Mkango Resources Limited Mkango renews Thambani Licence (7100O)
August 23 2017 - 2:00AM
UK Regulatory
TIDMMKA
RNS Number : 7100O
Mkango Resources Limited
23 August 2017
MKANGO RESOURCES LTD.
706 27 Avenue NW,
Calgary, Alberta T2M 2J3
MKANGO RENEWS THAMBANI LICENCE
Calgary, Alberta: August 23, 2017 - Mkango Resources Ltd. (AIM /
TSXV: MKA) (the "Company" or "Mkango"), is pleased to announce that
the Government of Malawi has granted a further two year renewal,
from September 8, 2017, for Exclusive Exploration Licence ("EPL")
0303/10R3 ("the Thambani Licence"), in southwest Malawi.
The main exploration targets in the Thambani licence are
uranium, niobium, tantalum, zircon and other associated minerals.
In May 2017, Mkango announced the results of recent exploration at
Thambani. Assay results from 85 rock grab samples returned high
grade uranium, tantalum and niobium values, ranging up to 3.3 %
U(3) O(8) , 1.9 % Ta(2) O(5) and 6.0 % Nb(2) O(5) . 35 of the
samples graded above 500ppm U(3) O(8) and 24 graded above 1,000ppm
U(3) O(8) . The May 2017 press release can be accessed via the
following link: http://www.mkango.ca/s/news.asp?ReportID=790626.
Mkango is currently evaluating strategic options for Thambani,
including opportunities to joint venture or spin-off the project,
and other potential avenues to create value.
About Mkango Resources Ltd.
Mkango's primary business is the exploration for rare earth
elements and associated minerals in the Republic of Malawi, a
country whose hospitable people have earned it a reputation as "the
warm heart of Africa". Mkango holds, through its wholly owned
subsidiary Lancaster Exploration Limited, a 100% interest in two
exclusive prospecting licences in southern Malawi, the Phalombe
licence and the Thambani licence.
The main exploration target in the Phalombe licence is the
Songwe Hill rare earths' deposit, which features carbonatite hosted
rare earth mineralisation and was subject to previous exploration
in the late 1980s. Mkango completed an updated Pre-feasibility
Study for the project in November 2015. Mkango's strategy for
Songwe is to further optimise the project with a view to maximising
efficiency and reducing costs, thereby providing a strong platform
for entering into partnerships, marketing and offtake arrangements.
In December 2016, Mkango entered into an agreement with Noble
Resources International to collaborate in the rare earths sector.
In March 2017, Mkango entered into a MOU with Metalysis Limited to
jointly research, develop and commercialise novel rare earth metal
alloys for use in three-dimensional (3D) printed permanent
magnets.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements.
Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the
plans, intentions or expectations upon which they are based will
occur. By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties, both
general and specific, that contribute to the possibility that the
predictions, forecasts, projections and other forward-looking
statements will not occur, which may cause actual performance and
results in future periods to differ materially from any estimates
or projections of future performance or results expressed or
implied by such forward-looking statements.
Such factors and risks include, without limiting the foregoing,
delays in obtaining financing or governmental or stock exchange
approvals. The forward-looking statements contained in this press
release are made as of the date of this press release. Except as
required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by applicable law. Additionally, the Company
undertakes no obligation to comment on the expectations of, or
statements made by, third parties in respect of the matters
discussed above.
For further information, please contact:
Mkango Resources Limited
William Dawes Alexander Lemon
Chief Executive Officer President
will@mkango.ca alex@mkango.ca
UK: +44 207 3722 744
Canada: +1 403 444 5979
Blytheweigh
Financial Public Relations
Tim Blythe, Camilla Horsfall, Nick
Elwes
UK: +44 207 138 3204
SP Angel Corporate Finance LLP
Nominated Adviser and Broker
Jeff Keating , Caroline Rowe
UK: +44 20 3470 0470
The TSX Venture Exchange has neither approved nor disapproved
the contents of this press release. Neither the TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any equity or other securities of
the Corporation in the United States. The securities of the
Corporation will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") and
may not be offered or sold within the United States to, or for the
account or benefit of, U.S. persons except in certain transactions
exempt from the registration requirements of the U.S. Securities
Act.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCPTMFTMBBTBJR
(END) Dow Jones Newswires
August 23, 2017 02:00 ET (06:00 GMT)
Mkango Resources (LSE:MKA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Mkango Resources (LSE:MKA)
Historical Stock Chart
From Apr 2023 to Apr 2024