Cleveland encouraged by Minas itabirite outcropping
CDG Tue, 13 May 2014, 04:15 AEST
Cleveland Mining Company is pleased to announce that field evaluations have confirmed the correlation between multiple aeromagnetic anomalies and itabirite iron ore in the +1000 km2 Minas Novas project, in Minas Gerais State, Brazil, and that an orientation drilling program is to commence on the project in the next few days. The drill rig is currently being mobilised from the CDG and BC Iron Alliance?s Bahia projects where a successful first pass drilling program has just concluded. As with the Bahia projects, the Minas Novas project is held in a discrete entity in which the Alliance has an option to earn up to 80% of by way of achieving various development and payment milestones.
David Mendelawitz
Managing Director
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