ABN: 32 072 871 133
Central Iron Ore Ltd.
#1641 Lonsdale Ave, Suite 869, North Vancouver, B.C. V7M 2J5
Canada
Tel. 604.988.8186 Fax. 604.357.5353
January 24, 2012 For Immediate Dissemination
CIO INCREASES IRON ORE LAND PACKAGE BY 250% VANCOUVER, BRITISH COLUMBIA - (Marketwire - January 24, 2012), Central Iron Ore Ltd. (CIO - TSX.V) ("CIO" or "the Company") is pleased to announce that it has applied for six new exploration licences at its Perinvale South Iron Ore Hub.The Company now has a total of 15 iron ore tenements covering 1,588km2 (refer table below) that are located within the Yilgarn Iron Ore Province ("Yilgarn IOP") in Western Australia, of which nine tenements are granted and six tenements are pending applications. The Yilgarn IOP is considered highly prospective, given its history of large-scale iron ore production, with the Cliffs Natural Resources-owned Koolyanobbing operation (formerly operated by Portman Limited) currently producing at a rate of approximately 8Mtpa of Direct Shipping Ore ("DSO"). The Yilgarn IOP is increasingly being recognised as an attractive location for the development of iron ore, given its proximity to rail and access to ports.
Yilgarn Iron Ore Project AreaHub | Tenement | Status | Area (km2) |
Perinvale South | E30/0414 | Granted | 93 |
Perinvale South | E30/0415 | Granted | 93 |
Perinvale South | P30/1084 | Granted | 1 |
Perinvale South | E29/0843 | Pending | 210 |
Perinvale South | E30/0434 | Pending | 126 |
Perinvale South | E30/0435 | Pending | 207 |
Perinvale South | E30/0439 | Pending | 156 |
Perinvale South | E30/0440 | Pending | 54 |
Perinvale South | E30/0441 | Pending | 210 |
Hub | Tenement | Status | Area (km2) |
Perinvale North | E57/0818 | Granted | 120 |
Windarling | E77/1820 | Granted | 12 |
Windarling | E77/1737 | Granted | 42 |
Diemals | E77/1749 | Granted | 111 |
Diemals | E77/1757 | Granted | 114 |
Diemals | E77/1758 | Granted | 39 |
The Company believes its expanded Perinvale South Iron Ore
Hub provides a significant continuous platform for the
exploration of iron ore and will provide a new future phase
of growth for the Company.
The initial strategy and objective of the company is to
evaluate the occurrence of both magnetite ore and direct
shipping ore within the Perinvale South Iron Ore Hub and to
gain an initial understanding of their respective resource
potential. Work is currently underway on the Perinvale South
Iron Ore Hub and it is expected that future announcements
regarding both the project status and their resource
potential will follow as exploration activities are
completed. It is expected that rock chip sample analysis from
recent field mapping activities will be available in the
coming weeks.
Mr Brett Hodgins, President and CEO, said "These new
tenements have formed a significant land package at our
Perinvale South Iron Ore Hub which is now
1,150km2. The additional new tenements have
joined our two existing Perinvale South Iron Ore Hub
tenements together resulting in a continuous land holding
package in the region. This combined with our funding
reinforces CIO strategy to focus on future exploration
programs to identify sufficient DSO resources to support a
start up project.
CIO will have a booth at PDAC 2012 (Booth number 2842) and we
are pleased to invite shareholders and potential investors to
attend."
The Company is pleased to announce that Ms Katherine Garvey
has accepted a position as
CIO's Company Secretary. Mr Peter Treston has resigned from
the role of Company Secretary. The board wishes to thank
Peter for his contributions to CIO over many years.
Katherine is an experienced corporate lawyer with a focus on
the Energy & Resources sector, including advising public
companies on capital raisings, mergers and acquisitions,
corporate matters, sale and purchase agreements, company
secretarial, farm ins and joint ventures.
Mr. Andrew Spinks B.App.Sc, Grad.Dip (Mining), a member of
AusIMM, and a consultant geologist, is a Qualified Person as
defined in National Instrument 43-101 - Standards of
Disclosure for Mineral Projects ("NI 43-101").
On behalf of the Board of Directors
CENTRAL IRON ORE LTD.
"Brett Hodgins"
Brett Hodgins, President/CEO
For further information, please contact:
www.centralironorelimited.com
Investor and Media Inquiries: Capital Street Group
1641 Lonsdale Ave, Suite 869
North Vancouver, B.C. V7M 2J5
TOLL Free IR Line: 1-888-684-1183 Direct: (604) 988-8186
Email:info@capitalstreetgroup.com
This news release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding "CIO INCREASES IRON ORE LAND PACKAGE BY
250%". 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.
distribué par | Ce noodl a été diffusé par Central Iron Ore Limited et initialement mise en ligne sur le site http://www.centralironorelimited.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-25 00:43:38 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
Documents associés | |
CIO Increases Iron Ore Land Package by 250% |