Kenya could get a better estimate of the total deposits of rare earth minerals in Kwale County by June this year, a Canadian firm involved in their exploration at the Coast has indicated.
Pacific Wildcat Resources (PAW) said in a statement to its shareholders on Friday that it had discovered more deposits of Niobium and other rare earth oxides at its Mrima Hills site than earlier reported, and it is doing further tests to establish the quality of the deposits.
This drilling has the objective of both extending the current inferred niobium resource and to provide a maiden rare earth resource in the third quarter of 2012, said Darren Townsend, CEO of the company.
Mr Townsend said further drilling of the mineral had unearthered a bigger resource than had been earlier announced by David Anderson, the chief executive at Cortec Mining, who had estimated the reserve to be worth about Sh250 billion ($3 billion).
SOURCE
Pacific Wildcat Resources (PAW) said in a statement to its shareholders on Friday that it had discovered more deposits of Niobium and other rare earth oxides at its Mrima Hills site than earlier reported, and it is doing further tests to establish the quality of the deposits.
This drilling has the objective of both extending the current inferred niobium resource and to provide a maiden rare earth resource in the third quarter of 2012, said Darren Townsend, CEO of the company.
Mr Townsend said further drilling of the mineral had unearthered a bigger resource than had been earlier announced by David Anderson, the chief executive at Cortec Mining, who had estimated the reserve to be worth about Sh250 billion ($3 billion).
SOURCE
