Cleveland Mining Company Limited (ASX: CDG) – $0.048
30 Mar 2015
Cleveland Mining Company Limited (ASX: CDG) has discovered an extensive zone of primary gold mineralisation less than 1.5km south of its operating Premier Joint Venture Gold Mine in central Brazil (Figure 1).
Figure 1. Location of new anomaly relative to Premier Gold Mine
The discovery was the result of field work within an area of anomalous gold-in-soil samples previously referred to by the company as the “Southern Anomaly”.
The new prospect is defined by outcropping mineralised rocks and extensive gold-in-soil anomalism together with coincident silver, copper, molybdenum, zinc, arsenic and cobalt soil anomalism suggesting a primary poly-metallic source.
A contour of gold anomalism measuring +200ppb gold has been identified over an area extending over 2km along strike up to the western tenement boundary and extending over 600m in width.
Wide spaced channel sampling has so far returned gold assays ranging from 0.1g/t to 1.3g/t gold. While these results do not represent economic gold grades, the company believes they are significant in the region and very similar to that found at the Premier Gold Mine. Multi element assay results are pending.
Geological mapping and sampling is currently in progress.
For further information, visit www.clevelandmining.com.au
Resources Stocks to Watch (RSTW) is the leader in research on over 680 ASX listed micro to small-cap mining stocks and commodities. We are independent and do not accept commissions. We tell it like it is. Our reports are researched by experienced geologists and resources analysts, the experts in the field.