The Hartebeesfontein Chrome Project is situated in the North West Province of the Republic of South Africa.
Bauba has a 70% shareholding in the Hartebeesfontein project. Exploration is still to be conducted however, a high-level study and conceptual tonnage estimate was completed during 2018 and 2019 over the Brits Prospecting Right portion.
The Hartebeesfontein mineral rights areas are approximately 8 km south of Brits and 5 km north of Schoemansville, in the Magisterial districts of Bojanala Platinum District Municipality and Madibeng Magisterial District.
Bauba received a grant for a prospecting right to mine over thirteen portions of the Hartebeesfontein Farm. The prospecting right for Chrome and Platinum Group Metals was granted in March 2020. There are further environmental studies to be conducted per regulatory requirements.
Studies have been completed on the potential for opencast and underground mining of the chromite and PGE bearing layers, which are contained in the Middle Group of the Critical Zone, within the Rustenburg Layered Suite.
Overburden thickness is inferred to be three meters, or more, as the area occurs in the vicinity of the Crocodile River.
Approximate locality and areal extent of the MG 0 and 1 (Left) and MG 2A, 2B, 2C (Right) opencast and underground targets:
Approximate locality and areal extent of the MG 3 (left) and MG 4 and 4 A (right) opencast and underground targets:
The high-level study completed indicates Cr2O3 grades are in excess of 30% allowing for a highly prospective mining target.
The Hartebeesfontein Chrome Project would require minimal capital, operational and processing costs, in addition to providing a quick pay-back period.
It will be required to re-strategise the approach to the operation to ensure that the mining sequence is practical but also aimed at the optimised extraction. In order to optimise the process in moving forward, Bauba needs to conduct proper exploration to confirm geological interpretations.
The earliest time to execution of the project is being pursued and will require a significant amount of parallel activities to be done and close interaction with authorities. However, the focus will be to commence mining within the next 18 to 24 months followed by processing as permits and studies are completed.
New information on Hartebeesfontein will be provided once further material milestones have been met.
