Sovereign Metals Limited (“Sovereign”) (ASX: SVM) is working on a new and exciting rutile opportunity in Malawi, in south-eastern Africa.
Natural rutile is the highest purity titanium source and it’s mainly used to make pigment for paints, cosmetics, plastics and paper. The global supply of rutile is in structural deficit with mines maturating, grades declining and a general lack of new rutile-rich deposits to fill the gap. Natural rutile is the preferred source of titanium dioxide over higher energy and carbon intensive ‘upgraded’ sources like synthetic rutile and titanium slag with a current spot price over US$1,200.
Sovereign has made a high-grade and very large rutile discovery, Kasiya.
Kasiya has a current mineralised footprint of over 16km strike with widths up to 6km and remains open in a number of directions, with high-grade rutile mineralisation occurring from surface. Sovereign is drilling for maiden JORC Mineral Resource Estimate (MRE).
In addition to the flagship Kasiya, the Company has identified numerous other saprolite-hosted rutile prospects and targets. The Bua Channel is the Company’s high-grade, rutile dominant, sand-hosted placer prospect along a 50km length of a fluvial channel system. Drilling in the southern part of the Bua Channel over ~8km confirmed excellent rutile grades with accessory ilmenite.
This potentially globally significant rutile province is located in Malawi, a stable, transparent jurisdiction. Malawi is increasingly attracting international investment with substantial potential for mining to contribute to the country’s economic growth and development. Central Malawi boasts excellent existing infrastructure including grid power and an excellent sealed road network. The Project is strategically located in close-proximity to the capital city of Lilongwe, providing access to a skilled workforce and mining and industrial services. The location provides access to the operating Nacala Rail Corridor linking to the Indian Ocean port of Nacala in Mozambique, providing a low-cost transport solution and access to major international markets.
A new rutile province
MALAWI – excellent infrastructure