Symbol:-TSX-V:NAA
OTCQX:SIOCF
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.
|
|
|
% Fe |
|
|
%S |
Brasiles |
|
|
55.21 |
|
|
0.79 |
El Creston |
|
|
55.88 |
|
|
0.35 |
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
properties."
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 by
management
SOURCE Sierra Iron Ore Corporation