69f7e0bd-b075-4300-ae20-09ddb6c1fbcd.pdf Quarterly Activities Report


For the Period Ending 30 September 2014



ASX/ RELEASE


24th October 2014


ASX code 'RVY'


Board of Directors:


Geoff Gilmour

Managing Director


Greg Cunnold

Technical Director


Graeme Clatworthy

Non-executive Director


Level 2/23 Barrack Street

Perth


Tel +61 8 9221 0090

Fax +61 8 9221 0095


ABN 86 121 985 395


HIGHLIGHTS:


Tanzania


  • Agreement on Tenements & Access at Kitongo


  • Commencement of RC drilling programme at Kitongo


  • Additional two holes added to RC programme


  • Assay results pending


    Angola


    • Professor Colin Roberts joins the team

Rift Valley Resources Limited (ASX: 'RVY') presents the following update on activities for the 3 month period ending 30 September 2014 (the 'Quarter').


Kitongo Project, Tanzania (Rift Valley 100%)


During the quarter drilling commenced at the Kitongo Gold Project in Tanzania. This is a major breakthrough at this highly prospective project where exploration has been prevented for a number of years due to the presence of illegal artisanal miners.

A 10 hole RC program commenced during the quarter with drilling focused on testing immediate extensions to the Main Zone mineralisation. This was the first opportunity for drilling at the Main Zone deposit since 2001 and is the first stage in assessing the full potential of the project.

As a result of negotiations with the Tanzanian Ministry of Minerals and Energy ('MEM'), the Company's tenements at the project have been renewed giving certainty of tenure to the large tenement holding. In exchange, the MEM has issued two Primary Mining Licenses ('PML') to allow small scale mining to be carried out legally at the site. The new PMLs encompass much of the area of the Mineral Resource at Kitongo. Joint venture negotiations between the Company and the PML holders are ongoing and although not concluded, access to the property has been granted to the Company to allow exploration to commence without impediment. There is currently no mining activity at the site and all artisanal miners have left the area.

BACKGROUND

The Kitongo gold project is located 90km south of Mwanza within the Lake Victoria Goldfields of Tanzania (Figure 1).


Extensive exploration at the Kitongo Project was carried out from 1994 to 2001. The work was very successful and led to the delineation of the 370,000oz Main Zone Inferred Mineral Resource (Table 1) as well as a number of other substantial gold prospects including the advanced prospects of Kitongo Hill and Isegenghe (Figure 2). A listing of significant intersections from the historic drilling is included in Appendix 2. At each of the prospect areas, high grade gold mineralisation has been intersected in numerous holes where mineralisation remains open and untested.


Figure 1: Rift Valley project location plan


Kitongo Initial Exploration Program


Rift Valley's initial work program focused on testing extensions to the Main Zone mineralisation which remains strongly open, particular to the north and at depth. The majority of the mineralisation at the Main Zone occurs within the Northern Shear (Figure 3). The most northerly RC hole drilled into the Northern Shear intersected 13m at 6.98g/t from 53m and ended in mineralisation.


A 10 hole program was drilled to test for immediate extensions to the north, west and at depth. The holes are shown in Figure 3 and representative cross sections are included in Appendix 1.


Figure 2: Kitongo area prospects

distributed by