REG - Rainbow Rare Earths - Phalaborwa High Grade Assay Results
RNS Number : 8709ORainbow Rare Earths Limited12 February 2021Rainbow 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 Earths Ltd
Company
George Bennett
Pete Gardner
+27 82 652 8526
SP Angel Corporate Finance LLP
Broker
Ewan Leggat
Charlie Bouverat
+44 (0) 20 3470 0470
Flagstaff Strategic and Investor Communications
Tim Thompson
Fergus Mellon
+44 (0) 207 129 1474
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
IDLength
Ce
Dy
Er
Eu
Gd
Ho
La
Lu
Nd
Pr
Sm
Tb
Tm
Y
Yb
TREO
LREO
HREO
CREO
NdPr
Th
U
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
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