============= ================= =================== ===================
0.60% 1,388 0.92 12.8 1.26 17.5
================= ========= ============= ================= =================== ===================
0.70% 1,113 0.99 11.0 1.26 14.0
================= ========= ============= ================= =================== ===================
0.80% 856 1.06 9.1 1.18 10.1
================= ========= ============= ================= =================== ===================
0.90% 608 1.15 7.0 0.99 6.0
================= ========= ============= ================= =================== ===================
1.00% 413 1.25 5.1 0.81 3.4
================= ========= ============= ================= =================== ===================
1.10% 288 1.34 3.8 0.69 2.0
================= ========= ============= ================= =================== ===================
1.20% 194 1.43 2.8 0.49 1.0
================= ========= ============= ================= =================== ===================
1.30% 128 1.52 2.0 0.41 0.5
================= ========= ============= ================= =================== ===================
1.40% 83 1.61 1.3 0.38 0.3
================= ========= ============= ================= =================== ===================
Table 7: Inferred & Indicated MRE at various rutile cut-offs
Cut-off (rutile) Resource Rutile Grade Contained Rutile Graphite Grade (%) Contained Graphite
(Mt) (%) (Mt) (Mt)
----------------- --------- ------------- ----------------- ------------------- -------------------
0.40% 2,825 0.84% 23.8 1.26% 35.5
================= ========= ============= ================= =================== ===================
0.50% 2,503 0.89% 22.4 1.30% 32.5
================= ========= ============= ================= =================== ===================
0.60% 2,155 0.95% 20.4 1.33% 28.6
================= ========= ============= ================= =================== ===================
0.70% 1,775 1.01% 18.0 1.32% 23.4
================= ========= ============= ================= =================== ===================
0.80% 1,391 1.09% 15.1 1.24% 17.3
================= ========= ============= ================= =================== ===================
0.90% 1,024 1.17% 12.0 1.09% 11.2
================= ========= ============= ================= =================== ===================
1.00% 727 1.26% 9.2 0.92% 6.7
================= ========= ============= ================= =================== ===================
1.10% 516 1.35% 7.0 0.76% 3.9
================= ========= ============= ================= =================== ===================
1.20% 352 1.44% 5.1 0.55% 1.9
================= ========= ============= ================= =================== ===================
1.30% 241 1.53% 3.7 0.46% 1.1
================= ========= ============= ================= =================== ===================
1.40% 165 1.62% 2.7 0.43% 0.7
================= ========= ============= ================= =================== ===================
Forward Looking Statement
This release may include forward-looking statements, which may
be identified by words such as "expects", "anticipates",
"believes", "projects", "plans", and similar expressions. These
forward-looking statements are based on Sovereign's expectations
and beliefs concerning future events. Forward looking statements
are necessarily subject to risks, uncertainties and other factors,
many of which are outside the control of Sovereign, which could
cause actual results to differ materially from such statements.
There can be no assurance that forward-looking statements will
prove to be correct. Sovereign makes no undertaking to subsequently
update or revise the forward-looking statements made in this
release, to reflect the circumstances or events after the date of
that release.
Competent Persons Statement
The information in this announcement that relates to Mineral
Resources is based on, and fairly represents, information compiled
by Mr Richard Stockwell, a Competent Person, who is a fellow of the
Australian Institute of Geoscientists (AIG). Mr Stockwell is a
principal of Placer Consulting Pty Ltd, an independent consulting
company. Mr Stockwell has sufficient experience, which is relevant
to the style of mineralisation and type of deposit under
consideration, and to the activity he is undertaking, to qualify as
a Competent Person as defined in the 2012 Edition of the
'Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves'. Mr Stockwell consents to the inclusion
of the matters based on his information in the form and context in
which it appears.
The information in this announcement that relates to Exploration
Results is based on information, and fairly represents, compiled by
Mr Samuel Moyle, a Competent Person who is a member of The
Australasian Institute of Mining and Metallurgy (AusIMM). Mr Moyle
is the Exploration Manager of Sovereign Metals Limited and a holder
of ordinary shares, unlisted options and performance rights in
Sovereign. Mr Moyle has sufficient experience that is relevant to
the style of mineralisation and type of deposit under consideration
and to the activity being undertaken, to qualify as a Competent
Person as defined in the 2012 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves'. Mr Moyle consents to the inclusion in the report of the
matters based on his information in the form and context in which
it appears.
The information in this announcement that relates to
Metallurgical test-work Results - Rutile & Graphite is
extracted from the announcement dated 24 June 2019, 9 September
2020 and 7 December 2021. The announcement is available to view on
www.sovereignmetals.com.au. Sovereign confirms that a) it is not
aware of any new information or data that materially affects the
information included in the announcement; b) all material
assumptions included in the announcement continue to apply and have
not materially changed; and c) the form and context in which the
relevant Competent Persons' findings are presented in this report
have not been materially changed from the announcement.
Qualified Person
Information disclosed in this announcement has been reviewed by
Dr Julian Stephens (B.Sc (Hons), PhD, MAIG), Managing Director, a
Qualified Person for the purposes of the AIM Rules for
Companies.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ('MAR'). Upon the publication of this announcement via
Regulatory Information Service ('RIS'), this inside information is
now considered to be in the public domain.
APPIX 1 - PEER SOURCE INFORMATION
Figure 1 & Table 3
Company Project Source
================ ============== ====================================================================================
Iluka Resources Sierra Rutile Iluka Resources Limited's 2021 Annual Report (released on ASX 24/02/2022)
================ ============== ====================================================================================
Iluka Resources Balranald Iluka Resources Limited Annual Ore Reserve and Resources as at 31 December 2021:
https://iluka.com/CMSPages/GetFile.aspx?guid=213396d8-1630-49ff-8d1b-fe4b1ee71e7e
================ ============== ====================================================================================
Base Resources Kwale Updated Kwale North Dune and maiden Bumamani Mineral Resource Estimate (released on
ASX 19/02/2021)
================ ============== ====================================================================================
Figure 2 & Table 4
Company Project Source
----------- ---------- -------------------------------------------------------------------------------------------------------------------------------------------------------
Syrah Balama Syrah Resources Limited's 2021 Annual Report (released on ASX 24/02/2022)
Resources
=========== ========== =======================================================================================================================================================
Volt Bunyu Volt Resources Limited's 2021 Annual Report (released on ASX 29/09/2021)
Resources
=========== ========== =======================================================================================================================================================
Black Rock Mahenge ASX Announcement: Black Rock Mining confirms 25% increase in Measured Mineral Resource, now
Mining the largest in class globally (released 3/02/2022)
=========== ========== =======================================================================================================================================================
Mason Lac Mason Graphite's Corporate Presentation released July 2021
Graphite Gueret
=========== ========== =======================================================================================================================================================
Magnis Nachu Magnis' Corporate Presentation released February 2022
Energy
=========== ========== =======================================================================================================================================================
NextSource Molo https://www.nextsourcematerials.com/graphite/molo-graphite-project/
Materials
=========== ========== =======================================================================================================================================================
Graphite Graphite https://www.graphiteoneinc.com/graphite-one-increases-tonnage-grade-and-contained-graphite-of-measured-and-indicated-and-inferred-resources-in-updated
One One -mineral-resource-estimate/
=========== ========== =======================================================================================================================================================
Focus Lac https://focusgraphite.com/focus-graphite-reports-major-maiden-mineral-resource-estimate-at-lac-tetepisca-quebec/
Graphite Tetepisca
=========== ========== =======================================================================================================================================================
APPIX 2 - JORC CODE, 2012 EDITION - TABLE 1
SECTION 1 - SAMPLING TECHNIQUES AND DATA
Criteria JORC Code explanation Commentary
Sampling Nature and quality of HA samples are composited based on
Techniques sampling (e.g. cut channels, regolith boundaries and sample chemistry
random chips, or specific generated by hand-held XRF. Each 1m
specialised industry of sample is dried and riffle-split
standard measurement to generate a total sample weight of
tools appropriate to 3kg for analysis, generally at 2 -
the minerals under 5m intervals. This primary sample is
investigation, then split again to create a 3kg composite
such as down hole gamma to provide a 1.5kg sample for both
sondes, or handheld XRF rutile and graphite analyses.
instruments, etc). These
examples should not be Infill PT core drilling is sampled
taken as limiting the routinely at 2m intervals by compositing
broad meaning of sampling. dried and riffle-split half core. A
consistent, 1.5kg sample is generated
for both the rutile and graphite determination.
