Cleveland takes up Brazilian iron ore prospect
8th Jun 2012
JUNE 8 – Innovative Australian junior Cleveland Mining Company has signed a binding option to purchase the Ferradura iron ore project in Amapa State in NW Brazil, where it sees significant potential to support a 5Mtpa operation.
MD David Mendelawitz says the project has abundant hematite and magnetite iron‐ore mineralisation along with the infrastructure and supportive government that are needed to build a robust operation.
Cleveland has begun engineering studies and is gearing up for metallurgical testwork and a major drilling program. Mendelawitz says it expects to develop a significant JORC‐code compliant resource for the previously‐drilled area within months while investigating many of the exploration targets.
Mendelawitz describes Amapa as one of the world’s best undeveloped iron ore addresses.
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