Business
Operations Update
Operations Update.
About this update from Rainbow Rare Earths Ltd.
[{"type":"text","content":"\n \nRNS Number : 0606H Rainbow Rare Earths Limited 05 June 2017 \n\nFOR IMMEDIATE RELEASE\n5 June 2017\n \nRainbow Rare Earths Ltd ('Rainbow' or 'the Company') (LSE: RBW)\nOperations Update\n \nRainbow, the rare-earth element mining company, is pleased to announce a further update on its Gakara Rare Earth Project ('Gakara') in Burundi. Gakara is one of the highest grade rare earth element mining projects globally with an estimated in situ grade of 47-67% Total Rare Earth Oxide ('TREO'), ahead of targeted first production and sales of rare earth concentrate in Q4 2017.\n \nHighlights\n· Mining to remove overburden commenced at initial mine site Gasagwe in April 2017 ahead of stockpiling the high grade material from the main vein;\n \n· Discovery of several unrecorded veins at Gasagwe further supports the Company's confidence of significant upside to the known mineralisation; \n \n· Upgrades to local infrastructure to support haul vehicles transporting run of mine ('ROM') ore to the processing plant in development at Kabezi;\n \n· Significant progress made with preparation work at the Kabezi site with permitting concluded ahead of commencement of civil works and construction of processing plant; and\n \n· Mining and plant construction timetable remains on track to deliver first rare earth concentrate for sale in Q4 2017\n \nMartin Eales, CEO of Rainbow, commented: \"I am delighted to say that our fast-tracked development schedule is bearing fruit and we are making solid progress towards first production of rare earth concentrate within the next six months.\n \n\"I look forward to providing further updates as we move up through the gears towards production over the coming months and also to delivering further news relating to the identification of future mining sites at Gakara as our exploration campaigns produce results.\"\n \nFurther Information\n \n \nMining\n \nMining work at Gakara commenced in April 2017, focussing on the initial mining site at Gasagwe. This will be the Company's primary source of ROM ore during 2017/18. The labour force has concentrated on stripping overburden at the surface of Gasagwe, thereby exposing the targeted 'main vein' to a heig...