Peak Resources Limited reported the discovery of high grade fluorite and a new area of rare earth mineralisation at its Ngualla Rare Earth Project in Tanzania. With the Rare Earth Bankable Feasibility Study nearing completion, the Company continues to assess the potential for additional economic minerals within the Ngualla Carbonatite. Recent field programs in the previously unexplored alteration zone that forms a ring of hills around the carbonatite have identified zones of high grade fluorite mineralisation as well as new occurrences of rare earth mineralisation. Early stage reconnaissance rock sampling and geological mapping has identified a 3.8km long, largely soil covered, zone of brecciation and carbonatite dykes containing fluorite and rare earth mineralisation that warrants further evaluation. Field reconnaissance programs consisting of geological mapping and rock sampling in the hills surrounding the Ngualla Carbonatite have identified occurrences of high grade fluorite mineralisation as well as a new zone of rare earth mineralisation. The mineralisation occurs within the high temperature alteration zone that surrounds the intrusive carbonatite body. Geological mapping and the collection and analysis of 65 rock samples has to date identified fluorite mineralisation within a structural zone of brecciation intruded by carbonatite dykes that can be traced over a strike length of 3.8km within the alteration zone to the carbonatite. Peak is on track to complete the Bankable Feasibility Study for the Ngualla Rare Earth Project late in the first quarter or early second quarter 2017 and this remains the Company's priority focus and the main value driver for the project. The discovery of occurrences of high grade fluorite mineralisation reinforces the potential for supplementary value add commodities that may allow the company to diversify the products from a future rare earth operation at Ngualla, especially once on site infrastructure and an access road have been established.