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Rainbow Rare Earths Ltd.
Summary
| Project: | Gakara | |
|---|---|---|
| Deposit: | Gakara | |
| Location: | Burundi | |
| Commodities: | Rare Earth | |
| Date: | 12/17/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 17-12-2018: Rainbow Rare Earths Ltd. announces a Resource Estimation report for its Gakara deposit at the Gakara project. Initial mineral resource estimate at the project and exploration target. Rainbow, the rare earth element mining company, is pleased t | |
| Resources: | (Resource, Total): 1.192Mt @ 2.23% TREO | |
| CP/QP: | [Resources]: Cesare Morelli (Internal) | |
| ABSTRACT: | Rainbow, the rare earth element mining company, is pleased to announce a maiden Mineral Resource Estimate completed in accordance with JORC (2012) in respect of the Company's Gakara rare earths project in Burundi, East Africa ('Gakara' or 'the Project'), which is Africa's only producing rare earth mine. Martin Eales, CEO of Rainbow, said: "We are pleased to announce the maiden JORC-compliant Mineral Resource Estimate for the Gakara project, on time and on budget. The Mineral Resource, which is based on only four out of the 28 identified targets within our licence, shows over 1.2 million tonnes of ore, a considerable deposit in its own right, and provides further evidence that the Gakara deposit is a world-class source of rare earth oxides."Three of the areas are high-grade vein stockworks, and include 12,491 tonnes of ore Resource at 55% TREO. These alone will provide over two years' head feed for our planned ramp-up to 5,000t concentrate, and we will of course continue to explore these deposits further."The Kiyenzi deposit has been confirmed as a very large, lower grade deposit, which ties in with the airborne and ground gravity results previously announced. The currently modelled deposit amounts to nearly 1.2 million tonnes of ore at 2.2% TREO, and may well be related to a carbonatite source. This deposit is open in all directions and is an extremely exciting prospect as it presents a new opportunity for Rainbow to further develop its mining and processing capabilities. | |
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