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Mkango kicks off Talaxis-funded drilling at Songwe Hill rare earths project

Mkango Resources Ltd. kicked off a 5,000-meter diamond drilling program at its Songwe Hill rare earths project in Malawi.

The infill, stepout and geotechnical drilling-focused program is part of the feasibility study for Songwe Hill that is fully funded by Noble Group Ltd. subsidiary Talaxis Ltd.

Mkango is looking to complete an updated mineral resource estimate by the end of this year, following which Talaxis will invest a further £7 million to fund completion of the feasibility study.

Talaxis signed a definitive agreement in mid-May to earn up to a 75% interest in the Songwe Hill project from Mkango.