Press release from Marketwire
Mkango Resources Intersects Further Significant Zones of REE Mineralisation at Songwe Including 42.3 m Grading 2.1% TREO, 39.1 m Grading 1.9% TREO, and 47.3 m Grading 2.2% TREO
Tuesday, June 12, 2012
Mkango Resources Intersects Further Significant Zones of REE Mineralisation at Songwe Including 42.3 m Grading 2.1% TREO, 39.1 m Grading 1.9% TREO, and 47.3 m Grading 2.2% TREO08:19 EDT Tuesday, June 12, 2012CALGARY, ALBERTA--(Marketwire - June 12, 2012) - Mkango Resources Ltd. (TSX VENTURE:MKA) (the "Corporation" or "Mkango") is pleased to announce results for a further seven holes of the Stage 2 drilling programme at the Songwe project in Malawi. The results for the remaining 15 drill holes from the Stage 2 drilling will be announced as the analyses become available. Highlights from the new results are as follows:PX01577.8 m grading 1.1% TREO (20.1 - 97.8 m) including 10.0 m grading 2.0% TREO (82.0 - 92.0 m). Inclined hole (80 degrees).PX017a39.1 m grading 1.9% TREO (0.0 - 39.1 m) including 13.5 m grading 3.6% TREO (0.0 - 13.5 m). Inclined hole (70 degrees).PX01847.3 m grading 2.2% TREO (9.0 - 56.3 m), 13.6 m grading 2.1% TREO (102.8 - 116.4 m), 99.8 m grading 1.2% TREO (125.6 - 225.4 m) including 38.7 m grading 1.5% TREO (125.6 - 164.3 m). Inclined hole (70 degrees).PX022a61.7 m grading 1.4% TREO (11.6 - 73.2 m)1 including 31.0m grading 1.7% TREO (37.0 - 68.0 m)1, and 15.7m grading 1.8% TREO (88.0 - 103.7 m EoH). Inclined hole (80 degrees).PX02527.6 m grading 1.8% TREO (89.4 - 117.0 m EoH). Inclined hole (60 degrees).PX03396.8 m grading 1.6% TREO (4.2 - 101.0 m)2 including 42.3 m grading 2.1% TREO (42.0 - 84.3 m). Inclined hole (60 degrees).PX03596.3 m grading 1.5% TREO (0.0 - 96.3 m)3 including 25.0 m grading 1.8% TREO (41.5 - 66.5 m) and 22.7 m grading 1.8% TREO (72.3 - 95.0 m). Inclined hole (80 degrees).1 Includes 5.7 m cavity which was not sampled. 2 Includes 2.2 m cavity which was not sampled. 3 Includes 2.6 m cavity which was not sampled. TREO: total rare earth oxides including yttrium. These intersections are reported as down hole widths and do not necessarily represent true thicknesses and attitude of the mineralised zones, the estimation of which will require further refining of the geological model. See Appendix for contents of TREO and for further details on results of Stage 2 drilling programme.A total of 25 holes were completed in Stage 2 for a total of approximately 4,860 metres to a maximum vertical depth of approximately 350 metres. Consistent with Stage 1 drilling completed in 2011, Stage 2 drilling intersected broad zones of mineralised carbonatite, carbonatite breccia and fenite. Drilling to date has focused on an area measuring approximately 350 m by 100 m comprising rare earth enriched lithologies largely exposed at surface. Mineralisation is open to depth and along strike, and there are known areas of additional carbonatite exposure within the Songwe vent system constituting further exploration upside. The MSA Group, Johannesburg, South Africa, will commence estimation of a National Instrument 43-101 compliant resource estimate for the Songwe project on receipt of all the assay results. A schematic geological map illustrating the location of the drill hole collars and estimated drill hole traces is available on the Company's website (www.mkango.ca).The Songwe Hill Rare Earth Project The Songwe Hill rare earth project is located within a 100% owned exclusive prospecting licence covering an area of 1,283 km2 in southeast Malawi (the "Phalombe Licence"). Songwe is accessible by road from Zomba, the former capital, and Blantyre, the principal commercial town of Malawi. Total travel time from Zomba is approximately 2 hours, which will reduce as infrastructure continues to be upgraded in the area. Scientific and technical information, including data verification, contained in this release has been approved and verified by Dr. Scott Swinden of Swinden Geoscience Consultants Ltd, who is a "Qualified Person" in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Sample preparation and analytical work for the drilling and channel sampling programmes are being provided by Intertek-Genalysis Laboratories (Johannesburg, South Africa and Perth, Australia) employing ICP-MS techniques suitable for rare earth element (REE) analyses and following strict internal QAQC procedures inserting duplicates, blanks and standards. Internal Laboratory QAQC was also completed to include blanks, standards and duplicates. Mkango Resources Ltd.Mkango's primary business is the exploration for rare earth elements and associated minerals in the Republic of Malawi. It holds, through its wholly owned subsidiary Lancaster, a 100% interest in two exclusive prospecting licenses covering a combined area of 1,751 km² in southern Malawi. The main exploration target is the Songwe Hill rare earth deposit, which features carbonatite hosted rare earth mineralisation and was subject to previous exploration in the late 1980s. The Corporation's corporate strategy is to further delineate the rare earth mineralisation at Songwe Hill and secure additional rare earth element and other mineral opportunities in Malawi and elsewhere in Africa.Cautionary Note Regarding Forward-Looking StatementsThis news release may contain forward-looking statements relating to the Corporation. 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, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future commodity prices; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration. The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Corporation disclaims any intention and assume 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 securities law. Additionally, the Corporation undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. To view the table associated with this release, please see the following link: http://media3.marketwire.com/docs/mka_appendix_june12.pdfFOR FURTHER INFORMATION PLEASE CONTACT: William DawesMkango Resources Ltd.Chief Executive Officer+1 (403) 444-5979+1 (403) 351-1703 (FAX)firstname.lastname@example.orgORAlexander LemonMkango Resources Ltd.President+1 (403) 444-5979+1 (403) 351-1703 (FAX)email@example.comNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.