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.