AMN - ANGOLA: Maiden resource for Longonjo

A successful drilling campaign by Rift Valley Resources has delivered a maiden JORC resource for its Longonjo Magnet Metals Project in Angola. The combined inferred resource stands at 44.7 million tonnes at 2.5% total rare-earth oxides (TREO), including a from-surface resource of 11.6 million tonnes at 4.3% TREO.

The resource is split into two parts, oxide material and fresh material. The higher-grade oxide material overlies the fresh material throughout the deposit, mineralised from surface in every drill hole.

The average depth of the oxide zone is estimated at 20 metres below surface. Flat topography will lead to a very low strip ratio as feasibility studies continue.

The oxide zone measures 11.6 million tonnes at 4.30% TREO and the fresh zone measures 33.2 million tonnes at 1.87% TREO. Mineralisation is open in all directions and at depth.

The estimate forms the basis of a scoping study, which is expected to be complete in November.

Rift Valley's chairman Stephen Dobson said, “The mineral resource estimate is an important milestone in the development of the Longonjo project as a potential low-cost producer of the ‘in demand’ magnet metal products of neodymium and praseodymium oxide.”

Metallurgical test work is under way on composite samples of the diamond core. The oxide and fresh mineralisation types are being assessed for their potential for physical upgrading to produce a high-grade flotation concentrate.

Positive metallurgy testing to date and regional availability of reagents supports lower quartile operating expenses compared to peers.

Longonjo and Rift Valley's Cassenha Hill Copper Project are within the 70%-owned 3760sqkm greater Ozango Project. The Angolan government owns a 10% interest in the exploration licence.

Drill results from Cassenha Hill are expected shortly. Drilling is aimed at testing the extent of copper mineralisation delineated in the maiden drilling program during 2016.

www.riftvalleyresources.com.au