Mermaid Highlights
- 22ENRC014: 5 meters @ 11.93 g/t Au from 66 metres; including 1m @ 38.8 g/t Au
- 22ENRC015: 1 meter @ 12.00 g/t Au from 74 metres
- 22ENRC017: 6 meters @ 49.30 g/t Au from 42 metres; including 2m @ 116 g/t Au
- 22ENRC018: 3 meters @ 4.20 g/t Au from 13 metres
Endeavour RC Drilling
CIO completed an 18-hole RC drilling programme for 1,060 metres at the
Gold mineralisation at
Figure 1 Gold mineralisation associated with the narrow quartz vein in 22ENRC017, with some bleeding of grade into the footwall intermediate volcanic.
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Figure 2 The Endeavour Vein as seen in RC cuttings from drillhole 22ENRC014. Note the significant footwall grade and lack of quartz veining in the chips.
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The results of the drilling program at
Figure 3 Pierce-point long section updated with recent drilling program (recent drilling highlighted in red)
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Figure 4 Cross section through the
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Table 1 Drill hole details and significant intersections from the 2023 Endeavour RC drill programme.
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Mining Studies
CIO have commissioned a suite of studies required to meet
SOUTH DARLOT GOLD PROJECT (
The Company’s
The British King Mine has now reverted to 100% beneficial ownership by the Company 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’sDarlot Mine .The British King Mine is currently in care and maintenance. CIO is registered on title for 49% and has received signed transfer forms fromBK Gold Mines Pty Limited toCentral Iron Ore Limited for the transfer of a further 51% interest as agreed.- The registration of unencumbered title of that 51% interest is being delayed by Silverstream SE22, who provided funding to
BK Gold Mines Pty Limited to fund their acquisition under the Tenement Acquisition Agreement. Silverstream SE22 has refused to remove the caveats which prevents registration of the transfers. CIO has commenced action in theSupreme 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 5 Locality map of the South Darlot project.
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RED 5
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 2 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
On behalf of the Board of Directors
“David Deitz”
____________________________
For further information, please contact:
www.centralironorelimited.com
Investor and Media Inquiries:
Direct: +61 2 9397 7555
Email:info@centralironore.com
Neither the
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO
Cautionary Note Regarding Forward-Looking Statements
This 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
![](https://ml.globenewswire.com/media/MjcxOWFhMWMtMTkxZS00YTA4LTlhYWEtOTE2ZjkxNzhmMDgxLTExMDczMjM=/tiny/Central-Iron-Ore-Limited.png)
Figure 1
![](https://ml.globenewswire.com/media/50924d81-29bc-4098-8932-b117352fa17d/medium/figure-1.png)
Gold mineralisation associated with the narrow quartz vein in 22ENRC017, with some bleeding of grade into the footwall intermediate volcanic.
Figure 2
![](https://ml.globenewswire.com/media/0fc0e17a-f3f5-4bf9-987d-bb08635ac38d/medium/figure-2.png)
The Endeavour Vein as seen in RC cuttings from drillhole 22ENRC014. Note the significant footwall grade and lack of quartz veining in the chips.
Figure 3
![](https://ml.globenewswire.com/media/96ced5b8-544b-4fc3-8706-222acba3cf7e/medium/figure-3.jpg)
Pierce-point long section updated with recent drilling program (recent drilling highlighted in red)
Figure 4
![](https://ml.globenewswire.com/media/a8c50fe1-66f9-48b8-b438-79a329833159/medium/figure-4.png)
Cross section through the Endeavour deposit.
Table 1
![](https://ml.globenewswire.com/media/0349df6e-87d3-4eee-9900-429b892b4f83/medium/table-1.png)
Drill hole details and significant intersections from the 2023 Endeavour RC drill programme.
Figure 5
![](https://ml.globenewswire.com/media/603cf240-d04f-4d3b-9aec-2eecf65f0380/medium/figure-5.png)
Locality map of the South Darlot project.
2023 GlobeNewswire, Inc., source