2022_10_Press_Release_Soil Sample Phase 2
2022_10_Press_Release_Soil Sample Phase 2
ABN: 32 072 871 133
Central Iron Ore Ltd.
Suite 1 Level 2, 49-51 York Street, Sydney 2000 Australia
Tel. 61 2 9397 7555
NEWS RELEASE Symbol: CIO-TSXV
2 November, 2022 For Immediate Dissemination
South Darlot Gold Project: Phase 2 Soil Sample Programme
VANCOUVER, BRITISH COLUMBIA – (GlobeNewswire – 2 November, 2022), 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.
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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
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.
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Figure 2 Locality map of the South Darlot project
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
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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.
“Brett Hodgins”
____________________________
Brett Hodgins, President/CEO
For further information, please contact:
www.centralironorelimited.com
Investor and Media Inquiries:
Direct: +61 2 9397 7555
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 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