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Cervantes Corporation pursues capital investment to expand existing and new projects

A revised inferred resource of 35,500 ounces gold and 23,740 ounces gold was calculated for the Alburry Heath Mine during the June quarter.

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Surface sampling to test regional targets at Albury Heath Gold Project were completed during Q2

Cervantes Corporation Ltd (ASX:CVS) has been pursuing capital investment by interested parties to expand and expedite exploration at its existing and new projects after raising $150,000 for additional capital.

The company also continues to assess submissions of various projects within Western Australia and elsewhere in several commodities including gold, lithium and vanadium.

Its board will provide details of any discussions when those opportunities firm up to an agreement with the vendors.

READ: Cervantes Corporation’s neighbour Ora Gold reveals high-grade copper and silver results

Cervantes has continued to assess the historic surface geochemistry at the Primrose Project in WA’s Paynes Find gold field during the quarter.

Several new surface sampling programs have been completed, with work targeting both potential Primrose Shear related gold occurrences as well as potential nickel-cobalt targets in the southern mafic suite areas.

 

 

The company spent a total of $27,000 on exploration and evaluation during the quarter, which included regional sampling at the Abotts Gold Project in the Murchison province of WA.

The purpose of the survey work was to sample lithologies to establish a base geochemical signature as well as test the mobile ion (MI) technique in this area.   

The MI soil geochemistry survey delineated at least five zones of gold, copper and nickel anomalism.

Quick facts: Cervantes Corporation Ltd

Price: 0.004 AUD

ASX:CVS
Market: ASX
Market Cap: $1.99 m
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