RC Drilling
The RC drill programme targets two of the prospects located on M37/631 including
A total of 15 shallow RC holes have been designed targeting short scale gold mineralisation at the Mermaid prospect. The holes attempt to locate gold mineralisation along strike of PBERB002 which intersected 3 metres @ 13.03 g/t Au and up dip of WDRC011 which intersected 11 metres at 3.32 g/t Au. Other significant mineralised intercepts at Mermaid include WDRC0099 which intersected 5 metres @ 344.4 g/t Au.
Mining Studies
Once the RC drilling programme is completed, CIO intend to commission a suite of studies required to meet
Figure 1 Long section of the
Figure 2 Long section of the Mermaid deposit showing pierce points of the
SOUTH DARLOT GOLD PROJECT (
The
A number of tenements which are subject to a joint venture with subsidiaries of
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
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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.
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