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;
    • 24BKRC_004: 5m @ 20.52g/t from 110 meters
    • 24BKRC_007: 3m @ 28.26g/t from 96 meters
    • 24BKRC_010: 2m @ 24.02g/t from 75 meters
    • 24BKRC_015: 3m @ 35.61g/t from 58 meters
    • 24BKRC_028: 7m @ 8.53g/t from 61 meters
    • 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
    • 24BKRC_028: 7m @ 8.53g/t from 61 meters
  • Commencing in late September, 321 metres of Diamond Drilling (6 drillholes) will twin 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 ResultsInterpretation of the RC drilling assay results has confirmed high grade gold mineralisation across the prospect area (Figure 3). A clear geological understanding of the ore body has been developed with gold mineralisation associated with a primary laminated bucky quartz lode with continuity for the entire 840m of strike targeted by the drilling campaign (Figure 3 to Figure 6). Mineralisation is open down dip and along strike.

Figure 2. Section plan for the 2024 Phase 1 and historical drilling

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
24BKRC_020 86 -60 357 6908258 326939 445 56 60 4 2.63 10.52 4m @ 2.63g/t from 56 meters
and             76 80 4 1.34 5.36 4m @ 1.34g/t from 76 meters
24BKRC_021 90 -60 357 6908240 326940 445 69 74 5 3.56 17.80 5m @ 3.56g/t from 69 meters
24BKRC_023 128 -60 357 6908200 326938 445 109 113 4 3.41 13.64 4m @ 3.41g/t from 109 meters
              122 123 1 6.16 6.16 1m @ 6.16g/t from 122 meters
24BKRC_024 80 -60 357 6908258 326957 445 54 56 2 13.98 27.96 2m @ 13.98g/t from 54 meters
and             73 76 3 9.47 28.41 3m @ 9.47g/t from 73 meters
inc.             73 74 1 33.00 33.00 1m @ 33g/t from 73 meters
24BKRC_025 98 -60 357 6908239 326957 445 74 77 3 6.45 19.35 3m @ 6.45g/t from 74 meters
and             90 92 2 4.07 8.14 2m @ 4.07g/t from 90 meters
24BKRC_026 78 -60 357 6908260 326976 445 53 56 3 6.97 20.91 3m @ 6.97g/t from 53 meters
24BKRC_027 83 -60 357 6908239 326978 445 78 79 1 1.76 1.76 Abandoned - flooded stoping intersected. 79m to 82m
24BKRC_028 80 -60 357 6908259 326997 445 61 68 7 8.53 59.71 7m @ 8.53g/t from 61 meters
inc.             61 62 1 49.20 49.20 1m @ 49.2g/t from 61 meters
and             72 73 1 3.07 3.07 1m @ 3.07g/t from 72 meters
24BKRC_029 80 -60 357 6908276 327179 445 - - - - - NSI
24BKRC_030 74 -60 357 6908276 327195 445 51 52 1 3.73 3.73 1m @ 3.73g/t from 51 meters
24BKRC_031 95 -60 357 6908256 327199 445 86 89 3 0.75 2.25 3m @ 0.75g/t from 86 meters
24BKRC_032 74 -60 357 6908298 327224 445     0   0.00 0m @ g/t from meters
24BKRC_033 95 -60 357 6908256 327218 445 88 89 1 0.89 0.89 1m @ 0.89g/t from 88 meters
24BKRC_034 77 -60 357 6908275 327240 445 70 72 2 2.02 4.04 2m @ 2.02g/t from 70 meters
24BKRC_035 95 -60 357 6908256 327241 445 85 86 1 1.09 1.09 1m @ 1.09g/t from 85 meters
24BKRC_040 69 -60 357 6908256 327021 445 - - - - - NSI, Abandoned - flooded stoping intersected. 69m
24BKRC_045 98 -60 357 6908238 327060 445 96 98 2 1.60 3.20 Abandoned after lode intersected
24BKRC_049 104 -60 357 6908238 327101 445 95 96 1 9.51 9.51 1m @ 9.51g/t from 95 meters
24BKRC_058 110 -60 357 6908239 327181 445 - - - - - NSI
24BKRC_062 65 -60 357 6908238 327219 445 - - - - - NSI, abandoned before lode intercepted
British King Extension - M37/631 24BKERC_001 36 -60 357 6908219 326735 444 25 27 2 2.31 4.62 2m @ 2.31g/t from 25 meters