--------------------------------- -----------------------------------------------------------------
Include reference to Drilling and sampling activities are
measures taken to ensure supervised by a suitably qualified
sample representivity company geologist who is present at
and the appropriate calibration all times. All drill samples are geologically
of any measurement tools logged by the geologist at the drill
or systems used. site/core yard.
Each sample is sun dried and homogenised.
Sub-samples are carefully
riffle split to ensure representivity.
The 1.5kg composite samples are then
processed.
An equivalent mass is taken from each
sample to make up the composite. A
calibration schedule is in place for
laboratory scales, sieves and field
XRF equipment.
Placer Consulting Pty Ltd (Placer)
Resource Geologists have reviewed Standard
Operating Procedures (SOPs) for the
collection and processing of drill
samples and found them to be fit for
purpose and support the resource classifications
as applied to the Mineral Resource
Estimate (MRE). The primary composite
sample is considered representative
for this style of rutile mineralisation.
--------------------------------- -----------------------------------------------------------------
Aspects of the determination Logged mineralogy percentages, lithology/regolith
of mineralisation that information and TiO(2) % obtained from
are Material to the Public handheld XRF are used to determine
Report. In cases where compositing intervals. Care is taken
'industry standard' work to ensure that only samples with similar
has been done this would geological characteristics are composited
be relatively simple together
(e.g. 'reverse circulation
drilling was used to
obtain 1 m samples from
which 3 kg was pulverised
to produce a 30 g charge
for fire assay'). In
other cases more explanation
may be required, such
as where there is coarse
gold that has inherent
sampling problems. Unusual
commodities or mineralisation
types (e.g. submarine
nodules) may warrant
disclosure of detailed
information.
--------------------------------- -----------------------------------------------------------------
Drilling Drill type (e.g. core, A total of 1,205 HA holes for 11,360m
Techniques reverse circulation, were drilled at the Kasiya Rutile Deposit
open -- hole hammer, to obtain samples for quantitative
rotary air blast, auger, determination of recoverable rutile
Bangka, sonic, etc) and and Total Graphitic Carbon (TGC).
details (e.g. core diameter,
triple or standard tube, An initial 30 PT core holes, for 359.4m,
depth of diamond tails, were drilled at the Kasiya Rutile Deposit
face -- sampling bit to obtain samples for validation of
or other type, whether HA drilling results and for bulk density
core is oriented and test work.
if so, by what method,
etc). The subsequent infill drilling programme,
designed to support the resource estimate
update, was completed by PT coring.
A total of 234 core holes for 2,368.5m
were included in the updated MRE.
Placer has reviewed SOPs for HA and
PT drilling and found them to be fit
for purpose and support the resource
classifications as applied to the MRE.
Sample handling and preparation techniques
are consistent for PT and coring samples.
Two similar designs of HA drilling
equipment are employed. HA drilling
with 75mm diameter enclosed spiral
bits (SOS) with 1m long steel rods
and with 62mm diameter open spiral
bits (SP) with 1m long steel rods.
Drilling is oriented vertically by
eye.
Each 1m of drill sample is collected
into separate sample bags and set aside.
The auger bits and flights are cleaned
between each metre of sampling to avoid
contamination.
Core-drilling is undertaken using a
drop hammer, Dando Terrier MK1. The
drilling generated 1m runs of 83mm
PQ core in the first 2m and then transitioned
to 72mm core for the remainder of the
hole. Core drilling is oriented vertically
by spirit level.
--------------------------------- -----------------------------------------------------------------
Drill Method of recording and Samples are assessed visually for recoveries.
Sample assessing core and chip The configuration of drilling and nature
Recovery sample recoveries and of materials encountered results in
results assessed. negligible sample loss or contamination.
HA and PT drilling is ceased when recoveries
become poor once the water table has
been reached. Water table and recovery
information is included in lithological
logs.
Core drilling samples are actively
assessed by the driller and geologist
onsite for recoveries and contamination.
--------------------------------- -----------------------------------------------------------------
Measures taken to maximise The Company's trained geologists supervise
sample recovery and ensure drilling on a 1 team 1 geologist basis
representative nature and are responsible for monitoring
of the samples. all aspects of the drilling and sampling
process.
For PT drilling, core is extruded into
core trays; slough is actively removed
by the driller at the drilling rig
and core recovery and quality is recorded
by the geologist.
--------------------------------- -----------------------------------------------------------------
Whether a relationship No relationship is believed to exist
exists between sample between grade and sample recovery.
recovery and grade and The high percentage of silt and absence
whether sample bias may of hydraulic inflow from groundwater
have occurred due to at this deposit results in a sample
preferential loss/gain size that is well within the expected
of fine/coarse material. size range.
No bias related to preferential loss
or gain of different materials is observed.
--------------------------------- -----------------------------------------------------------------
Logging Whether core and chip Geologically, data is collected in
samples have been geologically detail, sufficient to aid in Mineral
and geotechnically logged Resource estimation.
to a level of detail
to support appropriate All individual 1m auger intervals are
Mineral Resource estimation geologically logged, recording relevant
mining studies and metallurgical data to a set template using company
studies. codes. A small representative sample
is
collected for each 1m interval and
placed in appropriately labelled chip
trays for future reference.
All individual 1m core intervals are
geologically logged, recording relevant
data to a set template using company
codes.
Half core remains in the trays and
is securely stored in the company warehouse.
--------------------------------- -----------------------------------------------------------------
Whether logging is qualitative All logging includes lithological features
or quantitative in nature. and estimates of basic mineralogy.
Core (or costean, channel, Logging is generally qualitative.
etc.) photography.
The core is photographed dry, after
logging and sampling is completed.
--------------------------------- -----------------------------------------------------------------
The total length and 100% of samples are geologically logged.
percentage of the relevant
intersection logged
--------------------------------- -----------------------------------------------------------------
Sub-sampling If core, whether cut Due to the soft nature of the material,
techniques or sawn and whether quarter, core samples are carefully cut in half
and sample half or all core taken. by hand tools.
preparation
--------------------------------- -----------------------------------------------------------------
If non-core, whether Auger and core hole samples are dried,
riffled, tube sampled, riffle split and composited. Samples
rotary split, etc. and are collected and homogenised prior
whether sampled wet or to splitting to ensure sample representivity.
dry. 1.5kg composite samples are processed.
An equivalent mass is taken from each
primary sample to make up the composite.
The primary composite sample is considered
representative for this style of mineralisation
and is consistent with industry standard
practice.
--------------------------------- -----------------------------------------------------------------
For all sample types, Techniques for sample preparation are
the nature, quality and detailed on SOP documents verified
appropriateness of the by Placer Resource Geologists.
sample preparation technique.
Sample preparation is recorded on a
standard flow sheet and detailed QA/QC
is undertaken on all samples. Sample
preparation techniques and QA/QC protocols
are appropriate for mineral determination
and support the resource classifications
as stated.
--------------------------------- -----------------------------------------------------------------
Quality control procedures The sampling equipment is cleaned after
adopted for all sub-sampling each sub-sample is taken.
stages to maximise
representivity Field duplicate, laboratory replicate
of samples. and standard sample geostatistical
analysis is employed to manage sample
precision and analysis accuracy.
--------------------------------- -----------------------------------------------------------------
Measures taken to ensure Sample size analysis is completed to
that the sampling is verify sampling accuracy. Field duplicates
representative of the are collected for precision analysis
in situ material collected, of riffle splitting. SOPs consider
including for instance sample representivity. Results indicate
results for field a sufficient level of precision for
duplicate/second-half the resource classification.
sampling.
--------------------------------- -----------------------------------------------------------------
Whether sample sizes The sample size is considered appropriate
are appropriate to the for the material sampled.
grain size of the material
being sampled.
--------------------------------- -----------------------------------------------------------------
Quality The nature, quality and Rutile
of assay appropriateness of the The Malawi onsite laboratory sample
data and assaying and laboratory preparation methods are considered
laboratory procedures used and whether quantitative to the point where a heavy
tests the technique is considered mineral concentrate (HMC) is generated.
partial or total.
Final results generated are for recovered
rutile i.e, the % mass of the sample
that is rutile that can be recovered
to the non-magnetic component of a
HMC.
Heavy liquid separation (HLS) of the
HM is no longer required and a HM result
is not reported in the updated MRE.
The HMC prepared via wet-table, gravity
separation at the Lilongwe Laboratory
provides an ideal sample for subsequent
magnetic separation and XRF.
