Drilling Results Finalised
ABN: 32 072 871 133
Central Iron Ore Limited
Suite 1, Level 2, 49-51 York Street, Sydney NSW Australia 2000
Tel. +61 2 9397 7521
NEWS RELEASE Symbol: CIO-TSXV
September 23, 2024 For Immediate Dissemination
Drilling Results Finalised
VANCOUVER, BRITISH COLUMBIA – (Marketwire – September 23, 2024), Central Iron Ore Limited (CIO
– TSX.V) (“CIO” or “the Company”) is pleased to announce this Drilling Update.
Central Iron Ore is pleased to announce that the results for the 2024 Phase 1 RC drilling campaign have been
finalised.
Figure 1. The sun sets after the first day's drilling of the 2024 Phase 1 RC campaign at British King (M37/30)
Highlights:
• Assay results for the 75-hole, 5 911-meter 2024 Phase 1 RC program has been received and processed.
• Multiple significant intercepts exceeding has been intercepted across the target area ( Table 1) some
notable intercepts include;
o 24BKRC_004: 5m @ 20.52g/t from 110 meters
o 24BKRC_007: 3m @ 28.26g/t from 96 meters
o 24BKRC_010: 2m @ 24.02g/t from 75 meters
o 24BKRC_015: 3m @ 35.61g/t from 58 meters
o 24BKRC_028: 7m @ 8.53g/t from 61 meters
o 24BKRC_017: 2m @ 2.44g/t from 80 meters
And: 1m @ 6.24g/t from 84 meters
And: 2m @ 26.7g/t from 93 meters
o 24BKRC_028: 7m @ 8.53g/t from 61 meters
• Commencing in late September, 321 metres of Diamond Drilling ( 6 drillholes) will t win selected RC
drillholes the showed exceptional gold endowment . The diamond drillhole core will provide invaluable
structural, mineralogical and metallurgical information
• The British King Mineral Resource is currently being updated to include the results of the recent drilling
Drilling Results
Interpretation of the RC drilling assay results has confirmed high grade gold mineralisation across the prospect
area (Figure 3). A clear geological understanding of the orebody has been developed with gold mineralisation
associated with a primary laminated bucky quartz lode with continuity for the entire 840 metres of strike targeted
by the drilling campaign (Figure 3 to Figure 6). The laminated vein is hosted at or close to the contact between
a felsic volcanic/sedimentary rock and intermediate volcanic rock. Mineralisation is open down dip and along
strike.
Figure 2. Section plan for the 2024 Phase 1 and historical drilling
Quality Control/Quality Assurance (“QA/QC”) Statement
Reverse Circulation (RC) drilling samples were collected for every metric meter (m) downhole of the 2024 RC
drill program. Sampling was done using a cone splitter mounted on the drill rig cyclone and stored in pre -
numbered calico bags (single splits), sample size ranged from 2 to 3kg per meter.
Single splits of mineralized intersections up to 3m either side of the expected ore zones were selected for initial
assay. 4m composited scoop samples were taken from the residual piles over the remainder of the hole that
was not selected and submitted for initial assay. All un-assayed 1m split samples were temporarily left on site in
their respective calico bags; once the composite samples where assayed, corresponding 1m single splits of the
composite samples with grades greater than 0.40g/t were retrieved and submitted for assay.
Cyclone duplicate samples (twin samples) targeting mineralized zones were selected from predetermined
intervals and assayed to check for the representativity of the sampling method. A Certified Reference Material
(CRM) pulp, fine blank pulp and coarse blank was inserted at a rate of approximately every 1 in 25 samples, or
at a higher frequency to ensure every drillhole had a set of checks for its specific sample runs.
Four gold Certified Reference Materials (CRM) were used; Geostats G399 -5 (0.87g/t), Geostats G913 -7
(2.31g/t), Geostats G915-4 (9.16g/t) and OREAS 254b (2.53g/t). Assay samples were placed into shipping sacks
together with the CRMs upon completion of each hole. All assay samples were transported weekly in their
respective shipping bags to ALS Kalgoorlie, Western Australia. From drilling to delivery at the lab, all s amples
were maintained under the direct control and supervision of the on-site geological staff.
Upon arrival in ALS Kalgoorlie, the samples were prepared using ALS code PUL-23 (pulverize 3 kg split to 85%
passing 75 microns) and fire-assayed for gold using ALS Code Au-AA26 (50gm fire assay with AA finish). ALS
also inserts its own certified reference materials plus blanks and duplicates. All QA/QC results associated with
the assays reported herein are within expectation, where errors were observed, repeat assays were completed
to verify the results. ALS is accredited to ISO/IEC 17025 standards for spe cific preparation and analytical
procedures. For more information about ALS Geochemistry, please visit the company’s webpage at:
https://www.alsglobal.com/geochemistry.
