Base Resources Limited (AIM:BSE, ASX:BSE) has reduced its 2023 mineral resources and ore reserves estimates for the Kwale South Dune, following mining depletion and related sterilisation during the year ending 30 June 2023.
The 2023 Kwale mineral resources estimate showed a decrease of approximately 21Mt (or 10%) in material tonnes, containing a reduction of 0.7Mt of heavy mineral (HM) compared to the 2022 estimate.
This reduction was attributed to the mining depletion and sterilisation of the Kwale South Dune Mineral Resources and the mining depletion of the Kwale North Dune Mineral Resources.
Kwale South Dune mineral resources are now estimated at 8.9Mt with an average HM grade of 2.2%, amounting to 0.19Mt of contained HM.
This represents a decline of 18.8Mt containing 0.61Mt of HM compared to the 2022 estimate.
Kwale North Dune mineral resources are estimated at 169Mt with an average HM grade of 1.5%, equating to 2.51Mt of contained HM.
This is a decrease of 2.4Mt containing 0.05Mt of HM compared to the previous year.
Mineral resources and ore reserves at the group’s Toliara Project based on the Ranobe deposit have remained unchanged from 2022’s estimate of 2,580Mt at an average HM grade of 4.3% for 111Mt of contained HM, based on a 1.5% HM cut-off grade.
Similarly, 2023 Bumamani mineral resources are unchanged from the 2022 estimate, with 5.9Mt at an average HM grade of 1.9% for 0.12Mt of contained HM.