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Rainbow Rare Earths Ltd.
Summary
| Project: | Gakara | |
|---|---|---|
| Deposit: | Gakara | |
| Location: | Burundi | |
| Commodities: | Rare Earth | |
| Date: | 6/27/2018 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-6-2018: Rainbow Rare Earths Ltd. announces an Exploration/Drilling Update report for its Gakara deposit at the Gakara project. Drilling results incl. 6.50m @ 7.10% TREO from 26.50m. Rainbow, the Rare Earth Element ('REE') mining company, is pleased to | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Not stated (n/a) | |
| ABSTRACT: | Rainbow, the Rare Earth Element ('REE') mining company, is pleased to announce an update from its maiden drilling campaign at its Gakara Project in Burundi ('Gakara'). Gakara is one of the highest grade rare earth element mining projects globally, with an estimated in situ vein grade of 47-67% Total Rare Earth Oxide ('TREO'), and the Company is targeting to ramp up production to an annualised rate of 5,000 tonnes per year (approximately 400 tonnes per month) by the end of calendar year 2018. Martin Eales, CEO of Rainbow, said: "We were anticipating some exciting mineralisation at Kiyenzi following our original field testing, and these laboratory results now confirm it. The thickness of the breccia deposit is likely to add many more tonnes to our code-compliant resource, targeted for this year, and should also be better suited to mechanised mining. "Phase 2 drilling starts within the next month at Kiyenzi and we look forward to incorporating these results, as well as other areas within the Gakara project, into our targeted maiden resource later this year with a view of further ramping up our production of REE concentrate in the near-term to achieve our 6,000tpa run rate target by the end of 2019." | |
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