Rainbow Rare Earths unveils maiden resource estimate for Burundi project
Source - SMW
Rainbow Rare Earths released a maiden mineral resource estimate for its Gakara rare earths project in Burundi, East Africa.
The total JORC compliant resource was over 1.2 million tonnes of ore, covering a 'small fraction' of the project, the company said.
Rainbow said it planned to 'rapidly' bring the Gomvyi Centre and Kiyenzi elements of the project into production during 2019.
'This deposit is open in all directions and is an extremely exciting prospect as it presents a new opportunity for Rainbow to further develop its mining and processing capabilities,' chief executive Martin Eales said.
At 8:28am: (LON:RBW) Rainbow Rare Earths Ltd share price was +0.38p at 5.25p