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Phase 1 Drilling Results Confirm High Grade REE
Phase 1 Drilling Results Confirm High Grade REE.
About this update from Rainbow Rare Earths Ltd.
[{"type":"text","content":"\n \nRNS Number : 6693S Rainbow Rare Earths Limited 27 June 2018 \n\nFOR IMMEDIATE RELEASE\n27 June 2018\n \nRainbow Rare Earths Ltd ('Rainbow' or 'the Company') (LSE: RBW)\nExtremely Positive Laboratory Results Confirm Multiple High-Grade Intersections \n \nRainbow, 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.\n \nHighlights\n \n· Laboratory results from the Kiyenzi drill cores have confirmed initial field analysis of the presence of multiple intersections of high grade REE\n· Test highlights include 6.5m @ 7.1% TREO (including 44cm @ 35.3% TREO) and 1m @ 27.8% TREO (including 50cm at 30.34% TREO)\n· Mineralisation at Kiyenzi is contained within a breccia pipe structure, in which REE minerals are interspersed with non REE-containing rocks. This implies lower average grades per tonne, but much wider mineralised zones and therefore greater tonnages, and simpler, faster mining\n· As previously announced, Rainbow will now proceed with the Phase 2 exploration campaign with an aim of delivering a code-compliant resource by the end of 2018\n \nMartin 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.\n \n\"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.\"\n \nPhase 1 Drilling C...