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Rainbow Rare Earths hails 'exceptionally thick' veins in Burundi
StockMarketWire.com
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Mining group Rainbow Rare Earths said additional high-grade rare earth elements mineralisation in 'exceptionally' thick veins had been reported at its Gakara project in Burundi.
The company said that grades of up to 50% total rare earth oxide were identified at Burima and Kivungwe - two targets originally highlighted in a geological study announced last May.
An ongoing trenching programme had uncovered breccia-type zones of mineralisation with widths of between 0.6 metres and 1.8 metres -- the widest high-grade zones uncovered within the licence area to date.
'These very positive exploration results further reinforce Gakara's significant potential as a 10,000 - 20,000 tonnes per annum concentrate producing operation,' chief executive George Bennett said.
Bennett said the company would continue to review the two targets, alongside other areas, to finalise a drilling programme.
Story provided by StockMarketWire.com
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