Cleveland Mining encounters Brazilian iron ore

THE DRILL SERGEANT: Cleveland Mining Company (ASX: CDG) has completed its first pass drilling campaign on the Bahmex iron ore exploration projects in Bahia State, Brazil, as stage 1 of an earn-in process being undertaken by the Cleveland/ BC Iron (ASX: BCI) Alliance.

 

Source: Company announcement

 

Cleveland said the drilling program has intersected iron ore within the main target zone at the Caetite 2 projects, and encouraging intersections on all other prospects.

“This is an exciting result for the Alliance,” Cleveland Mining managing director David Mendelawitz said in the company’s announcement to the Australian Securities Exchange.

“We have started on the projects in Bahia, as opposed to the much larger projects in Minas Gerais, due to the Bahia projects’ close proximity to an open access railway currently being constructed and the extensive outcrop.

“The drilling clearly demonstrates that there is enough iron ore to justify further work on the projects.”

Cleveland said five prospects of the 26 tenements held in the package in which the Alliance has the option to acquire, have been drill tested to determine prospectivity and areas of focus for follow-up drilling programs.

All five prospects drilled, apart from Silvestre, have demonstrated to justify further work, which has now begun.

This will include metallurgical test-work, mine-gate point of sale studies and design of further drilling programs to delineate JORC resources.

Email: investors@clevelandmining.com.au

Website: www.clevelandmining.com.au