William Dawes, Chief Executive Officer, commented: “We are very encouraged by the continuing consistency of results and intersections outside the area of the previous mineral resource estimate, identifying new zones of mineralisation. The updated resource estimate will incorporate the results of this latest 10,900-metre drill programme and will form the basis of an updated and optimised mine plan for incorporation into the ongoing feasibility study. We look forward to announcing results from the remaining 66 drill holes totalling 8,396 m.”
London / Calgary: September 20, 2018 – Mkango Resources Ltd. (AIM / TSXV: MKA) (the “Company” or “Mkango”) is pleased to announce results for a further nine holes from the recently completed 10,900 metre diamond drill programme at the Songwe Hill Rare Earths Project (“Songwe”) in Malawi. The drilling programme is a key component of the ongoing initial phases of the Feasibility Study for Songwe, which is fully funded following investments by Mkango’s strategic partner, Talaxis Limited, in January 2018.
Highlights from the results include the following:
TREO: total rare earth oxides based on total La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, Y2O3. These intersections are reported as downhole widths and do not necessarily represent true thicknesses and attitude of the mineralised zones, the estimation of which will require further refining of the geological model.
· The drill programme comprised infill drilling to confirm and upgrade the existing Indicated and Inferred Mineral Resource Estimates, testing extensions to the mineralisation, and geotechnical drilling.
· All nine drill holes intersected rare earth mineralisation, with the table above highlighting selected intersections each averaging 1% TREO or more. The next batch of results from a further eight drill holes will be announced in coming weeks.
· Drill holes PX069, PX074, PX075 and PX079 were step-out drill holes, focused on testing north-west extensions of the mineralisation. These holes are located between previously announced drill hole PX082 and the area drilled in the stage 1 and 2 drill programmes, the first time this zone has been drilled; therefore these initial results are very encouraging.
· PX099 was collared to the east of mapped carbonatite outcrop, and successfully targeted the eastern contact of the mineralisation at depth.
· The remaining drill holes were focused on infill drilling, notably PX068 located on the north-west margin of the previously delineated mineral resource estimate.
A schematic geological map illustrating the location of the drill hole collars and estimated drill hole traces is available on the Company’s website (www.mkango.ca).
The breakdown of TREO values reported above are as follows:
Scientific and technical information contained in this release including sampling, analytical, and test data underlying the information has been approved and verified by Dr. Scott Swinden PGeo of Swinden Geoscience Consultants Ltd, who is a “Qualified Person” in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Sample preparation and analytical work for the drilling and channel sampling programmes are being provided by Intertek-Genalysis Laboratories (Perth, Australia) employing ICP-MS techniques suitable for rare earth element (REE) analyses and following strict internal QAQC procedures inserting duplicates, blanks and standards. Internal Laboratory QAQC was also completed to include blanks, standards and duplicates.
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