Longonjo Carbonatite REE Prospect which comprises a large rare...

Longonjo Carbonatite REE Prospect which comprises a large rare earth element, niobium and phosphate soil geochemical anomaly which at 0.5% cerium (Ce) is in excess of 2km x 1.5km in dimension and is currently open to the southeast.

Longonjo represents an extraordinarily exciting early stage REE project that the Company is intending to advance as quickly as possible through aggressive drilling programs planned to commence in July.

While the ultimate significance of the prospect will not be known until drill testing has been undertaken, the combination of the scale of the soil anomaly (currently 2km x 1.5km and open to southeast) and the tenor of the rock chip, trench and pit results is considered highly encouraging for an early stage prospect and immediate drill testing is warranted. It is likely that in the Angolan weathering environment that a significant supergene zone may be present, significantly upgrading mineralisation in the near surface profile.

Black Fire intends to immediately commence an aggressive exploration program which will initially focus at the Longonjo REE Prospect. A first pass aircore drilling program, with an aim of commencing during July, is currently being planned to test the extent of the bedrock source of the large soil anomaly. This program will be followed up with RC and diamond drilling as warranted.

The prospect covers a Cretaceous age carbonatitic volcanic vent (Photo 1) and as such has the same geology as many other REE mines and prospects around the world including Mt Weld in Western Australia (Lynas Corp) and Ngualla in Tanzania (Peak Resources).