24BKERC_002 56 -60 357 6908200 326736 445 46 47 1 1.05 1.05 1m @ 1.05g/t from 46 meters
24BKERC_003 30 -60 357 6908239 326755 445 20 22 2 11.72 23.44 2m @ 11.72g/t from 20 meters
inc.             20 21 1 21.40 21.40 1m @ 21.4g/t from 20 meters
24BKERC_004 53 -60 357 6908219 326755 445 44 45 1 2.56 2.56 1m @ 2.56g/t from 44 meters
24BKERC_005 35 -60 357 6908259 326776 445 18 19 1 3.39 3.39 1m @ 3.39g/t from 18 meters
24BKERC_006 53 -60 357 6908240 326776 445 36 40 4 1.69 6.76 4m @ 1.69g/t from 36 meters
24BKERC_007 89 -60 357 6908202 326778 445 66 68 2 4.01 8.02 2m @ 4.01g/t from 66 meters
and             74 76 2 4.55 9.10 2m @ 4.55g/t from 74 meters
24BKERC_008 44 -60 357 6908258 326795 445 33 36 3 4.84 14.52 3m @ 4.84g/t from 33 meters
inc.             34 35 1 11.35 11.35 1m @ 11.35g/t from 34 meters
24BKERC_009 60 -60 357 6908239 326796 445 50 51 1 3.54 3.54 1m @ 3.54g/t from 50 meters
24BKERC_010 80 -60 357 6908220 326797 445 68 69 1 7.69 7.69 1m @ 7.69g/t from 68 meters
24BKERC_011 47 -60 357 6908259 326815 445 27 30 3 1.19 3.57 3m @ 1.19g/t from 27 meters
and             40 42 2 2.13 4.26 2m @ 2.13g/t from 40 meters
24BKERC_012 65 -60 357 6908287 327252 445 - - - - - NSI
24BKERC_013 65 -60 357 6908289 327272 445 58 59 1 3.13 3.13 1m @ 3.13g/t from 58 meters
24BKERC_014 89 -60 357 6908267 327272 445 73 76 3 3.96 11.88 3m @ 3.96g/t from 73 meters
24BKERC_015 65 -60 357 6908289 327291 445 58 59 1 3.02 3.02 1m @ 3.02g/t from 58 meters
24BKERC_039 89 -60 357 6908268 327293 445 71 74 3 2.02 6.06 3m @ 2.02g/t from 71 meters
24BKERC_016 68 -60 357 6908283 327331 445 62 64 2 1.08 2.16 2m @ 1.08g/t from 62 meters
24BKERC_018 71 -60 357 6908288 327351 445 - - - - - NSI
24BKERC_019 68 -60 357 6908286 327370 445 - - - - - NSI
24BKERC_020 89 -60 357 6908267 327371 445 72 74 3 1.84 5.52 3m @ 1.84g/t from 72 meters
24BKERC_021 65 -60 357 6908287 327389 445 60 62 2 1.27 2.54 2m @ 1.27g/t from 60 meters
24BKERC_022 68 -60 357 6908288 327408 446 59 60 1 2.85 2.85 1m @ 2.85g/t from 59 meters
24BKERC_023 83 -60 357 6908270 327433 446 73 74 1 9.28 9.28 1m @ 9.28g/t from 73 meters
24BKERC_024 54 -60 357 6908287 327452 446 - - - - - NSI, abandoned before lode intercepted
24BKERC_025 62 -60 357 6908266 327453 446 - - - - - NSI, abandoned before lode intercepted
24BKERC_026 74 -60 357 6908285 327479 446 67 68 1 2.33 2.33 1m @ 2.33g/t from 67 meters
24BKERC_027 68 -60 357 6908289 327496 446 52 53 1 3.00 3.00 1m @ 3g/t from 52 meters
24BKERC_028 89 -60 357 6908268 327495 446 - - - - - NSI
24BKERC_029 56 -60 357 6908308 327514 446 35 36 1 2.09 2.09 1m @ 2.09g/t from 35 meters
and             40 41 1 10.45 10.45 1m @ 10.45g/t from 40 meters
24BKERC_030 68 -60 357 6908286 327514 446 59 60 1 53.30 53.30 1m @ 53.3g/t from 59 meters
24BKERC_031 89 -60 357 6908265 327534 446 77 80 3 6.34 19.02 3m @ 6.34g/t from 77 meters
inc.             79 80 1 17.45 17.45 1m @ 17.45g/t from 79 meters
24BKERC_032 74 -60 357 6908284 327553 446 - - - - - NSI
24BKERC_033 74 -60 357 6908286 327573 446 52 53 1 1.16 1.16 1m @ 1.16g/t from 52 meters
and             57 58 1 5.03 5.03 1m @ 5.03g/t from 57 meters
24BKERC_034 68 -60 357 6908220 326776 445 57 58 1 4.49 4.49 1m @ 4.49g/t from 57 meters
24BKERC_036 86 -60 357 6908221 326815 445 75 77 2 12.70 25.40 2m @ 12.7g/t from 75 meters
24BKERC_039 89 -60 357 6908268 327293 445 71 74 3 2.02 6.06 3m @ 2.02g/t from 71 meters
24BKERC_044 83 -60 357 6908266 327389 446 73 74 1 1.68 1.68 1m @ 1.68g/t from 73 meters

