[Malawi] Mkango begins diamond drilling at Songwe Hill Rare Earths
Exploration company has announced the start of a diamond drilling programme at the Songwe Hill Rare Earths Project in Malawi.
The drilling programme is a key component of the Feasibility Study for Songwe, which is being fully funded by Talaxis Limited, a subsidiary of Noble Group Ltd.
The drilling programme is for a minimum of 5,000 metres and will be focused on infill, step-out and geotechnical drilling. Over 50 drill pads have been constructed along with new access roads and enlarged camp infrastructure.
Mkango completed two successful drilling programmes at Songwe in 2011 and 2012, totaling approximately 6,850 metres and culminating in a maiden Mineral Resource Estimate. Mkango is targeting completion of an updated Mineral Resource Estimate by the end of 2018.
On Mkango publishing an NI 43-101 technical report in relation to the updated Mineral Resource Estimate, Talaxis will invest a further £7 million to fund completion of the Feasibility Study for Songwe.
In coming weeks, Mkango will be hosting investor and analyst site visits to Songwe and the Thambani Uranium-Tantalum-Niobium Project, also in Malawi.
William Dawes, CEO, commented: “We are delighted to announce the commencement of the drilling programme at Songwe. This is a culmination of extensive preparatory work completed over recent months and we are excited to kick off what will be the largest drill programme to date at Songwe. Mkango is fully funded to completion of a feasibility study with a clearly defined pathway to production. We look forward to keeping the market updated as we progress through the drilling programme and other major milestones.”