valuation of chipindo gold license...

Do so research folks...

CVI have just landed a massive coup here today.

So many prospects...imagine Australia after a civil war...and the first companies to get in peg Olympic Dam, Ranger, Mt Isa, Telfer, etc...all just sitting there in moth-balls, waiting to be reactivated.

Well, this is sort of how is is in Angola.

Anyway, I digress...

Chimpindo gold lease has been given a Geoscience rating valuation of US$57.50m

Highlights...

Chipindo - The Concession

The concession is located on the southern edge of the Lucapa Graben in SouthWestern Angola

Total concession area of approx. 2753 km2

Previous known gold presence in four main areas:


Chipindo - Four Main Areas

Cajanja - 12 metres, identifying grades of 3 to 50 g/t in the carbonaceous schists and greenstones

Chombo – Quartz veins containing free gold

Ciriva - auriferous gravels were exploited by
semi – artisanal means

Chibumbula - 0.2 to 4.4 g / m3 in the auriferous gravels


Further details...

Historical alluvial production from at least 3 localities

Historically reported gold grades from grab samples up to 418g/t Au

Structural and geological similarities with Nova Lima Group (Brazil) – Iron Quadrangle and Kalgoorlie district of Western Australia

28 exploration targets selected


Chinoindo in detail...

Four principal occurrences / deposits have been investigated during colonial times.

1. Chombo

This is located 28 km south of Chipindo and is also associated with an occurrence known as Cavissava.

Five samples of quartz containing free gold taken from a 1 – 4 metre wide auriferous quartz vein with unknown length (“the Chombo Vein�), averaged initially 418 g/t Au and 94 g/t Ag. These values could however not be repeated by subsequent more systematic sampling. Other haematite-rich samples from the vein assayed 6 g/t and 9 g/t. The samples are definitely not representative and have been taken from the surface but they prove the existence of available gold.

Other assays from various trenches cut across different quartz veins of unknown dimensions resulted in gold grades ranging from 0.2 to 16 g / t Au with associated Ag values in the order of 1 – 40 g/t. One mineralised zone is a breccia of 5 metres width.

The auriferous quartz veins show distinctive alteration (cavernous quartz, brecciation, ferruginisation) and are situated in volcano - sedimentary rocks of probably Lower Proterozoic age (Oendolongo). They appear to be controlled by basic intrusive or volcanic rocks, but probably also by black shale. There is strong pyrite development on the surface.

2. Chiriva

This is located 9 kilometres to the west of Chipindo. Mainly auriferous gravels were exploited by semi-artisanal means (mainly the Lumoma stream) with a reported production of 12.5 kg gold within 1947 – 1950. But reported was also the presence of gold found in boulders from a small fluviatile terrace. These boulders are described to consist of quartz blocks, altered silicified and ferruginous sandstone and altered dolerite. Exploration for primary gold has apparently not been attempted.

(Additional information from MHS files – gravel thickness 0.2 – 1.3 m, overburden 1.5 – 6 m, grades 1 – 1.5 g/m3)

3. Canjanja

This is located in the Cuenge River Region, 23 km SW of Chipindo and the main focus was on alluvial gold. Primary deposits are unknown, but systematic prospecting for primary gold has never been undertaken. In the neighbourhood of the auriferous gravels, a variety of rocks including granite, quartz – diorite, basic rocks (dolerite), rhyolite and Oendolongo (Lower Proterozoic) quartzite and vein quartz have been observed. Accordingly, the geology appears similar to that at Chombo.
Bedrock investigations around 1960 identified three quartz veins of unknown lateral and vertical extension. One borehole was drilled to a depth of 12 metres, identifying grades of 3 to 50 g/t in the carbonaceous schists and greenstones.

(Additional information from MHS files – The auriferous gravels had an average thickness of 0.2 – 0.6 m, 2 – 4 m of overburden and reported grades of 1 – 4 g/m3. Between 1973 and 1877, 1000 tonnes of sand were processed with a grade of 3 – 5 g/y).)

4. Chibumbula

Close to the head of the Navondira stream, 14 km NNE of Chipindo, which carried average values of 0.2 to 4.4 g / m3 in the auriferous gravels. Quartz veins within altered greenstones were discovered in the immediate vicinity of the enriched gold values. They were observed to contain disseminated gold mineralization. Systematic prospecting for primary gold however was not reported.

Other Occurrences.

Bale –10 km south of Chipindo. Disseminated gold mineralization associated with sulphide and limonite in Proterozoic schists.

Cuengue – 6 km SE of Chipindo. Three alluvial deposits and 9 auriferous quartz veins found in 1973.Vein strikes up to 700 metres long, the biggest of which (named RITA) was drilled to a depth of 15 metres. Quartz vein widths of 2.5 cm to 1 m were encountered grading 3 to 30 g / t.

The host rock was not analysed.


See reports here...

http://www.newportmining.com/images/Valuation%20Report.pdf

http://www.newportmining.com/images/newport%20preo.pdf

So much happened today...it will take weeks to take it all in...but with nothing else, we get 32% of all this immediately!

lol

Cheers!