TIDMRBW
RNS Number : 7866W
Rainbow Rare Earths Limited
28 April 2021
Rainbow Rare Earths Limited
("Rainbow" or the "Company")
(LSE: RBW)
28 April 2021
Final Phalaborwa Assay Results Demonstrate Value of Rare Earths
Basket
Rainbow Rare Earths Ltd is pleased to announce the final assay
results from the auger drilling programme completed at the
Phalaborwa Rare Earths Project ("Phalaborwa" or the "Project")
located in South Africa, further to the publication of the initial
set of assay results on 12 February 2021, which confirm:
-- Average grade of 0.45% total rare earths oxide ("TREO").
-- Average combined grade of 0.13% Neodymium and Praseodymium
("NdPr") oxide, representing 28.9% of the TREO grade reported in
the rare earths basket.
-- Economic levels of Dysprosium and Terbium recorded, enhancing
the overall rare earths basket value contained in the stacks by
approximately 15%.
-- Low levels of radioactive elements present in the stacks.
The assay results, which are included in a table below, are
broadly supportive of previous indications from the Sasol sample
and test work programme. The assay results and average grades
reported (which incorporate previously announced holes) do not
represent a mineral resource estimate. Following the receipt of
these results and prior to the publication of a JORC (2012) Mineral
Resource Estimate, Rainbow will carry out an additional drilling
programme within the estimated +/-35 million tonne gypsum stacks to
confirm bulk density as well performing an updated topography
survey.
George Bennett, CEO, said: "These results further reinforce our
confidence in the considerable potential of Phalaborwa in South
Africa. The grades reported, augmented by the Dysprosium and
Terbium credits, highlight the substantial overall value of the
rare earths basket contained within these gypsum stacks, surpassing
our original expectations based on current rare earth prices.
In essence, although the average assay grade reported has
dropped from 0.50% TREO to 0.45% TREO, the overall value per tonne
of gypsum is 15% higher than we initially anticipated thanks to the
high value of the Dysprosium and Terbium ("DyTb"). The overall rare
earth basket price was expected to be dominated by the NdPr
content, which at current prices is valued at US$111/t gypsum based
on the assay values reported. The additional DyTb credit adds a
further US$36/t gypsum, significantly enhancing the recoverable
value of the rare earths from the gypsum stacks. Together, these
high value elements represent over 92% of the total value of the
Phalaborwa rare earths basket.
The Phalaborwa asset represents a fast-track development
project, with metallurgical test-work underway at ANSTO in Sydney,
to design an optimised processing circuit for recovery of a mixed
rare earth carbonate."
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
------------------ --------------------------------------
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 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 0.45% 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.
The Company's Gakara Project in Burundi, which produces one of
the highest-grade concentrates in the world (typically 54% total
rare earths oxides ("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.
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
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH06 12.0 1,411 32 6 32 101 4 652 0 763 346 125 12 1 65 3 4,253 3,950 303 1,060 31 57 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH07 16.5 1,768 44 8 41 138 5 867 0 1,009 233 205 15 1 97 3 5,302 4,884 417 1,416 27 51 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH12 13.5 1,526 38 7 34 110 5 692 0 800 360 135 13 1 83 3 4,558 4,210 348 1,137 30 60 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH13 21.0 1,521 40 7 36 122 4 738 0 878 201 183 14 1 85 2 4,582 4,212 370 1,236 28 48 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH18 12.0 1,436 36 6 34 102 4 665 0 790 349 133 12 1 73 3 4,361 4,040 320 1,108 31 60 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH19 21.0 1,519 41 7 37 124 4 751 0 878 203 189 14 1 84 2 4,607 4,236 371 1,237 28 53 3
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH22 12.0 1,365 37 4 28 100 3 602 0 762 179 146 11 0 75 2 3,965 3,656 309 1,070 28 57 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH24 10.5 1,474 38 7 36 110 4 718 0 871 265 152 13 1 73 3 4,502 4,165 337 1,208 30 50 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH25 19.5 1,635 41 7 34 104 4 686 0 938 180 147 12 1 65 2 4,614 4,294 320 1,277 28 45 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH27 19.5 1,432 37 4 29 108 4 636 0 815 191 153 12 0 73 3 4,184 3,864 320 1,133 28 40 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH28 18.0 1,250 34 3 26 95 3 553 0 702 168 131 11 0 72 2 3,653 3,358 295 993 28 51 3
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH31 12.0 1,651 43 7 34 101 4 683 0 947 174 139 12 1 63 2 4,619 4,305 314 1,287 28 43 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH33 7.5 1,334 37 7 28 82 4 550 0 768 141 110 10 1 61 2 3,752 3,478 273 1,060 28 42 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH36 4.5 1,337 37 7 28 81 4 547 0 766 142 110 10 1 60 2 3,748 3,476 272 1,057 28 34 3
