REG - Sovereign Metals Ltd - Kasiya Graphite for use in Lithium ion Batteries
08/06/2023 07:00
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RNS Number : 0394C Sovereign Metals Limited 08 June 2023
SOVEREIGN METALS LIMITED
NEWS RELEASE | 8 JUNE 2023
KASIYA GRAPHITE SHOWS EXCELLENT SUITABILITY FOR USE IN LITHIUM ION BATTERIES
· Downstream testwork on Kasiya's graphite co-product demonstrated it
to have superior qualities showing excellent suitability for use in
lithium-ion batteries
· Key outcomes were:
o Near perfect crystallinity - an indicator of battery anode performance
o Above benchmark >99.95% carbon purity achieved
o No critical impurities or deleterious elements commonly found in other
natural graphite sources
· Further testwork underway to optimise concentrate grade and
confirm optimal purification process
· In 2022, the lithium-ion battery anode market became the biggest
end-market for natural flake graphite. Demand for anodes grew by 46% in 2022
compared to only 14% growth in natural flake graphite supply
Sovereign Metals Limited (ASX:SVM; AIM:SVML) (the Company or Sovereign) is
pleased to report recent outcomes of downstream testwork on Kasiya's graphite
co-product.
The Kasiya Project (Kasiya) has the potential to be the one of the world's
lowest cost and lowest global warming potential (GWP) sources of natural
graphite. The Kasiya project is the largest natural rutile deposit and one of
the largest flake graphite deposits in the world. Both minerals are critical
to several of the world's economies and decarbonisation targets.
Kasiya has a geological benefit with both natural graphite and rutile hosted
in soft, friable saprolite material at surface that can be mined,
beneficiated, and purified with a considerably lower carbon footprint than
hard-rock operations or synthetic graphite production.
The results of the recent initial downstream testwork conducted by an
independent German industrial mineral specialist demonstrated superior
qualities and excellent suitability as feedstock for use in lithium-ion
batteries.
In 2022, the lithium-ion battery anode market became the biggest end-market
for natural flake graphite. Greater capacity batteries, such as those required
for electric vehicles, are expected to drive significant demand for graphite
over the coming years.
Sovereign's Managing Director Dr Julian Stephens commented:
"The latest graphite downstream testwork confirms the superior crystallinity
and purity of Kasiya's natural graphite. Kasiya will potentially be one of the
lowest cost flake graphite projects in the world and is also estimated to have
one of the lowest global warming potentials of any current and future graphite
projects. Producers and end users of lithium-ion batteries are already closely
monitoring the carbon footprint associated with the raw materials that feed
into battery technology.
"These results bolster Kasiya's competitive advantage, indicating that not
only does the project have the potential to be a dominant rutile supplier, but
also a dominant supplier of graphite suitable for the lithium-ion battery
industry. Kasiya's PFS is progressing well with the Company looking forward to
releasing the outcomes of the study in coming months."
Classification: 2.2 This announcement contains Inside Information
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
Andrew Thomson +61 8 9480 2500
Joint Brokers
Berenberg +44 20 3207 7800
Matthew Armitt
Jennifer Lee
Optiva Securities +44 20 3137 1902
Daniel Ingram
Mariela Jaho
Christian Dennis
KEY OUTCOMES
Downstream testwork was conducted by an independent German industrial mineral
specialist across crystallinity and purity - two key attributes of natural
graphite used for anode feedstock in lithium-ion battery anodes.
Crystallinity
Crystallinity is an indicator of electrical conductivity which affects battery
performance. This result is critical to the usability in the lithium-ion
battery sector as the higher the crystallinity i.e. the more "perfect" the
flakes/crystals, the better the electrical conductivity and battery
performance.
The testwork shows that Kasiya graphite is classed as near perfect, fully
ordered graphite, confirming it should possess the best electrical
conductivity attributes.
Purity
Purity denotes the product's total carbon content and the amount of residual
key impurities including sulphur and iron which are important in anodes.
Purification is achieved via either leaching or heat treatment.
Testwork achieved >99.95% purity which is above the benchmark required for
graphite in lithium-ion batteries. The results also demonstrated very low
sulphur content in this material due to the graphite being hosted in soft
saprolite - a key differential from graphite purified from hard-rock deposits.
