Mkango Resources will commence a further exploration at its Thambani uranium project in Malawi, the company has announced.
Malawi – The announcement comes after Mkango Resources and MetalNRG agreed to terminate their non-binding Heads of Terms Agreement announced in April to set out their intention to enter into an earn-in agreement for the Thambani licence.
Thambani exploration exclusive prospecting licence features multiple zones of high-grade uranium, tantalum and niobium, with a number of extensive uranium radiometric anomalies. In parallel, Mkango Resources will continue to evaluate partnership opportunities for the project.
Meanwhile, the feasibility study for the Songwe Hill Rare Earths project continues in parallel, fully funded by strategic partner, Talaxis, a subsidiary of Noble Group.
About Mkango Resources
Mkango Resource's primary business is exploration for rare earth elements and associated minerals in the Malawi. The company holds interests in three exclusive prospecting licenses in the country: Phalombe, Thambani and Chimimbe Hill.
The main exploration target in the 51% held Phalombe licence is the Songwe Hill rare earths deposit. This features carbonatite-hosted rare earth mineralisation and was subject to previous exploration in the late 1980s.
The main exploration targets of the Thambani licence are uranium, niobium, tantalum and zircon and, in the Chimimbe Hill licence, nickel and cobalt.