Frontier Rare Earths Ltd. (TSX:FRO) provided an update on the preliminary feasibility study (PFS) that is taking place at its South Africa-based Zandkopsdrift rare earth project, commenting that most of the required studies are now complete or are in an advanced stage. Work on the PFS began seven months ago and is expected to be complete in the first quarter of 2013.
As quoted in the press release:
The majority of the rare earth mineralisation at Zandkopsdrift has been confirmed to be contained in monazite, which is hosted in weathered carbonatitic phlogopite breccia (“CPB”) and rare earth enriched calcio-carbonatite dykes (“RED’s”) of up to 20 metres in thickness that have intruded the CPB. Assay results from the PFS Drilling Program confirmed the presence of extensive high grade rare earth mineralisation and the continuity of mineralisation from surface to an average depth of about 80 meters, with very high grades in excess of 10% and as high as 19.5% TREO identified in many holes.
The Company expects that the PFS Resource Estimate will result in the majority of the Zandkopsdrift mineral resource being upgraded to the measured and indicated categories and, on completion of the PFS, converted into proven and probable mineral reserves.