Business
Phalaborwa drilling update
Phalaborwa drilling update.
About this update from Rainbow Rare Earths Ltd.
[{"type":"text","content":"\n \n \n \n RNS Number : 8361K\n Rainbow Rare Earths Limited\n 07 January 2021\n \n \n \n \n Rainbow Rare Earths Limited \n \n \n (\"Rainbow\" or the \"Company\")\n \n \n (LSE: RBW)\n \n \n 7 January 2021\n \n \n \n \n \n Drilling at the Phalaborwa Rare Earths Project\n \n \n 'Completed ahead of schedule and under budget'\n \n Rainbow Rare Earths Ltd is delighted to announce that it has completed an auger drilling programme at the Phalaborwa Rare Earths Project (\"Phalaborwa\" or the \"Project\"), which was planned to deliver an inferred JORC (2012) resource classification, within the 35 million tonne gypsum stacks. Assay samples have been dispatched to SGS laboratories in South Africa, with results expected during Q1 2021. The drilling programme was completed ahead of schedule and under budget.\n A metallurgical test programme will also be conducted from the drill samples to facilitate process optimisation of the original processing flow sheet, developed by Sasol, which enabled the successful operation of a pilot plant to produce over three tonnes of mixed rare earth carbonate.\n George Bennett, CEO, said: \"Based on previous sampling campaigns, the gypsum stacks contain rare earth elements with an estimated average in situ grade of 0.6% TREO, of which an estimated 30% is Neodymium and Praseodymium (NdPr), vital metals for the green revolution. Defining an inferred resource for Phalaborwa will represent an important step in validating the Project's considerable potential as a significant producer of NdPr, enabling us to define and progress the optimal route to commercial production.\n Owing to the nature of the Project, with the resources contained in gypsum stacks, the drilling programme was extremely low-cost compared to drilling a hard rock deposit to define a similar size resource. I am extremely pleased with the excellent progress to date at Phalaborwa, which puts Rainbow in a strong position to further understand the significant potential of this Project.\"\n \n **ENDS**\n \n For further information, please contact\n \n \n \n \n \n Rainbow Rare Earths Ltd \n \n \n \n \n Company\n \n \n \n \n George Bennett \n \n \n Pete Gardner \n \n \n \n \n +27 82 652 8526 \n \n \n \n \n \n \n \n \n \n SP Angel Corporate Finance LLP\n \n \n \n \n Broker\n \n \n \n \n Ewan Leggat\n \n \n Ch...