Figure 3. Pierce Point Long section of the 2024 RC results
Figure 4. Section A-A': multiple significant high grade intercepts across multiple auriferous lodes have been identified
Figure 5. Section B-B': multiple significant high grade intercepts have been identified
Figure 6. Section C-C': multiple significant high grade intercepts across multiple auriferous lodes have been identified
Table 1. Significant Intercepts for the 2024 Phase 1 RC Campaign
Target Hole ID Hole
Depth Dip Azi
Collar Position Significant Mineralised Intercepts
Comments
Easting Northing ARL From To Interval Avg. Grade
(Au g/t) Metal (g*m)
British King - M37/30
24BKRC_001 58 -60 357 6908256 326841 445 46 47 1 1.29 1.29 1m @ 1.29g/t from 46 meters
and 51 53 2 7.13 14.26 2m @ 7.13g/t from 51 meters
24BKRC_002 86 -60 357 6908239 326842 445 64 70 6 1.30 7.80 6m @ 1.3g/t from 64 meters
24BKRC_003 19 -60 357 6908218 326841 445 - - - - - NSI - abandoned before lode intercepted
24BKRC_004 118 -60 357 6908198 326840 445 110 115 5 20.52 102.60 5m @ 20.52g/t from 110 meters
inc. 110 112 2 48.00 96.00 2m @ 48g/t from 110 meters
24BKRC_005 60 -60 357 6908256 326860 445 56 59 3 5.51 16.53 3m @ 5.51g/t from 56 meters
inc. 56 57 1 11.55 11.55 1m @ 11.55g/t from 56 meters
24BKRC_006 89 -60 357 6908239 326860 445 71 74 3 6.36 19.08 3m @ 6.36g/t from 71 meters
inc. 71 72 1 11.70 11.70 1m @ 11.7g/t from 71 meters
24BKRC_007 110 -60 357 6908217 326860 445 96 99 3 28.26 84.78 3m @ 28.26g/t from 96 meters
inc. 96 98 2 40.20 80.40 2m @ 40.2g/t from 96 meters
24BKRC_008 119 -60 357 6908197 326859 445 112 113 1 6.03 6.03 1m @ 6.03g/t from 112 meters
24BKRC_009 60 -60 357 6908256 326877 445 49 50 1 8.35 8.35 1m @ 8.35g/t from 49 meters
24BKRC_010 85 -60 357 6908241 326877 445 75 77 2 24.02 48.04 2m @ 24.02g/t from 75 meters
inc. 76 77 1 45.60 45.60 1m @ 45.6g/t from 76 meters
24BKRC_011 110 -60 357 6908220 326875 445 90 94 4 12.87 51.48 4m @ 12.87g/t from 90 meters
inc. 90 92 2 24.94 49.88 2m @ 24.94g/t from 90 meters
24BKRC_012 104 -60 357 6908237 326896 445 77 79 2 8.65 17.30 2m @ 8.65g/t from 77 meters
inc. 77 78 1 16.25 16.25 1m @ 16.25g/t from 77 meters
24BKRC_013 110 -60 357 6908220 326896 445 94 96 2 15.44 30.88 2m @ 15.44g/t from 94 meters
inc. 94 95 1 28.00 28.00 1m @ 28g/t from 94 meters
24BKRC_014 131 -60 357 6908202 326897 445 109 110 1 1.27 1.27 1m @ 1.27g/t from 109 meters
and 114 115 1 4.17 4.17 1m @ 4.17g/t from 114 meters
24BKRC_015 83 -60 357 6908260 326917 445 50 51 1 1.43 1.43 1m @ 1.43g/t from 50 meters
and 58 61 3 35.61 106.83 3m @ 35.61g/t from 58 meters
inc. 59 60 1 100.00 100.00 1m @ 100g/t from 59 meters
24BKRC_016 90 -60 357 6908239 326916 445 68 69 1 5.99 5.99 1m @ 5.99g/t from 68 meters
and 77 79 2 24.95 49.90 2m @ 24.95g/t from 77 meters
inc. 77 78 1 48.30 48.30 1m @ 48.3g/t from 77 meters
and 87 90 3 15.19 45.57 3m @ 15.19g/t from 87 meters
inc. 87 88 1 37.20 37.20 1m @ 37.2g/t from 87 meters
24BKRC_017 107 -60 357 6908220 326915 445 80 82 2 2.44 4.88 2m @ 2.44g/t from 80 meters
and 84 85 1 6.24 6.24 1m @ 6.24g/t from 84 meters
and 93 95 2 26.70 53.40 2m @ 26.7g/t from 93 meters
and 96 98 2 2.09 4.18 2m @ 2.09g/t from 96 meters
24BKRC_018 134 -60 357 6908200 326917 445 105 106 1 8.86 8.86 1m @ 8.86g/t from 105 meters
and 114 117 3 1.16 3.48 3m @ 1.16g/t from 114 meters
24BKRC_019 66 -60 357 6908277 326939 445 36 38 2 6.62 13.24 2m @ 6.62g/t from 36 meters
and 62 63 1 3.50 3.50 1m @ 3.5g/t from 62 meters