VANCOUVER, Oct. 11, 2012 /CNW/ - SIERRA IRON ORE CORP (the "Company") is pleased to announce that an exploration program of geological mapping and sampling program as a prelude to a planned diamond drill program has commenced on the Company's Tom Cat property which is located 200 kilometres east-northeast of Vancouver within the historic Aspen Grove copper camp. The property is comprised of eight contiguous mineral claims covering an area of 3,142 hectares. The Big Kidd property that was recently optioned and currently under exploration by Xstrata, adjoins the Tom Cat property to the north.
The Tom Cat mineral zone, one of nine MINFILE reported mineral zones on ground covered by the claims of the Tom Cat property, has been explored by prospecting and trenching since 1906. The predominant mineralization is hosted in green laharic breccia or basaltic flow breccia near the contact with red laharic breccia of the Upper Triassic Nicola group.
Garrow (2010) reports that the only significant results reported prior to 2006 was a drill intersection of 45.7 meters of 0.32% copper in a 1965 Pyramid Mining drill hole on the Tom Cat showing. Exploration work by Bold Ventures in 2006 & 2007 resulted in the delineation of viable chargeability IP drill targets and copper soil anomalies associated with mineral showings. A drill hole on the Tom Cat showing confirmed the historic result in the intersection of 4.4 meters of 0.54% copper in a 40 meter section of mineralization.
Please note that historic information cannot be relied upon until the information is confirmed.
As the many mineral showings on the property may be surface mineral leakage indicators, the first hole of the diamond drill program will be drilled to a projected depth of 500 metres to explore for a deep seated mineral zones hosted by an intrusive.
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 and equipment has been mobilized for further developing the known iron ore mineral zones identified by recent exploration work.
Sierra Iron Ore is currently finalizing an option agreement to acquire up to an 80% interest in a highly prospective iron ore property (the "Mazomique Property") comprising of one concession covering an area of 3,055.27 ha near the northeast boundary of Sinaloa and Chihuahua states. The Mazomique property has excellent infrastructure to transport drill equipment and heavy machinery with an existing 25km partly sealed and all weather gravel road from the city of Choix.
Sierra Iron Ore also is 100% owner of the 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. Geologically, the Property predominantly covers the central facies of Triassic volcanic and lesser sedimentary rocks of the Nicola Group.
Mr. Laurence Sookochoff, P. Eng., a Qualified Person (QP) as defined by NI 43-101 has approved the geological content of this Press Release.
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].