VANCOUVER, Sept. 28, 2012 /CNW/ - SIERRA IRON ORE CORP (the "Company") is pleased to announce that it will begin the collection of a representative sample of 550 kilos of ore from the Veinte Zone located within the El Creston property. The sample will be comprised of 25 kilo samples that will be obtained with a spacing of about 10 meters between each sample hole. The samples will be sent to a major smelter in China for testing. The objective of the metallurgical testing is to determine the magnetite iron grade, by-product levels, and fine sizing. In addition, The Company will hire an independent 3rd party inspection company to maintain the quality standards of the shipment and analysis of the samples.
The decision to quickly move to conducting a metallurgy test is based on the previous results announced on August 27th, 2012 whereby the Company reported the first assay results from its core drill program. The results of the initial eight drill holes included six holes intersecting 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.
"We are very pleased that the results announced on August 27th, 2012 attracted many potential off-takers who contacted the Company", stated Wally Boguski, President and CEO. "The Company is independently proceeding with the metallurgy testing and we look forward to announcing the results after the samples have been fully processed."
Mr. Ruben Verzosa, P. Eng., a Qualified Person (QP) as defined by NI 43-101 has approved the geological content of this Press Release.
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 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 is also 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.
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].