REG - Sovereign Metals Ltd - Mining Trials Conclude Successfully

Sovereign MetalsAnnouncement

13/11/2024 07:15

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RNS Number : 9996L  Sovereign Metals Limited  13 November 2024

NEWS RELEASE I 13 NOVEMBER 2024

MINING TRIALS CONCLUDE SUCCESSFULLY

 ·         Test mining at Kasiya has successfully concluded following completion of
           hydraulic and dry mining trials
 ·         Mining trials have confirmed that soft, friable Kasiya orebody can be
           efficiently mined utilising various mining methods
 ·         Fraser Alexander, a global industry leader in hydraulic mining, conducted the
           trial which commenced in August
 ·         The dry mining trial confirmed Kasiya can be efficiently mined to depth using
           standard mobile excavators and trucks
 ·         The Pilot Phase program continues to progress with oversight from
           Sovereign-Rio Tinto Technical Committee with land rehabilitation now underway,
           including backfilling of the test pit

Sovereign Metals Limited (ASX:SVM, AIM:SVML, OTCQX:SVMLF) (Sovereign or the
Company) is pleased to announce that it has successfully completed the mining
trials stage of its Pilot Mining and Land Rehabilitation Program (Pilot Phase)
at the Kasiya Rutile-Graphite Project in Malawi (Kasiya).

 

Hydraulic mining trials at Kasiya were successfully concluded as part of the
Kasiya Optimisation Study. Prior to the hydraulic mining trials, a dry mining
trial successfully excavated a test pit to a depth of 20 metres. The mining
trials confirm that the soft, friable Kasiya ore can be efficiently mined.

 

Managing Director and CEO, Frank Eagar commented: "I am pleased with the
results of the mining trials at the test pit and now look forward to the
rehabilitation demonstration stage, with backfilling of the pit already
underway. Our findings from this Pilot Phase are constantly improving our
understanding of Kasiya and how to optimise operations at this genuine Tier 1
project."

 

Following the conclusion of mining trials, land rehabilitation demonstrations
are now underway commencing with the backfilling of the test pit. The test
pit, which was excavated using conventional dry mining techniques and a simple
mobile excavator fleet, covered an area of 120 metres by 110 metres and was
mined to a depth of 20 metres through the weathered ore at Kasiya. Mined
material is being placed back into the pit and all areas will be graded. The
backfilling stage is expected to conclude in December 2024.

 

As part of the Pilot Phase, the Company has constructed small rehabilitation
demonstration pits that will be used to demonstrate multiple rehabilitation
processes. Sovereign's objective is to restore land after mining to conditions
that achieve the same or better agricultural yields than prior to mining
operations.

 

The Pilot Phase will demonstrate to local communities the successful
rehabilitation of land for agricultural use post-mining. Results will also
allow Sovereign to determine optimal approaches, providing critical
information for Kasiya's Environmental and Social Impact Assessment.

 

Sovereign remains focused on becoming a leading global supplier to the
titanium and graphite industries. Kasiya is the world's largest natural rutile
deposit - the purest, highest-grade naturally occurring titanium feedstock -
and the world's second-largest flake graphite deposit - a battery mineral
essential for the energy transition.

Figure 1: Hydraulic mining of Kasiya test pit

Figure 2: Water monitor demonstrating hydraulic mining of Kasiya material

Figures 3 & 4: Test pit during hydro-mining trials (above) and aerial view
of test pit being backfilled

 Enquires

 Frank Eagar, Managing Director & CEO      Sapan Ghai, CCO

 South Africa / Malawi                     London

 +27 21 065 1890                           +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 Brokers
 Stifel                                     +44 20 7710 7600
 Varun Talwar
 Ashton Clanfield

 Berenberg                                  +44 20 3207 7800
 Matthew Armitt
 Jennifer Lee

 Buchanan                                   + 44 20 7466 5000

 

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.

 

 

 

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