Base Resources Limited (AIM:BSE, ASX:BSE) has provided an update on the mineral resources at its Kwale operations in Kenya and Ranobe in Madagascar.
The company said estimated mineral resources at Kwale were 205 million tonnes (Mt) as at 30 June 2022 at an average heavy mineral (HM) grade of 1.7% for 3.5Mt of contained HM, at a 1% HM cut-off grade.
The estimated resource represents a decrease of 49Mt compared to the 2021 estimate, which was due to mining depletion at Kwale South Dune and removal of low-grade material at Kwale North Dune after prospecting licence PL119 was reduced in size upon renewal, the company said in a statement.
Included within the Kwale mineral resources are the Kwale ore reserves, estimated to be 40Mt containing 1.1Mt of HM.
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Estimated mineral resources at Kwale South Dune were 28Mt, down by 26Mt from a year ago, containing 0.81Mt of HM, while ore reserves reduced by 18Mt containing 0.6Mt of HM.
Mineral resources at Kwale North Dune reduced by 23Mt lower to 171Mt containing 2.6Mt of HM, while Bumamani mineral resources were unchanged at 5.9Mt containing 0.115Mt of HM.
Turning to the Ranobe deposits in Madagascar, Base Resources said estimated mineral resources were 2,580Mt containing 111Mt of HM, which represented a 99% increase in material tonnes and a 68% rise in contained HM tonnes compared with the 2021 estimate.
Ore reserves at Ranobe were estimated to be 904Mt containing 55Mt of HM as at 30 June, an increase of 54% in material tonnes and 45% in contained HM tonnes compared with last year’s estimate.