Mkango Resources Ltd. (AIM:TSXV: MKA) May 2018 Company Presentation

 

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.

The main exploration target in the 80% held Phalombe licence is the Songwe Hill rare earths’ deposit, which features carbonatite hosted rare earth mineralisation and was subject to previous exploration in the late 1980s. Mkango completed an updated Pre-feasibility Study for the project in November 2015 and is currently commencing a Feasibility Study.

 

 

Songwe Hill Rare Earths Deposit

Following receipt of the £6 million investment by Talaxis Limited (“Talaxis”) in January 2018, the initial phases of the feasibility study for Songwe have commenced.

Preparation is well advanced for the largest diamond drilling programme to date at Songwe. Drilling is targeted to commence within the next month, once all drill roads and pads are completed.

·     The programme is for a minimum of 5,000 metres and will be focused on infill, step-out and geotechnical drilling, the latter for the purposes of mine design.

·     The drill plan is based on a refined geological model developed in-house by Mkango’s technical team in consultation with The MSA Group and Bara Consulting, who have been appointed resource and mining consultants, respectively.

·     Cartwright Drilling has been appointed as drilling contractor, with a combined Canadian and Malawian drilling team to operate two diamond drill rigs both running 24 hours.

·     Over 50 drill pads are being constructed for the drill programme, as well as an enlarged camp to accommodate the larger team versus previous drill programmes.

·     Mkango has run two successful drill programmes at Songwe in 2011 and 2012, culminating in a maiden Mineral Resource Estimate, also previously working with Cartwright Drilling, the MSA Group and Bara Consulting.

·     Mkango is targeting completion of an updated Mineral Resource Estimate by the end of 2018.

 


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