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Mkango Resources Ltd.
Summary
| Project: | Songwe Hill | |
|---|---|---|
| Deposit: | Songwe Hill | |
| Location: | Malawi | |
| Commodities: | Rare Earth | |
| Date: | 2/4/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 4-2-2019: Mkango Resources Ltd. announces a Resource Estimation report for its Songwe Hill deposit at the Songwe Hill project. Updated mineral resource estimate at the project. LONDON and VANCOUVER, British Columbia, Feb. 04, 2019 -- Mkango Resources Ltd. | |
| Resources: | (Resource, M+I): 21.03Mt @ 1.41% TREO | |
| CP/QP: | [Resources]: Jeremy Witley (MSA Group Pty Ltd.) | |
| ABSTRACT: | LONDON and VANCOUVER, British Columbia, Feb. 04, 2019 -- Mkango Resources Ltd. (AIM / TSXV: MKA) (the "Company" or "Mkango"), the rare earths exploration and development company focused on Malawi, is pleased to announce an updated mineral resource estimate for the Songwe Hill Rare Earths Project (“Songwe”). William Dawes, Chief Executive of Mkango stated: “All the objectives for the 2018 drill programme have been achieved and we are very pleased to announce this increased resource at Songwe. This provides a solid platform for completion of a revised mine plan to be incorporated into the feasibility study. Based on the larger Measured and Indicated Resource, the feasibility study will evaluate opportunities to include more tonnes into the mine plan, expand operations, extend the mine life, reduce the strip ratio and therefore reduce mining costs.” The updated base case Mineral Resource Estimate equates to a 60% increase in the Measured and Indicated Resource tonnage and a 48% increase in the Inferred Resource tonnages versus the base case 2012 Mineral Resource Estimate, which formed the basis for the 2015 pre-feasibility study. The Mineral Resource is open at depth. The combined Measured and Indicated Mineral Resource Estimate, totaling 21mt grading 1.41% TREO, will form the basis of the updated mine plan for the ongoing feasibility study, which will evaluate a bulk tonnage, open pit mining operation focused on broad zones of near surface and outcropping rare earths mineralisation. The updated resource supersedes the 2012 Mineral Resource Estimate, and therefore renders the mining and economic information in 2015 pre-feasibility study obsolete. Updated mining and economic information will be generated as part of the ongoing feasibility study based on the new resource. | |
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