Emerging Australian gold company, Cleveland Mining, today announced a large expansion of its gold tenements in the state of Goias in central Brazil. The announcement comes just months after it acquired three other projects in the Crixas goldfields, all of which neighbour tenements held by AngloGold, Kinross, Yamana and Vale, amongst others.
The newly-acquired, 33.5km2 Pantera project is highly-prospective for gold with its geology and mineralisation structure consistent with those found at Anglo/Kinross’
Managing Director, David Mendelawitz said today, “For Cleveland to have four high-potential projects only eight months after starting is particularly pleasing. It’s especially exciting when we see what’s happening just across the tenement boundary at the Anglo/Kinross JV of Serra Grande. They’re opening up their third mine and look to have a couple more up their sleeves.”
In 2007, Pantera was assessed by Brazil’s largest private mining company, Votorantim Metais Niquel, whose geologists identified the continuation of Serra-Grande-
“Votorantim was looking for nickel and surrendered Pantera because they didn’t find commercial quantities there. But in their Tenement Surrender Report their geologists noted that ‘the area has interesting potential for gold’, and the information we’re gathering suggests that they were spot on,” said Mr Mendelawitz.
The Crixas goldfield remains under-explored and under-exploited, with the organization, technology, modelling, drilling and mining techniques never reaching a level of sophistication required to fulfil its potential. Most mining in the area continues to be conducted by artisanal Garimpeiro miners, who exploit surface expressions of mineralisation with century-old mining methods.
“Crixas has suddenly become hot property. After 200 years of mostly low-tech mining in the area, Anglo and Kinross are building new mines, Yamana is developing the Caiamar deposit, and Cleveland sees high-potential in its own projects.”
“We are currently re-mapping, sampling, and drilling Cleveland’s other project sites. An all-out aggressive drilling program is planned for the near future.”
Cleveland Mining Ltd is an Unlisted Public Company with plans to list in 2010.
