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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: 6.05 GBX

LSE:MKA
Market: LSE
Market Cap: £8.05 m
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