(Ecofin Agency) - Rift Valley Resources Ltd, a mineral exploration company listed on ASX, has displayed fruitful efforts during the year 2015, marked in Angola by ministerial approval in February 2015, of its mineral exploration contract and investment, without any modification.

The contract had been signed in 2014 between its subsidiary held at 70% by Ozango Minerais SA and the company Ferrangol EP entirely owned by the Angolan State.

According to Rift Valley, the contract had been negotiated on "mutually advantageous commercial terms" and gives it seven years of exploration of a range of ores including precious metals.

The Australian company, owning assets in Tanzania and Angola, has recently obtained encouraging results on elements from its Longonjo prospect in Angola which indicates a possible level of enrichment of these elements in total rare earth oxide in the order of 19.44%.

"We are extremely encouraged by this result and we are confident that this prospect of rare earths will reveal assets of value for our company", explained the Board in the company's activity report for the fiscal year ending last 30 June.

Longonjo is a prospect presenting a strong potentiality in rare earths contained in the vast Ozango project made up of an exploration licence covering 3670 km2. Rift Valley has demonstrated a mineralisation of rare earth elements of more than 300,000 m2 which display values of total rare earth oxide varying between 0.45% and 11.32%.

Rift Valley Resources Ltd controls 70% of the Ozango project in Angola, but 100% of the Miyabi project in Tanzania, holding 14.3 million tons of total mineral resources at 1.5 g/t of gold for 704,000 ounces.