Base Resources Limited (AIM:BSE, ASX:BSE) is to proceed with development of the Bumamani project in Kenya, following the completion of a definitive feasibility study.
Mining at Bumamani will extend the life of operations at Kwale by 13 months to December 2024, once land access arrangements are finalised.
An additional 17.9mln tonnes of ore reserves will be mined to produce an estimated 42,000 tonnes of rutile, 171,000 tonnes of ilmenite and 20,000 tonnes of zircon.
Proceeding with the Bumamani project is a significant further step towards extending mine life at the Kwale operations and maintaining operational continuity, providing additional time to develop other opportunities in Kenya and the region.
All told, Base now expects to produce between 62,000 and 73,000 tonnes of rutile in fiscal 2023, alongside 260,000 to 310,000 tonnes of ilmenite and between 22,000 and 27,000 tonnes of zircon.
Separately, Base also updated the combined reserves number for Kwale North Dune and Bumamani.
The 2022 Kwale North Dune reserves and 2022 Bumamani reserves are presented together because of the close proximity of the underlying deposits.
They also underpin the decision to extend operations at Kwale.
The North Dune is estimated to contain 13.9mln tonnes at an average grade of 2.1%, for 290,000 tonnes of contained heavy minerals.
Bumamani is estimated to contain 3.9mln tonnes at an average grade of 2.3%.