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RIFT VALLEY RESOURCES LIMITED.

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Preparations for 9,000 metre drill programme progressing well and on schedule

Rift Valley (ASX:RVY) Newsletter 13 August 2018

Dave Hammond and the team in Angola have been making solid progress leading up to the 9,0000 metre drill programme at the Longonjo NdPr Project and is ontrack to commence late August. 

The team have advanced the detailed geological mapping of the 6 km² carbonatite, prepared cut lines for drilling and the Ground Penetrating Radar survey and installed accurate topographical survey points over the project area.
The support camp is being moved from Cassenha Hill to Longonjo and work is progressing well. The drill rig has now mobilised from Windhoek on route for Longonjo. We are very grateful for the support from our Government partners in assisting us with the cross border protocols. 

Kavita Kachipita Dr Wally Witt and Manuel Mandembue geological mapping of Longonjo. Mt Chimbilundo in background.


Rift Valley COO Dave Hammond commented "Our fantastic team on the ground has made solid progress with the pre-drilling field work and new camp construction in preparation for the commencement of the drill programme later this month.”

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QUARTERLY ACTIVITIES REPORT 

For the period ending 30 June 2018

ASX Announcement 1 August 2018

HIGHLIGHTS 

  • Senior Resource Executive Mr Paul Atherley appointed as Non Executive Chairman 
  • Renewed focus on the Longonjo NdPr Project 
  • 9,000m drilling programme to test the potential for a world class NdPr deposit at Longonjo. 
  • Drilling to commence in August 2018 
  • Over– Subscribed placement to raise $5.5m

Quarterly Activities Report 

Corporate overview 


Lead by a new Board and Chairman, the Quarter saw a re-emphasis of focus on the Longonjo NdPr Project in infrastructure rich Angola. 


Subsequent to quarter end, on 2 July 2018, the Company announced an over-subscribed placement to raise $5.5 million to fund a major exploration drilling programme and associated works at Longonjo designed to evaluate the potential for a globally significant high grade NdPr deposit. 


Preparations are well advanced for drilling to commence in August 2018. 


NdPr strategy at Longonjo 


The Company has a clear and focussed strategy to realise a valuable asset at Longonjo. 


Drilling and associated field and test work programs have been designed to determine the potential 

for a very large and high grade NdPr deposit that could rank amongst the world’s best NdPr Projects. 


The successful delineation of a large Mineral Resource estimate would allow the Company to identify and select the most favourable, highest quality mineralisation for development. Depending on final size, this may comprise only about 10% of the total Mineral Resource estimate but could still have the potential to support a mine life of many years. 


The definition of quality mineralisation at surface in the ‘free dig’ weathered zone combined with the favourable location of the Project close to modern infrastructure will create a valuable asset of global significance to the expanding NdPr market. 


NdPr and the clean energy revolution 


The move to clean energy and the electrification of mobility is driving increased demand for the speciality metals neodymium and praseodymium (NdPr), which are used in the electric motors of EVs, wind turbines and more generally in the electrification of modern society. 


From hairdryers to electric vehicles to grid scale wind turbines, electric motors will be at the core of 

our clean energy future.  

Figure 1: From buses to trains to trucks, drones, heating, cooling, industrial automation and robotics  

the electric motor will be the driver of our clean and automated energy future. 

Following a series of acquisitions over recent years, China now controls over 90% of the production of NdPr, which is essential for the manufacture of powerful electric motors. Currently there is only one listed NdPr producer outside of China (ASX:LYC), which sells most of its production to China. 

Following a short exploration programme in 2017 the Company announced a substantial Mineral Resource estimate (See ASX announcement “Maiden JORC Mineral Resource Estimate - Longonjo Project” of 26 September 2017 for further details). 

The shallow, high grade NdPr mineralisation (Figure 3) remains open in all directions, with only a tenth of the prospective carbonatite area drill tested to date (Figure 4). 

Click here to view the full announcement 

OVERSUBSCRIBED $5.5m PLACEMENT TO FUND 9,000 METRE DRILL PROGRAMME 

ASX Announcement 2 July 2018

Rift Valley Resources (ASX: RVY) has announced that it has received firm commitments from sophisticated and institutional investors to raise $5,500,000 to fund a 9,000 metre drill programme at its Longonjo NdPr project.

“We are targeting an increase in the size of the resource that will rank Longonjo
as one of the largest NdPr projects in the world, linked by world class
infrastructure to a major Atlantic port.”

Attention turning to Longonjo NdPr Project 
The clean energy revolution has resulted in a dramatic increase in demand for battery metals, notably lithium and cobalt. Attention is now turning to a very much larger market; the rapidly growing application of electric motors to virtually all walks of life.

From electric vehicles to grid scale wind turbines, electric motors will be at the core of our clean energy future.

NdPr motors are expected to become the dominant EV technology for years to come as powertrain motors featuring permanent magnets provide faster acceleration, reduced vehicle weight and additional space for other components.

Following a series of acquisitions over recent years China now controls over 96% of the production of NdPr metals, which are a key component in the manufacture of electric motors.

There is currently only one listed NdPr producer (ASX:LYC) in the world today and it sells most of its product to China.

Rift’s NdPr Longonjo Project is located in the infrastructure rich country of Angola. Following a short exploration programme in 2017 a substantial Mineral Resource estimate was reported.

The project is blessed with infrastructure that sets it apart from most other projects in the world. Located adjacent to a recently constructed US$1.8 billion rail line the project is linked to the major port of Lobito on the Atlantic coast which has recently undergone a US$2 billion refurbishment. Low cost power will come from a connection to the Gove 65 MW hydroelectric dam 38 kilometres away.

Chairman Paul Atherley commented:

“Dave Hammond and his team will commence a 9,000 metre drill programme later next month and we expect to be reporting results soon afterwards.

We are targeting an increase in the size of the resource that will rank Longonjo as one of the largest NdPr projects in the world, linked by world class infrastructure to a major Atlantic port.

We very much look forward to keeping you informed of the results from this exciting programme.”

Click here to view the full announcement

Mr. Paul Atherley Chairman
MrAtherley is a Mining Engineer from Imperial College London and has held numerous senior executive and board positions during his career. MrAtherley has developed strong connections within Chinese business, industry bodies and senior government officials, including the most senior levels of the state owned energy companies.

Mr. David Hammond Chief Operating Officer
Geologist with over 25 years international experience including 7 years as Technical Director with Peak Resources Ngualla
Rare Earth Project, Tanzania.

Mr. Mark Hohnen Non Executive Director
Founding Executive Chairman of Kalahari Resources Plc listed on AIM in 2006 for £15million and subject to a £651million takeover in 2012.

Mr Neil MacLachlan Non Executive Director
Internationally experienced Investment Banker, Funds Manager and PublicCompany Director. Director of Kalahari Minerals Plc and also Extract Resources which was also subject to a takeover, for US$2.2billion in 2012.

Mr. Scott Mison Company Secretary / Chief Financial Officer
Chartered Accountant with over 20 years experience in corporate and operations across Australia, UK, Central Asia, Africa
and the US.


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