CVI 0.00% 0.3¢ cvi energy corporation limited

re update on longonjo, page-3

  1. 2,527 Posts.
    ANGOLA: LONGONJO UPDATE
    Below is an update to the Longonjo Project geological report that was filed on February 1, 2008.
    Within the Longonjo metals licence area of 3,764 square kilometres, two key targets have been identified: Catabola (copper-gold) and Longonjo Carbonatite (rare earths). A double barrel wire line drill rig of 47.6 mm core size and manned by a Brazilian crew is now on site at Catabola.
    The dry season, which is the ideal drilling time, is April to October. However in order to fast track the programme and despite very difficult weather conditions, CityView successfully mobilised during the wet season.
    A test well is currently in progress, with JORC drilling due to commence later this month upon arrival of the Aurum geologists.
    Initially twenty exploration holes of up to 150 metres each will be drilled across Cassenha Hill, the main target area at Catabola. The mineralised zones at Catabola are represented by a number of parallel veins: the eastern group of veins run for approximately 350 metres along strike, with an overall width of 70 metres: in the west, a single vein outcrops for more than 650 metres with a width of 10-12 metres.
    The objective of the Catabola drilling programme is to test the extent of mineralisation to a vertical depth of approximately 150 metres.
    Level 9, 28 The Esplanade, Perth, Western Australia, 6000
    PO Box 5643 St George’s Terrace, Perth, Western Australia, 6831
    Telephone: (61-8) 9226 4788 Facsimile: (61-8) 9226 4799
    Email: [email protected] Web: www.cityviewcorp.com
    ABN: 59 009 235 634 ACN: 009 235 634
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    ASX / MEDIA RELEASE CityView Corporation
    Following the discovery of several new mineralised zones to the south of Catabola, a geological mapping and geophysical prospecting programme will also be carried out to extend the known mineralisation and find similar mineralised structures.
    Upon completion of the Catabola drilling, the rig will be moved to Longonjo Carbonatite for the drilling of eight exploration holes of approximately 100 metres each on the southern part of the Chimbulundu Hill.
    CityView controls a 79% working interest in Longonjo, with the remaining 21% held by Fortitude Minerals Limited (“Fortitude”). Fortitude has 41,543,885 shares on issue (US$1.39 per share) of which 7,518,885 are held by CityView.
    CityView plans to transfer its 79% interest in Longonjo and Ucua to Fortitude for an allotment of 15 million Fortitude shares. This will increase CityView’s holding in Fortitude to 39.4%, being 22,518,885 shares (Aus$34.6 million : US$31.3 million) out of a projected total of 57,193,885 shares. 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.
    Fortitude controls 15,000 square kilometres of prime mineralised areas in Angola which include five copper licences running along the western seaboard of Angola. With the arrival of a second rig, drilling of the principal target Cachoeiras de Binga is scheduled to commence by May 2008. The objective is to confirm the 6,000 metres of historical drilling to a JORC standard in order to complete a bankable feasibility for production of copper.
 
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