REG - Sovereign Metals Ltd - DFS Progressing with Completion of Geotech Program

Sovereign MetalsAnnouncement

23/07/2025 07:00

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RNS Number : 1924S  Sovereign Metals Limited  23 July 2025

NEWS RELEASE I 23 JULY 2025

DFS PROGRESSING WELL WITH COMPLETION OF GEOTECHNICAL PROGRAM

·    Extensive DFS-level geotechnical investigations completed across all
critical infrastructure locations

·    Over 400 individual tests conducted covering mining infrastructure,
TSF and raw water dam

·    Preliminary findings confirm favourable subsurface conditions aligned
with regional geology

·  Consistent stratigraphy and suitable subsurface conditions to enable
more standardised foundation designs and construction approaches across
infrastructure areas

·   Final results will support detailed engineering design and de-risk
infrastructure planning as part of the ongoing Kasiya DFS

·  Programs were designed and conducted with oversight from the
Sovereign-Rio Tinto Technical Committee

 

Sovereign Metals Limited (ASX:SVM; AIM:SVML; OTCQX: SVMLF) (Sovereign or the
Company) is pleased to announce the successful completion of comprehensive
feasibility-level geotechnical fieldwork programs at its Kasiya Rutile
Graphite Project (Kasiya or the Project) in Malawi.

The extensive programs, conducted by ARQ Geotech (Pty) Ltd and with oversight
from the Sovereign-Rio Tinto Technical Committee, represent a critical
milestone in the Project's ongoing Definitive Feasibility Study (DFS) and
demonstrate continued momentum toward advancing the genuine Tier-1 Kasiya
project.

The geotechnical investigations provide essential subsurface data that will
inform detailed engineering design and infrastructure planning across major
Project components. The comprehensive scope covered critical infrastructure
areas including mining operations, process plants, tailings storage facility
(TSF), and raw water storage dam - representing the foundational elements
required for the Project's development.

Managing Director and CEO Frank Eagar commented: "Completing these
comprehensive infield geotechnical programs marks another significant
milestone towards the completion of our DFS and another step in our systematic
approach towards the development of Kasiya."

Understanding subsurface conditions is essential for predicting interactions
between in-situ geological strata and the overlying infrastructure. The
geotechnical data will inform the design of foundations, earthworks, slope
stability measures, and material suitability; ultimately contributing to safe,
efficient, and cost-effective development.

The fieldwork programs employed a sophisticated combination of near-surface
and deep investigation techniques across the project site, with over 400
individual tests conducted to characterise soil and rock profiles
comprehensively.

Geotechnical Programs Summary

The owner's team conducted various geotechnical programs and investigations
essential for understanding the physical properties of the ground for proposed
infrastructure.  The programs and investigations focused on key
infrastructure areas critical to mine development and operations:

·    Mining Infrastructure: Main access roads, northern process plant,
contractors' and permanent accommodation camps, railway spur, electrical
substation, power plant, and support facilities,

·    TSF, and

·    Raw Water Dam.

Activities focused on characterising soil and rock profiles. Field testing
included both general and advanced techniques:

·    Rotary Core Drilling with standard penetration testing,

·    Cone Penetration Test with pore pressure measurements (CPTu),

·    Dynamic Probe Super Heavy (DPSH),

·    Geophysics: active seismic activities such as multi-channel analysis
of surface wave (MASW),

·    Spiral Auger Drilling,

·    Dynamic Cone Penetrometer (DCP),

·    Trenches, and

·    Test pitting.

In parallel with the field testing, representative soil and rock samples, both
disturbed and undisturbed, were collected throughout the investigation for
laboratory analysis.

 Table 1: Key Statistics per Development Area
 Development Area       Investigation Method  Number of Tests  Approximate Total Depth Investigated (m)
 Mining Infrastructure  Test Pits             112              560
                        DCP                   92               92
                        Rotary Core Drilling  18               450
                        DPSH                  11               165
 TSF                    Test Pits             51               255
                        Rotary Core Drilling  10               250
                        CPTu                  22               310
                        MASW                  15               13,000
 Raw Water Dam          Trenches              6                720
                        Auger Drilling        41               248
                        Rotary Core Drilling  29               435

PRELIMINARY FINDINGS

Initial results indicate highly favourable subsurface conditions that
correlate well with the expected regional geology. The material profiles
encountered across all infrastructure sites show generally consistent
stratigraphy comprising the following:

·    Surface topsoil horizon,

·    Underlying transported horizon of variable origin (aeolian,
colluvium, and alluvium),

·    Reworked residual gneiss transitioning to residual gneiss with depth,

·    Deeply weathered soil profile consistently observed across the areas,

·    The weathered soil profile transitioning to extremely soft to very
soft rock, and ultimately into hard rock at greater depths, and

·    Subsurface materials are generally derived from gneissic bedrock.

Consistent stratigraphy and suitable subsurface conditions to enable more
standardised foundation designs and construction approaches across
infrastructure areas, potentially reducing engineering complexity and
construction costs.

Significantly, ferricrete identified within the transported horizon has been
assessed as potentially reusable as engineered fill material.

The completion of these geotechnical programs represents continued strong
execution of the DFS workstreams. The findings will be integrated into
detailed engineering design work to optimise infrastructure placement,
foundation design, and construction methodologies.

Figure 1: CPTu rig

Figure 2: MASW Testing

Figure 3: Auger Drilling

Figure 4: Geotechnical diamond drilling

 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 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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