All 4,738 samples (not incl. QA) included
in the MRE update received the following
workflow undertaken on-site in Malawi;
* Dry sample in oven for 1 hour at 105
* Soak in water and lightly agitate
* Wet screen at 5mm, 600um and 45um to remove oversize
and slimes material
* Dry +45um -600mm (sand fraction) in oven for 1 hour
at 105
3,787 of the 4,738 samples received
the following workflow undertaken on-site
in Malawi
* Pass +45um -600mm (sand fraction) across wet table to
generate a HMC.
* Dry HMC in oven for 30 minutes at 105
Bag HMC fraction and send to Perth,
Australia for quantitative chemical
and mineralogical determination.
951 of the 4,738 sample received the
following workflow undertaken at Perth
based Laboratories (superseded).
* Split 150g of sand fraction for HLS using
Tetrabromoethane (TBE, SG 2.96g/cc) as the liquid
heavy media to generate HMC. Work undertaken at
Diamantina Laboratories.
All of the 4,738 samples received the
final workflow undertaken at Perth
based Laboratories.
* Magnetic separation of the HMC by Carpco magnet @
16,800G (2.9Amps) into a magnetic (M) and
non-magnetic (NM) fraction. Work undertaken at Allied
Mineral Laboratories (AML) in Perth.
* The NM fractions were sent to either ALS Perth or
Intertek Perth for quantitative XRF analysis.
Intertek samples received the standard mineral sands
suite FB1/XRF72. ALS Samples received XRF_MS.
Graphite
4,589 Samples processed at Intertek-Genalysis
Perth via method C72/CSA.
A portion of each test sample is dissolved
in dilute hydrochloric acid to liberate
carbonate carbon. The solution is filtered
using a filter paper and the collected
residue is the dried to 425degC in
a muffle oven to drive off organic
carbon. The dried sample is then combusted
in a Carbon/ Sulphur analyser to yield
total graphitic or TGC.
An Eltra CS-800 induction furnace infra-red
CS analyser is then used to determine
the remaining carbon which is reported
as TGC as a percentage.
--------------------------------- -----------------------------------------------------------------
For geophysical tools, Acceptable levels of accuracy and precision
spectrometers, handheld have been established. No handheld
XRF instruments, etc., XRF methods are used for quantitative
the parameters used in determination.
determining the analysis
including instrument
make and model, reading
times, calibrations factors
applied and their derivation,
etc.
--------------------------------- -----------------------------------------------------------------
Nature of quality control Sovereign uses internal and externally
procedures adopted (e.g. sourced wet screening reference material
standards, blanks, duplicate, inserted into samples batches at a
external laboratory checks) rate of 1 in 20. The externally sourced,
and whether acceptable certified standard reference material
levels of accuracy (i.e. for HM and Slimes assessment is provided
lack of bias) and precision by Placer Consulting.
have been established.
An external laboratory raw sample duplicate
is sent to laboratories in Perth, Australia
as an external check of the full workflow.
These duplicates are produced at a
rate of 1 in 20.
Accuracy monitoring is achieved through
submission of certified reference materials
(CRM's). ALS and Intertek both use
internal CRMs and duplicates on XRF
analyses.
Sovereign also inserts CRMs into the
sample batches at a rate of 1 in 20.
Three Rutile CRMs are used by Sovereign
and range from 35% - 95% TiO(2) .
Three Graphite CRM's are used by Sovereign
and range from 3% - 25% TGC.
Analysis of sample duplicates is undertaken
by standard geostatistical methodologies
(Scatter, Pair Difference and QQ Plots)
to test for bias and to ensure that
sample splitting is representative.
Standards determine assay accuracy
performance, monitored on control charts,
where failure (beyond 3SD from the
mean) may trigger re-assay of the affected
batch.
Examination of the QA/QC sample data
indicates satisfactory performance
of field sampling protocols and assay
laboratories providing acceptable levels
of precision and accuracy.
Acceptable levels of accuracy and precision
are displayed in geostatistical analyses
to support the resource classifications
as applied to the estimate.
--------------------------------- -----------------------------------------------------------------
Verification The verification of significant Results are reviewed in cross-section
of sampling intersections by either using Datamine Studio RM software and
& assaying independent or alternative any spurious results are investigated.
company personnel. The deposit type and consistency of
mineralisation leaves little room for
unexplained variance. Extreme high
grades are not encountered.
--------------------------------- -----------------------------------------------------------------
The use of twinned holes. Twinned holes are drilled across a
geographically dispersed area to determine
short-range geological and assay field
variability for the resource estimation.
Twin drilling is applied at a rate
of 1 in 20 routine holes. Twin paired
data (HA v HA & PT v PT) represents
<1% of the drill database included
in the updated MRE. Substantial comparative
data between different drilling types
and test pit results are also available
but not referenced in the MRE.
Additional twin drilling data are recommended
(5% of the drill database). Of the
twins reviewed, acceptable levels of
precision are displayed in the geostatistical
analysis to support the resource classifications
as applied to the estimate.
--------------------------------- -----------------------------------------------------------------
Documentation of primary All data is collected initially on
data, data entry procedures, paper logging sheets and codified to
data verification, data the Company's templates. This data
storage (physical and is hand entered to spreadsheets and
electronic) protocols. validated by Company geologists. This
data is then imported to a Microsoft
Access Database and validated automatically
and manually.
A transition to electronic field and
laboratory data capture is well advanced.
--------------------------------- -----------------------------------------------------------------
Discuss any adjustment Assay data adjustments are made to
to assay data. convert laboratory collected weights
to assay field percentages and to account
for moisture.
QEMSCAN of the NM fraction shows dominantly
clean and liberated rutile grains and
confirms rutile is the only titanium
species in the NM fraction.
Recovered rutile is therefore defined
and reported here as: TiO(2) recovered
in the +45 to -600um range to the NM
concentrate fraction as a % of the
total primary, dry, raw sample mass
divided by 95% (to represent an approximation
of final product specifications). i.e
recoverable rutile within the whole
sample.
--------------------------------- -----------------------------------------------------------------
Location Accuracy and quality A Trimble R2 Differential GPS is used
of data of surveys used to locate to pick up the HA collars. Daily capture
points drill holes (collar and at a registered reference marker ensures
down-hole surveys), trenches, equipment remains in calibration.
mine workings and other No downhole surveying of HA holes is
locations used in Mineral completed. Given the vertical nature
Resource estimation. and shallow depths of the HA holes,
drill hole deviation is not considered
to significantly affect the downhole
location of samples.
--------------------------------- -----------------------------------------------------------------
Specification of the WGS84 UTM Zone 36 South.
grid system used.
--------------------------------- -----------------------------------------------------------------
Quality and adequacy The digital terrane model (DTM) was
of topographic control. generated by wireframing a 20m-by-20m
lidar drone survey point array, commissioned
by SVM in March 2022. Major cultural
features were removed from the survey
points file prior to generating the
topographical wireframe for resource
model construction. The ultra-high
resolution 3D drone aerial survey was
executed utilising a RTK GPS equipped
Zenith aircraft with accuracy of <10cm
ground sampling distance (GSD).
The DTM is suitable for the classification
of the resources as stated.
--------------------------------- -----------------------------------------------------------------
Data spacing Data spacing for reporting The HA collars are spaced at nominally
& distribution of Exploration Results. 400m along the 400m spaced drill-lines
with the PT holes similarly spaced
at an offset, infill grid. The resultant
200m-by-200m drill spacing (to the
strike orientation of the deposit)
is deemed to adequately define the
mineralisation in the MRE.
The PT twin and density sample holes
are selectively placed throughout the
deposit to ensure a broad geographical
and lithological spread for the analysis.
--------------------------------- -----------------------------------------------------------------
Whether the data spacing The drill spacing and distribution
and distribution is sufficient is considered to be sufficient to establish
to establish the degree a degree of geological and grade continuity
of geological and grade appropriate for the Mineral Resource
continuity appropriate estimation.
for the Mineral Resource
and Ore Reserve estimation Kriging neighbourhood analysis completed
procedure(s) and classifications using Supervisor software informs the
applied. optimal drill and sample spacing for
the MRE. Based on these results and
the experience of the Competent Person,
the data spacing and distribution is
considered adequate for the definition
of mineralisation and adequate for
mineral resource estimation.
--------------------------------- -----------------------------------------------------------------
Whether sample compositing Individual 1m auger intervals have
has been applied. been composited, based on lithology,
at 2 - 5m sample intervals for the
1205 auger holes. Core holes have been
sampled at a regular 2m interval to
provide greater control on mineralisation
for the Indicated Resource.
