TIDMRBW
RNS Number : 8709O
Rainbow Rare Earths Limited
12 February 2021
Rainbow Rare Earths Limited
("Rainbow" or the "Company")
(LSE: RBW)
12 February 2021
Assay Results from Phalaborwa Indicate 0.5% TREO Grade,
Confirming the High-Grade Nature of the Mineralisation
Rainbow Rare Earths Ltd is pleased to announce the first batch
of assay results of the auger drilling programme completed at the
Phalaborwa Rare Earths Project ("Phalaborwa" or the "Project")
located in South Africa, which confirm:
-- Average in situ grade of 0.50% total rare earths oxide ("TREO").
-- Average in-situ combined grade of 0.15% Neodymium and
Praseodymium ("NdPr") oxide, representing 29.7% of the TREO grade
reported in the rare earths basket.
-- 29.7% NdPr represents one of the highest weightings of NdPr
in a rare earths basket of any project in the world.
These initial results, received from 178 of the 708 total
samples from the 1,056-metre drilling programme, demonstrate the
expected homogenous nature of the rare earth mineralisation in the
gypsum stacks. They are also supportive of previous indications
from the Sasol sample and test work programme.
Results are included in a table below. Further assay results
will be announced shortly, followed by the estimation and
publication of an JORC (2012) Mineral Resource Estimate within the
estimated +/-35 million tonne gypsum stacks.
George Bennett, CEO, said: "These assay results go a long way to
confirming the substantial tonnage and value of the Phalaborwa Rare
Earths Project in terms of both in-situ grade and the consistency
of the high value NdPr content in the rare earths basket. The
results also demonstrate extremely low levels of radioactive
elements present in the stacks, substantially below the low
radioactive levels which we have seen to date for other rare earth
projects globally. This factor simplifies the optimised processing
flow sheet from Sasol's initial pilot plant flow sheet, developed
to extract the rare earth mineralisation from the gypsum. These
assays also highlight the environmentally advantageous
characteristics of the Phalaborwa project, which we believe will
position Rainbow as a leading example of a 'green' rare earth
Company, producing the elements required for the clean energy
revolution.
These are very high grades for a low-cost project of this type,
which is potentially homogenous in nature, with minimal geological
uncertainty, no waste stripping requirements and where the gypsum,
which is already in a 'cracked' chemical form, is ready to process.
The results further underscore Phalaborwa's potential to drive
Rainbow's strategy to become a globally-significant producer of
rare earth metals."
For further information, please contact:
Rainbow Rare George Bennett
Earths Ltd Company Pete Gardner +27 82 652 8526
SP Angel Corporate Ewan Leggat
Finance LLP Broker Charlie Bouverat +44 (0) 20 3470 0470
--------- ------------------- --------------------------------------
Flagstaff Strategic Tim Thompson +44 (0) 207 129 1474
and Investor Fergus Mellon rainbowrareearths@flagstaffcomms.com
Communications
------------------ --------------------------------------
Qualified Person
Mr Malcolm Titley, an independent consultant, full time employee
of Maja Mining Limited and Competent Person as defined by the JORC
Code. Mr Titley has visited the Phalaborwa site, reviewed the auger
drilling programme, visited the analytical laboratory and approved
the information contained in this announcement. Malcom Titley is a
Member of both the Australasian Institute of Mining and Metallurgy
and Australian Institute of Geologists.
Notes to Editors:
Rainbow's strategy is to become a globally-significant producer
of rare earth metals. NdPr are vital components of the strongest
permanent magnets used for the motors and turbines driving the
green technology revolution. Analysts are predicting demand for
magnet rare earth oxides will grow substantially over the coming
years, driven by increasing adoption of green technology, pushing
the overall market for NdPr into deficit.
The Company's Gakara Project in Burundi, which produces one of
the highest-grade concentrates in the world (typically 54% TREO)
through ongoing trial mining operations, is currently the only
African producer of rare earths. The Gakara basket is weighted
heavily towards NdPr, which account for over approximately 19.5% of
the contained TREO and 85% of the value of the concentrate.
The Phalaborwa Rare Earths Project, located in South Africa,
comprises approximately 35 million tonnes of gypsum tailings
stacked in unconsolidated dumps derived from historic phosphate
hard rock mining, containing rare earth elements with an initial
estimated average in situ grade of 0.6% TREO, based on previous
sampling campaigns, of which +/- 30% comprises high-value NdPr. The
rare earths are contained in chemical form in the gypsum dumps,
which is expected to deliver a higher-value rare earth carbonate,
with lower operating costs than a typical rare earth mineral
project.
