Business
Phalaborwa Development and Resource Update
Phalaborwa Development and Resource Update.
About this update from Rainbow Rare Earths Ltd.
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n 20 March 2023\n \n \n \n Rainbow Rare Earths Limited\n \n \n \n (\"Rainbow\" or \"the Company\")\n \n \n LSE: RBW\n \n \n \n \n \n \n \n \n Phalaborwa Development and Resource Update\n \n \n \n \n Rainbow Rare Earths\n \n is pleased to announce the following update on the development of the Phalaborwa rare earths project in South Africa.\n \n \n \n Highlights\n \n \n \n ·\n Key workstreams have commenced to advance Phalaborwa to the definitive feasibility study (\"DFS\") stage.\n \n \n ·\n The pilot plant design and setup are progressing in line with expectations, with commissioning to commence in Q2 2023. Work has started with Mintek (South Africa's national, ISO-accredited mineral research organisation) in Johannesburg to design and fabricate the front end of the plant, which will produce a high-value mixed rare earth sulphate. The required back-end separation process continuous ion-exchange (\"CIX\")/continuous ion chromatography (\"CIC\") units have been delivered to K-Technologies Inc.'s (\"K-Tech\") Lakeland facility for setup and testing.\n \n \n ·\n The Company is today announcing an updated JORC compliant Mineral Resource Estimate (\"MRE\") for the project, increasing confidence from the previous Inferred Resource to deliver 24% Measured and 53% Indicated Resource.\n \n \n ·\n The overall size of the MRE is confirmed at 30.4 Mt, comprising 0.44% total rare earth oxides (\"TREO\"). High-value magnet rare earths Neodymium (\"Nd\") and Praseodymium (\"Pr\") represent 29% of the TREO in the rare earths basket, with economic quantities of Dysprosium (\"Dy\") and Terbium (\"Tb\"), in line with the previous Inferred Resource.\n \n \n ·\n As part of the DFS, the Company will undertake additional drilling to upgrade the MRE further. Rainbow expects that more accurate density measurements below the water table of the gypsum stacks at Phalaborwa will provide an opportunity to increase the total tonnage contained in the resource.\n \n \n ·\n The project remains on track to reach production in 2026 - five years after initial work commenced on site in 2021.\n \n \n ·\n Continued progress\n in\n ongoing\n discussions with global strategic funding partners\n .\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n George Bennett, CEO, commented:\n \n \"Workstreams for Phalaborwa's DFS...