The DH Compositing tool was utilised
in Supervisor software to define the
optimal sample compositing length.
A 2m interval is applied to the MRE.
--------------------------------- -----------------------------------------------------------------
Orientation Whether the orientation Sample orientation is vertical and
of data of sampling achieves approximately perpendicular to the
in relation unbiased sampling of orientation of the mineralisation,
to geological possible structures and which results in true thickness estimates,
structure the extent to which this limited by the sampling interval as
is known considering applied. Drilling and sampling are
the deposit type carried out on a regular square grid.
There is no apparent bias arising from
the orientation of the drill holes
with respect to the orientation of
the deposit.
--------------------------------- -----------------------------------------------------------------
If the relationship between There is no apparent bias arising from
the drilling orientation the orientation of the drill holes
and the orientation of with respect to the orientation of
key mineralised structures the deposit.
is considered to have
introduced a sampling
bias, this should be
assessed and reported
if material.
--------------------------------- -----------------------------------------------------------------
Sample The measures taken to Samples are stored in secure storage
security ensure sample security from the time of drilling, through
gathering, compositing and analysis.
The samples are sealed as soon as site
preparation is complete.
A reputable international transport
company with shipment tracking enables
a chain of custody to be maintained
while the samples move from Malawi
to Australia. Samples are again securely
stored once they arrive and are processed
at Australian laboratories. A reputable
domestic courier company manages the
movement of samples within Perth, Australia.
At each point of the sample workflow
the samples are inspected by a company
representative to monitor sample condition.
Each laboratory confirms the integrity
of the samples upon receipt.
--------------------------------- -----------------------------------------------------------------
Audits The results of any audits The CP Richard Stockwell has reviewed
or reviews or reviews of sampling and advised on all stages of data collection,
techniques and data sample processing, QA protocol and
mineral resource estimation. Methods
employed are considered industry best-practice.
Perth Laboratory visits have been completed
by Mr Stockwell. Field and in-country
lab visits are were precluded by Covid
19 travel restrictions. In these cases,
audit is completed by SOP review, site
visits by an experienced senior geologist
from South Africa and collection of
photographs and video during operations.
Sovereign Metals Managing Director
Julian Stephens and Exploration Manager
Samuel Moyle have been onsite in Malawi
numerous times since the discovery
of the Kasiya Deposit.
Site audit by the CP is anticipated
in May 2022.
--------------------------------- -----------------------------------------------------------------
SECTION 2 - REPORTING OF EXPLORATION RESULTS
Criteria Explanation Commentary
Mineral tenement & land tenure status Type, reference name/number, location The Company owns 100% of the
and ownership including agreements or following Exploration Licences (ELs),
material issues Retention Licences (RLs),
with third parties such as joint Mining Licence Applications (AMLs)
ventures, partnerships, overriding and Licence Applications (APLs) under
royalties, native title the Mines and Minerals
interests, historical sites, Act 2019, held in the Company's
wilderness or national park and wholly-owned, Malawi-registered
environment settings. subsidiaries: AML0088 (Malingunde
Mining Licence application), APL031,
EL0609, EL0492, EL0528, EL0545,
EL0561, EL0582 and RL0012
A 5% royalty is payable to the
government upon mining and a 2% of
net profit royalty is payable
to the original project vendor.
No significant native vegetation or
reserves exist in the area. The
region is intensively
cultivated for agricultural crops.
-------------------------------------- --------------------------------------
The security of the tenure held at The tenements are in good standing
the time of reporting along with any and no known impediments to
known impediments exploration or mining exist.
to obtaining a licence to operate in
the area.
-------------------------------------- --------------------------------------
Exploration done by other parties Acknowledgement and appraisal of Sovereign Metals Ltd is a first-mover
exploration by other parties. in the discovery and definition of
residual rutile and
graphite resources in Malawi. No
other parties are, or have been,
involved in exploration.
-------------------------------------- --------------------------------------
Geology Deposit type, geological setting and The rutile deposit type is considered
style of mineralisation a residual placer formed by the
intense weathering of
rutile-rich basement paragneisses and
variable enrichment by elluvial
processes.
Rutile occurs in a mostly
topographically flat area west of
Malawi's capital, known as the
Lilongwe Plain, where a deep tropical
weathering profile is preserved. A
typical profile from
top to base is generally soil ("SOIL"
0-1m) ferruginous pedolith ("FERP",
1-4m), mottled zone
("MOTT", 4-7m), pallid saprolite
("PSAP", 7-9m), saprolite ("SAPL",
9-25m), saprock ("SAPR",
25-35m) and fresh rock ("FRESH"
>35m).
The low-grade graphite mineralisation
occurs as multiple bands of graphite
gneisses, hosted
within a broader Proterozoic
paragneiss package. In the Kasiya
areas specifically, the preserved
weathering profile hosts significant
vertical thicknesses, from near
surface, of graphite
mineralisation.
-------------------------------------- --------------------------------------
Drill hole information A summary of all information material All intercepts relating to the Kasiya
to the understanding of the Deposit have been included in public
exploration results including releases during
a tabulation of the following each phase of exploration and in this
information for all Material drill report. Releases included all collar
holes: easting and northings and composite data
of the drill hole collar; elevation and these can be viewed on the
or RL (Reduced Level-elevation above Company website.
sea level in metres There are no further drill hole
of the drill hole collar); dip and results that are considered material
azimuth of the hole; down hole length to the understanding
and interception of the exploration results.
depth; and hole length Identification of the broad zone of
mineralisation is made via
multiple intersections of drill holes
and to list them all would not give
the reader any further
clarification of the distribution of
mineralisation throughout the
deposit.
-------------------------------------- --------------------------------------
If the exclusion of this information No information has been excluded.
is justified on the basis that the
information is not
Material and this exclusion does not
detract from the understanding of the
report, the Competent
Person should clearly explain why
this is the case
-------------------------------------- --------------------------------------
Data aggregation methods In reporting Exploration Results, All results reported are of a
weighting averaging techniques, length-weighted average of in-situ
maximum and/or minimum grade grades. The resource is reported
truncations (e.g. cutting of at a range of bottom cut-off grades
high-grades) and cut-off grades are in recognition that optimisation and
usually Material and should financial assessment
be stated. is outstanding.
A nominal bottom cut of 0.7% rutile
is offered, based on preliminary
assessment of resource
product value and anticipated cost of
operations.
-------------------------------------- --------------------------------------
Where aggregate intercepts No data aggregation was required.
incorporate short lengths of
high-grade results and longer lengths
of low-grade results, the procedure
used for such aggregation should be
stated and some typical
examples of such aggregations should
be shown in detail.
-------------------------------------- --------------------------------------
The assumptions used for any Rutile Equivalent (RutEq)
reporting of metal equivalent values Formula : Rutile Grade x Recovery
should be clearly stated. (97%) x Rutile Price (US$1,346/t) +
Graphite Grade x Recovery
(62%) x Graphite Price (US$1,085/t) /
Rutile Price (US$1,346/t).
Commodity Prices:
Rutile price: US$1,346/t
Graphite price: US$1,085/t
Metallurgical Recovery:
Rutile Recovery: 97%
Graphite Recovery: 62%
All assumptions taken from the
Company's 2021 Scoping Study released
16 December 2021.
The Modifying Factors included in the
JORC Code were assessed as part of
the Scoping Study,
including mining, processing,
infrastructure, economic, marketing,
legal, environmental, social
and government factors. The Company
has received advice from appropriate
experts when assessing
each Modifying Factor.
Following an assessment of the
results of the Scoping Study, the
Company has formed the view
that the next stage of feasibility
studies is justified for Kasiya.
Feasibility Studies will
provide the Company with far more
comprehensive assessment of a range
of options for the technical
and economic viability of Kasiya
which by international standards
should be sufficient detail
for project development financers to
base an investment decision.
-------------------------------------- --------------------------------------
Relationship between mineralisation These relationships are particularly The mineralisation has been released
widths & intercept lengths important in the reporting of by weathering of the underlying,
Exploration Results. layered gneissic bedrock
that broadly trends NE-SW at Kasiya
North and N-S at Kasiya South. It
lies in a laterally
extensive superficial blanket with
high-grade zones reflecting the broad
bedrock strike orientation
of 045deg in the North of Kasiya and
360deg in the South of Kasiya.
