100% Title on British King Gold Project Secured for Registration
ABN: 32 072 871 133
Central Iron Ore Ltd.
Suite 1 Level 2, 49-51 York Street, Sydney 2000 Australia
Tel. +61 2 9397 7521
NEWS RELEASE Symbol: CIO-TSXV
21 September, 2023 For Immediate Dissemination
100% Title on British King Gold Project Secured for Registration
VANCOUVER, BRITISH COLUMBIA – (Marketwire – 21 September, 2023), Central Iron Ore
Ltd. (CIO – TSX.V) (“CIO” or “the Company”) is pleased to announce the settlement of
proceedings it commenced in the Supreme Court of Western Australia against SilverStream
SEZC.
The Company has held 100% beneficial ownership in its British King Mine Project since October
2020. As a result of the settlement, the Company will now be in a position to have its entire 100%
ownership of the British King Gold Project registered on the title of the relevant tenements.
David Deitz the CEO comments:
“We are very pleased that with the resolution of tenure and registration of 100% title . CIO can
continue to focus on the advancement of the British King Gold Project. Approximately 65% of the
resource is on M37/30 (CIO 100%) and 35% is on M37/681 owned by the Red 5 / CIO joint venture
(CIO 70%).”
British King Project
Gold mineralisation at British King occurs at or close to the contact between felsic volcanic/
sedimentary rock and intermediate volcanic rock. It is situated 600m north of the Gilmore dolerite
in a region with apparent low strain. It is possible the mineralisation may be associated with a
broad scale antiformal feature in the area.
Figure 1: Tenement map of CIO interests in the Dalot Mineral Field
The British King gold deposit was modelled with a 1 g/t cut off as a single dominant lode (Central
Zone) and 15 lesser lodes. The Central Zone has a strike continuity of 825m and dips 50 degrees
to the south. The plunge is believed to be shallow to the east. Historical production is tabulated
below although total production figures are unknown.
The NI43-101 Mineral Resource estimate for the British King deposit is provided in the table below
and is limited to a pit shell generated by CIO based on a long -term potential gold price of AUD
3,000/oz. This pit shell was used by CIO to define the likely limits of potential open pit mining. The
Mineral Resource estimate straddles the boundary of M37/30 and M37/631 and is reported
depleted for historical mining on both leases. Both cut and uncut grades are reported; the top cut
applied being 35 g/t Au. The British King Mineral Resource is classified as Inferred and further
work is required to improve the confidence category of this model including a campaign of RC
and diamond core drilling, multi element geochemistry, further metallurgical and density test work.
Lease Category Tonnes Au Cut Cut
Ounces
Au
Uncut
Uncut
Ounces
M37/30 Inferred 105,000 6.35 21,470 6.34 22,400
M37/631 Inferred 71,000 5.64 12,830 5.83 13,270
Total Inferred 176,000 6.06 34,300 6.30 35,670
Based on “NI43-101 TECHNICAL REPORT SOUTH DARLOT GOLD PROJECT UPDATED FOR
2022-2023 EXPLORATION WESTERN AUSTRALIA. Report Date: 18th May 2023 Effective Date:
18th May 2023 Lodged on SEDAR Date: 19 th May 2023. Qualified Person: Andrew Bewsher,
MAIG, BSc Geology.”
Figure 2: Mineral Resource within the optimised pit shell
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 Directors
CENTRAL IRON ORE LTD.
“David Deitz”
____________________________
David Deitz, Director/CEO
For further information, please contact:
www.centralironorelimited.com
Investor and Media Inquiries:
Direct: +61 2 9397 7521
Email: [email protected]
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 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 t he 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 lo cated, 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 an d 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.