TIDMBSE 
 
AIM and Media Release 
 
1 April 2021 
 
BASE RESOURCES LIMITED 
Kwale North Dune PFS Outcomes 
 
African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (Base 
Resources or the Company) has completed its Pre-Feasibility Study (Kwale North 
PFS) on the potential for the North Dune and Bumamani mineral deposits to 
extend the mine life at its 100% owned and operated mineral sands operations in 
Kwale County, Kenya (Kwale Operations).  The Kwale North PFS concluded that it 
is not currently viable to mine the entirety of these deposits primarily due to 
the combined low heavy mineral grade, high land acquisition costs and elevated 
slimes content and associated tailings disposal costs. 
 
The North Dune Mineral Resources are estimated at 194 million tonnes @ 1.5% 
heavy mineral and 37% slimes, and the Bumamani Mineral Resources are estimated 
at 5.9 million tonnes @ 1.9% heavy mineral and 21% slimes1.  The Kwale North 
PFS found the higher slimes content of the North Dune, relative to the 26% 
average slimes content of the Kwale South Dune currently being mined, would 
require a significant investment in additional tailings handling infrastructure 
and development of an innovative co-disposal methodology due to the lack of 
suitable tailings storage facility sites, materially increasing capital and 
operating costs. 
 
While the Kwale North PFS does not support mining of the entirety of the 
deposits, the Company has commenced an assessment of the potential feasibility 
for mining a higher-grade sub-set of the North Dune and Bumamani deposits, 
targeting low capital investment and the use of existing processing plant and 
tailings disposal capacity2.  Leveraging the work completed for the Kwale North 
PFS, the study phases for assessing this higher-grade option will be progressed 
on an accelerated timeline, with the results expected by mid-2021. 
 
[Note (1): The North Dune Mineral Resources estimate of 194 Mt comprises 119 Mt 
Measured, 73 Mt Indicated and 2 Mt Inferred Resources.  The Bumamani Mineral 
Resources estimate of 5.9 Mt comprises 3 Mt Measured, 2.6 Mt Indicated and 0.3 
Mt Inferred Resources.  Refer to Base Resources' market announcement "Updated 
Kwale North Dune and maiden Bumamani Mineral Resources estimates" released on 
19 February 2021, which is available at https://baseresources.com.au/investors/ 
announcements/.  Base Resources confirms that it is not aware of any new 
information or data that materially affects the information included in the 19 
February 2021 announcement and all material assumptions and technical 
parameters underpinning the estimates in the 19 February 2021 announcement 
continue to apply and have not materially changed. 
 
Note (2): A graphic showing the proximity of the North Dune and Bumamani 
deposits to Kwale Operations' processing plants has been omitted.  A full PDF 
version of this announcement, including this graphic, is available from Base 
Resources' website:  https://baseresources.com.au/investors/announcements/.] 
 
ENDS. 
 
For further information contact: 
 
James Fuller, Manager Communications and Investor  UK Media Relations 
Relations 
 
Base Resources                                     Tavistock Communications 
 
Tel: +61 (8) 9413 7426                             Jos Simson and Gareth Tredway 
 
Mobile: +61 (0) 488 093 763                        Tel: +44 (0) 207 920 3150 
 
Email: jfuller@baseresources.com.au 
 
About Base Resources 
 
Base Resources is an Australian based, African focused, mineral sands producer 
and developer with a track record of project delivery and operational 
performance.  The Company operates the established Kwale Operations in Kenya 
and is developing the Toliara Project in Madagascar.  Base Resources is an ASX 
and AIM listed company.  Further details about Base Resources are available at 
www.baseresources.com.au 
 
PRINCIPAL & REGISTERED OFFICE 
Level 1, 50 Kings Park Road 
West Perth, Western Australia, 6005 
Email:  info@baseresources.com.au 
Phone: +61 (0)8 9413 7400 
Fax: +61 (0)8 9322 8912 
 
NOMINATED ADVISOR 
RFC Ambrian Limited 
Stephen Allen 
Phone: +61 (0)8 9480 2500 
 
BROKER 
Berenberg 
Matthew Armitt / Detlir Elezi 
Phone: +44 20 3207 7800 
 
 
 
 
END

(END) Dow Jones Newswires

April 01, 2021 02:00 ET (06:00 GMT)

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