- Central Iron Ore (TSXV:CIO) has shot up 200 per cent today, after releasing the latest drill results from its South Darlot gold project in Australia
- The results show a suite of narrow veins that contain incredibly high-grade averages,
- Notable intersects include 1.6 metres at 124.4 grams per tonne gold from a depth of 37 metres
- Central Iron already has a follow-up 1024-metre drilling program planned, which is designed to further outline the site’s Endeavour prospect
- Central Iron Ore (CIO) is up 200 per cent and is trading at C$0.06 per share
Central Iron Ore (TSXV:CIO) has shot up 200 per cent today, after releasing the latest assays from its South Darlot project in Australia.
The results show a suite of narrow veins that contain incredibly high-grade averages, including 1.6 metres at 124.4 grams per tonne gold from a depth of 37 metres.
Other results include two metres at 88 grams per tonne from 27 metres down, two meters at 77 grams per tonne gold from 37 metres down, and 1.6 metres at 38.2 grams per tonne from 53 metres down.
The results are from a 20-hole program, which involved 17 reverse circulation drills and three diamond core holes.
The South Darlot project includes the British King mine, of which Central owns 49 per cent. However, the past-producing mine is currently under care and maintenance.
CEO and President of Central Iron, Brett Hodgins said he was encouraged by the results from the drilling program.
“The high-grade gold results, combined with the prospect being on a granted mining lease, allow Central Iron Ore to add value to this asset.
“I believe this to be an important moment for Central Iron Ore with high grade gold discovered close to surface, the identification of a structure which can be extended along strike,” he said.
The next step for Central iron is a follow-up 1024-metre drilling program across 20 holes, which is designed to test the site’s Endeavour prospect.
The company is hoping to determine where mineralization ends on the deposit to the west and outline the depth of the high-grade veins.
Central Iron Ore (CIO) is up 200 per cent and is trading at C$0.06 per share at 1:30 pm EDT.
