Base Resources achieves FY23 production guidance
Melbourne, Victoria
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July 25, 2023 05:00 PM Eastern Daylight Time
Base Resources Limited (AIM:BSE, ASX:BSE) MD Tim Carstens talks Proactive through the company’s quarter ended 30 June 2023. He says prices in the period were steady for ilmenite and slightly lower for rutile, while zircon prices moderately increased. Mining volumes increased to 4.1 million tonnes following a stoppage in the prior quarter for the transition of half the mining operations to the North Dune.
The company noted in its quarterly that mining volumes increased to 4.1Mt following a stoppage in the prior quarter for the transition of half the mining operations to the North Dune.
Exploration drill results from Kwale East confirmed the presence of heavy mineral, with a peak drill hole grade of 6.3% heavy mineral, as well as a high value mineral assemblage. Three areas were identified for further targeted exploration as part of a second phase air core drilling program.
Results from the first phase of drilling at the Umba South exploration project in Tanzania confirmed rutile mineralisation was present but a number of factors were identified limiting the project’s economic potential, with further exploration activity paused pending receipt of assay results from a second phase infill drilling program.
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