Mkango Releases Update on Rare Earths and Uranium Projects

Diversified explorer Mkango Resources (TSXV:MKA,LSE:MKA) has released an update on operations at the Songwe Hill rare earths and Thambani uranium projects.

Progress at both Malawi-based sites is advancing well, according to the company. Its primary focus continues to be the Phalombe license at the Songwe Hill rare earths asset.

The critical metals explorer has been developing its 51 percent stake in the project since initiating a prefeasibility study in 2015.

Currently, there is a feasibility study underway at Songwe Hill. This phase is being funded by Talaxis, a subsidiary of Noble Group (OTC Pink:NOBGF).

In addition to feasibility activities, Mkango recently shipped a 60 tonne bulk rock sample to Western Australia for mineral processing and metallurgical pilot test work studies.

The company is also working to optimize the mineral processing flowsheet at Songwe.

“We believe that the Songwe rare earths project will be transformational for the nation of Malawi, enabling it to become an important sustainable producer of rare earth elements which are so necessary for the efficient future electrification of transport systems and renewable energy such as direct drive wind turbines, as well as many other hi-tech applications,” noted Mkango President Alexander Lemon.

At Mkango’s other Malawi-based project, Thambani, a detailed exploration work program is currently being conducted by a team of five geologists.

The identified resource at Thambani contains uranium, as well as tantalum and niobium, which are primarily found in coltan.

The exploratory study is following up on previous exploration results, and includes further ground surveying and sampling, as well as the collection of test material from new trenches and target areas.

As with Songwe Hill, all costs associated with this exploration phase have been fully covered. The miner is using existing cash resources to pay for the work at the uranium project.

Mkango is also evaluating potential partnership opportunities for Thambani.

Shares of Mkango were down 4.16 percent on Monday (August 19), trading at C$0.11.

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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.