Mkango Resources Intersects Further Extensive Zones of REE Mineralisation at Songwe and Commences Estimation of NI 43-101 Com...
2012年9月4日 - 5:37PM
Marketwired Canada
Mkango Resources Ltd. (TSX VENTURE:MKA) (the "Corporation" or "Mkango") is
pleased to announce results for the remaining holes of the Stage 2 drilling
programme at the Songwe project in Malawi. Highlights from the new results are
as follows:
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PX007a 45.5 m(1) grading 1.8% TREO (51.9 - 97.3 m). Inclined hole (60
degrees).
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PX008 165.8 m grading 1.3% TREO (26.1 - 191.9 m), 34.0 m grading 1.8% TREO
(257.0 - 291.0 m) and 20.1 m grading 2.1% TREO (318.9 - 339.0 m).
Inclined hole (70 degrees).
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PX016 40.9 m grading 1.8% TREO (322.7 - 363.6 m EoH). Inclined hole (80
degrees).
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PX026 26.5 m grading 1.1% TREO (163.6 - 190.1 m) and 28.9 m grading 1.3%
TREO (243.0 - 271.9 m). Inclined hole (80 degrees).
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PX028 134.3 m grading 1.9% TREO (10.7 - 145.0 m), including 67.7 m grading
2.3% TREO (40.3 - 108.0 m), 29.0 m grading 1.2% TREO (159.0 - 188.0
m). Inclined hole (60 degrees).
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PX029 112.7 m grading 1.7% TREO (4.6 - 117.3 m), including 24.6 m grading
2.4% TREO (5.6 - 30.2 m). Inclined hole (60 degrees).
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PX032 164.5 m grading 1.2% TREO (2.5 - 167.0 m), including 46.1 m grading
1.6% TREO (2.5 - 48.6 m). Inclined hole (60 degrees).
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PX034 21.5 m grading 1.7% TREO (13.0 - 34.5 m), 79.0m grading 1.7% TREO
(47.0 - 126.0 m), including 13.2 m grading 3.0% TREO (89.0 - 102.2
m), 44.9 m grading 1.5% TREO (155.0 - 199.9 m) and 27.6 m grading
1.1% TREO (241.4 - 269.0 m). Inclined hole (65 degrees).
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(1) Includes two cavities totalling 9.4m not sampled. TREO: total rare
earth oxides including yttrium. These intersections are reported as
down hole widths and do not necessarily represent true thicknesses and
attitude of the mineralised zones, the estimation of which will
require further refining of the geological model. See Appendix for
contents of TREO and for further details on results of Stage 2
drilling programme. PX007b and PX010 were planned to test potential
depth extensions of mineralised zones in PX007a and PX001, but were
aborted prematurely at 21m and 52 m, respectively, due to bad ground
conditions and are therefore not reported.
-- A total of 38 holes were completed in Stages 1 and 2 for a total of
approximately 6,850 metres, focusing on an area measuring approximately
350 m by 100 m comprising rare earth enriched lithologies largely
exposed at surface.
-- The majority of Stage 1 and 2 drill holes intersected broad zones of
rare earth mineralization, including zones of elevated heavy rare earth
enrichment.
-- The MSA Group, Johannesburg, South Africa, has commenced estimation of a
National Instrument 43-101 compliant mineral resource estimate for the
Songwe project and an announcement will be forthcoming in the next few
weeks.
-- Mineralisation is open to depth and along strike, and there are known
areas of additional carbonatite exposure within the Songwe vent system
constituting further exploration upside.
A schematic geological map illustrating the location of the drill hole collars
and estimated drill hole traces is available on the Company's website
(www.mkango.ca).
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 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 Dr. Scott Swinden of Swinden
Geoscience Consultants Ltd, 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.
To view the Appendix - Selected Stage 2 drill results (latest results shaded),
please visit the following link:
http://media3.marketwire.com/docs/816431.pdf
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