logo-loader
Mkango Resources Ltd

Mkango awarded new prospecting licence in Malawi

The Mchinji licence has been granted for the exploration of nickel, cobalt, gold, base metals, graphite, platinum group metals, ilmenite, vanadium, chrome, uranium, rare earth elements and other minerals.

Nickel and cobalt
The licence is initially awarded for a three-year term

Mkango Resources Ltd (LON:MKA, CVE:MKA) has been granted a new exclusive prospecting licence covering an area in the Mchinji district, central Malawi.

The licence, covering an area of 868.69 square kilometres, is adjacent to licences with known mineral potential including Mkango’s own Chimimbe Hill nickel-cobalt licence to the south.

READ Mkango Resources set for new exploration at Thambani project

Mkango said it would evaluate all historical data over the Mchinji licence area for exploration targets in the context of geophysical data produced by a countrywide airborne survey completed by the World Bank in 2016. Exploration will focus on nickel-cobalt, gold, base metals, and graphite.

"We are commencing a full historical data review to identify exploration targets, and look forward to updating shareholders on this new licence in due course," said Alexander Lemon, the president of Mkango.

Quick facts: Mkango Resources Ltd

Price: £0.07

Market: LSE
Market Cap: £8.65 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Mkango Resources Ltd named herein, including the promotion by the Company of Mkango Resources Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Rare Earths at the fore as US/China trade spat intensifies

Mining Capital's Alastair Ford talks Rare Earths this week after China threatened to halt supplies due to the trade war with the US. China accounts for between 70% and 80% of global supply and is a key price setter.

on 10/6/19

2 min read