TECHNICAL BACKGROUND
Graphitic carbon exhibits a large range of structures and chemical
compositions, from amorphous-like compounds through to crystalline graphite in
high-grade metamorphic belts. Broadly, these reflect the geological setting
and conditions under which the graphite formed. Flake graphite is associated
mostly with high grade metamorphic rocks
(https://www.sciencedirect.com/topics/earth-and-planetary-sciences/metamorphic-rock)
where original organic carbon
(https://www.sciencedirect.com/topics/earth-and-planetary-sciences/organic-carbon)
deposited within sediment was transformed into graphite by pressures
typically exceeding 5 kbar and temperatures above 650 °C.
The widely varying structure and chemistry of graphitic carbon controls the
remarkably diverse range in its physical properties. Natural graphite is a key
component in high-performance refractory linings for steel manufacture,
high-charge capacity anodes for lithium-ion batteries, and a feedstock for
graphene.
Crystallinity
The original paragneiss host rocks at Kasiya have experienced high grade
metamorphism having been heated to above 650°C and subject to very high
pressures above 13kbar. The rocks experienced very slow cooling which has
resulted in growth of coarsely crystalline graphite and rutile.
In graphite, the degree of crystallinity is exhibited by the interlayer
distance between individual graphite layers - denoted d002 when measured in
Raman spectroscopy. Values of d002 of near 3.35 Å are considered fully
ordered or highly crystalline graphite. Kasiya graphite has a measured d002 of
3.348, classifying it as near perfect, fully ordered graphite.
Fully ordered graphite, mostly free of natural defects, such as that from
Kasiya has the best electrical conductivity attributes of all natural graphite
types and thus shows excellent suitability as feedstock for lithium-ion
battery anodes. The other obvious and more easily observed attribute of fully
ordered graphite is the shape, where hexagonal flakes indicate perfect or
near-perfect crystallinity - another attribute of the Kasiya graphite
products.
Purity
Purification of graphite concentrates grading 95-98% C((t)) can be performed
by either heat treatment or reagent leaching. It is desirable to have very low
levels of critical impurities including sulphur and metal ions - specifically
iron in the final product which should also grade +99.95% C((t)). Heat
treatment purification tests on Kasiya graphite have been successful in
achieving high levels of purification up to "four 9s" i.e. 99.995%+ purity,
with very low levels of critical impurities.
For purifying via reagent leaching, hydrofluoric acid (HF) has traditionally
been used as a key reagent. Due to HF's high reactivity and dangerous nature
current leaching test work in the battery anode sector is focusing on reagent
regimes containing no HF. Sovereign has trialled some of these regimes and had
success with caustic bake and sulphuric acid leach stages achieving 99.92%
C((t)) - very close to the 99.95% required for commercial products. Further
optimisation of this reagent regime is planned in order to achieve commercial
purity for lithium-ion battery anode feedstock.
KASIYA'S GWP TO BE AMONGST THE LOWEST IN THE WORLD
The GWP of producing one tonne of flake graphite concentrate at Kasiya
estimated to be 0.2 tonnes of CO2 equivalent emissions (CO2e). Kasiya has the
lowest GWP compared with currently known and planned future natural graphite
projects:
· Up to 60% lower than currently reported GWP of graphite
producers and developers, including suppliers to Tesla Inc.
· 3x less polluting than proposed Tanzanian natural graphite
production from hard rock sources.
· 6x less polluting than current Chinese natural graphite
production which accounts for up to 80% of current global graphite supply.
The cradle-to-gate life cycle assessment (LCA) was carried out by Minviro
comparing current natural graphite production from China which produces almost
80% of the world's natural graphite, and proposed near-term production from
Tanzania, which offers a regional benchmark against Kasiya in Malawi. The LCA
study followed ISO 14067:2008 guidelines and was critically reviewed by a
panel of three independent experts.
A number of graphite producers and explorers/developers have conducted their
own LCAs, with conclusions of a select number being made public. Kasiya's
graphite product currently has the lowest GWP of publicly reported current and
future potential graphite production.
The benchmarking study found that the total GWP of 0.2 tonnes CO(2)e per tonne
of natural flake graphite concentrate produced at Kasiya is significantly
lower than the total GWP per tonne produced in Heilongjiang Province, China
(1.2 tonnes CO(2)e) and the total GWP per tonne produced in Tanzania (0.6
tonnes CO(2)e).
Why is Kasiya's Graphite able to achieve such a low carbon-footprint?
