(MENAFN- ProactiveInvestors - UK) Rare earths junior Mkango Resources Ltd (LON:MKA CVE:MKA) is to acquire new airborne data that covers the majority of its Phalombe and Thambani licences in Malawi.
A nationwide airborne geophysical survey over Malawi has recently been carried out as part of a US$25mln World Bank-funded project. High resolution airborne geophysics was flown at 250 metre spacing, while there were uranium, potassium and thorium radiometric surveys, a magnetic survey, a gravity survey and raw data production. The Phalombe and Thambani licences have excellent potential for rare earths and uranium, respectively, said Alexander Lemon, Mkango''s president. In addition, a five-year Geological Mapping and Mineral Assessment Project (GEMMAP), which encompasses ground truthing of the airborne geophysical survey, also got underway last week. The French government is supporting the project, which aims to acquire geo-scientific and mineral occurrence data. Malawi was last mapped in the 1950s and 1960s using aerial photography with very limited follow up ground work, said Mkango. GEMMAP will be implemented by a consortium of the Malawian Geological Survey,French Geological Survey(BRGM), Council for Geosciences of South Africaand theGeological Survey of Finland (GTK). Lemon said: "We believe GEMMAP will significantly enhance Malawi''s credentials as an investment destination for exploration and mining. ''Auspiciously, GEMMAP was launched on the same day as Mkango''s very successful listing on AIM." Shares in Mkango were little changed at 4.88p having risen sharply since their AIM debut.
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