Mkango Resources Share News (MKA)

(Sharecast News) - Mkango Resources updated the market on the Songwe Hill rare earths project and the Thambani uranium-tantalum-niobium project in Malawi on Monday, reporting that the feasibility study at Songwe Hill was progressing, fully-funded by its strategic partner Talaxis - a Noble Group subsidiary.
The AIM-traded company confirmed that the recently-shipped 60 tonne bulk rock sample for mineral processing and metallurgical pilot test work studies had now arrived into Fremantle Port in Western Australia.

Optimisation of the mineral processing flowsheet was said to be progressing "well", with the board saying it "looked forward" to updating shareholders further in due course.

Additionally, Mkango said that on 7 August to welcomed the recently-appointed Honourable Minister of Natural Resources, Energy and Mining, the Binton Kutsaira, Deputy Minister Mungasulwa Mwambande and Chief Director Oliver Kambambe, leading a large government delegation visiting the Songwe Hill rare earths project and local corporate social responsibility initiatives.

"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," said Mkango Resources president Alexander Lemon.

"At the same time [it will] empower local communities and validate Malawi's credentials as one of Africa's premier investment destinations.

"We are very appreciative of the support received from the Government of Malawi and all stakeholders as we develop the project through its Definitive Feasibility Study."

Meanwhile, at the Thambani uranium-tantalum-niobium project, Mkango said its chief geologist Dr Paul Armitage and a team of five geologists with logistical support were currently carrying out a detailed exploration work programme in the exclusive prospecting license, which featured multiple zones of nepheline-syenite-hosted uranium, tantalum and niobium mineralisation, with a number of "extensive" uranium radiometric anomalies.

The company said the programme was following up on the previous Mkango exploration results, and included further ground truthing of radiometric anomalies, rock sampling on outcrop, and collection of samples from new trenches.

In parallel, Mkango said it was continuing to evaluate partnership opportunities for the project.

All costs associated with the work programme were being covered out of existing cash resources, with the board promising further updates on Thambani in due course.