VANCOUVER, Sept. 13, 2012 /CNW/ - SIERRA IRON ORE CORP (the "Company") is pleased to provide an update on the drill program on the El Creston property and the upcoming sampling and mapping program on the Tom Cat property in Merritt, B.C.
The El Creston Property
The Company completed the construction on the access road to the El Veinte zone located within the El Creston property in May 2012 (see press release dated May 17, 2012). The construction included building new roads as well as the upgrade of existing infrastructure. The completed access road was used by the company to mobilize the drilling equipment to further develop the known magnetite bodies identified by prior exploration. On September 5th, 2012 the Company announced the first set of results from the El Veinte zone which intersected significant iron bands grading 30% iron ore or greater. The initial assay results of the six holes are highlighted by more than 66 meters of 30% iron or better including more than 33 meters of 45% iron or better.
The Company is continuing the work program and expects to announce further results in the near term.
The Tom Cat property
The Company is also very excited to begin work on the 100% owned, Tom Cat property, which is located 200 kilometres east-northeast of Vancouver and within the historic Aspen Grove copper camp. The property is comprised of eight contiguous mineral claims covering an area of 3,142 hectares. The Tom Cat property is also neighbors to the Big Kidd property that was recently optioned by Xstrata.
The Company expects to commence a program to collect samples and mapping in the coming few months.
"We are very encouraged by the results of the first series of holes to be drilled on the El Veinte zone of the El Creston property", stated Wally Boguski, President and CEO. "We look forward to beginning our work program on the Tom Cat property. The prospect of having two economically viable properties is very encouraging."
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 Sinoala 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.
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 by management
SOURCE: Sierra Iron Ore Corporation
For further information:
Corey Safran, Investor Relations, at 609-228-0595, or by email at [email protected].