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Mkango Resources Ltd

Mkango Resources sees highest rare earth grades to date at Songwe Hill

"This rounds off what has been a highly successful drill programme with another excellent set of results,” said William Dawes, Mkango chief executive.

miners
One hole saw grades of 4.2% TREO

Mkango Resources Ltd (LON:MKA, CVE:MKA) told investors that the final batch of drill results from the 2018 drill programme, at the Songwe Hill rare earths project, has unearthed the highest grades to date.

The company, in a statement, said that the results of the majority of the remaining holes (19 of 21) from the 10,900 metre drill programme saw significant zones of rare earths mineralisation grading above 1% total rare earth oxides (TREO).

READ: Mkango appears to trade at a significant discount

Drill hole ‘PX112’ was the highlight with 3.3% TREO across just over 100 metres, including a higher grade 20.5 metre section which measured 4.2% TREO.

With the final batch of results now in, the company is advancing efforts to have a new resource estimate produced for Songwe Hill.

"This rounds off what has been a highly successful drill programme with another excellent set of results,” said William Dawes, Mkango chief executive.

“Metallurgical optimisation and work relating to the Environmental, Social and Health Impact Assessment is also progressing well and we look forward to updating the market as we progress the feasibility study through 2019, starting with the resource update in the first quarter."

Quick facts: Mkango Resources Ltd

Price: £0.06

Market: LSE
Market Cap: £8.51 m
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