Mkango Resources Ltd Announces Channel Sampling Results for the Songwe Hill Rare Earth Project in Malawi and Provides Stage 2...
2012年3月28日 - 12:05AM
Marketwired Canada
Mkango Resources Ltd. (TSX VENTURE:MKA) (the "Corporation" or "Mkango") is
pleased to announce channel sampling results and an update on drilling
activities for the Songwe Hill rare earth project in Malawi.
Channel sampling results
Mkango has completed five E-W trending surface channel sampling lines using rock
saws at Songwe Hill with the objective of further constraining the geological
model as well as rare earth element (REE) mineralization for potential
incorporation into a NI 43-101 compliant mineral resource estimate.
Delineation of the channel sampling lines was dictated by the availability of
outcrop along each E-W line, and in the absence of outcrop, the most proximal
outcrop to the line was sampled, irrespective of lithology. Each E-W line
approximately corresponds to the surface projections of one or more of the Stage
1 or Stage 2 drill hole traces.
The results of the channel sampling is broadly consistent with existing
geological mapping, geochemical grab sampling and portable XRF sampling results
generated to date, and further validates continuity of rare earth mineralisation
at surface in carbonatite, carbonatite breccia and fenite lithologies.
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Aggregated
length of Weighted Aggregated
Aggregated carbonatite average length of Weighted
E-W line length of (1) in grade of fenite in average
(approx channel channel carbonatite channel grade of
length) samples samples (1) samples fenite
m m % TREO (2) m % TREO (2)
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SGW-01 (200m) 152 119 1.75% 33 0.73%
SGW-02 (150m) 106 79 1.44% 27 1.20%
SGW-03 (110m) 66 53 1.70% 14 0.67%
SGW-04 (120m) 63 33 2.83% 31 0.94%
SGW-05 (55m) 37 31 1.37% 6 1.28%
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(1) Includes both carbonatite and carbonatite breccia lithologies; (2) Total
rare earth oxides
A schematic map illustrating the location of the five channel lines and tables
showing the results and breakdown of individual rare earth oxide's will be made
available on the Company's website (www.mkango.ca).
Stage 2 drilling update
Mkango's drilling contractors, Cartwright Drilling Inc. of Goose Bay, Canada,
commenced Stage 2 drilling on 10th January and have made good progress. To date,
a total of 17 holes (3,149 metres) have been drilled. Drilling continues to
intersect broad zones of mineralised carbonatite, carbonatite breccia and
fenite. Furthermore, REE mineralisation was intersected at a vertical depth of
350m below surface which has significantly extended the known depth extent of
REE mineralisation.
The Stage 2 drilling programme is designed to complement the Stage 1 drilling
programme completed in 2011, and is focusing on an area measuring approximately
350m by 100m comprising rare earth enriched carbonatite, carbonatite breccia and
fenite lithologies, largely exposed at surface.
The programme comprises infill drilling and testing depth extensions of
mineralisation identified in the first stage.
The Songwe Hill Rare Earth Project
The Songwe Hill rare earth project is located within a 100% owned exclusive
prospecting licence covering an area of 1,283 km2 in southeast Malawi (the
"Phalombe Licence"). Songwe is accessible by road from Zomba, the former
capital, and Blantyre, the principal commercial town of Malawi. Total travel
time from Zomba is approximately 1.5 to 2 hours, which will reduce as
infrastructure continues to be upgraded in the area.
Scientific and technical information, including data verification, contained in
this release has been approved and verified by Mr Mike Venter Pr.Sci.Nat,
Principal Consultant at The MSA Group who is a "Qualified Person" in accordance
with National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Sample preparation and analytical work for the drilling and channel sampling
programmes are being provided by Intertek-Genalysis Laboratories (Johannesburg,
South Africa and Perth, Australia) employing ICP-MS techniques suitable for rare
earth element (REE) analyses and following strict internal QAQC procedures
inserting duplicates, blanks and standards. Internal Laboratory QAQC was also
completed to include blanks, standards and duplicates.
Mkango Resources Ltd.
Mkango's primary business is the exploration for rare earth elements and
associated minerals in the Republic of Malawi. It holds, through its wholly
owned subsidiary Lancaster, a 100% interest in two exclusive prospecting
licenses covering a combined area of 1,751 km2 in southern Malawi. The main
exploration target is the Songwe Hill rare earth deposit, which features
carbonatite hosted rare earth mineralisation and was subject to previous
exploration in the late 1980s.
The Corporation's corporate strategy is to further delineate the rare earth
mineralisation at Songwe Hill and secure additional rare earth element and other
mineral opportunities in Malawi and elsewhere in Africa.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements relating to the
Corporation. 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, among others, the
interpretation and actual results of current exploration activities; changes in
project parameters as plans continue to be refined; future commodity prices;
possible variations in grade or recovery rates; failure of equipment or
processes to operate as anticipated; labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or financing or in
the completion of exploration.
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 Corporation
disclaims any intention and assume 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 securities law.
Additionally, the Corporation undertakes no obligation to comment on the
expectations of, or statements made, by third parties in respect of the matters
discussed above.
The TSX Venture Exchange has neither approved nor disapproved the contents of
this press release.
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