Sign up Australia
Proactive Investors - Run By Investors For Investors

Rift Valley Resources Ltd begins drilling at Tanzanian gold project

Rift Valley Resources Ltd begins drilling at Tanzanian gold project

Rift Valley Resources Ltd (ASX:RVY) has commenced a reverse circulation drilling program at the company’s 100% owned Miyabi Gold Project in Tanzania.

The Miyabi project is an advanced exploration tenement with 704,000 ounces of gold resource at 1.5g/t.

The recently completed data migration and geophysical interpretation of the project has identified the potential for repetitions of mineralization within the prospective corridor.

A 3,000 metre drilling program is planned with the primary aim of testing the strike extents of gold mineralisation delineated from the previous campaign.

Highlights from the previous drilling program include thick, high grade intercepts of 18 metres at 12.0 g/t gold from 46 metres and 16 metres at 12.0 g/t gold from 65 metres.

Rift Valley recently raised $1.5 million through a private share placement to Australian and U.K. investors.

The new funds will be used for exploration at the 100% owned gold projects in Tanzania and the 70% owned Ozango project in Angola.

The gold resource at at Dalafuma is currently 1,265,000 tonnes at 4.1g/t Au for 167,000 ounces.

Assay results from diamond drilling at Angola in April showed broad zones of copper including 24 metres at 1.23% copper from 12 metres.

The share price of Rift Valley has increased by 24% during the last three months.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

View full RVY profile View Profile

Rift Valley Resources Ltd Timeline

Related Articles

An aircore drill rig at the GT6 prospect of the Pinnacles Gold Project
April 19 2018
Nexus has only scratched the surface in seeking out a Karari-style deep plunging ore body.
Copper on the periodic table
March 08 2018
Historical high-grade ore stockpiles present an early cash flow generation opportunity.
Picture of lithium cycle
May 10 2018
The inferred resource at Sadisdorf in Germany now stands at 25 million tonnes grading 0.45% lithium.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use