(Alliance News) - Rainbow Rare Earths Ltd on Tuesday said results of its review of its Gakara project in Burundi have confirmed high priority areas of exploration.
Shares in the rare earth element miner closed 4.7% lower at 2.72 pence each on Tuesday in London.
Rainbow Rare said that the results of a structural and lithological review have confirmed the highest priority areas for the ongoing exploration programme, adding that trial mining and processing continue to show that high total rare earth oxide grade ore sourced from across the licence area have similar metallurgical and mineralogical characteristics.
Structural review and other historical mining and exploration data are being incorporated into 3D models of mineral resources and exploration targets in order to develop a wider understanding of the mineralised system.
"Since my appointment as CEO in August 2019 my focus has always been to develop a deeper understanding of the deposit to realise the enormous potential it has to offer. Understanding the structural controls that gave rise to the mineralisation is a key element to this. Incorporating this knowledge into our 3D mineralisation models alongside the existing mining and drilling data will allow our initial JORC resource base to better reflect our potential and help drive our future exploration activities in the correctly targeted manner," said Chief Executive George Bennett,
By Ife Taiwo; ifetaiwo@alliancenews.com
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Rainbow Rare Earths (RBW)