LONDON (ShareCast) - (ShareCast News) - Newcomer to the London markets, Mkango Resources, announced on Wednesday that it is in the process of acquiring new airborne geophysical data from the Malawi Geological Survey covering the majority of its Phalombe and Thambani exclusive prospecting licenses in Malawi.
The AIM-traded firm said the survey was part of a $25m World Bank funded project, and consists of high resolution airborne geophysics flown at 250 metre spacing; uranium, potassium and thorium radiometric surveys; a magnetic survey; a gravity survey and raw data production.

On 15 June, Malawi's Minister for Natural Resources Bright Msaka, also launched the five-year Geological Mapping and Mineral Assessment Project, which encompasses ground truthing of the airborne geophysical survey.

"We believe GEMMAP will significantly enhance Malawi's credentials as an investment destination for exploration and mining and we look forward to spearheading development of the sector, working closely with the Government of Malawi," said Mkango president Alexander Lemon.

"Auspiciously, GEMMAP was launched on the same day as Mkango's very successful listing on AIM."

"Furthermore, we are excited to be acquiring the new airborne geophysical data covering the majority of the Phalombe and Thambani licences in Malawi, which have excellent potential for rare earths and uranium, respectively," Lemon added.

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