-------------------------------------- --------------------------------------
If the geometry of the mineralisation The mineralisation is laterally
with respect to the drill hole angle extensive where the entire weathering
is known, its nature profile is preserved
should be reported. and not significantly eroded. Minor
removal of the mineralised profile
has occurred in alluvial
channels. These areas are adequately
defined by the drilling pattern and
topographical control
for the resource estimate.
-------------------------------------- --------------------------------------
If it is not known and only the down Downhole widths approximate true
hole lengths are reported, there widths limited to the sample
should be a clear statement intervals applied. Mineralisation
to this effect (e.g. 'down hole remains open at depth and in areas
length, true width not known'. coincident with high-rutile grade
lithologies in basement
rocks, is increasing with depth.
Graphite results are approximate true
width as defined by
the sample interval and typically
increase with depth.
-------------------------------------- --------------------------------------
Diagrams Appropriate maps and sections (with Refer to figures in the original
scales) and tabulations of intercepts announcement and also in previous
should be included releases. These are accessible
for any significant discovery being on the Company's webpage.
reported. These should include, but
not be limited to
a plan view of the drill collar
locations and appropriate sectional
views.
-------------------------------------- --------------------------------------
Balanced reporting Where comprehensive reporting of all All results are included in this
Exploration Results is not report and in previous releases.
practicable, representative These are accessible on
reporting of both low and high-grades the Company's webpage.
and/or widths should be practiced to
avoid misleading
reporting of exploration results.
-------------------------------------- --------------------------------------
Other substantive exploration data Other exploration data, if meaningful Limited lateritic duricrust has been
and material, should be reported variably developed at Kasiya, as is
including (but not customary in tropical
limited to: geological observations; highland areas subjected to seasonal
geophysical survey results; wet/dry cycles. Lithological logs
geochemical survey results; record drilling refusal
bulk samples - size and method of in 30 HA holes, or just over 2% of
treatment; metallurgical test the drill database, No drilling
results; bulk density, groundwater, refusal was recorded from
geotechnical and rock PT drilling.
characteristics; potential Slimes (-45 um ) averages 48wt% in
deleterious or contaminating the Indicated Resource at a 0.7%
substances. rutile bottom cut. Separation
test work conducted at AML
demonstrates the success in applying
a contemporary mineral sands
flowsheet in treating this material
and achieving excellent rutile
recovery.
Sample quality (representivity) is
established by geostatistical
analysis of comparable sample
intervals.
Rutile has been determined, by
QEMSCAN, to be the major TiO(2)
-bearing mineral at and around
several rutile prospects within
Sovereign's ground package. The
Company continues to examine
areas within the large tenement
package for rutile and graphite
by-product mineralisation.
-------------------------------------- --------------------------------------
Further work The nature and scale of planned Assessment of resource depth,
further work (e.g. test for lateral guided by existing results over
extensions or depth extensions high-grade basement lithologies
or large-scale step-out drilling). is required. Potentially, a
substantial resource increase
could be achieved without
increasing
the disturbance footprint.
Further metallurgical assessment
is recommended to characterise
rutile quality and establish
whether any chemical variability
is inherent across the deposit.
Resource-infill drilling should
continue with closed-hole
techniques, such as coring or
reverse
circulation with samples
honouring lithological
boundaries. HA drilling remains
as an effective
means of determining anomalism
in regional exploration
programmes.
Additional twin drilling is
recommended.
CP audit (by Placer/RGS) to
ensure establishment of industry
best practice to drilling,
sampling
and analysis procedures.
-------------------------------------- --------------------------------------
Diagrams clearly highlighting the Refer to diagrams in the body of this
areas of possible extensions, report and in previous releases.
including the main geological These are accessible
interpretations and future drilling on the Company's webpage.
areas, provided this information is
not commercially sensitive.
SECTION 3 - ESTIMATION AND REPORTING OF MINERAL RESOURCES
Criteria JORC Code explanation Commentary
Database Measures taken to ensure Data are manually entered into database
integrity that data has not been tables according to SOP's and conforming
corrupted by, for example, to company field names and classifications.
transcription or keying These are then migrated to a MaxGeo,
errors, between its Datashed5 database with validation and
initial collection and quarantine capability. Relevant tables
its use for Mineral from the database are exported to csv
Resource estimation format and forwarded to Placer for independent
purposes. review.
------------------------------------- -----------------------------------------------------
Data validation procedures Validation of the primary data include
used. checks for overlapping intervals, missing
survey data, missing assay data, missing
lithological data, missing and mis-matched
(to Lithology) collars.
Statistical, out-of-range, distribution,
error and missing data validation is
completed by Placer on data sets before
being compiled into a de-surveyed drill
hole file and interrogated in 3D using
D atamine Studio RM software.
All questions relating to the input
data are forwarded to the client for
review and resolution prior to resource
estimation.
-------------------------------------
Site visits Comment on any site The CP (Richard Stockwell) was unable
visits undertaken by to visit the site due to international
the Competent Person travel restrictions imposed by the Australian
and the outcome of those Government. Visits were completed to
visits. Perth laboratories. There are no issues
observed that might be considered material
to the Mineral Resource under consideration.
-------------------------------------
If no site visits have The Australian and Western Australian
been undertaken indicate Governments have restricted unnecessary
why this is the case. international travel due to the global
Covid19 pandemic. The restrictions have
been in place since the discovery of
the Kasiya Rutile Deposit in early 2020.
The company has endeavoured to increase
its site photography and drone footage
library to satisfy the competent person
that best practice procedures are being
employed in country. Site audit by the
CP is anticipated in May 2022.
------------------------------------- -----------------------------------------------------
Geological Confidence in (or conversely, There is a high degree of repeatability
interpretation the uncertainty of) and uniformity in the geological character
the geological interpretation of the Kasiya Deposit demonstrated by
of the mineral deposit. lithological logging of drill core and
HA samples. Satellite imagery and airborne
geophysical data provided guidance for
interpreting the strike continuity of
the deposit.
Drill hole intercept logging and assay
results (HA and core), stratigraphic
interpretations from drill core and
geological logs of HA drill data have
formed the basis for the geological
interpretation. The drilling exclusively
targeted the SOIL, FERP, MOTT and SAPL
weathering horizons, with no sampling
of the SAPR and below the upper level
of the fresh rock (FRESH) domain.
------------------------------------- -----------------------------------------------------
Nature of the data used No assumptions were made.
and of any assumptions
made.
------------------------------------- -----------------------------------------------------
The effect, if any, No alternative interpretations on mineral
of alternative interpretations resource estimation are offered.
on Mineral Resource
estimation.
------------------------------------- -----------------------------------------------------
The use of geology in The mineral resource is constrained
guiding and controlling by the drill array plus one interval
Mineral Resource estimation. in each of the X, Y and Z axes.
The topographical DTM constrains the
vertical extent of the resource. Rutile,
enriched at surface by deflation and
elluvial processes, is constrained internally
by a hard boundary at the base of the
SOIL and FERP horizons that overly the
(generally less-mineralised) MOTT and
SAPL horizons. In this way, continuity
of rutile, observed in surface drilling
results, is honoured between drill lines
rather than being diluted by averaging
with underlying, lower-grade material.
The base to mineralisation is arbitrarily
designated at effective drill depth
plus one (average sample width) interval
in the Z orientation. The effective
drill depth is where HA drilling intersects
the static water table, rather than
being a true depth to un-mineralised
basement. Deeper drilling has shown
rutile enrichment persists to bedrock
and a material resource increase is
anticipated upon application of suitable
drilling methods to target depth extensions
to the Kasiya/Nsaru Deposit.
A base to mineralisation of BOH plus
2.7m (-2.7 RL) is retained for this
estimate despite a slightly more generous
2.8m average sample interval recorded
in the updated resource database. This
basement horizon is interpreted on 200m
north sections and accounts for artifacts
of ineffective drilling terminating
in soil or ferp horizons. It is applied
consistently to both Indicated and Inferred
resource areas.
------------------------------------- -----------------------------------------------------
The factors affecting Rutile grade is generally concentrated
continuity both of grade in surface regolith horizons. Deposit
and geology. stratigraphy and weathering is consistent
along and across strike. Rutile grade
is oriented at 45 degrees at Kasiya
North and 360 degrees at Kasiya South,
which mimics the underlying basement
source rocks and residual topography.
Rutile varies across strike as a result
of the layering of mineralised and non-mineralised
basement rocks.