The GWP for Kasiya's flake graphite product was based on the ESS. The
significantly lower GWP for Kasiya graphite is due to the fact that it is
hosted in soft, friable saprolite material which will be mined via hydro
methods (high pressure water monitors) powered by predominantly renewable
energy sources - hydro power from the Malawi grid and on-site solar power.
This is opposed to the production in Heilongjiang Province, China where
hard-rock ore requires drilling, blasting, excavation, trucking, crushing, and
grinding - overall high CO(2)e activities.
NEXT STEPS
Sovereign has further testwork underway as the Company continues to qualify
the graphite product for possible markets. Key activities include:
· Optimisation of process flowsheet to increase the
concentrate grade
· Analysis of purification process to optimise parameters
focusing on achieving the most sustainable outcome
· Micronisation, spheronisation and coating testwork
· Bulk sample generation program
Competent Persons' Statements
The information in this report that relates to Exploration Results is based on
information 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 and unlisted performance rights in Sovereign Metals Limited. 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 report that relates to Metallurgical Results is based
on information compiled by Mr Paul Marcos, a Competent Person who is a member
of the AusIMM. Mr Marcos is an employee of Sovereign Metals Limited and a
holder of ordinary shares and unlisted performance rights in Sovereign Metals
Limited. Mr Marcos 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 Marcos consents to the inclusion in
the report of the matters based on his information in the form and context in
which it appears.
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.
This ASX Announcement has been approved and authorised for release by the Company's Managing Director, Dr Julian Stephens.
To view this announcement in full, including all illustrations and figures,
please refer to
http://www.investi.com.au/api/announcements/svm/fe3830af-843.pdf
(http://www.investi.com.au/api/announcements/svm/fe3830af-843.pdf) .
Appendix 1: JORC Code, 2012 Edition - Table 1
SECTION 1 - SAMPLING TECHNIQUES AND DATA
Criteria JORC Code explanation Commentary
Sampling Techniques Nature and quality of sampling (e.g. cut channels, random chips, or specific Metallurgical Composite Sample: Graphite product test work was completed on a
specialised industry standard measurement tools appropriate to the minerals composited sample from raw primary 1-metre reserve material from the Kasiya
under investigation, such as down hole gamma sondes, or handheld XRF Deposit.
instruments, etc). These examples should not be taken as limiting the broad
meaning of sampling. The sample was a composite of 13 Hand Auger (HA) holes reserve material
drilled in 2020 and 2021.
Samples were selected based on rutile grade, weathering, and location within
pit areas 13, 15 and 16. The weathering units contributed the following
percentages, SOIL/FERP 42%, MOTT 39% and PSAP 19%.
Specifically, the composite sample consisted of selected rutile mineralised
zones from holes, NSHA0004, 0009, 0035, 0055, 0056, 0095, 0119, 0200, 0222,
0224, 0225, 0261 and 0262. These holes are located in the southern area of the
mineralised footprint.
The reserve 1-metre raw samples were used to create a composite sample of mass
circa ~237kg with a grade of 1.16% TGC modelled from the mineral resource
sample assays as a weighted average.
Include reference to measures taken to ensure sample representivity and the Placer Consulting (Placer) Resource Geologists have reviewed Standard
appropriate calibration of any measurement tools or systems used. Operating Procedures (SOPs) for the collection of drill samples and found them
to be fit for purpose.
Drilling and sampling activities are supervised by a suitably qualified
Company geologist who is present at all times. All bulk 1-metre drill samples
are geologically logged by the geologist at the drill site.
Each 1m of sample is dried and riffle-split to generate a total sample weight
of 3kg for analysis, generally at 2 - 5m intervals. This primary sample is
then split again to create a 3kg composite to provide a 1.5kg sample for both
rutile and graphite analyses. The excess material is then stored as reserve.
The primary metallurgical composite sample is considered representative for
this style of mineralisation.
Aspects of the determination of mineralisation that are Material to the Public HA drilling was used to obtain 1-metre samples. The bulk metallurgical sample
Report. In cases where 'industry standard' work has been done this would be was a composite of selected reserve samples from routine resource drilling.
relatively simple (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 Existing rutile exploration results were used to determine the 1-metre
assay'). In other cases more explanation may be required, such as where there intervals suitable to contribute to the 237kg bulk sample composite.
is coarse gold that has inherent sampling problems. Unusual commodities or
mineralisation types (e.g. submarine nodules) may warrant disclosure of
detailed information.
