11th Oct 2016 08:41
LONDON (Alliance News) - Australian mining company Base Resources Ltd updated its estimates of the mineral resources contained in its Kwale mineral sands project in Kenya on Tuesday.
AIM-listed Base said that, at June 30, it estimates mineral resources in the Kwale project to be 134.6 metric tonnes at an average heavy mineral grade of 4.2%, with 5.6 metric tonnes contained in tailings, based on a heavy mineral cut-off grade of 1%. The project contains ilmenite, rutile and zircon.
Base said the estimates represents a 2% increase in its estimated for tonnes of contained heavy minerals from its 2015 estimate, taking into account depletion via mining in the year.
Base said that contained within the mineral resources it estimates ore reserves of 102.5 metric tonnes at an average heavy mineral grade of 4.6%, as at June 30. Base said the estimate is a 2% increase in total ore tonnes.
Shares in Base Resources were down 2.5% at 9.75 pence Tuesday.
By Adam Clark; [email protected]
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