------------------------------------- -----------------------------------------------------
Dimensions The extent and variability The Kasiya mineralised footprint strikes
of the Mineral Resource NE - SW and currently occupies an area
expressed as length of about 187km(2)
(along strike or otherwise),
plan width, and depth Due to drilling methodology, basement,
below surface to the or the floor to the mineralisation,
upper and lower limits has not been intersected. Average drilling
of the Mineral Resource. depth is about 10m, and mineralisation
remains open in most of these holes.
------------------------------------- -----------------------------------------------------
Estimation The nature and appropriateness Datamine Studio RM and Supervisor software
and modelling of the estimation technique(s) is used for the resource estimation
techniques applied and key assumptions, with key fields being interpolated into
including treatment the volume model using the Inverse Distance
of extreme grade values, weighting (power 2) method. Dynamic
domaining, interpolation Anisotropy search ellipses, informed
parameters and maximum by variography, kriging neighbourhood
distance of extrapolation analysis and gridding of rutile results
from data points. If were used to search for data during
a computer assisted the interpolation. Suitable limitations
estimation method was on the number of samples and the impact
chosen include a description of those samples, was maintained.
of computer software
and parameters used. Extreme grade values were not identified
by statistical analysis, nor were they
anticipated in this style of deposit.
No top cut is applied to the resource
estimation.
Interpolation was constrained by hard
boundaries (domains) that result from
the geological interpretation.
------------------------------------- -----------------------------------------------------
The availability of This is the third MRE for the Kasiya
check estimates, previous Deposit and the first to report the
estimates and/or mine now coincident southern and eastern
production records and extensions to Kasiya (previously named
whether the Mineral Nsaru).
Resource estimate takes
appropriate account Pilot plant-scale test work has been
of such data. completed and results support the view
of the Competent Person that an economic
deposit of readily separable, high-quality
rutile is anticipated from the Kasiya
Deposit. The recovery of a coarse-flake
graphite by-product was achieved by
the test work.
------------------------------------- -----------------------------------------------------
The assumptions made A graphite by-product was modelled as
regarding recovery of recoverable TGC.
by-products.
------------------------------------- -----------------------------------------------------
Estimation of deleterious No significant deleterious elements
elements or other non-grade are identified. A selection of assay,
variables of economic magnetic separation and XRF results
significance (e.g. sulphur are modelled and are reported.
for acid mine drainage
characterisation).
------------------------------------- -----------------------------------------------------
In the case of block The average parent cell size used is
model interpolation, equivalent to the average drill hole
the block size in relation spacing within the Indicated Resource
to the average sample (200m*200m). Cell size in the Z-axis
spacing and the search is established to cater for the composite
employed. sample spacing and definition of the
Topsoil domain. This resulted in a parent
cell size of 200m x 200m x 3m for the
volume model with 5 sub-cell splits
available in the X and Y axes and 10
in the Z axis to smooth topographical
and lithological transitions. A sub-cell
interpolation was applied to the MRE
to better reflect the geological interpretation
and ensure a reasonable graduation of
informing data through intermediate
cell areas.
A Topsoil horizon has been defined at
0.3m thickness throughout the Indicated
Resource area to support anticipated
ore reserve calculation and mining studies.
Topsoil is disclosed separately but
remains in the MRE in recognition of
advanced investigations by SVM on synthetic
topsoil generation for rehabilitation.
------------------------------------- -----------------------------------------------------
Any assumptions behind No assumptions were made regarding the
modelling of selective modelling of selective mining units.
mining units. The resource is reported at an Indicated
level of confidence and is suitable
for optimisation and the calculation
of a Probable Reserve.
------------------------------------- -----------------------------------------------------
Any assumptions about No assumptions were made regarding the
correlation between correlation between variables.
variables.
------------------------------------- -----------------------------------------------------
Description of how the Interpolation was constrained by hard
geological interpretation boundaries (domains) that result from
was used to control the geological interpretation.
the resource estimates.
------------------------------------- -----------------------------------------------------
Discussion of basis Extreme grade values were not identified
for using or not using by statistical analysis, nor were they
grade cutting or capping. anticipated in this style of deposit.
No top cut is applied to the resource
estimation.
------------------------------------- -----------------------------------------------------
The process of validation, Validation of grade interpolations was
the checking process done visually In Datamine by loading
used, the comparison model and drill hole files and annotating,
of model data to drill colouring and using filtering to check
hole data, and use of for the appropriateness of interpolations.
reconciliation data
if available. Statistical distributions were prepared
for model zones from both drill holes
and the model to compare the effectiveness
of the interpolation. Distributions
of section line averages (swath plots)
for drill holes and models were also
prepared for each zone and orientation
for comparison purposes.
The resource model has effectively averaged
informing drill hole data and is considered
suitable to support the resource classifications
as applied to the estimate.
------------------------------------- -----------------------------------------------------
Moisture Whether the tonnages Tonnages are estimated on a dry basis.
are estimated on a dry No moisture content is factored.
basis or with natural
moisture, and the method
of determination of
the moisture content.
------------------------------------- -----------------------------------------------------
Cut-off The basis of the adopted The resource is reported at a range
parameters cut-off grade(s) or of bottom cut-off grades in recognition
quality parameters applied. that optimisation and financial assessment
is outstanding.
A nominal bottom cut of 0.7% rutile
is offered, based on preliminary assessment
of resource value and anticipated operational
cost.
------------------------------------- -----------------------------------------------------
Mining Assumptions made regarding Hydro-mining has been determined as
factors possible mining methods, the optimal method of mining for the
or assumptions minimum mining dimensions Kasiya Rutile deposit. The materials
and internal (or, if competence is loose, soft, fine and
applicable, external) friable with no cemented sand or dense
mining dilution. It clay layers rendering it amenable to
is always necessary hydro-mining. It is considered that
as part of the process the strip ratio would be zero or near
of determining reasonable zero.
prospects for eventual
economic extraction Dilution is considered to be minimal
to consider potential as mineralisation commonly occurs from
mining methods, but surface and mineralisation is generally
the assumptions made gradational with few sharp boundaries.
regarding mining methods
and parameters when Recovery parameters have not been factored
estimating Mineral Resources into the estimate. However, the valuable
may not always be rigorous. minerals are readily separable due to
Where this is the case, their SG differential and are expected
this should be reported to have a high recovery through the
with an explanation proposed, conventional wet concentration
of the basis of the plant.
mining assumptions made.
------------------------------------- -----------------------------------------------------
Metallurgical The basis for assumptions Sovereign have announced three sets
factors or predictions regarding of metallurgical results to the market
or assumptions metallurgical amenability. (24 June 2019, 9 September 2020 and
It is always necessary 7 December 2021), relating to the company's
as part of the process ability to produce a high-grade rutile
of determining reasonable product with a high recovery via simple
prospects for eventual conventional processing methods. Sovereign
economic extraction engaged AML to conduct the metallurgical
to consider potential test work and develop a flowsheet for
metallurgical methods, plant design considerations.
but the assumptions
regarding metallurgical An initial sighter metallurgical test-work
treatment processes program was undertaken in June 2019
and parameters made on a 180kg sample of saprolite-hosted
when reporting Mineral rutile from an area representative of
Resources may not always the style of mineralisation at the Wofiira
be rigorous. Where this prospect. This test work focused on
is the case, this should generating saleable product specifications
be reported with an and demonstrated that a high-quality
explanation of the basis commercial Rutile product can be produced
of the metallurgical using conventional mineral sands processing
assumptions made. methods. The recovered, in-situ rutile
grade was 1.16% produced in a +38um
to -250um size fraction with a produced
rutile product grade of 96.0% TiO(2)
.
A follow-up test work program was then
commissioned on a mineralised sample
of approximately 1,000kg composited
from a number of drill holes across
the Kasiya deposit. The sample had a
head grade of 0.96% recoverable rutile.
The test-work focussed on producing
a rutile product.
The test work was based on the flowsheet
previously developed with AML with minor
improvements. The work showed a premium
quality rutile product of 96.3% TiO(2)
with low impurities could again be produced
with favourable product sizing at d50
of 145um. Recoveries were about 98%.
A scoping study test work program was
then undertaken on a 1,600kg mineralised
sample to confirm and improve on the
previous bulk metallurgy program completed
in late 2020. Results again confirmed
premium grade rutile can be produced
via a simple and conventional process
flow sheet and are consistent with previous
results. World-class product chemical
specifications are reported at 95.0%
to 97.2% TiO2 with low impurities and
stand-out metallurgical recoveries ranging
from 94% to 100%.
The product characteristics are considered
by the Competent Person (industrial
minerals) to be favourable for product
marketability.