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH38 16.5 1,533 38 6 31 92 4 626 0 897 163 130 11 1 60 2 4,301 4,012 290 1,215 29 20 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH40 13.5 1,618 40 7 30 105 4 783 0 810 284 116 11 0 77 2 4,658 4,328 330 1,138 28 39 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH41 16.5 1,563 37 7 28 97 4 688 0 781 250 115 12 1 84 3 4,395 4,072 323 1,106 28 47 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH42 15.0 1,557 35 7 29 97 4 605 1 780 171 131 14 1 80 3 4,213 3,891 322 1,102 26 49 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH43 16.5 1,417 34 7 27 91 5 554 1 707 156 120 13 1 81 3 3,854 3,542 312 1,013 26 47 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH44 9.0 1,445 33 7 29 93 5 572 1 722 159 124 14 1 74 3 3,929 3,624 306 1,024 26 42 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH45 7.5 1,010 32 6 25 103 4 428 0 708 138 133 11 1 61 3 3,181 2,889 292 982 31 32 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH46 18.0 1,536 35 7 33 100 5 606 1 782 169 134 15 1 83 3 4,204 3,869 334 1,113 27 53 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH47 15.0 1,563 44 7 30 138 5 788 1 1,182 238 233 14 1 37 4 5,108 4,781 328 1,527 33 58 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH48 13.5 1,409 38 7 25 119 4 699 0 1,071 216 200 12 1 35 4 4,582 4,293 289 1,381 33 55 3
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH49 18.0 1,651 52 8 39 117 5 691 0 804 170 128 15 0 94 3 4,522 4,129 393 1,178 25 48 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH50 18.0 1,240 32 6 29 119 4 535 0 845 167 161 13 1 65 3 3,846 3,525 321 1,154 31 53 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH51 6.0 1,010 27 5 24 99 3 429 0 702 138 131 11 0 50 2 3,142 2,881 261 952 31 29 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH52 22.5 1,654 43 6 32 95 4 699 0 725 148 119 13 0 91 3 4,358 4,014 344 1,064 24 53 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH53 15.0 1,311 41 6 28 128 4 663 0 1,001 203 221 14 1 45 4 4,376 4,056 320 1,321 32 49 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH56 27.0 1,617 38 8 34 119 4 791 0 866 328 147 14 1 72 3 4,838 4,492 347 1,201 29 65 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH57 10.5 1,650 49 10 35 106 6 693 1 739 152 128 16 1 114 4 4,440 4,034 406 1,122 24 57 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH58 6.0 1,338 39 7 20 102 4 756 0 782 281 112 11 0 69 1 4,211 3,911 300 1,080 30 35 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH59 13.5 1,368 36 8 32 122 4 578 1 807 165 155 13 1 82 4 4,037 3,679 358 1,139 28 57 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH60 15.0 1,586 45 7 35 136 5 945 0 1,088 340 203 14 1 81 4 5,357 4,971 386 1,479 31 56 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH61 15.0 1,753 47 7 38 132 5 1,226 0 1,146 495 156 14 1 95 3 6,111 5,706 405 1,572 32 56 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH62 16.5 1,581 43 6 34 118 4 1,005 0 1,003 393 139 13 0 79 2 5,282 4,926 356 1,376 31 41 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH63 13.5 1,567 39 6 28 81 4 660 0 631 126 109 10 1 84 2 4,018 3,714 304 932 22 49 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH64 13.5 991 34 7 25 123 4 542 0 651 190 165 13 1 72 4 3,368 3,032 336 936 29 55 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH65 13.5 1,256 31 7 29 112 4 538 0 760 157 148 12 1 74 3 3,744 3,421 324 1,064 29 57 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH66 15.0 1,156 26 5 27 97 3 484 0 686 137 130 10 0 57 2 3,375 3,104 271 946 29 31 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH67 13.5 1,287 30 6 29 104 4 550 0 715 145 138 11 1 74 3 3,705 3,395 311 1,010 27 57 3
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH68 15.0 1,280 31 6 30 108 4 544 0 755 151 144 12 1 75 3 3,760 3,440 320 1,059 28 57 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH72 3.0 1,275 37 4 27 104 4 584 0 748 173 135 12 1 87 3 3,821 3,488 333 1,072 28 47 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH73 4.5 885 33 7 23 115 4 475 0 592 178 164 12 1 44 3 3,025 2,740 285 825 30 44 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH74 13.5 1,298 43 8 32 168 5 748 0 875 267 241 17 1 54 4 4,485 4,095 390 1,196 30 40 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH77 13.5 1,453 49 9 36 191 6 843 1 969 296 269 20 1 58 5 5,015 4,575 440 1,327 30 55 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH78 15.0 1,558 42 8 35 161 5 732 0 1,015 281 217 17 1 71 4 4,950 4,546 404 1,382 31 51 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH79 16.5 1,573 36 7 33 139 4 648 0 1,002 307 165 15 1 86 3 4,805 4,422 383 1,374 32 42 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH80 18.0 1,296 32 6 23 96 4 641 0 925 193 170 11 1 36 3 4,102 3,852 250 1,201 32 55 2
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH81 21.0 1,536 35 7 38 107 4 642 0 886 202 199 14 1 77 3 4,487 4,149 339 1,232 28 52 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH82 18.0 1,498 33 6 34 101 4 611 0 871 199 186 13 1 67 3 4,337 4,027 310 1,194 29 46 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH83 19.5 1,625 38 7 36 123 4 688 0 869 208 193 16 1 76 3 4,652 4,292 360 1,214 27 49 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH84 18.0 1,533 34 6 31 122 4 635 0 859 199 162 14 1 78 3 4,403 4,058 345 1,191 28 42 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
PAH85 18.0 1,404 30 6 29 119 4 590 0 865 185 157 13 1 66 3 4,150 3,831 318 1,176 30 48 1
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
Total 786.0
------- ------ ---- ---- ---- ---- ---- ------ ---- ------ ---- ---- ---- ---- ---- ---- ------ ------ ----- ------ ----- ---- ----
Average 1,468 38 7 32 114 4 677 0 852 219 158 13 1 73 3 4,375 4,039 336 1,182 29 49 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
DRLSEDFAWEFSESL
(END) Dow Jones Newswires
April 28, 2021 02:00 ET (06:00 GMT)
Rainbow Rare Earths (LSE:RBW)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Rainbow Rare Earths (LSE:RBW)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024