Assay results:
Hole Length Ce Dy Er Eu Gd Ho La Lu Nd Pr Sm Tb Tm Y Yb TREO LREO HREO CREO NdPr Th U
ID
m ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm % ppm ppm
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH01 12.0 1,650 33 7 31 131 4 695 0 946 217 177 14 0 69 2 4,653 3,002 1,652 1,280 29 43 3
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH02 9.0 1,747 32 6 33 115 4 723 0 1,011 229 159 12 0 54 2 4,829 3,162 1,666 1,336 30 46 2
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH03 10.5 1,859 34 7 34 105 4 794 0 1,055 240 142 11 0 50 2 5,076 3,390 1,687 1,384 30 47 1
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH04 12.0 1,956 34 7 35 98 4 817 0 1,118 254 138 10 0 50 2 5,293 3,547 1,746 1,458 30 50 1
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH05 10.5 1,800 33 7 32 93 4 759 0 1,026 235 128 10 0 53 2 4,894 3,273 1,621 1,350 30 47 2
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH08 18.0 2,073 42 8 34 126 5 869 0 1,187 270 172 15 1 69 3 5,703 3,763 1,939 1,577 30 40 2
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH09 18.0 2,006 43 8 33 124 5 841 0 1,155 263 167 15 1 75 3 5,548 3,644 1,904 1,547 30 42 2
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH10 19.5 1,685 36 7 28 93 5 694 0 978 224 128 11 1 68 2 4,635 3,050 1,585 1,314 30 37 2
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH11 15.0 2,033 37 7 37 86 4 864 0 1,152 263 116 9 0 56 3 5,462 3,703 1,760 1,510 30 41 2
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH14 21.0 1,835 38 7 31 115 5 755 0 1,052 251 161 12 1 71 3 5,078 3,329 1,749 1,411 30 44 2
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH15 21.0 1,678 35 7 30 110 4 680 0 962 238 157 10 1 67 2 4,660 3,043 1,618 1,294 30 40 2
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH16 21.0 1,629 33 6 29 102 4 660 0 928 232 149 9 1 63 2 4,502 2,953 1,548 1,244 30 41 2
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH17 18.0 1,798 38 7 33 121 5 762 0 1,040 253 177 9 3 82 2 5,069 3,296 1,773 1,408 30 44 1
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH23 16.5 1,728 41 8 34 128 5 825 0 1,036 238 185 1 13 104 2 5,093 3,271 1,822 1,427 29 44 2
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH29 13.5 1,621 44 9 33 130 6 783 0 968 223 176 1 13 109 3 4,826 3,078 1,748 1,357 29 46 2
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH34 9.0 1,445 38 7 30 119 5 676 0 877 200 158 1 12 96 2 4,292 2,719 1,573 1,224 29 48 2
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH35 13.5 1,604 43 9 34 134 6 785 0 964 219 174 1 13 115 3 4,808 3,057 1,751 1,359 29 50 2
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
PAH39 9.0 1,411 39 8 30 123 5 689 0 844 193 155 1 12 108 3 4,242 2,687 1,555 1,201 28 44 3
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
Total 267.0
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
Average 1,769 37 7 32 114 5 760 0 1,024 239 157 9 4 75 2 4,957 3,243 1,714 1,380 30 43 2
------- ------ ---- ---- ---- ---- ---- ---- ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ------ ------ ----- ---- ----
Table key:
ppm parts per million
Ce Cerium
Dy Dysprosium
Er Erbium
Eu Europium
Gd Gadolinium
Ho Holmium
La Lanthanum
Lu Lutetium
Nd Neodymium
Pr Praseodymium
Sm Samarium
Tb Terbium
Tm Thulium
Y Yttrium
Yb Ytterbium
TREO Total Rare Earths Oxides
LREO Light Rare Earths Oxides
HREO Heavy Rare Earths Oxides
CREO Critical Rare Earth Oxides
NdPr Neodymium and Praseodymium
Th Thorium
U Uranium
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DRLVFLFFFLLBBBD
(END) Dow Jones Newswires
February 12, 2021 02:00 ET (07:00 GMT)
Rainbow Rare Earths (LSE:RBW)
Historical Stock Chart
From Apr 2024 to May 2024
Rainbow Rare Earths (LSE:RBW)
Historical Stock Chart
From May 2023 to May 2024