The Competent Person recommends additional
variability testing to investigate different
geological and weathering domains and
to improve confidence in product quality
across the deposit. This work is anticipated
as the project moves forward into higher-confidence
resource classifications to identify
discrete mineral populations, where
they exist, and assist in accurate mining
and product assumptions during optimisations
and feasibility study.
------------------------------------- -----------------------------------------------------
Environmental Assumptions made regarding A large portion of the Mineral Resource
factors possible waste and process is confined to the SOIL, FERP and MOTT
or assumptions residue disposal options. weathering domains, and any sulphide
It is always necessary minerals have been oxidised in the geological
as part of the process past. Therefore, acid mine-drainage
of determining reasonable is not anticipated to be a significant
prospects for eventual risk when mining from the oxidised domain.
economic extraction
to consider the potential No major water courses run through the
environmental impacts resource area.
of the mining and processing
operation. While at The Kasiya deposit is located within
this stage the determination a farming area and has villages located
of potential environmental along the strike of the deposit. Sovereign
impacts, particularly holds regular discussions with local
for a greenfields project, landholders and community groups to
may not always be well keep them well informed of the status
advanced, the status and future planned directions of the
of early consideration project. Sovereign has benefited from
of these potential environmental maintaining good relations with landowners
impacts should be reported. and enjoys strong support from the community
Where these aspects at large.
have not been considered
this should be reported Kasiya is in a sub-equatorial region
with an explanation of Malawi and is subject to heavy seasonal
of the environmental rainfall, with rapid growth of vegetation
assumptions made. in season. Substantial vegetation or
nature reserve is absent in the area.
------------------------------------- -----------------------------------------------------
Bulk density Whether assumed or determined. Density was calculated from 310 full
If assumed, the basis core samples taken from geographically
for the assumptions. and lithologically-diverse sites across
If determined, the method the deposit. Density measured using
used, whether wet or wet-bulk and dry-bulk density immersion
dry, the frequency of method performed by Sovereign in Malawi
the measurements, the and calculations verified by Placer
nature, size and representativeness Consulting.
of the samples.
Density data was loaded into an Excel
file, which was flagged against weathering
horizons and mineralisation domains.
------------------------------------- -----------------------------------------------------
The bulk density for All bulk density determinations were
bulk material must have completed by the wet-bulk and dry-bulk
been measured by methods density, water-immersion method.
that adequately account
for void spaces (vughs,
porosity, etc.), moisture
and differences between
rock and alteration
zones within the deposit.
------------------------------------- -----------------------------------------------------
Discuss assumptions An average density of 1.65 t/m(3) was
for bulk density estimates determined for the total weathering
used in the evaluation profile.
process of the different
materials. This incorporates and average density
of 1.39 t/m(3) for the SOIL domain,
1.60 t/m(3) for the FERP domain, 1.65
t/m(3) for the MOTT domain, 1.68 t/m(3)
for the PSAP domain, 1.63 t/m(3) for
the SAPL domain, and 1.93 t/m(3) for
the LAT domain. Density data are interpolated
into the resource estimate by the nearest
neighbour method.
------------------------------------- -----------------------------------------------------
Classification The basis for the classification Classification of the MRE is at an Indicated
of the Mineral Resources and Inferred category. Minor regions
into varying confidence of unclassified material occur in sparsely
categories. drilled, typically extraneous regions
of the resource area. These are excluded
from the resource inventory.
------------------------------------- -----------------------------------------------------
Whether appropriate All available data were assessed and
account has been taken the competent person's relative confidence
of all relevant factors in the data was used to assist in the
(i.e. relative confidence classification of the Mineral Resource.
in tonnage/grade estimations,
reliability of input
data, confidence in
continuity of geology
and metal values, quality,
quantity and distribution
of the data).
------------------------------------- -----------------------------------------------------
Whether the result appropriately Results appropriately reflects a reasonable
reflects the Competent and conservative view of the deposit.
Person's view of the
deposit
------------------------------------- -----------------------------------------------------
Audits The results of any audits The Competent Person, Richard Stockwell
or reviews or reviews of Mineral undertook an audit of the resource estimate,
Resource estimates. and found it to be suitable for classification
at an Indicated and Inferred category.
------------------------------------- -----------------------------------------------------
Discussion Where appropriate a Substantial additional resource material
of relative statement of the relative is expected to occur below the effective
accuracy/ accuracy and confidence depth of drilling (water table). High
confidence level in the Mineral grade sample results are constrained
Resource estimate using tightly by search and estimation parameters,
an approach or procedure which are likely to be contiguous upon
deemed appropriate by application of closer-spaced drilling.
the Competent Person.
For example, the application A high-degree of uniformity exists in
of statistical or geostatistical the broad and contiguous lithological
procedures to quantify and grade character of the deposit.
the relative accuracy Open-hole drilling and infill core drilling
of the resource within technique has been expertly applied
stated confidence limits, and data collection procedures, density
or, if such an approach assessments, QA protocols and interpretations
is not deemed appropriate, conform to industry best practice with
a qualitative discussion few exceptions.
of the factors that
could affect the relative Assay, mineralogical determinations
accuracy and confidence and metallurgical test work conform
of the estimate. to industry best practice and demonstrate
a rigorous assessment of product and
procedure. The development of a conventional
processing flowsheet and marketability
studies support the classification of
the Kasiya Resource.
------------------------------------- -----------------------------------------------------
The statement should The estimate is global.
specify whether it relates
to global or local estimates,
and, if local, state
the relevant tonnages,
which should be relevant
to technical and economic
evaluation. Documentation
should include assumptions
made and the procedures
used.
------------------------------------- -----------------------------------------------------
These statements of No production data are available to
relative accuracy and reconcile model results.
confidence of the estimate
should be compared with
production data, where
available.
------------------------------------- -----------------------------------------------------
Glossary
Abbreviation Description
degC Degrees Celsius
---------------------------------------------------------------
um Micrometre or Micron
---------------------------------------------------------------
AACE American Association of Cost Engineering
---------------------------------------------------------------
AC Air-core
---------------------------------------------------------------
ALS ALS Metallurgical Laboratory
---------------------------------------------------------------
amsl Above Mean Sea Level
---------------------------------------------------------------
ARD Acid Rock Drainage
---------------------------------------------------------------
AS Australian Standard
---------------------------------------------------------------
ASNZS Australian and New Zealand Standard
---------------------------------------------------------------
ASX Australian Stock Exchange
---------------------------------------------------------------
AUD Australian Dollar
---------------------------------------------------------------
ave Average
---------------------------------------------------------------
BCM Bulk Cubic Meter
---------------------------------------------------------------
BOO Build Own Operate
---------------------------------------------------------------
Capex Capital Expenditure
---------------------------------------------------------------
CFR Cost and Freight
---------------------------------------------------------------
CEAR Central East African Railways
---------------------------------------------------------------
cm Centimetre
---------------------------------------------------------------
CPR Competent Persons Report
---------------------------------------------------------------
CRM Certified Reference Material
---------------------------------------------------------------
CSR Corporate Social Responsibility
---------------------------------------------------------------
d Day
---------------------------------------------------------------
D Discharge
---------------------------------------------------------------
d/y Days Per Year
---------------------------------------------------------------
DAP Delivered at Place
---------------------------------------------------------------
dB Decibel
---------------------------------------------------------------
DD Diamond-core Drilling
---------------------------------------------------------------
DFS Definitive Feasibility Study
---------------------------------------------------------------
DL Detection Limit
---------------------------------------------------------------
dmt Dry Metric Tonne
---------------------------------------------------------------
DRA DRA Pacific
---------------------------------------------------------------
EAD Environmental Affairs Department (of Malawi)
---------------------------------------------------------------
EAP Employee Assistance Program
---------------------------------------------------------------
EBITDA Earnings Before Interest, Taxes, Depreciation And Amortisation
---------------------------------------------------------------
EHS Environment, Health, And Safety
---------------------------------------------------------------
EIA Environmental Impact Assessment
---------------------------------------------------------------
EL Exploration Licence
---------------------------------------------------------------
EMP Environmental Management Plan
---------------------------------------------------------------
EPC Engineering, Procurement, Construction
---------------------------------------------------------------
EPCM Engineering, Procurement & Construction Management
---------------------------------------------------------------
ERP Emergency Response Plan
---------------------------------------------------------------
ESIA Environmental And Social Impact Assessment
---------------------------------------------------------------
ESR Environmental Scoping Report
---------------------------------------------------------------
FEED Front End Engineering And Design
---------------------------------------------------------------
FEL Front End Loader
---------------------------------------------------------------
FOB Free on Board
---------------------------------------------------------------
FS Feasibility Study
---------------------------------------------------------------
