Red 5 Joint Venture
After long negotiation Red 5 Limited and Central Iron Ore Ltd’s subsidiary
We are most pleased with this outcome and will now commence further development and exploration on these tenements.
SOUTH DARLOT GOLD PROJECT (
The Company’s
This mine, which was 49% owned by the Company, and which is National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI43-101”) compliant is 5km southwest of Red 5 Limited’s Darlot Mine and is currently in care and maintenance. Under the terms of Tenement Acquisition Agreement dated
The registration of unencumbered title of that 51% interest is being delayed by Silverstream SE22, who provided funding to
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/2c0d2872-c4e7-42d7-b43c-5ce33d4e3ac9
https://www.globenewswire.com/NewsRoom/AttachmentNg/d8a08a8c-4d4d-4e68-88f6-54f0c6b4384b
RED 5
The tenements set out in the table below (“Red 5 JV Tenements”) are the subject of a joint venture between 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.
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’s Statement
Mr
On behalf of the Board of Directors
“Brett Hodgins”
____________________________
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.
Figure 1
South Darlot Gold Project
Figure 2
South Darlot Gold Project
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