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Mkango Resources Ltd

Mkango completes major drilling programme at Songwe Hill

Results from Mkango's drilling campaign will go towards the completion of a feasibility study

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Workers at Songwe Hill

Mkango Resources Ltd (LON:MKA)(CVE:MKA) shares rose on Tuesday as the miner announced that it has completed a major drilling programme at the Songwe Hill rare-earths project in Malawi. The drilling programme totalled 10,891 metres and comprised 91 drill holes to a maximum depth of 220 metres. 

The drilling programme is a key component of the ongoing initial phases of the Feasibility Study for Songwe.

WATCH: Mkango reports 'excellent first set of results' from drilling at Songwe Hill

Highlights from the results include 51.6 metres grading 1.9% total rare earth oxides, 161 metres grading 1.3 TREO and 43.4 metres grading 1.6% TREO.

 "We are very pleased to announce another excellent set of results from the recently completed major drill programme at Songwe, which is an integral part of the ongoing feasibility study,” said chief executive William Dawes.

“This is the largest drill programme to date in the history of the project and its successful completion is a great credit to the strong international and Malawian team on the ground. We look forward to announcing results from the remaining 75 drill holes totalling 9,259 metres."

In mid-morning trading, Mkango shares were 4.2% higher at 8.75p. 

 -- Adds share price --

 

 

Quick facts: Mkango Resources Ltd

Price: £0.07

Market: LSE
Market Cap: £9.44 m
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