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Sovereign Metals updates Malingunde graphite resources on positive metallurgy

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Sovereign Metals updates Malingunde graphite resources on positive metallurgy

Sovereign Metals Ltd. completed an updated resource estimate for its Malingunde graphite property in Malawi after recent metallurgical work indicated that a blend of saprock can be processed along with very soft saprolite material, providing access to new ore.

The blended saprolite and saprock material at Malingunde is not expected to require primary crushing or grinding, indicating reduced processing costs.

The company said June 12 that it plans to accelerate work on a pre-feasibility study on the proposed development, with metallurgical testing ongoing.

"The ability to process a blend of saprock along with the very soft saprolite allows an approximate 60% increase in high-grade, low-cost material that Sovereign will consider as part of the Malingunde pre-feasibility study," Sovereign Metals' managing director, Julian Stephens, said.

At a cutoff grade of 4.0% total graphitic carbon, or TGC, Malingunde hosts measured, indicated and inferred resources totaling 45.7 million tonnes grading 7.2% TGC. The resource includes a higher-grade zone of 14.5 million tonnes grading 9.7% TGC, using a 7.5% TGC cutoff, which will be the focus of pre-feasibility analysis.

The update also incorporates data from about 6,000 meters of aircore drilling completed in 2017, as well as a new estimate for the Msinja deposit located 1.5 kilometers along strike to the southeast of the main deposit.

Sovereign Metals noted that 88% of the high-grade component is classified as measured and indicated resources.

A mid-2017 scoping study on Malingunde defined a 17-year mining operation with development costs estimated at US$29 million.