Base Resources resource at Kwale sees small increase

Base Resources updated the market on its mineral resources and ore reserves at the 100% owned-and-operated Kwale operation on Tuesday, for the year to 30 June.

The ASX and AIM-traded company said mineral resources at Kwale were estimated to be 134.6Mt at an average heavy mineral grade of 4.2% and 26% slimes containing 5.62Mt HM, based on a 1% HM cut-off grade.

It said the estimate represented a small increase of 1% for total material tonnes and 2% for contained HM tonnes, over the previously reported 2015 Kwale mineral resources estimate, after allowing for depletion by mining during the year.

Contained within the mineral resources on 30 June were ore reserves estimated to be 102.5Mt at an average HM grade of 4.6%.

That, the board said, represented a small increase of 2% in total ore tonnes and a negligible change in contained HM tonnes, over 2015 and after allowing for depletion by mining during the year.