RNS - High Grade Assay Results12 Feb 2021 07:06
https://www.londonstockexchange.com/news-article/RBW/phalaborwa-high-grade-assay-results/14862624
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.”