Cleveland set to investigate Brazilian targets

THE DRILL SERGEANT: Cleveland Mining Company is following up a number of drill targets it has identified as being, “worthy of further investigation”, on the company’s Porto Grande iron ore project in Amapá State, northern Brazil.

Cleveland has The Company has secured two diamond drill rigs to immediately commence reconnaissance drilling, which will remain on the project area for at least three months.

The company said recently completed geophysics, mapping and sampling had identified five initial drilling targets.

First pass exploratory drilling will be performed on all five target areas, with drill‐hole design determined via field observations.

“We came to Amapá last year and secured a 1300 square kilometre unexplored area linked to excellent infrastructure and surrounded by projects with significant iron‐ore mineralisation,” Cleveland Mining Company managing director David Mendelawitz said in the company’s announcement to the Australian Securities Exchange.

Within days of beginning the first pass of work we had found mineralisation with iron content as high as 63 per cent.

“The company is greatly encouraged by the geological fieldwork already performed on its tenements and has mobilised a larger team of focused professionals and a couple of drill rigs to begin to test the initial targets that we have generated.”

Cleveland is continuing with due diligence on another iron ore project over which it signed a non‐binding Memorandum of Understanding in February.

The Resource at this project is currently undergoing re‐modelled to a JORC standard whilst the Company works on a Binding Option to Purchase Agreement with the vendors.

Correction: The Roadhouse originally incorrectly reported this iron ore project
to be the Porto Grande iron ore project.

We apologise for any confusion this may have caused.