REG - Sovereign Metals Ltd - DFS Geotechnical Programs in Progress

Sovereign MetalsAnnouncement

16/04/2025 07:00

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RNS Number : 2262F  Sovereign Metals Limited  16 April 2025

NEWS RELEASE I 16 APRIL 2025

 

DFS GEOTECHNICAL PROGRAMS IN PROGRESS

 

·  Extensive geotechnical investigations underway at key project
infrastructure locations across Sovereign's Kasiya Project, and expected to be
completed in the coming weeks

·    Results will support layout and engineering design for the Kasiya
DFS which is due in Q4 2025. These programs are being conducted with oversight
from the Sovereign-Rio Tinto Technical Committee

·   Planned infrastructure covered by the programs includes mining, process
plants, tailings storage facility, water storage dam as well as power and
logistics routes

·  Results of 2024 infill drilling program and an updated mineral resource
estimate expected to be reported during Q2 2025

Sovereign Metals Limited (ASX:SVM; AIM:SVML; OTCQX: SVMLF) (Sovereign or the
Company) is pleased to announce that several geotechnical drilling programs
are now underway at its Kasiya Rutile Graphite Project (Kasiya or the Project)
in Malawi. The results of the programs will be used to support the
infrastructure layout and engineering design for the Project's Definitive
Feasibility Study (DFS) due in Q4 2025.

Infrastructure covered by the geotechnical programs includes the processing
plant areas, the tailings storage facility (TSF) area, the raw water storage
dam, the Kasiya substation, and other mining infrastructure. Various
geotechnical and geophysics methods are being used across the project site
area.

Managing Director and CEO Frank Eagar commented: "Following the completion of
our Optimised Prefeasibility Study in January, DRA and a number of tier one
consultants have been appointed to advance the DFS in combination with our
highly experienced owner's team. Comprehensive data is being gathered from
these field programs and will determine optimal locations for our key Project
infrastructure. We remain on track to complete a DFS in Q4 2025."

Geotechnical Programs Summary

Sovereign is currently conducting various geotechnical programs with oversight
from the Sovereign-Rio Tinto Technical Committee. The programs are expected to
be completed in the coming weeks.

Geotechnical investigations are essential for understanding the physical
properties of ground for proposed infrastructure.

Selected locations are based on the findings of the Optimised Prefeasibility
Study (OPFS) announced in January 2025. The OPFS proposes a large-scale,
long-life operation to deliver substantial volumes of natural rutile and
graphite while generating significant returns. The Project layout was
determined by evaluating technical, environmental and social factors.

The primary design objectives influencing the site location and arrangement
were minimising environmental and social impact and keeping facilities as
central and convenient to the mine pits as possible.

Figure 1: Geotechnical diamond drilling at the Northern Plant Area

The current geotechnical programs will, therefore, cover the following.

·    North and South mining infrastructure areas

·    North and South processing plant areas

·    TSF and raw water storage dam areas

·    Transport infrastructure: railway spur and main access road

·    Permanent and Contractors camp

·    Kasiya substation yard and backup power area

 

Figure 2: Geotechnical diamond drilling program underway

Geotechnical analysis methods being undertaken at Kasiya to understand
subsurface conditions and to assist in the engineering and design of
earthworks include diamond core drilling, spiral augur drilling, pitting using
excavators, trenching, cone penetration tests (CPTu) and Multi-channel
Analysis of Surface Waves (MASW). Ground geophysics are being completed using
various techniques including active seismic techniques at the TSF site and a
resistivity survey at the power substation site.

 

 Enquiries
 Frank Eagar, Managing Director & CEO

 South Africa / Malawi

 +27 21 140 3190

 Sapan Ghai, CCO

 London

 +44 207 478 3900

 

 Nominated Adviser on AIM and Joint Broker     
 SP Angel Corporate Finance LLP               +44 20 3470 0470
 Ewan Leggat

 Charlie Bouverat
                                               
 Joint Broker                                  
 Stifel                                       +44 20 7710 7600
 Varun Talwar
 Ashton Clanfield

 Buchanan                                     + 44 20 7466 5000

 

Forward Looking Statements

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.

 

 

 

 

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