Exciting Drilling Update from Central Iron Ore Limited
Central Iron Ore Limited (CIO – TSX.V) has some thrilling news to share following its recent drilling campaign. This announcement highlights the outcomes from the Phase 1 RC drilling that took place during the 2024 exploration period.
Highlights from the Drilling Campaign
The 2024 Phase 1 RC drilling campaign involved a total of 75 holes, extending an impressive 5,911 meters. The results from this campaign are noteworthy, revealing multiple significant intercepts across the targeted areas.
Impressive Intercepts
Some of the standout results include:
- Hole 24BKRC_004: 5 meters at 20.52g/t from 110 meters.
- Hole 24BKRC_007: 3 meters at 28.26g/t from 96 meters.
- Hole 24BKRC_015: 3 meters at 35.61g/t from 58 meters.
These findings have established a clear geological model of the ore body, emphasizing the presence of high-grade gold mineralization linked to a primary laminated quartz lode.
Upcoming Drilling Plans
Looking to the future, Central Iron Ore Limited has plans to kick off 321 meters of Diamond Drilling, selecting six drill holes based on the remarkable gold presence noted in earlier explorations. This diamond drilling initiative aims to produce valuable structural, mineralogical, and metallurgical data.
Updating the British King Mineral Resources
In tandem with the drilling results, the British King Mineral Resource is being updated to reflect the new findings from the 2024 campaign. At present, the British King Site holds an NI43-101 Inferred Mineral Resource of:
- 105,000 tonnes at 6.35 g/t Au, equating to 22,400 ounces of gold.
New Discoveries at the British King Extensions
There’s also great potential in the British King Extensions, which report:
- 71,000 tonnes at 5.64 g/t Au, or 12,830 ounces of gold, part of the 100% owned South Darlot Joint Venture, where Central Iron Ore Limited has a 70% interest.
Diamond Drilling for Key Samples
Set to begin later this month, the diamond drilling will provide crucial insights into the mineralization processes and the structural geology of the area, enhancing the overall understanding of resource potential in the British King Project.
Overview of the British King Project
Operated by Central Iron Ore Limited, the British King Project is strategically located on the M37/30 Mining Tenement, around 320 kilometers northwest of Kalgoorlie. Its close proximity to existing mining infrastructure enhances the project's feasibility.
Qualified Person Review
Mr. Andrew Bewsher, a dedicated member of the Australian Institute of Geoscientists, has provided vital feedback on the technical aspects of this drilling program and meets the criteria of a Competent Person under NI 43-101.
Conclusion and Contact Information
CENTRAL IRON ORE LIMITED appreciates the ongoing support from its stakeholders. For further inquiries, please don’t hesitate to reach out directly at:
Direct: +61 2 9397 7521
Email: info@centralironorelimited.com
Stay tuned for future updates as Central Iron Ore Limited continues its mission of exploring and developing its valuable resources.
Frequently Asked Questions
What are the latest results from Central Iron Ore Limited's drilling campaign?
The recent RC drilling results show multiple significant intercepts, including up to 35.61g/t gold, indicating high-grade mineralization.
When will the diamond drilling commence?
The diamond drilling initiative is expected to start at the end of September 2024.
What is the current resource estimate for the British King project?
The British King Mine currently holds an Inferred Mineral Resource of 105,000 tonnes at 6.35 g/t Au, leading to approximately 22,400 ounces of gold.
Who can I contact for more information?
For inquiries, you can contact Central Iron Ore Limited directly at +61 2 9397 7521 or via email at info@centralironorelimited.com.
What is the significance of these results for investors?
These promising drilling results highlight the potential of Central Iron Ore Limited’s projects, offering investors insights into the company’s growth opportunities.