Drilling Techniques Drill type (e.g. core, reverse circulation, open‐hole hammer, rotary air Placer has reviewed SOPs for HA drilling and found them to be fit for purpose.
blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or
standard tube, depth of diamond tails, face‐sampling bit or other type, HA drilling with 75mm diameter enclosed spiral bits (SOS) with 1-metre long
whether core is oriented and if so, by what method, etc). steel rods and with 62mm diameter open spiral bits (SP) with 1-metre 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.
Drill Sample Recovery Method of recording and assessing core and chip sample recoveries and results Samples are assessed visually for recoveries. Overall, recovery is very good.
assessed. Drilling is ceased when recoveries become poor once the water table has been
reached.
Measures taken to maximise sample recovery and ensure representative nature of The Company's trained geologists supervise auger drilling on a 1 team 1
the samples. geologist basis and are responsible for monitoring all aspects of the drilling
and sampling process.
Whether a relationship exists between sample recovery and grade and whether No bias related to preferential loss or gain of different materials has
sample bias may have occurred due to preferential loss/gain of fine/coarse occurred.
material.
Logging Whether core and chip samples have been geologically and geotechnically logged All individual 1-metre auger intervals are geologically logged, recording
to a level of detail to support appropriate Mineral Resource estimation mining relevant
studies and metallurgical studies.
data to a set template using company codes.
Whether logging is qualitative or quantitative in nature. Core (or costean, All logging includes lithological features and estimates of basic mineralogy.
channel, etc.) photography. Logging is generally qualitative.
The total length and percentage of the relevant intersection logged 100% of samples are geologically logged.
Sub-sampling techniques and sample preparation If core, whether cut or sawn and whether quarter, half or all core taken. Not applicable - no core drilling conducted.
If non-core, whether riffled, tube sampled, rotary split, etc. and whether Primary individual 1-metre samples from all HA holes drilled were sun dried
sampled wet or dry. and homogenised. The 1-metre raw sample not used in the generation of a
primary assay composite are stored as reserve.
For all sample types, the nature, quality and appropriateness of the sample Metallurgical Composite Sample: 1-metre intervals selected for the 237kg
preparation technique. metallurgical sample were divided into weathering units.
MOTT and PSAP material were combined and homogenised in preparation for
dispatch to Australian laboratory Intertek for TGC assay.
Per Australian import quarantine requirements ~100kg of the contributing
SOIL/FERP material from within 2m of surface was kept separate to undergo
quarantine heat treatment at Intertek Laboratory on arrival into
Australia.
The two sub samples (SOIL/FERP and MOTT/PSAP) were then dispatched from
Intertek to AML Laboratory (AML). AML sub-sampled and assayed the individual
lithologies prior to combining and homogenising the sample in preparation for
test-work.
Quality control procedures adopted for all sub-sampling stages to maximise The sample preparation techniques and QA/QC protocols are considered
representivity of samples. appropriate for the nature of this test-work.
Measures taken to ensure that the sampling is representative of the in situ The sampling best represents the material in situ.
material collected, including for instance results for field
duplicate/second-half sampling.
Whether sample sizes are appropriate to the grain size of the material being The sample size is considered appropriate for the nature of the test-work.
sampled.
Quality of assay data and laboratory tests The nature, quality and appropriateness of the assaying and laboratory Metallurgical Composite Sample:
procedures used and whether the technique is considered partial or total.
The following workflow was used to generate a pre-concentrate graphite feed at
AML:
· Wet screen at 2mm to remove oversize
· Two stage cyclone separation at a cut size of 45µm to remove
-45µm material
· Pass +45µm -2mm (sand) fraction through Up Current Classifier
(UCC)
· Pass UCC O/F through cyclone at cut point of 45µm
· Pass UCC O/F cyclone U/F (fine) over MG12 Mineral Technologies
Spiral
· Pass UCC U/F (coarse) over MG12 Mineral Technologies Spiral
· Spiral cons are combined for further processing.
Fine and coarse gravity tailing samples contain approximately 75%-80% of the
graphite present in the feed sample. The majority of the graphite lost is
contained in the -45µm fines.
Coarse and fine gravity tailings are sent to ALS for graphite flotation
testwork.