Diamond Drilling Commencing SoonTwinning diamond drilling of 6 selected high-grade interceptions will commence towards end September 2024 to obtain large volume, representative samples for structural, metallurgical and petrographic test work.

British King Resource UpdateThe British King Mineral Resource is currently being updated to include the results of the recent RC drilling. The Company’s 100% owned British King Mine Area has a NI43-101 Inferred Mineral Resource of 105,000 tonnes at 6.35 g/t Au for a total of 22,400 ounces.

The British King Extensions, 100% owned by the South Darlot Joint Venture in which the Company owns a 70% interest, has an NI43-101 Inferred Resource 71,000 tonnes at 5.64 g/t Au for 12,830 ounces at a gold price of $AUD 3,000/ounce. Both Inferred Resources have a top cut of 35 g/t Au (as per NI 43-101 report dated 18/5/2023 entitled “NI43-101 Technical Report South Darlot Gold Project Updated for the 2022-2023 Exploration Western Australia”).

Figure 7. British King Mine Area and Extensions

British King Project (Western Australia)The Company’s British King Project is located across the British King Mine situated on the M37/30 Mining Tenement, approximately 320km northwest of Kalgoorlie and 60km east of Leinster in Western Australia (Figure 8).

Figure 8. British King Project Location

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 the RC drilling programme. 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 DirectorsCENTRAL IRON ORE LIMITED

“David Deitz”____________________________David Deitz, Director/CEO

For further information, please contact:www.centralironorelimited.com

Investor and Media Inquiries:Direct: +61 2 9397 7521

Email: info@centralironorelimited.com

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.

Photos accompanying this announcement are available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/6e3e72f0-454a-43fc-a650-778ebbcb199bhttps://www.globenewswire.com/NewsRoom/AttachmentNg/29419020-fa7e-4a26-8e79-ad78cfac3dcfhttps://www.globenewswire.com/NewsRoom/AttachmentNg/fd8605ea-9290-45ce-bc2b-d39a00a6b45chttps://www.globenewswire.com/NewsRoom/AttachmentNg/7bb2f8ed-3e3e-4979-ae9d-4684a0f27badhttps://www.globenewswire.com/NewsRoom/AttachmentNg/b9f4590d-0957-47a6-b60a-0a7e7aec3c7bhttps://www.globenewswire.com/NewsRoom/AttachmentNg/f272b219-e017-40c6-99e9-2c5cc22c7986https://www.globenewswire.com/NewsRoom/AttachmentNg/2d55181d-29ba-4a0b-9265-92c5fb138333https://www.globenewswire.com/NewsRoom/AttachmentNg/782b7252-f03d-4a90-843f-83eb38dfec04

ABN: 32 072 871 133

Central Iron Ore (TSXV:CIO)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Central Iron Ore Charts.
Central Iron Ore (TSXV:CIO)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Central Iron Ore Charts.