TIDMMKA
RNS Number : 6648M
Mkango Resources Limited
23 September 2021
MKANGO RESOURCES LTD.
550 Burrard Street
Suite 2900
Vancouver
BC V6C 0A3
Canada
MKANGO COMMENCES GEOTECHNICAL DRILLING AND PITTING PROGRAM AT
SONGWE HILL RARE EARTHS PROJECT IN MALAWI
London/Vancouver: September 23, 2021 - Mkango Resources Ltd (AIM
/ TSX-V: MKA) (the "Company" or "Mkango"), is pleased to announce
that the management team of Mkango, as well as leading Malawian
geotechnical engineering firm, Geoconsult Limited, and Zutari
Limited, a geotechnical engineering firm which is based in South
Africa, are on site at the Songwe Hill Rare Earths development
project to commence a major geotechnical drilling and pitting
program.
The geotechnical test work program will obtain samples from
approximately 150 five-metre-deep pits and 22 twenty-metre drill
holes and is being undertaken to confirm the soil and ground
characteristics of the Songwe Hill project area.
The geotechnical samples are being tested and investigated in
Malawi at the Geoconsult Limited laboratories in Lilongwe and will
provide the detailed geotechnical information that is required to
finalize the detailed engineering design plans, prior to the
completion of the Definitive Feasibility Study in Q1 2022.
Alexander Lemon, President of Mkango Resources Limited,
commented: "This major geotechnical investigation program is
currently employing and training over 120 local Malawian skilled
and unskilled personnel. We are very proud to be working with
leading Malawian companies such as Geoconsult and also Torrent a
local Blantyre based plant hire company, promoting Malawian local
content and community participation in the ongoing development of
this exciting Rare Earths project."
To stay up to date with our current activity on the ground, you
can join Mkango on Twitter @mkangoresources and LinkedIn
https://ca.linkedin.com/company/mkango-resources-ltd-
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No . 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement via Regulatory
Information Service ('RIS'), this inside information is now
considered to be in the public domain.
About Mkango Resources Limited
Mkango's corporate strategy is to develop new sustainable
primary and secondary sources of neodymium, praseodymium,
dysprosium and terbium to supply accelerating demand from electric
vehicles, wind turbines and other clean technologies. This
integrated Mine, Refine, recycle strategy differentiates Mkango
from its peers, uniquely positioning the Company in the rare earths
sector.
Mkango is developing Songwe Hill in Malawi with a Feasibility
Study targeted for completion in Q1 2022. Malawi is known as "The
Warm Heart of Africa", a stable democracy with existing road, rail
and power infrastructure, and new infrastructure developments
underway.
In parallel, Mkango recently announced that Mkango and Grupa
Azoty PULAWY, Poland's leading chemical company and the second
largest manufacturer of nitrogen and compound fertilizers in the
European Union, have agreed to work together towards development of
a rare earth Separation Plant at Pulawy in Poland. The Separation
Plant will process the purified mixed rare earth carbonate produced
at Songwe.
Through its ownership of Maginito ( www.maginito.com ), Mkango
is also developing green technology opportunities in the rare
earths supply chain, encompassing neodymium (NdFeB) magnet
recycling as well as innovative rare earth alloy, magnet, and
separation technologies. Maginito holds a 25% interest in UK rare
earth (NdFeB) magnet recycler, HyProMag ( www.hypromag.com ) with
an option to increase its interest to 49%.
Mkango also has an extensive exploration portfolio in Malawi,
including the Mchinji rutile project, in addition to the Thambani
uranium-tantalum-niobium-zircon project and Chimimbe nickel-cobalt
project.
For more information, please visit www.mkango.ca .
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements (within
the meaning of that term under applicable securities laws) with
respect to Mkango, its business, the Separation Plant and Songwe.
Generally, forward looking statements can be identified by the use
of words such as "plans", "expects" or "is expected to",
"scheduled", "estimates" "intends", "anticipates", "believes", or
variations of such words and phrases, or statements that certain
actions, events or results "can", "may", "could", "would",
"should", "might" or "will", occur or be achieved, or the negative
connotations thereof. Readers are cautioned not to place undue
reliance on forward-looking statements, as there can be no
assurance that the plans, intentions or expectations upon which
they are based will occur. By their nature, forward-looking
statements involve numerous assumptions, known and unknown risks
and uncertainties, both general and specific, that contribute to
the possibility that the predictions, forecasts, projections and
other forward-looking statements will not occur, which may cause
actual performance and results in future periods to differ
materially from any estimates or projections of future performance
or results expressed or implied by such forward-looking statements.
Such factors and risks include, without limiting the foregoing,
governmental action relating to COVID-19, COVID-19 and other market
effects on global demand and pricing for the metals and associated
downstream products for which Mkango is exploring, researching and
developing, factors relating the development of the Separation
Plant, including the outcome and timing of the completion of the
feasibility studies, cost overruns, complexities in building and
operating the Separation Plant, changes in economics and government
regulation, the positive results of a feasibility study on Songwe
Hill and delays in obtaining financing or governmental approvals
for, and the impact of environmental and other regulations relating
to, Songwe Hill and the Separation Plant. The forward-looking
statements contained in this news release are made as of the date
of this news release. Except as required by law, the Company
disclaims any intention and assumes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
applicable law. Additionally, the Company undertakes no obligation
to comment on the expectations of, or statements made by, third
parties in respect of the matters discussed above.
For further information on Mkango, please contact:
Mkango Resources Limited
William Dawes Alexander Lemon
Chief Executive Officer President
will@mkango.ca alex@mkango.ca
Canada: +1 403 444 5979
www.mkango.ca
@MkangoResources
Blytheweigh
Financial Public Relations
Tim Blythe
UK: +44 207 138 3204
SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
Jeff Keating, Caroline Rowe
UK: +44 20 3470 0470
Alternative Resource Capital
Joint Broker
Alex Wood, Keith Dowsing
UK: +44 20 7186 9004/5
Bacchus Capital Advisers
Strategic and Financial Adviser
Richard Allan, Andrew Krelle
UK: +44 20 3848 1642 / +44 79 5636 2903
The TSX Venture Exchange has neither approved nor disapproved
the contents of this press release. Neither the TSX Venture
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This press release does not constitute an offer to sell or a
solicitation of an offer to buy any equity or other securities of
the Company in the United States. The securities of the Company
will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") and may not be offered
or sold within the United States to, or for the account or benefit
of, U.S. persons except in certain transactions exempt from the
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