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Rainbow Rare Earths: Significant Exploration Upside at Gakara Confirmed by Airborne Magnetic Survey
Nov. 28, 2017 09:20AM PST
Rare Earth InvestingRainbow, the rare earth element mining company, is pleased to announce an update on its Gakara Rare Earth Project (‘Gakara’) in Burundi, where first production and sales of rare earth concentrate are on schedule for Q4 2017. Gakara is one of the highest grade rare earth element mining projects globally, with an estimated in situ …
Rainbow, the rare earth element mining company, is pleased to announce an update on its Gakara Rare Earth Project (‘Gakara’) in Burundi, where first production and sales of rare earth concentrate are on schedule for Q4 2017.
Gakara is one of the highest grade rare earth element mining projects globally, with an estimated in situ grade of 47-67% Total Rare Earth Oxide (‘TREO’), and the Company is targeting a production rate of 5,000tpa by the end of 2018.
Martin Eales, CEO of Rainbow, commented:
“With the first shipment of Gakara concentrate imminent, we are encouraged by the identification of at least four highly prospective anomalies which could directly enhance the longer-term production profile of this project.
We have believed for some time that the high-grade Gakara veins must have emanated from a substantial carbonatite source and through our recent work we have established some extremely positive indicators for the locations of what may be multiple carbonatites within our licence area that will be a key focus for our near-term exploration campaign.”