VANCOUVER, May 8, 2013 /CNW/ - SIERRA IRON ORE CORP (the "Company") is
pleased to announce the results of assays of samples taken and sent for
laboratory testing. Two of the samples yielded greater than 55% Fe
content. The 3rd sample from the Mazomique property requires further testing.
The assays were carried out at the in-house analytical laboratory of
Trafigura in Manzanilla, Colima, Mexico. Trafigura is a leading
international commodities and logistics company with worldwide
interests in mining and mineral development.
"We are encouraged about the results from the iron ore samples," says
Wally Boguski, President and CEO. "Achieving greater than 55% Fe
content provides the company with a basis for developing strategic
options for the development and production for the company's
Each of the samples consisted of 6kgs of iron-bearing material
composited along lengths of 200 feet (61m) in magnetite pods and lenses
of up to 15 metres in thickness. Although the iron properties are
several kilometers apart, they possess a common style of mineralization
characterized by magnetite and hematite-rich bodies occurring in skarn
developed near the contact of Cretaceous limestone and younger
intrusive of either granodiorite or monzonite stocks and batholiths.
Further comparative samples are pending.
The company is pleased to announce that it will also grant 682,580
company Stock Options to various directors, officers and consultants,
with an exercise price of $0.40 cents per common share, for up to five
years. The options will been granted in accordance with the terms of
its 10-per-cent rolling stock option plan approved on December 7, 2010,
and the policies of the TSX Venture Exchange.
About Sierra Iron Ore
Sierra Iron Ore is a growth focused mineral exploration company creating
value through the exploration and development of the El Creston
property located in the Sinaloa State of Mexico. The company has a
continual fieldwork program at the El Creston Property that is
comprised of drilling, mapping, sampling and planning for further
property development. Roads have been built and upgraded as well as
equipment has been mobilized for further developing the known magnetite
zones identified by recent exploration work.
Sierra Iron Ore also has 100% ownership of the Tom Cat property which is
located 200 kilometres east-northeast of Vancouver within the historic
Aspen Grove copper camp. The company is currently conducting an
exploration program of geological mapping and sampling program as a
prelude to a planned diamond drill program.
On behalf of The Board of Directors of Sierra Iron Ore Corporation.
Paul Lee, Director
This news release contains certain forward looking statements which
involve known and unknown risks, delays, and uncertainties not under
the control of Sierra Iron Ore Corp. which may cause actual results,
performance or achievements of Sierra Iron Ore Corporation to be
materially different from the results, performance or expectation
implied by these forward looking statements. Neither 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 press release, which has been prepared
SOURCE: Sierra Iron Ore Corporation
For further information:
contact Corey Safran, Investor Relations, at 609-228-0595, or by email at firstname.lastname@example.org.