Cleveland Mining makes encouraging start to Brazil drill program
THE DRILL SERGEANT: Cleveland Mining Company (ASX: CDG) has drilled the first hole of a diamond drilling program at the company’s Premier North target in Brazil.
The drilling subsequently intersected approximately 60 metres of carbonaceous graphitic schist material, which its claims bears strong similarity to the gold‐bearing ore zones at both Cleveland’s Premier mine and AngloGold Ashanti’s (ASX: AGG) five‐million‐ounce Serra Grande mine, which is located less than one kilometre from Premier.
Cleveland is now waiting on assays that are being carried out in Santiago.
The first diamond hole at Premier North – Hole PGPDH 00166 – was designed to test the down‐dip potential of the Premier orebody by projecting its extension 3.5 kilometres to the north at approximately 700 metres depth, guided by historical drill logs.
Cleveland explained the hole intersected the same rock type, structures and sulphides associated with the orebodies at both Premier and Serra Grande.
Cross‐Section of interpreted mine sequence based on first drill hole
at Premier North, previous drilling by Cleveland and historical drill
records. Source: Company announcement
“The intersection is exciting because it provides greater clarity on the potential scale of the Premier project,” Cleveland Mining managing director David Mendelawitz said in the company’s announcement to the Australian Securities Exchange.
“The intersection is far thicker than outcropping Premier ore and appears to have very similar characteristics to Serra Grande ore, strengthening the view that there is potential for a significant resource at Premier.”
The company is planning infill drill holes to be conducted between the Premier orebody and hole PGPDH 00166 at Premier North to follow up the latest intersection.
Whilst the first hole was drilled in the Northern program, 19 additional holes were drilled around the existing ore‐body as part of the company’s initial program to expand the ore‐body.
Cleveland said results so far appear to be encouraging and more information will be released when it becomes available.