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Initial Results from Uberaba confirm Rare Earths
Initial Results from Uberaba confirm Rare Earths.
About this update from Rainbow Rare Earths Ltd.
[{"type":"text","content":"\n\n\n7 September 2023\nRainbow Rare Earths Limited\n(\"Rainbow\" or \"the Company\")\nLSE: RBW\n \nInitial Results from Uberaba phosphogypsum stack confirms Rare Earths Opportunity\nRainbow Rare Earths is pleased to announce the assay results of the samples from the Uberaba phosphogypsum stack in Brazil that is the subject of the recently announced memorandum of understanding (\"MOU\") between Rainbow and The Mosaic Company (\"Mosaic\").\nHighlights\n· Initial assay analysis from samples indicates an average grade of 0.58% total rare earth oxides (\"TREO\"), higher than the 0.44% TREO for the Phalaborwa project.\n· The Uberaba basket contains all four of the most economically important rare earths, Neodymium and Praseodymium (\"NdPr\"), Dysprosium (\"Dy\") and Terbium (\"Tb\"), with NdPr representing ca. 25% of the basket; NdPr represents ca. 29% of the basket at Phalaborwa.\nRainbow assayed gypsum samples from different areas of the Mosaic stack, which were sent to SGS Laboratories (\"SGS\") in Toronto for testing. These initial results, considered positive, confirm that the Uberaba phosphogypsum stack has similar characteristics to Phalaborwa given that both stacks are based upon a hard rock carbonatite phosphate deposit.\nRainbow is encouraged by these results and is therefore planning additional test work at SGS around the mineralogy to identify the rare earth phases and facilitate the development of a process test programme.\nFollowing the development of the process flowsheet, the next step entails producing a preliminary economic assessment of this opportunity to extract rare earths.\nGeorge Bennett, CEO of Rainbow, commented: \"These positive initial assay results confirm that Uberaba represents a major opportunity for Rainbow to be able to develop an economic project along the lines of Phalaborwa, due to the similar nature of both gypsum resources. The Uberaba phosphogypsum stack is expected to be considerably larger in size than Phalaborwa and it is exciting that initial results indicate it could have a higher rare earth basket price, due to the higher NdPr content. We expect that a significant portion of the process flowsheet and intellectual property developed for Phalaborwa can be applied to rare earth extraction at Uberaba.\"\n\n\n \nFor further information, pleas...