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Rift Valley Resources to spin drill to expand magnet metal project

Exploration within Ozango in 2018 will target Longonjo, Cassenha Hill and regional targets.

map of Africa with Angola marked
The Ozango licence is prospective for a range of mineral deposit types and commodities

Rift Valley Resources Ltd (ASX:RVY) has commenced field exploration programs for 2018 at its 70%-owned Ozango licence in Angola.

Significantly, the program includes drilling that will target resource extensions at the Longonjo Magnet Metal Project.

Longonjo contains a large new discovery of neodymium praseodymium (NdPr) mineralisation that’s part of the 11.6 million tonnes at 4.30% rare earth oxide (REO) JORC maiden resource.

READ: Rift Valley Resources stokes up coffers through gold asset sales to pursue Angola interests

Drilling at Longonjo will also aim to increase the JORC resource from the Inferred to Indicated category and provide samples for metallurgical test work.

This will provide data for the completion of a preliminary economic assessment that will include a revised resource and mining study.

The company believes Longonjo has the potential to become a globally significant magnet metal deposit in both size and grade.

Field work to explore potential of Cassenha Hill mineralisation

Exploration results to date have identified copper-gold mineralisation at surface extending over a 300-metre strike length at the Cassenha Hill Copper Gold Project also within the Ozango licence.

Exploration in 2018 will build on the nine-hole diamond drilling program completed in late 2017.

Rift Valley’s strategy is to define additional copper mineralisation with the potential to support a mining operation.

It aims to do this through the evaluation of the substantial strike extensions to Cassenha Hill as well as parallel mineralised positions as yet untested by drilling.

Regional exploration commenced within Ozango

The large 3,760 square kilometre Ozango licence is prospective for a range of mineral deposit types and commodities.

A regional stream sediment sampling program in early 2017 identified 13 high-priority targets areas for lithium, rare earths, gold, copper and other base metals.

Rift Valley plans to rapidly and cost-effectively evaluate all these target areas for their potential to host economically significant mineralisation.

It will do this through a combination of infill stream sediment sampling, geological reconnaissance and soil sampling programs that have now commenced.

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Rift Valley Resources tapping into growing electric vehicle magnet market

Chairman of Rift Valley Resources (ASX:RVY) Paul Atherley introduces the company to Proactive and discusses their upcoming drill programme at the Longonjo Magnet Metals Project in Angola. The 9000 metre program will drill an area ten times the size of the current JORC resource and will...

on 6/6/18

2 min read