SINCORÃ AREA - HIGH GRADE DSO HEMATITE SIGNATURE EXPANDING
● Cabral exploration team have identified new high grade DSO hematite iron occurrences
● New surface sample assay results confirm high grade hematite iron mineralization (+65% Fe) with very low contaminants
● These new high grade hematite occurrences are approximately 2.0 to 2.5 km southeast from those previously announced in the southern portion of the SincorÃ¡ Area
● Assays pending on other zones of iron rich Canga and Laterite identified both north and south from first iron occurrences
● Exploration efforts continue with assessment programme in order to systematically evaluate the vast SincorÃ¡ Area ground holding
PROSPECTIVE HIGH GRADE DSO HEMATITE AREA IDENTIFIED AND SECURED BY CABRAL’S EXPLORATION EFFORTS
● Cabral has identified and pegged a broad prospective area located 90km NW of Brumado Town, in Bahia State, Brazil
● The SincorÃ¡ Area of mineral tenements has significant high grade DSO hematite iron ore occurrences
● Initial surface sample assay results confirm high grade hematite iron mineralization (+65% Fe) with very low contaminants
● Cabral’s exploration team has set an immediate assessment programme in order to systematically evaluate the entire ground holding
● It covers a vast area of over 931 km2 and a low acquisition cost of A$55,000 adds significant and immediate value for Cabral shareholders
● The SincorÃ¡ Area enjoys a privileged location to critical infrastructure with the existing and operating FCA rail line passing inside of the SincorÃ¡ Area and the new FIOL rail line scheduled to be located just 30 km away
● Logistics permit potential dual international export routes through either the existing Port of Aratu or the proposed Port Sul development
● The acquisition perfectly matches Cabral’s exploration focus towards low capital intensive, early cash flow high grade DSO hematite and itabirite orebodies
Not a bad little set up for CBS. Number of shares on issue is at the high end of the number I like to see, but option issues are virtually zero. Good MC:Cash ratio and having a project containing DSO in a reputable iron ore producing country like Brazil could lead to plenty of upside for the CBS share price.
As I mentioned this company elsewhere today, I thought this might put into perspective as to why.
Recent price momentum has been driven by industry insiders buying in big volumes. Several of these insiders were responsible for getting Stanmore Coal back in play when it was purchased for one cent (the entire company, and not the share price), several years ago.
The company's coal industry background is impressive.
I do not own any shares in this company, but will put a bid on some for around 3 cents.