JOHANNESBURG (miningweekly.com) – Aim- and TSX-V-listed Mkango Resources has been granted a further two years on its exclusive exploration licence for its Thambani project, in south-west Malawi, effective September 8, 2017.
Mkango is currently evaluating strategic options for Thambani, including opportunities to form a joint venture or to spin-off the project, and other potential avenues that might create value.
The main exploration targets within the Thambani licence are uranium, niobium, tantalum, zircon and other associated minerals, the company said in an update to shareholders on Wednesday.
In May, Mkango released the assay results from 85 rock grab samples, revealing high-grade uranium, tantalum and niobium values, ranging up to 3.3% U3O8, 1.9% Ta2O5 and 6% Nb2O5.
Thirty-five of the samples graded above 500 ppm U3O8 and 24 graded above 1 000 ppm U3O8.