Rainbow Rare Earths discovers REE mineralisation at Gakara project

1 May 2018 (Last Updated May 1st, 2018 11:37)

Rainbow Rare Earths has discovered significant rare earth element (REE) mineralisation during its ongoing maiden drilling campaign at the Gakara rare earths project in Burundi.

Rainbow Rare Earths has discovered significant rare earth element (REE) mineralisation during its ongoing maiden drilling campaign at the Gakara rare earths project in Burundi.

The company encountered multiple intersections of breccia mineralisation up to 2m-thick during drilling operations at the project’s Kiyenzi target.

Preliminary testing also confirmed the presence of multiple intersections of high-grade REE.

"The discovery of REE-mineralised breccias is significant as it proves that the Gakara project has potential to include sizeable deposits over and above existing well-known vein stockworks."

The company is now preparing for the second phase of the exploration campaign in an effort to deliver a code-compliant resource by the end of this year.

Rainbow Rare Earths CEO Martin Eales said: “The majority of the drill holes completed to date have been focused on just the first of five targets at Kiyenzi, and we are excited to have already discovered new rare earth mineralisation, up to 2m-thick in some cases.

“The discovery of REE-mineralised breccias is significant as it proves that the Gakara project has potential to include sizeable deposits over and above existing well-known vein stockworks.”

Gakara is estimated to have an in situ grade of 47%-67% total rare earth oxide (TREO).

The company aims to increase production at the mine to an annualised rate of 5,000t per year by the end of this year.

The drilling of several anomaly targets at the site, which were found via an airborne magnetic survey, is also now underway.

Rainbow Rare Earths is currently slated to complete the task by June, while the results of laboratory sample tests from Kiyenzi are also expected to be received around the same time.