Mkango Resources Ltd (LON:MKA, CVE:MKA) chief executive William Dawes said the group was 'excited' about the results of a recent airborne survey over two thirds of its 137 sq km Thambani licence in Malawi.
The work was part of a US$25 million World Bank funded nationwide airborne programme flown at 250 metre spacing.
Dawes said it further confirmed "significant potential for uranium, niobium, tantalum and other minerals in the Thambani licence".
"This area benefits from good infrastructure, including roads, power and a new railway line passing through the south of the licence area. To date, the market has yet to recognize Thambani's potential and we continue to look at opportunities to maximise value."
Among highlights, the survey confirmed a previously-identified uranium anomaly measuring at least 3km by 1.5 km, along the western flank of the Thambani East ridge.
It also found a number of magnetic anomalies not previously identified, including a 2.3 km linear magnetic high anomaly along the Thambani East Ridge and a 1 km by 0.5 km magnetic high anomaly to the north.
These areas require further investigation to determine their significance and establish whether they are related to mineralisation or geological features, Mkango said.