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Base Resources updates on resource at Kwale South Dune

Base Resources has a well-established track record of successful operations in Kenya

Base Resources Limited -

Base Resources Ltd (LON:BSE)(ASX:BSE) has updated the resource at its Kwale South Dune project in Kenya to reflect a 5% reduction in material bulk density, following routine reconciliations undertaken between the resource model estimates and run-of-mine operating data gained since mining commenced on the South Dune in July 2019.

The resource has also been updated to reflect a reduction in the size of the prospecting licence and depletion due to mining.

On the basis of current ore reserves, mining is scheduled on the Kwale South Dune until October 2022.

The Kwale South Dune mineral resources is estimated, as of March 31, 2020, to be 88mln tonnes at an average heavy mineral grade of 3.1%, giving 2.7mln tonnes of contained heavy metals, at a 1% cut-off grade.

The 2020 Kwale South Dune resource estimate represents a decrease of 22% in contained heavy metal tonnes over the previously reported 2017 Kwale South Dune resource estimate.

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Price: 15.1 GBX

Market: AIM
Market Cap: £177.88 m

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