Alex Lemon answers shareholders questions and gives us an update on major diamond drilling programme that commenced in June 2018 at the Songwe Hill Rare Earths Project ("Songwe") in Malawi.
The drilling programme is a key component of the Feasibility Study for Songwe, which is being fully funded by Talaxis Limited ("Talaxis"), a subsidiary of Noble Group Ltd.
The drilling programme is for a minimum of 5,000 metres and will be focused on infill, step-out and geotechnical drilling. Over 50 drill pads have been constructed along with new access roads and enlarged camp infrastructure.
Mkango completed two successful drilling programmes at Songwe in 2011 and 2012, totalling approximately 6,850 metres and culminating in a maiden Mineral Resource Estimate. Mkango is targeting completion of an updated Mineral Resource Estimate by the end of 2018.
On Mkango publishing an NI 43-101 technical report in relation to the updated Mineral Resource Estimate, Talaxis will invest a further £7 million to fund completion of the Feasibility Study for Songwe.
About Mkango Resources Limited
Mkango's primary business is the exploration for rare earth elements and associated minerals in the Republic of Malawi, a country whose hospitable people have earned it a reputation as "the warm heart of Africa". The Company holds interests in three exclusive prospecting licenses in Malawi, the Phalombe licence, the Thambani licence and the Chimimbe Hill licence.