G&A General & Administration
---------------------------------------------------------------
GEL Generally Expected Levels
---------------------------------------------------------------
GHG Greenhouse Gas(es)
---------------------------------------------------------------
GISTM Global Industry Standards on Tailings Management
---------------------------------------------------------------
h Hour
---------------------------------------------------------------
h/d Hours Per Day
---------------------------------------------------------------
h/y Hours Per Year
---------------------------------------------------------------
HA Hand-auger
---------------------------------------------------------------
ha Hectare
---------------------------------------------------------------
HR Human Resources
---------------------------------------------------------------
HRMP Human Resources Management Plan
---------------------------------------------------------------
HSE Health, Safety and Environment
---------------------------------------------------------------
HSEMS Health Safety and Environmental Management System
---------------------------------------------------------------
HSMP Health and Safety Management Plan
---------------------------------------------------------------
HV High Voltage
---------------------------------------------------------------
IBC Intermediate Bulk Container
---------------------------------------------------------------
ICP-MS Inductively Coupled Plasma Mass Spectrometer
---------------------------------------------------------------
ICP-OES Inductively Coupled Plasma Optical Emission Spectrometry
---------------------------------------------------------------
ID Internal Diameter
---------------------------------------------------------------
IDW Inverse-Distance Weighted Algorithm
---------------------------------------------------------------
IFC International Finance Corporation
---------------------------------------------------------------
IRR Internal Rate of Return
---------------------------------------------------------------
IT Information Technology
---------------------------------------------------------------
IUCN International Union for Conservation of Nature
---------------------------------------------------------------
IVI Important Value Index
---------------------------------------------------------------
J Joule (Energy)
---------------------------------------------------------------
JECFA Joint FAO/WHO Expert Committee on Food Additive
---------------------------------------------------------------
JHA Job Hazard Analysis
---------------------------------------------------------------
JORC Australasian Joint Ore Reserves Committee
---------------------------------------------------------------
k Kilo or Thousand
---------------------------------------------------------------
kg Kilogram
---------------------------------------------------------------
km Kilometre
---------------------------------------------------------------
KPI Key Performance Indicator
---------------------------------------------------------------
KRW Korean Won
---------------------------------------------------------------
kt Kilo Tonne (Thousand Metric Tonne)
---------------------------------------------------------------
kW Kilowatt (Power)
---------------------------------------------------------------
kWh Kilowatt Hour
---------------------------------------------------------------
L Litre
---------------------------------------------------------------
LCT Locked Cycle Testwork
---------------------------------------------------------------
LME London Metals Exchange
---------------------------------------------------------------
LoM Life of Mine
---------------------------------------------------------------
LSE London Stock Exchange
---------------------------------------------------------------
LTI Lost Time Injury
---------------------------------------------------------------
LV Low Voltage
---------------------------------------------------------------
m Metre
---------------------------------------------------------------
M Million
---------------------------------------------------------------
m(2) Square Metre
---------------------------------------------------------------
m(3) Cubic Metre
---------------------------------------------------------------
Ma Mega annum (million years)
---------------------------------------------------------------
MCC Motor Control Centre
---------------------------------------------------------------
MG Mine Gate
---------------------------------------------------------------
ML Metal Leaching
---------------------------------------------------------------
mm Millimetre
---------------------------------------------------------------
MNREM Ministry of Natural Resources, Energy and Mining
---------------------------------------------------------------
MPA Maximum Potential Acidity
---------------------------------------------------------------
MPN Most Probably Number (Count of Coliforms and E. coli)
---------------------------------------------------------------
MRA Malawi Revenue Authority
---------------------------------------------------------------
MRE Mineral Resource Estimate
---------------------------------------------------------------
mRL Metre Reduced Level
---------------------------------------------------------------
MRMR Mining Rock Mass Rating
---------------------------------------------------------------
Msal Meters Above Sea Level
---------------------------------------------------------------
MSDS Material Safety Data Sheet
---------------------------------------------------------------
Mt Million Tonnes (Metric)
---------------------------------------------------------------
Mt/y Million Tonnes Per Year
---------------------------------------------------------------
MTI Medical Treatment Injury
---------------------------------------------------------------
MTO Material Take-Off
---------------------------------------------------------------
MW Megawatt
---------------------------------------------------------------
N/A Not Applicable
---------------------------------------------------------------
NA Not Available
---------------------------------------------------------------
NAF Non-Acid Forming
---------------------------------------------------------------
NAG Net Acid Generation
---------------------------------------------------------------
NAPP Net Acid Producing Potential
---------------------------------------------------------------
ND Not Detected
---------------------------------------------------------------
NOH&SC National Occupational Health and Safety Commission (Australia)
---------------------------------------------------------------
NPI Non Process Infrastructure
---------------------------------------------------------------
NPV Net Present Value
---------------------------------------------------------------
NR Not Regulated
---------------------------------------------------------------
NT Near Threatened
---------------------------------------------------------------
NTU Normalised Turbidity Unit
---------------------------------------------------------------
OHS&E Occupational Health, Safety & Environment
---------------------------------------------------------------
PEA Preliminary Economic Assessment
---------------------------------------------------------------
PFD Process Flow Diagram
---------------------------------------------------------------
PFS Pre-Feasibility Study
---------------------------------------------------------------
PPE Personal Protective Equipment
---------------------------------------------------------------
PS Performance Standard
---------------------------------------------------------------
PSU Practical Salinity Unit
---------------------------------------------------------------
PWTP Potable Water Treatment Plant
---------------------------------------------------------------
QA/QC Quality Assurance And Quality Control
---------------------------------------------------------------
RAP Resettlement Action Plan
---------------------------------------------------------------
ROM Run-Of-Mine
---------------------------------------------------------------
RRT Resource Rent Tax
---------------------------------------------------------------
s Second
---------------------------------------------------------------
SG Specific Gravity
---------------------------------------------------------------
SGS SGS Metallurgical Laboratory
---------------------------------------------------------------
SO2 Sulphur Dioxide
---------------------------------------------------------------
SOP Standard Operating Procedure
---------------------------------------------------------------
ST Total Sulphur
---------------------------------------------------------------
SVM Sovereign Metals Limited
---------------------------------------------------------------
t Tonne (Metric)
---------------------------------------------------------------
t/h Tonnes Per Hour
---------------------------------------------------------------
t/m3 Tonnes Per Cubic Metre
---------------------------------------------------------------
t/y Tonnes Per Year
---------------------------------------------------------------
ta Comminution Test Parameter
---------------------------------------------------------------
TARP Trigger, Action, Responsibility, Procedure
---------------------------------------------------------------
TBC To Be Confirmed
---------------------------------------------------------------
TC Total Carbon
---------------------------------------------------------------
TC Treatment Charge
---------------------------------------------------------------
TDS Total Dissolved Solids
---------------------------------------------------------------
TGC Total Graphitic Carbon
---------------------------------------------------------------
TSF Tailings Storage Facility
---------------------------------------------------------------
TSP Total Suspended Particulates
---------------------------------------------------------------
TSS Total Suspended Solids
---------------------------------------------------------------
UFD Utility Flow Diagram
---------------------------------------------------------------
UOM Unit of Measure
---------------------------------------------------------------
URTI Upper Respiratory Tract Infection
---------------------------------------------------------------
US EPA The United States Environmental Protection Agency
---------------------------------------------------------------
US$ United States Dollar
---------------------------------------------------------------
USD United States Dollar
---------------------------------------------------------------
UTM Universal Transverse Mercator
---------------------------------------------------------------
V Volt
---------------------------------------------------------------
VAT Value Added Tax
---------------------------------------------------------------
VSD Variable Speed Drive
---------------------------------------------------------------
VTEM Versatile Time Domain Electromagnetic
---------------------------------------------------------------
VU Vulnerable
---------------------------------------------------------------
w/v Weight/Volume
---------------------------------------------------------------
w/w Weight/Weight
---------------------------------------------------------------
WBG World Bank Group
---------------------------------------------------------------
WBS Work Breakdown Schedule
---------------------------------------------------------------
WHO World Health Organization
---------------------------------------------------------------
XRD X-Ray Diffraction
---------------------------------------------------------------
XRF X-Ray Fluorescence
---------------------------------------------------------------
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MSCEAALSEFSAEEA
(END) Dow Jones Newswires
April 05, 2022 02:01 ET (06:01 GMT)
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