Base Resources Limited (LON:BSE) more than doubled its estimate of ore at its Kwale deposit in Kenya as the North Dune area was included for the first time.
Resources are now 285Mt compared to 134Mt a year ago, of which the North Dune contributed 171Mt. That included 136Mt in the indicated category.
South Dune resources were unchanged at 114Mt.
Reserves dipped over the past twelve months is Base mined out the Central Dune area and are now 62 million tonnes (Mt) at an average heavy metal grade of 3.8%. That amounts to 2.3Mt of contained metal.
Reserves are the portion of resources that have been proved to be economic to mine.
Base is developing the North Dune to replenish its reserves.
Resources at the Ranobe (Toliara) prospect in Madagascar rose to 1.29Mt at a grade of 5.1% heavy metals, which has resulted in a 25% increase in contained metal estimate at the site.