South Darlot Gold Project: Phase 2 Soil Sample Programme
November 02 2022 - 10:15AM
Central Iron Ore Ltd. (CIO – TSX.V) (“CIO” or “the
Company”) is pleased to announce they have commenced the Phase 2
soil sampling programme at the South Darlot Gold Project.
CIO is pleased to announce that it has commenced
the second phase of soil sampling on tenements M37/631 and M37/632
to expand upon the successful Phase 1 programme announced in June
2022. This programme identified five coincident gold-copper-lead in
soil anomalies on or about the Emperor Structure and along strike
of the Endeavour Mineral Resource. In addition to the gold
anomalism, two lithium targets were identified characterised by the
presence of elevated Li and other elements associated with LCT
pegmatites (Rb, Cs, Be, Ta).
The Phase 2 programme consists of 3,870 soil
samples to be collected on the same tight sample density of 20mN x
30mE (Figure 1) and will target potential mineralised systems with
a similar size footprint of the Endeavour and Mermaid prospects
located on M37/631.
Figure 1 The three Zones (A, B and C) of
the Phase 2 Soil Sampling Programme with Au (ppb) anomalies from
the Phase 1 programme is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/77c767f5-bc01-4c08-8795-98742905f477
CENTRAL IRON ORE LIMITED
SOUTH DARLOT GOLD PROJECT (Western
Australia)
The Company’s South Darlot Gold Project area is
located approximately 320km northwest of Kalgoorlie in Western
Australia and includes:
- The British King Mine which is 100%
beneficially owned by the Company and which is National Instrument
43-101 – Standards of Disclosure for Mineral Projects (“NI43-101”)
compliant. The British King Mine is 5km southwest of Red 5
Limited’s Darlot Mine. The British King Mine is currently in care
and maintenance. The Company has commenced action in the Supreme
Court of Western Australia to have the caveats removed.
- A number of tenements which are
subject to a joint venture with subsidiaries of Red 5 Limited (“Red
5”), details of which are set out below, in which CIO has earned a
70% interest.
Figure 2 Locality map of the South Darlot
project is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/afb51cc9-09cd-4987-9ca4-cc6a3365549f
RED 5 JV Project (Formerly Barrick Joint
Venture Project)
The tenements set out in the table below (“Red 5
JV Tenements”) are the subject of a joint venture between a fully
owned subsidiary of the Company and subsidiaries of Red 5 Limited
(“Red 5 JV”) and are situated southwest of Red 5’s Darlot gold mine
and are contiguous with CIO’s current holdings in the area. The Red
5 JV Tenements are detailed below.
Table 1: List of South Darlot
tenements
Project |
Tenement |
Status |
Area (ha) |
Barrick JV |
M37/421 |
Granted |
381 |
Barrick JV |
M37/552 |
Granted |
200 |
Barrick JV |
M37/631 |
Granted |
776 |
Barrick JV |
M37/632 |
Granted |
595 |
Barrick JV |
M37/709 |
Granted |
98 |
Barrick JV |
M37/1045 |
Granted |
90 |
QUALIFIED PERSON
Mr. Andrew Bewsher who is a Member of the
Australian Institute of Geoscientists and has compiled the
information within this report relating to soil geochemical
distributions. Mr. Bewsher has sufficient experience relevant to
the style of mineralisation and type of deposit under consideration
and to the activity currently being undertaken to qualify as a
Competent Person as defined in NI 43-101.
On behalf of the Board of DirectorsCENTRAL IRON
ORE LTD.
“Brett Hodgins”____________________________Brett
Hodgins, President/CEO
For further information, please
contact:www.centralironorelimited.com
Investor and Media Inquiries:Direct: +61 2 9397
7555
Email: info@centralironore.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
THIS NEWS RELEASE IS NOT FOR
DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES.
Cautionary Note Regarding
Forward-Looking StatementsThis news release contains
forward-looking information within the meaning of Canadian
securities laws. Although the Company believes that such
information is reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking information
is typically identified by words such as: believe, expect,
anticipate, intend, estimate, postulate and similar expressions, or
are those, which, by their nature, refer to future events. The
Company cautions investors that any forward-looking information
provided by the Company is not a guarantee of future results or
performance, and that actual results may differ materially from
those in forward looking information as a result of various
factors, including, but not limited to, the state of the financial
markets for the Company’s equity securities, the state of the
market for iron ore or other minerals that may be produced
generally, recent market volatility; variations in the nature,
quality and quantity of any mineral deposits that may be located,
the Company's ability to obtain any necessary permits, consents or
authorizations required for its activities, to raise the necessary
capital or to be fully able to implement its business strategies
and other risks associated with the exploration and development of
mineral properties. The reader is referred to the Company's
disclosure documents for a more complete discussion of such risk
factors and their potential effects, copies of which may be
accessed through the Company’s page on SEDAR at www.sedar.com
ABN: 32 072 871 133
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