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RIFT VALLEY RESOURCES LIMITED

ASX: RVY

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Rift Valley Resources is a mineral exploration company with an exciting package of tenements in highly prospective areas of Tanzania and Angola.

Angola

During the half year the company announced that it had executed a sale and purchase agreement to acquire 100% of Sable Minerals Pty Ltd. The acquisition of Sable Minerals and its Angolan company subsidiaries will give Rift Valley the ownership of 70% of the Ozango Project, with the other 30% being held by the Angolan State and Nationals.

The Ozango Project consists of a single Exploration Licence (009/01/07T.P/ANG-MGMI/2011) that covers a huge area of 3,670 square kilometres. The property extends for 100 kilometres in an east-west direction and varies between 28 to 46 kilometres in width. The northeast corner of the property comes to within 17 kilometres of Huambo.

The Catabola copper-gold target area comprises an area of approximately 180km2 with two separately identified mineralized zones both trending northwest to southeast and approximately 5 kilometres apart.

The Longonjo rare earth elements target is located near the town of Longonjo in the north-central portion of the Project and is approximately 70 kilometres to the west of the city of Huambo. The Huambo to Benguela (deepwater port) railway that has recently been upgraded runs within 2 kilometres of the prospect; rail distance of the deposit to port is approximately 290 kilometres.

First pass reconnaissance geological mapping and concentrate panning has been undertaken by Aurum Exploration Services in the largely unexplored eastern third of the Ozango Project, known as the Bongo target area. This has defined a 10 kilometre long fault structure on a contact between metasediments and granite that is shedding visible gold into drainages. Historically identified tungsten occurrences also appear to be associated with the fault structure.

Tanzania

The Miyabi Gold Project is located approximately 200km southwest of Mwanza in the Lake Victoria Goldfields of Tanzania. The property, comprising 440 square kilometres of Prospecting Licences and Applications, has mineral resources contained in several deposits totalling 12.4 million tonnes at 1.3g/t gold.

The Kitongo Project is located approximately 90 kilometres south of the city of Mwanza in the Lake Victoria Goldfields, Tanzania. The property has a Mineral Resource delineated in 2006, in accordance with JORC (2004), totalling 7.82 million tonnes at 1.5 g/t gold, containing 370,000 ounces applying a 0.5 g/t cut-off grade. The resource is presently allocated as Inferred Mineral Resource Category.

The Nyangombe Project is located in the northwest of Tanzania, approximately 85km southwest of the city of Mwanza. It consists of contiguous licences with a combined area of 38.1km2. The project, approximately 5km north of African Barrick Gold’s Golden Ridge Project, is located on the Siga Hills and is underlain by the Archaean greenstone lithologies of the Nyanzian system.

Mine For

gold, nickel, rare earth elements,

Location of operation(s)

Tanzania, Angola

Address

Ground Floor 10 Outram Street
WEST PERTH, WA, Australia

Phone

+61 8 9221 0090

Email

Website


Last Updated

12/3/2015

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.