03:00 Mon 19 Aug 2019
Mkango Resources Ltd - MKANGO PROVIDES UPDATE ON SONGWE AND THAMBANI
Suite 2900
BC V6C 0A3
MKANGO PROVIDES UPDATE ON SONGWE HILL RARE EARTHS PROJECT AND THAMBANI URANIUM-TANTALUM-NIOBIUM PROJECT IN
Songwe
The feasibility study for the Songwe Hill Rare Earths project continues to progress, fully funded by strategic partner,
Mkango is pleased to confirm that the recently shipped 60 tonne bulk rock sample for mineral processing and metallurgical pilot test work studies has now arrived into Fremantle Port in
On
Honourable Binton Kutsaira, Minister of Natural Resources,
Thambani
Mkango's Chief Geologist, Dr
The programme is following up on the previous Mkango exploration results and includes further ground truthing of radiometric anomalies, rock sampling on outcrop, and collection of samples from new trenches. In parallel, Mkango are continuing to evaluate partnership opportunities for the project.
All costs associated with the work programme are being covered out of existing cash resources and further updates will be provided on Thambani in due course.
For more information, please visit www.mkango.ca
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement may have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
About Mkango Resources Limited
Mkango's primary business is exploration for rare earth elements and associated minerals in the Republic of Malawi, a country whose hospitable people have earned it a reputation as "the warm heart of
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. Mkango completed an updated Pre-Feasibility Study for the project in
The main exploration targets in Mkango's remaining two 100% held licences are, in the Thambani licence, uranium, niobium, tantalum and zircon and, in the Chimimbe Hill licence, nickel and cobalt.
For more information, please visit www.mkango.ca
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements (within the meaning of that term under applicable securities laws) with respect to Mkango, its business and the Project. Generally, forward looking statements can be identified by the use of words such as "plans", "expects" or "is expected", "scheduled", "estimates" "intends", "anticipates", "believes", or variations of such words and phrases, or statements that certain actions, events or results "can", "may", "could", "would", "should", "might" or "will", occur or be achieved, or the negative connotations thereof. Forward looking statements in this news release include statements with respect to the global market for products using the rare earth metals the Company is exploring for, completion of the feasibility study and of the transactions contemplated in the agreement with Talaxis, as well as the use of proceeds from the investments into the Company by Talaxis and the timing of such expenditures. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Such factors and risks include, without limiting the foregoing, market demand for the metals and associated downstream products for which Mkango is exploring, researching and developing, the positive results of a feasibility study on the Project, delays in obtaining financing or governmental or stock exchange approvals. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
For further information on Mkango, please contact:
Chief Executive Officer President
@MkangoResources
Blytheweigh
Financial Public Relations
Nominated Adviser and Joint Broker
Alternative Resource Capital
Joint Broker
The
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