Mkango Resources Ltd (LON:MKA) has released the results of a 45 drill hole campaign from its Songwe Hill Rare Earths project in Malawi.
The AIM-listed exploration firm said the drilling programme was a key component of the ongoing initial phases of its feasibility study for Songwe.
READ: Mkango Resources receives more encouraging assays from drilling at Songwe Hill
Mkango added that 39 of the holes had intersected “significant zones of rare earths mineralisation” grading above 1% total rare earth oxides (TREO).
Highlights from the results included:
• PX056 - 114.8m grading 1.6% TREO (60.7 - 175.5m) including 30.0m grading 2.0% TREO (135.0 - 165.0m). Inclined hole (60 degrees west)
• PX059 - 63.0m grading 1.7% TREO (6.0 - 69.0m), including 23.0m grading 2.3% TREO (7.0 - 30.0m), and 15.4m grading 1.6% TREO (128.0 - 143.4m). Inclined hole (60 degrees west)
• PX073 - 67.1m grading 1.6% TREO (8.8 - 75.9m) including 25.2m grading 2.0% TREO (45.0 - 70.2m). Inclined hole (60 degrees west)
• PX076 - 40.2m grading 1.8% TREO (60.4 - 100.7m) including 20.0m grading 2.4% TREO (60.4 - 80.4m). Inclined hole (60 degrees west)
• PX077 - 51.9m grading 1.7% TREO (26.2 - 78.0m). Inclined hole (60 degrees west)
• PX090 - 25.7m grading 3.9% TREO (39.5 - 65.2m). Inclined hole (60 degrees west)
• PX098 - 65.0m grading 1.7% TREO (1.1 - 66.0m) and 13.1m grading 1.2% TREO (115.0 - 128.1m). Inclined hole (60 degrees south)
• PX103 - 165.2m grading 1.6% TREO (2.6 - 167.8m). Inclined hole (60 degrees east)
• PX107 - 91.3m grading 1.3% TREO (23.0 - 114.2m) including 32.2m grading 1.9% TREO (82.0 - 114.2m). Inclined hole (60 degrees east)
• PX108 - 45.8m grading 1.4% TREO (8.2 - 54.0m) and 57.3m grading 1.7% TREO (76.9 - 134.2m). Inclined hole (60 degrees east)
• PX113 - 51.1m grading 2.2% TREO (4.7 - 55.8m). Inclined hole (50 degrees north)
William Dawes, chief executive of Mkango, said the results demonstrated “broad mineralised zones with continuity of mineralisation” which would underpin a resource update.
He added that the feasibility study for Songwe would be the main focus for 2019, with Mkango’s strategic partner Talaxis to invest £7mln following the resource update and the publication of the NI 43-101 technical report in the first quarter of next year.