Survey finds mineral traces in Thambani
An airborne survey which the government undertook with support from the World Bank has found significant potential for uranium, niobium, tantalum and other minerals in some parts of Thambani where Mkango resources is carrying out mineral exploration activities.
The Survey also highlighted a number of magnetic anomalies not previously identified which require further investigation to determine the significance of the magnetic anomalies, and whether they are related to mineralisation or geological features.
According to a statement from Mkango Resources, the magnetic high anomalies provide an excellent focus for future exploration for niobium and tantalum at Thambani.
According to the results, two thirds of the 137 square kilometre of the Thambani licence has a significant potential for uranium, niobium and tantalum.
Mkango Resources Chief Executive Officer, William Dawes, said the areas require further investigation to determine their significance.
“We are very excited with the results of the airborne survey, which further confirms, significant potential for uranium, niobium, tantalum and other minerals in the Thambani licence.
This area benefits from good infrastructure, including roads, power and a new railway line passing through the south of the licence area. To date, the market has yet to recognise Thambani’s potential and we continue to look at opportunities to maximise value.”
The survey also confirmed presence of a previously identified uranium radiometric anomaly measuring at least three kilometres, along the western flank of the Thambani East ridge.
The survey was part of a S$25 million World Bank funded nationwide airborne programme.
Mkango’s primary business is the exploration for rare earth elements and associated minerals.
Mkango holds, through its wholly owned subsidiary Lancaster Exploration Limited, a 100 percent interest in two exclusive prospecting licences in southern Malawi, the Thambani licence and the Phalombe licence.
The main exploration target in the Phalombe licence is the Songwe Hill rare earth deposit, which features carbonatite hosted rare earth mineralisation and was subject to previous exploration in the late 1980s and for which Mkango completed an updated pre– feasibility study in November 2015.
The company’s strategy is to develop new sustainable sources of rare earth elements and other minerals.