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Australian explorer increases ownership of Angolan copper and gold projects
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By: Rozanne Cloete
Published on 11th July 2008
ASX-listed gold and cop- per explorer CityView Corporation reported earlier this year that it has increased its holding in Australian explorer Fortitude Minerals from 3,2-million shares to 6,5-million shares.

CityView MD Mark Smyth says that, in order to consolidate its ownership of Fortitude, CityView intends to continue to lift its holding in Fortitude through a combination of share acquisitions and subscriptions.

At the appropriate time and subject to shareholder approval, CityView plans to transfer its Longonjo and Ucua interests in Angola for additional shares in Fortitude.

Fortitude has accumulated valuable mining interests in more than 15 000 km2 of prime mineralised areas in several parts of Angola.

It has five copper licences running for several hundred kilometres along the western seaboard of Angola, and encompassing the greater part of the Upper Cuvo formation.

Copper mineralisation has been reported along the entire length of the Upper Cuvo formation and the area has the potential to be a new copper province.

Fortitude’s other copper licences include Cachoeiras de Binga, in which over 6 000 m of core has been drilled. The explorer’s primary objective is to bring this resource to a Joint Ore Reserves Committee standard.

As part of the Upper Cuvo formation, the Chipindo gold licence area with its high gold grades was discovered during artisanal workings. Its geology is similar to that of the Minas Gerais gold area of Brazil.

Further, the Longonjo copper-gold-rare earths licence area contains the Catabola and Longonjo carbonatite projects. The Longonjo carbonatite project contains niobium, tantalum and uranium minerals.

At Catabola, copper and iron oxide mineralisation has been identified over a 1,6-km strike length. The drill rig is already on site and due to start drilling shortly, and the drilling programme will progress throughout most of 2008.

Another Fortitude prospect is the Ucua gold and beryllium licence area.

With Fortitude’s manage-ment team administering the Angolan metals projects, CityView’s management is free to develop its oil projects in Angola and Cameroon.

CityView is an Australia-based resource company, listed on the ASX in Australia, the over-the-counter bulletin board in the US and the Frankfurt Stock Exchange in Germany.

Editor: Esmarie Swanepoel