Rift Valley to Commence Drill Project at Longonjo

Rift Valley (ASX:RVY) announced it will commence a 9,000 metre drill programme designed to evaluate the potential for a globally significant high grade NdPr deposit at its Longonjo Project located close to major infrastructure in Angola.

The two phase programme, which is scheduled to commence in late August with first results expected six weeks later, will test an area of 2.4 km2 or approximately ten times the extent of the previously announced mineral resource estimate.

As quoted from the press release:

The high grade Mineral Resource estimate covers an area of 670 by 350 metres to a depth of less than 30 metres and has mineralization open in all directions. The programme will test the whole of the highly mineralized carbonatite and will enable an updated mineral resource estimate to be reported.

“China controls well over of 90 percent of the world’s production of NdPr which is the core metal used in electric motors for EVs, wind turbines and more generally in the electrification of modern society,” Chairman Paul Atherley said. “Currently there is only one listed NdPr producer in the world today (ASX:LYC), which sells most of its production to China. Dave Hammond and his team have designed this programme with the clear objective of delineating a globally significant NdPr resource at Longonjo.”

Programme Details

The current Mineral Resource estimate block model extends over an area of 0.24 km2 with mineralization open in all directions.

The two phase programme has been designed to test the whole of the highly mineralized carbonatite over an area of approximately 2.4 km2.

The first phase comprises 200 x 100 metre spaced drilling to an anticipated average depth of 45 metres over the entire carbonatite geological structure and associated soil anomaly.

Click here to read the full press release