Mkango Resources Limited, a Canadian-based mineral and exploration company, says it has started the process to update mineral resource estimate.
The exercise follows the completion of the final 21 drill holes from the recently completed 10 900-metre diamond drill programme at the Songwe Hill Rare Earths Project.
In a statement, the company’s chief executive officer William Dawes said following the resource update and subsequent publication of the related NI 43-101 technical report, anticipated in first quarter 2019, Talaxis will invest a further £7 million (about K6.6 billion) to fund completion of the feasibility study for Songwe, which will be the main focus for 2019.
“This rounds off what has been a highly successful drill programme with another excellent set of results.
“Metallurgical optimisation and work relating to the environmental, social and health impact assessment is also progressing well and we look forward to updating the market as we progress the feasibility study through 2019, starting with the resource update in the first quarter,” he said.
This is the eighth since the company started exploration works in the country and a total of 6 558 metres of drilling have been completed, comprising 53 drill holes with a maximum depth of around 220 metres.
Between 2011 and 2012, the miner completed two successful drilling programmes at Songwe Hill, totalling about 6 850 metres and culminating in a maiden mineral resource estimate. n