CEO Q&A with Martin Eales at Rainbow Rare Earths Ltd (LON:RBW)

Rainbow Rare Earths Ltd (LON:RBW) Chief Executive Officer Martin Eales caught up with DirectorsTalk for an exclusive interview to discuss their Phase I drilling update

 

Q1: Martin, I wanted to talk to you today about the announcement you put out this morning. Can you just remind us what that was?

A1: Well, as listeners and readers will be aware, we have started our first ever drilling campaign in the most recent quarter and we wanted to give an update to shareholders on the progress of that drilling campaign. So, what we put out today is some good news on mineral discoveries at the first high priority target at Kiyenzi which is an area about 2 kilometres away from where we’re currently mining.

 

Q2: Why do you consider this so positive?

A2: The really good news is that in fact we extended the number of drill holes that we put in the ground there because we made some discoveries. We drilled ten holes and five of them found significant mineralisation of rare earth elements and it’s in a breccia formation which for the uninitiated or non-geologists is really sort of dispersed vein material. We mined very clean and competent veins in our first mining area at Gasagwe but by definition they’re narrow whereas a breccia is much thicker. So, we’ve actually found intersections up to 2 metres thick which we hope will be much more amenable to mechanical extraction and therefore quicker and more cost efficient.

 

Q3: Given today’s news then, what comes next for Rainbow Rare Earths?

A3: So, what we have put in the announcement this morning is we still are finishing off the first phase drilling campaign, so we have four airborne identified magnetic anomalies which again we think could be potential carbonatite source of our rare earth veins.

Alongside that, before the end of June, we’re also going to do multiple lab testing of many samples of the drill core we’ve just taken out of Kiyenzi, just to confirm the extent of the mineralisation and hopefully more high-grade rare earths.

 

Q4: You mentioned targeted a resource by the end of this year, can you just summarise that for us?

A4: To target a resource, it’s more a function of more drilling and then using the code-compliant techniques to extrapolate a resource between all the extra holes that we’re drilling. Rainbow Rare Earths have committed this morning to that campaign based on what we’ve already found at Kiyenzi so we’re very confident, assuming the mineralisation is consistent as we hope, to being able to characterise a JORC or code-compliant resource in Q4 this year.

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Share on facebook
    Facebook
    Share on twitter
    Twitter
    Share on linkedin
    LinkedIn
    Rainbow Rare Earths Plc

    More articles like this

    Rainbow Rare Earths Plc

    Rare-earth elements spark resource war

    Rare-earth elements (REE) — also known as rare-earth minerals or rare-earth metals — are a group of 17 chemical elements of the periodic table. Although most of them are not terribly rare, they are highly strategic substances and

    Rainbow Rare Earths Plc

    Uses of rare earth elements

    As rare earth elements are a group of 17 elements with many irreplaceable properties, rare earth metals can be widely used in many areas including magnets, catalysts, metal alloys, electronics, glass, ceramics, new materials and some other high-technology fields. As essential and functional materials, rare earth

    Rainbow Rare Earths Plc

    Rare Earths outlook to 2029

    The rare earth industry continues to be an important part of not only the development and manufacture of high-end technologies, but also as a geopolitical tool in an increasingly unstable and unpredictable global market. Disruptions to supply chains

    Rainbow Rare Earths Plc

    Rare Earths – What are They?

    Rare earths are a set of 17 chemical elements in the periodic table, specifically 57 through 71.  Scandium and Yttrium are also considered rare earth elements because they tend to occur in the same ore deposits and exhibit

    Rainbow Rare Earths Plc

    Burundi: Quick economic recovery expected

    On 25 May, Burundi’s electoral commission announced that the ruling party candidate, retired general Evariste Ndayishimiye, had won last week’s presidential election with 69 percent of votes cast and an 88 percent turnout. The initial results make the

    Rainbow Rare Earths Plc

    US falters in bid to replace Chinese rare earths

    Rising tensions with China and the race to repatriate supply chains in the wake of the COVID-19 pandemic have given fresh impetus to U.S. efforts to launch a renaissance in rare earths, the critical minerals at the heart

    Rainbow Rare Earths Plc

    Rainbow Rare Earths further defines Gakara orebody

    London-listed miner Rainbow Rare Earths reports that, resulting from a recent structural and lithological review of its Burundi-based Gakara project, three large carbonatite bodies have been identified, representing the regional source of rare earth elements. The structural and lithological