www.blackfireminerals.com.au
Black Fire Minerals' (ASX: BFE) corporate strategy includes a Mining House structure that allows both direct participation in and investment within the resources industry. The company's primary commodity focus is gold, copper and strategic minerals.
Black Fire currently has three active projects, the Longonjo Rare Earth (REE) Project in Angola, the Mystique Gold JV in Western Australia and the Karibib Lithium Project in Namibia, and is actively assessing new opportunities in Australia, Asia, the Americas and Africa.
Black Fire Minerals to drill Longonjo rare earth prospect in September
Black Fire Minerals (ASX: BFE) has postponed the commencement of the drilling program at the Longonjo Rare Earth (REE) Prospect by several weeks due to administrative activities taking longer than anticipated.
The Longonjo Project in Angola, south-central Africa, is expected to deliver a significant REE discovery.
The company said the delay is necessary to allow for completion of in-country documentation and corporate set-up, including registration of an Angolan subsidiary and formalising the current binding heads of agreement with the Angolan partner into a comprehensive joint venture document.
Upon completion of the activities Black Fire, through its partner Sable Minerals Pty Ltd, will have "adequate in-country representation and the ability to avail itself of the investment incentives programs currently provided by the Angolan Government."
In July Black Fire's soil geochemical program results significantly extended the size of the previously reported rare earth elements (REE) anomaly at the Longonjo (REE).
Results defined a very large 3.5 kilometre long and up to 1.7 kilometres wide +0.5% 2REO (cerium + anthanum oxide) anomaly which remains open to the west.
The REE results have significant similarities to Peak Resources' (ASX: PKR) Ngualla Rare Earth Project in Tanzania which is roughly 12 months in advance of Black Fire.
