viewMkango Resources Ltd

Mkango initiates major exploration campaign for rutile on its extensive ground in Malawi

Mkango's main asset is the Songwe Hill rare earths project

Mkango Resources Ltd -

Mkango Resources Ltd (LON:MKA)(CVE:MKA) has commenced an extensive hand-auger drilling and soil sampling programme to identify rutile prospects within its 869 square kilometre Mchinji licence in Malawi. 

The drill programme follows reconnaissance work which resulted in the discovery of rutile during a shallow soil sampling and auger programme completed in September. 

That programme suggested potential for discovering high-grade rutile deposits within Mkango's large licence area, which is adjacent to an area that Sovereign Metals believes could potentially be a new province of rutile mineralisation.

"This drilling programme and soil sampling will help us to target saprolite-hosted mineralisation,” said Mkango's chief geologist, Dr Paul Armitage in a statement.

“It will test the extent of the rutile and ilmenite mineralisation over a large part of our licence area and aims to confirm the potential for discovering high-grade rutile deposits in the licence. Given that rutile is in high demand and that there is a shortage of supply, confirmation of rutile prospects on the Mchinji licence could prove to be highly significant for the company. We look forward to updating the market in the coming weeks as we receive the results from the laboratory."

The exploration programme will be funded from the company's existing working capital.

Quick facts: Mkango Resources Ltd

Price: 18.25 GBX

Market: LSE
Market Cap: £24.67 m

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