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Rift Valley Resources Ltd.
Summary
| Project: | Longonjo | |
|---|---|---|
| Deposit: | Longonjo | |
| Location: | Angola | |
| Commodities: | Rare Earth | |
| Date: | 9/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-9-2017: Rift Valley Resources Ltd. announces a Resource Estimation report for its Longonjo deposit at the Longonjo project. Initial mineral resource estimate at Longonjo. Rift Valley Resources Limited (“the Company”) (ASX: RVY) is pleased to publish th | |
| Resources: | (Resource, Inf.): 44.7Mt @ 2.50% TREO for 1,120t TREO contained at project (1.0% TREO cut-off) | |
| CP/QP: | [Resources]: Heather King (Amec Foster Wheeler Plc) | |
| ABSTRACT: | Rift Valley Resources Limited (“the Company”) (ASX: RVY) is pleased to publish the maiden JORC Mineral Resource Estimate (MRE) for the Company’s 70% owned Longonjo Magnet Metals Project in Angola. Commenting on the maiden MRE, the Company’s Executive Chairman Mr Stephen Dobson said: “The announcement of the MRE is an important milestone in the development of the Longonjo Project as a potential lowcost producer of the “in demand” magnet metal products neodymium and praseodymium oxide. These excellent results will drive the company’s strategy to a development path with all potential options considered that will increase shareholder value. The company’s Australian and European shareholder base is well positioned to provide considerable support both corporately and financially moving forward as the company develops and exploits it’s magnet metals, copper and gold assets. The Company looks forward to announcing positive results from the ongoing Scoping Study in November in conjunction with the upcoming drilling results from the Cassenha Hill copper project”. The Inferred MRE is reported at a 1% cut-off grade and tabulations at various cut-off grades and material types are given in Tables 1, 2 and 3, with a detailed summary of the supporting data and methodology in, JORC Code 2012 Edition Appendix 1, provided at the end of the Press Release. The Longonjo MRE is based on the recently announced (ASX announcement 24th August 2017) diamond drilling results. Geological modelling and grade estimation were undertaken by Amec Foster Wheeler. The diamond drill (DD) and Rotary Air Blast (RAB) drilling grids are over an average length of ~780 north-south and ~395m east-west. Quality Assurance and Quality Control formed an integral part of the exploration process from drilling management, to shipment and analysis of the samples. | |
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