Malawi : Two more years for Mkango on rare earth in Thambani

Publié le mercredi 23 août 2017, par

Mkango Resources Ltd received two more years for Thambani exploration licence mainly focused on rare earth elements and associated minerals in southwest Malawi.
On 23 August, it reported is has been granted by the government of Malawi a further two year renewal, from 8 September this year, for exclusive exploration licence, the Thambani Licence.

Regarding the main exploration targets such as uranium, niobium, tantalum, zircon and other associated minerals in the licence, the AIM and TSXV listed company is evaluating strategic options for Thambani.
The strategy includes opportunities to joint venture or spin-off the project, and other potential avenues to create value.
Results of recent exploration at Thambani were disclosed in May 2017 and showed high grade uranium, tantalum and niobium values.
They range up to 3.3 % U3O8, 1.9 % Ta2O5 and 6.0 % Nb2O5, while 35 out of the 85 rock grab samples graded above 500ppm U3O8 and 24 graded above 1,000ppm U3O8.

Located in the Mwanza District, the Thambani exploration licence was originally granted by the Malawi Minister of Natural Resources, Energy and Environment on September 10, 2010 in respect of an area of 468km2. In September 2013 and September 2015, the Government of Malawi granted further two year renewals for the licence . At the second renewal the Company requested a reduction in the licence size to the current area of 136.9km2.
A systematic ground radiometric survey completed previously revealed two distinct uranium anomalies occurring across the Thambani East and West Ridges.
These were a strong uranium anomaly of approximately 3km by 1.5km occurring along the length of the Thambani East ridge, and a second uranium anomaly measuring approximately 1.5km by 0.4km occurring on the West Ridge along the western contact of the nepheline-bearing syenite body with the biotite-hornblende gneisses.

In Malawi, Mkango Resources holds, through its wholly owned subsidiary Lancaster Exploration Limited, a 100% interest in the two exclusive prospecting Phalombe licence and Thambani licence.