Rift Valley Resources (ASX:RVY) has signed a term sheet with Mtemi Resources Group of Companies for the acquisition of additional tenements in Tanzania.
Recent drilling at its Kitongo Gold Project in Tanzania has intersected strong zones of gold mineralisation.
This confirmed that resource grade mineralisation continues at depth beneath the defined 370,000 ounce Main Zone resource.
It also identified a major new zone of shallow mineralisation in the South Limb position.
The new zone is outside the area of artisanal mining and remains open down dip and for at least 300 metres along strike.
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