If anybody want's to read the article about Black Fire, which doesn't directly have anything to do with PCFG, here it is:
06/01/11
Black Fire Minerals (ASX: BFE) due diligence on the Longonjo Rare Earth Project in central Angola provided some 'highly encouraging' results, with the company entering into an option to purchase agreement for a 70% equity interest.
As part of the due diligence process, Black Fire conducted an 88 sample trenching, pitting and rock chip geochemical sampling program, which returned highly encouraging results.
The primary target was the Longonjo Carbonatite REE Prospect.
Black Fire said the prospect comprises a large rare earth element, niobium and phosphate soil geochemical anomaly with 0.5% cerium, and is in excess of 2 kilometres by 1.5 kilometres, and is currently open to the southeast.
Trenching results included:
- 17 metres at 3.72% total rare earth oxide (TREO), 4.3% phosphate and 0.29% niobium;
- 19 metres at 3.54% TREO, 4.3% phosphate and 0.30% niobium; and
- 16 metres at 1.60% TREO, 6.6% phosphate and 0.33% niobium.
The best bedrock pit samples included; 18.91% TREO, 11.54% phosphate and 0.32% niobium, and 18.06% TREO, 7.77% phosphate and 0.8% niobium.
Black Fire said that although the assays are dominated by light rare earth elements, the tenor of the results are highly significant.
Of the 88 samples, they averaged 1.5% cerium oxide (peak 9.48%), 0.7% lanthanum oxide (peak 5.17%), 0.6% neodymium oxide (peak 2.77%), 0.2% praseodymium oxide (peak 0.87%) and 0.1% samarium oxide (peak 0.24%).
Adding to the potential for more encouraging results, a further 575 soil samples collected on a 100 metre by 100 metre spacings and covering the “open” southeast extension of the current soil anomaly are still pending, and are expected within two weeks.
Importantly, the project is close to infrastructure including the regional city of Huambo and road networks, as well as the recently recommissioned railway to the port city of Benguela, which passes less than 3 kilometres from Longonjo Carbonatite.
In addition to the Longonjo REE Prospect, copper-gold-uranium-iron mineralisation and historical mine workings have been discovered at the Cassenha Hill Prospect which is located within the project.
The best rock chip assay results include 9% copper and 6g/t gold.
To move the project forward quickly, Black Fire intends to immediately commence an aggressive systematic exploration program with early stage drilling at Longonjo planned to commence in July.
AI
