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CLEVELAND MINING COMPANY LIMITED

ASX: CDG

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Description

Cleveland Mining Company Ltd is an Australian managed, ASX listed minerals company focused on developing Brazillian resource projects into mines.

Current Projects

GOLD
Premier Gold Project

  • Mining and processing started in late 2012;
  • Target operating C1 costs of ~$400 per ounce;
  • ~76koz Indicated Resource delineated, mineralisation open in all directions;
  • Excellent near-mine exploration potential;
  • Premier abuts the 7+ million ounce AngloGold Ashanti Serra Grande Mine.


O Capitão Gold Project
  • Less than 10km from the Premier Gold Mine;
  • The company is applying for two Utilisation Guides, which would allow Cleveland to mine at O Capitão’s Prospects, Lavra and Dona Maria, and process the ore at Premier;
  • Multiple stacked lodes identified with significant high grade intercepts;
  • High grade material at surface and readily available for mining;
  • Approximate 95% of O Capitão area is largely devoid of drilling or sampling;
  • Seven conceptual targets have been identified outside the Lavra and Dona Maria prospects, of which only one has been drill tested, and this target is tested to a very minimal standard. Drill intersections include 2.9m @ 14.88 g/t Au and 1m @ 8.50 g/t Au;
  • Good drilling intersections remain to be closed off and the extent and tenor of intersected mineralisation quantified;
  • O Capitão lacks systematic, empirical geochemical coverage which would help prioritise target ranking, probably identify additional targets, and more precisely identify the surface expression of primary mineralisation, thus permitting more effectively drill targeting.
IRON ORE
Significant potential. Railways being built close to projects. Cleveland has earn-in Option Agreements for three iron ore projects in the eastern Brazilian states of Salvador da Bahia and Minas Gerais.

The Company believes the combined projects areas have the potential to host significant potential of itabirite iron ore type, which is typical of Brazil and highly sought after by the international steel industry.The projects are all close to rail infrastructure that is either under construction (Bahia) or proposed (Minas), and will connect to open access ports. The proximity to the infrastructure also reduces the minimum sized deposit required to justify the mine.

  • Large tenement holding in emerging iron ore provinces
  • Total of 1,264 km2 of granted exploration concessions  is held in Bahia (194 km2) and northern Minas Gerais (1,070 km2)
  • Strong government support

Bahia tenements

  • Multi-kilometres outcropping strike extent identified so far
  • Significant Iron Ore intersected in drilling over 6 prospects
  • Circa 100 million tonne potential
  • High grade concentrate produced at coarse grind size
  • Open access rail under construction

Minas Gerais tenements

  • 6 adjacent anomalies
  • orientation drilling completed
  • +1 billion tonne potential
  • New Open Access Rail Planned

Location of operation(s)

Brazil

Address

Suite 1, 41 Walters Drive
Osborne Park, WA 6916, Australia

Phone

+61 (08) 6389 6000

Email

Website


Last Updated

29/08/2016

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.