The measured and indicated mineral resource at Mkango Resources’ Songwe Hill Rare Earths project, in Malawi, has increased by about 60% to 21-million tonnes.
The results of an updated mineral resource estimate, published on Monday, further show that the majority of the previously delineated near-surface inferred resource has been upgraded to either the measured or indicated categories.
This has achieved key objectives of the company’s 2018 drilling programme, with the updated resource underpinning the ongoing feasibility study.
About 95% of the measured and indicated mineral resource blocks are less than 160 m below the surface of the hill indicating that the majority will be accessible by openpit mining, Mkango said in a statement.
The updated and enlarged resource underpins Mkango’s strategy to be a long-term, sustainable producer of neodymium, praseodymium, dysprosium and terbium that are used in permanent magnet motors for electric vehicles, wind turbines and other clean technologies.
All the objectives for the 2018 drill programme have been achieved and we are very pleased to announce this increased resource at Songwe,” commented Mkango CE William Dawes.
“This provides a solid platform for completion of a revised mine plan to be incorporated into the feasibility study. Based on the larger measured and indicated resource, the feasibility study will evaluate opportunities to include more tonnes into the mine plan, expand operations, extend the mine life, reduce the strip ratio and therefore reduce mining costs.”