Mkango Resources Ltd (LON:MKA) has hit high-grade rare earths across significant widths at the Songwe Hill project in Malawi.
Among the highlights from the first eight holes were 147.2 metres grading 1.6% total rare earth oxides (TREO) and 91 metres grading 1.5% TREO.
READ: Mkango Resources on 'clearly defined pathway' to production with drilling at Songwe Hill underway
So far 944 metres have been drilled of a planned 10,000-metre programme at Songwe Hill.
The drilling programme is a key component of the ongoing Feasibility Study for Songwe.
“These are an excellent first set of results from the current programme and we look forward to announcing results from the remaining approximately 75 drill holes as they become available,” said chief executive William Dawes.
“The drill programme and planned resource update are fully funded following investments by Talaxis Limited totalling £6 million in January 2018. Talaxis will invest a further £7 million to fund completion of the feasibility study for Songwe on Mkango publishing an NI 43-101 technical report in relation to the resource update."