Mkango Resources (CVE:MKA) unveiled Monday drill results from a stage 2 program at its Songwe rare earth project in Malawi.
Highlights of the five near-surface holes announced today include
15.3 metres of 1.9% total rare earth oxides (TREO) including yttrium,
and 58.4 metres of 1.6% TREO in hole PXO17b, including 20.5 metres
grading 2.0% TREO.
Hole PX019 returned 70.2 metres grading 1.1%
TREO, and hole PX020 intersected 95.8 metres of 1.7% TREO, 48.0 metres
of 1.5% TREO and 132 metres grading 1.3% TREO.
A total of 38
holes were completed in stages 1 and 2 for a total of roughly 6,850
metres, the company said in a statement. The results for the remaining
10 holes from stage 2 drilling will be released as soon as they are
Other notable results announced today include hole
PXO21, which hit 100.8 metres grading 1.7% TREO, 54 metres of 1.6% TREO
and 26.5 metres grading 1.4% TREO.
In addition, hole PX022b
returned a whopping 332.7 metres of 1.4% TREO, including 82.5 metres
grading 1.6% TREO and 27.0 metres at 1.8% TREO.
The company said
that once all assay results are received, South Africa-based MSA Group
will start an NI 43-101 compliant resource estimate on the project.
holes so far from the stage 2 program have intersected broad zones of
rare earth mineralization, Mkango noted, including zones of "elevated
heavy rare earth enrichment."
The consistency of results to date is also "very encouraging", the junior miner added.
Songwe, rare earth mineralization occurs at surface in broad
outcropping zones of carbonatite on the northern slopes of Songwe hill
and extends to a vertical depth of at least 350 metres.
is open to depth and along strike, the company said, and there are
known areas of additional carbonatite exposure within the Songwe vent
system - meaning further exploration upside potential.
project is also in an area of southern Malawi that is in the midst of
ongoing rail, road and other infrastructure developments.
Songwe Hill rare earth project is located within the 100 per cent owned
Phalombe prospecting licence covering an area of 1,283 square
kilometres in southeast Malawi. It is accessible by road from Zomba, the
former capital, and Blantyre, the principal commercial town of Malawi.
month, the company also announced drill results from its stage 2
program, including hole PX006, which encountered 1.7% TREO over 30.4
metres on a vertical hole that tested an area to the west of main
Mkango says heavy rare earths together with
yttrium comprise about 7-8 per cent of the total rare earths at Songwe
but the value contribution is much higher.
The main rare earths it is targeting are neodymium, dysprosium,
europium, terbium and yttrium, which it believes have the best long term
These metals are used to produce powerful magnets, a market forecast
to experience high demand growth in coming years as iPads, hybrid cars,
and other high tech products rely on these these rare earth elements.