The following workflow at ALS was used to generate a graphite product;
· The gravity tail from AML underwent the following processing
at ALS in two differing flowsheets;
· Flowsheet 1 (ALS tests AM3358 and AM3359)
o Separate coarse and fine rougher graphite flotation
o Separate polishing grind of coarse and fine rougher graphite
concentrate
o Separate cleaner flotation of coarse and fine graphite
o Cleaner concentrate sizing at 180µm
o Regrind of separate +180µm/-180µm fractions
o Separate three stage recleaner flotation of +180µm/-180µm fractions
· Flowsheet 2 (ALS tests AM3360, AM3361, AM3362 and AM3359)
o Combined coarse and fine rougher graphite flotation
o Combined polishing grind of rougher graphite concentrate
o Combined cleaner flotation
o Floatation of cleaner concentrate sizing at 180µm
o regrind of separate +180µm/-180µm fractions
o Separate three stage recleaner flotation of +180µm/-180µm fractions
The grade of the concentrate was 94.3% TGC (ALS). A 506.7 gram sample of this
concentrate was provided to Dorfner Anzaplan for the downstream testwork
For geophysical tools, spectrometers, handheld XRF instruments, etc., the Acceptable levels of accuracy and precision have been established. No handheld
parameters used in determining the analysis including instrument make and methods are used for quantitative determination.
model, reading times, calibrations factors applied and their derivation, etc.
Nature of quality control procedures adopted (e.g. standards, blanks, Accuracy monitoring is achieved through submission of certified reference
duplicate, external laboratory checks) and whether acceptable levels of materials (CRM's).
accuracy (i.e. lack of bias) and precision have been established.
Intertek uses internal CRMs and duplicates and SVM inserts randomized
certified bespoke graphite CRMs at 1 in 20.
Verification of sampling & assaying The verification of significant intersections by either independent or No drilling intersections are being reported.
alternative company personnel.
The use of twinned holes. No twin holes complete.
Documentation of primary data, data entry procedures, data verification, data All data was collected initially on paper logging sheets and codified to the
storage (physical and electronic) protocols. Company's templates. This data was hand entered to spreadsheets and validated
by Company geologists. This data was then imported to a Microsoft Access
Database then validated automatically and manually.
Discuss any adjustment to assay data. No adjustment to assay data has been made.
Location of data points Accuracy and quality of surveys used to locate drill holes (collar and A Trimble R2 Differential GPS was used to pick up the hand auger collars.
down-hole surveys), trenches, mine workings and other locations used in
Mineral Resource estimation. No downhole surveying of auger holes is completed. Given the vertical nature
and shallow depths of the auger holes drill hole deviation is not considered
to significantly affect the downhole location of samples.
Specification of the grid system used. WGS84 UTM Zone 36 South.
Quality and adequacy of topographic control. DGPS pickups are considered to be high quality topographic control measures.
Data spacing & distribution Data spacing for reporting of Exploration Results. Metallurgical Composite Sample: The hand-auger holes contributing to this
metallurgical were selected from pit area, 13, 15 and 16 (as per the Expanded
Scoping Study mine plan) and broadly represent the early years of mining.
It is deemed that these holes should be broadly representative of the
mineralisation style in the general area.
Whether the data spacing and distribution is sufficient to establish the Not applicable, no Mineral Resource or Ore Reserve estimations are covered by
degree of geological and grade continuity appropriate for the Mineral Resource new data in this report.
and Ore Reserve estimation procedure(s) and classifications applied.
Whether sample compositing has been applied. Metallurgical Composite Sample: Raw primary 1-metre sample reserve from 13
hand auger holes drilled for the purpose of mineral exploration have been
composited together to create a circa 237kg sample for metallurgical analysis.
Orientation of data in relation to geological structure Whether the orientation of sampling achieves unbiased sampling of possible No bias attributable to orientation of sampling has been identified.
structures and the extent to which this is known considering the deposit type
If the relationship between the drilling orientation and the orientation of All holes were drilled vertically as the nature of the mineralisation is
key mineralised structures is considered to have introduced a sampling bias, horizontal. No bias attributable to orientation of drilling has been
this should be assessed and reported if material. identified.
Sample security The measures taken to ensure sample security Samples were stored in secure storage from the time of drilling, through
gathering, compositing and analysis. The samples were sealed as soon as site
preparation was completed, and again securely stored during shipment and while
at Australian laboratories.
Audits or reviews The results of any audits or reviews of sampling techniques and data It is considered by the Company that industry best practice methods have been
employed at all stages of the exploration.
