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Mkango Resources unearths new mineralisation areas at Thambani uranium project

Mkango is assessing its options for Thambani, including joint venture opportunities.

Mkango Resources Ltd -

Mkango Resources Ltd (LON:MKA, CVE:MKA) told investors that it has extended areas of uranium-tantalum-niobium mineralisation at the Thambani project, in southern Malawi.

Findings from last year’s exploration campaign, including assays from rock samples, confirmed uranium, tantalum and niobium with grades of up to 0.74% U3O8, 0.41% Ta2O5 and 3.24% Nb2O5, the company revealed.

READ: Mkango takes stake in rare earth recycler

It marks success for a programme that had aimed to identify new areas of mineralisation at Thambani, and, identify sites for a future drill campaign.

The company is currently evaluating strategic options for Thambani including possible joint ventures and “other potential avenues to create value”.

“The work has identified a number of potential uranium and associated niobium-tantalum-zircon targets over the Thambani Massif, which is mainly composed of nepheline-bearing syenite gneiss, forming two prominent ridges known as Thambani East Ridge and West Ridge,” Mkango said.

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Price: 2.9 GBX

LSE:MKA
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Market Cap: £3.86 m
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