|
|
The Central West Hub in Region IV of Chile has a track-record for successful mining projects. It is linked to ports and smelters by rail and road infrastructure, is subject to excellent mining legislation, and is serviced by world-class mining contractors.
Cleveland has several Gold/Copper projects in the Central West Hub and is assessing several others to expand the hub and create economies of scale. Two properties held under Letter of Intent to Purchase Agreements (LOI) were investigated by Cleveland geologists over the last year. These LOIs were not converted into purchase agreements after preliminary investigation, and the properties were turned over and replaced with new prospects.
Project Selection
 Cleveland enters into projects based on local geology, identification of mineralisation and the potential for further mineralisation. In a well-developed, mining-focused country like Chile, grassroots projects currently offer the Company the best return on investment, particularly whist commodity prices are high.
Clearly not all projects will host an economic ore-body of sufficient size. Moreover, many economic ore-bodies cannot be identified within the budgets and timeframes that the Company is prepared to invest. Accordingly, projects are quickly and robustly assessed with solid field work to identify the likelihood of Cleveland being able to deliver a mine. Projects without a clear path to success are turned over, leaving other groups with different timelines, budgets or objectives to assess them instead.
This approach gives the Company the highest likelihood of success. Project vendors also win because they quickly gain a better understanding of the mineralisation on their landholdings.
|
|