SECTION 2 - REPORTING OF EXPLORATION RESULTS
Criteria Explanation Commentary
Mineral tenement & land tenure status Type, reference name/number, location and ownership including agreements or The Company owns 100% of the following Exploration Licences (ELs) and Licence
material issues with third parties such as joint ventures, partnerships, Applications (APLs) under the Mines and Minerals Act 2019, held in the
overriding royalties, native title interests, historical sites, wilderness or Company's wholly-owned, Malawi-registered subsidiaries: EL0561, EL0492,
national park and environment settings. EL0609, EL0582, EL0545, EL0528, EL0657 and APL0404.
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 time of reporting along with any known The tenements are in good standing and no known impediments to exploration or
impediments to obtaining a licence to operate in the area. mining exist.
Exploration done by other parties Acknowledgement and appraisal of exploration by other parties. Sovereign Metals Ltd is a first-mover 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 style of mineralisation The rutile deposit type is considered 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 to the understanding of the exploration All intercepts relating to the Kasiya Deposit have been included in public
results including a tabulation of the following information for all Material releases during each phase of exploration and in this report. Releases
drill holes: easting and northings of the drill hole collar; elevation or RL included all collar and composite data and these can be viewed on the Company
(Reduced Level-elevation above sea level in metres of the drill hole collar); website.
dip and azimuth of the hole; down hole length and interception depth; and hole
length There are no further drill hole results that are considered material to the
understanding of the exploration results. 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 is justified on the basis that the No information has been excluded.
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, weighting averaging techniques, maximum All results reported are of a length-weighted average of in-situ grades. The
and/or minimum grade truncations (e.g. cutting of high-grades) and cut-off resource is reported at a range of bottom cut-off grades in recognition that
grades are usually Material and should be stated. 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.
Where aggregate intercepts incorporate short lengths of high-grade results and No data aggregation was required.
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 reporting of metal equivalent values should be Not applicable
clearly stated.
Relationship between mineralisation widths & intercept lengths These relationships are particularly important in the reporting of Exploration The mineralisation has been released by weathering of the underlying, layered
Results. 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 ~045° in the North
of Kasiya and 360° in the South of Kasiya.
If the geometry of the mineralisation with respect to the drill hole angle is The mineralisation is laterally extensive where the entire weathering profile
known, its nature should be reported. is preserved 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 hole lengths are reported, there should Downhole widths approximate true widths limited to the sample intervals
be a clear statement to this effect (e.g. 'down hole length, true width not applied. Mineralisation remains open at depth and in areas coincident with
known'. 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 scales) and tabulations of intercepts Refer to figures in previous releases. These are accessible on the Company's
should be included for any significant discovery being reported. These should webpage.
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 Exploration Results is not practicable, All results are included in this report and in previous releases. These are
representative reporting of both low and high-grades and/or widths should be accessible on the Company's webpage.
practiced to avoid misleading reporting of exploration results.
Other substantive exploration data Other exploration data, if meaningful and material, should be reported Limited lateritic duricrust has been variably developed at Kasiya, as is
including (but not limited to: geological observations; geophysical survey customary in tropical highland areas subjected to seasonal wet/dry cycles.
results; geochemical survey results; bulk samples - size and method of Lithological logs record drilling refusal in just under 2% of the HA/PT drill
treatment; metallurgical test results; bulk density, groundwater, geotechnical database, No drilling refusal was recorded above the saprock interface by AC
and rock characteristics; potential deleterious or contaminating substances. drilling.
Sample quality (representivity) is established by geostatistical analysis of
comparable sample intervals.
Further work The nature and scale of planned further work (e.g. test for lateral extensions Further AC drilling will allow the definition of a more extensive
or depth extensions or large-scale step-out drilling). saprock-interface basement and should continue to deliver additional resources
below the HA/PT-drilled regions.
A greater understanding of the lithological character and extent of those
basement units, where high-grade (>1%) rutile persists at the saprock
interface, may assist in focussing further resource definition and exploration
targeting.
Further metallurgical assessment is suggested to characterise rutile quality
and establish whether any chemical variability is inherent across the deposit.
Trialling drill definition at a 100m spacing is suggested for Measured
Resource assessment.
Diagrams clearly highlighting the areas of possible extensions, including the Refer to diagrams in previous releases. These are accessible on the Company's
main geological interpretations and future drilling areas, provided this webpage.
information is not commercially sensitive.
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