Base Resources updates reserves for new Kwale lease

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Base Resources Limited (AIM:BSE, ASX:BSE, FRA:B4Z) has restated its mining reserves to reflect production over the past year and to incorporate Kwale Special Mining Lease 23 in Kenya.


The new Kwale lease increases ore by 19Mt and contained heavy minerals by 0.6Mt and boosts the Kwale mine life to December 2023.


Following mine depletion, estimated South Dune Ore Reserves remain the same at 40Mt of ore but contained heavy mineral has reduced by 0.1Mt.


Kwale North Dune (announced on 19 February 2021) has an estimated 194Mt at an average heavy mineral grade of 1.5%, containing 2.9Mt of heavy mineral.


Kwale Bumamani has a further 5.9Mt at an average heavy mineral grade of 1.9%, containing 0.115Mt of heavy mineral.


Combined, the 2021 Kwale Mineral Resources, as at 30 June 2021, are estimated to be 254mln tonnes (Mt) at an average heavy mineral (HM) grade of 1.9% for 4.7Mt of contained HM, at a 1% HM cut-off grade.


At Ranobe in Madagascar, mineral resources are estimated to be 1,293Mt at an average HM grade of 5.1% for 66Mt of contained HM, based on a 1.5% HM cut-off grade.


The Ranobe Mineral Resources at 30 June 2021 are unchanged from the 2020 estimate

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