Pacific Iron Ore Corporation Announces Drilling Results at St. Anthony Site, Intersects up to 15.58 g/t over 1.0 Metre and Ch...
22 Januar 2014 - 11:02PM
Marketwired Canada
Pacific Iron Ore Corporation (TSX VENTURE:POC) is pleased to announce the
results of recent drilling completed on their Best/Kings Bay and St. Anthony
properties in Northwestern Ontario. A total of seven drill holes were completed
this past fall, totaling 942 metres.
Five holes were drilled on the St. Anthony Property approximately 500 metres
south of the historic Dawson-White shaft, to test the extent of the veining in
the area. Each hole drilled tested the mafic volcanic-granodiorite contact, and
contained several porphyry and vein intervals, with varying intensities of
shearing present across all lithologies. Visible Gold was encountered in three
of the five holes with values up to 27.7 g/t over 0.5 meters.
Two holes were also drilled on the Best/Kings Bay Property to test several SP
(Self-Polarization) geophysical anomalies. Interstitial pyrrhotite scattered
throughout hole AB-01 accounts for the SP anomalies in that area, however, the
anomalies that hole AB-02 was designed to test remain unexplained.
Table 1 - Significant Drilling Results
---------------------------------------------------------------------------
Length
Hole No. Area Description From (m) To (m) (m)(i) Au g/t
---------------------------------------------------------------------------
DW-01 Dawson-White Mafic volcanic with
quartz stringers 10 10.7 0.7 1.195
---------------------------------------------------------------------------
DW-02 Dawson-White Patchy white quartz
veins in mafic
volcanic 12.45 13 0.55 0.702
Thin quartz vein with
visible gold 127.65 127.95 0.3 11.05
Thin quartz vein in
granodiorite 152.7 153 0.3 2.88
---------------------------------------------------------------------------
DW-04 Dawson-White Opaque white quartz
vein in mafic volcanic 60.5 61.5 1.55 0.86
Including 60.5 61.5 1 1.115
Opaque quartz vein in
silicified porphyry 65.8 66.8 1 15.58
Including 65.8 66.3 0.5 27.7
And 66.3 66.8 0.5 3.46
Quartz flooding in
granodiorite 75.45 75.8 0.35 1.02
---------------------------------------------------------------------------
DW-05 Dawson-White Translucent vein with
visible gold 65.3 65.7 0.4 11.05
Several quartz veins
in sheared mafic
volcanic 70.9 73.3 2.4 7.33
Including 71.25 72 0.75 3.26
And 72 72.4 0.4 17.25
And 72.4 73 0.6 2.6
And 73 73.3 0.3 21.8
---------------------------------------------------------------------------
(i)Length refers to drilled length; true widths have not been determined.
Pacific Iron Ore's 8,816 hectare (51 mining claims) St. Anthony property
includes the St. Anthony mine - historically the largest gold producing mine in
Ontario's Kenora - Patricia Mining Division. The St. Anthony claim group is
located along the eastern shore of the north arm of Sturgeon Lake within the
Sturgeon Lake Greenstone Belt. The Best/Kings Bay Property is comprised of 752
hectares (3 mining claims and 14 leases) and is contiguous to the St. Anthony
Property.
QA/QC Procedures
The rock samples were provided to ALS Chemex, an ISO 9001 and ISO 17025
accredited facility located in Thunder Bay, Ontario, for analysis and
processing. The samples taken were analyzed for 51 elements by aqua regia
digestion with induction coupled plasma mass spectroscopy (ICP-AES), and for
gold by Trace Level fire assay on a 30 g sample with induction coupled plasma
mass spectroscopy (ICP-AES) finish. Samples over the detection limit were
re-assayed using a gravimetric finish, and samples containing visible gold were
sent for pulp metallic analysis, screened to 100 microns with a gravimetric
finish. An independent QA-QC protocol was used on the program consisting of a
combination of blanks and standards.
Change of Directors
Pacific Iron Ore Corporation is pleased to announce that Mr. Alexander S. Harvey
has been elected to the board of directors effective November 13, 2013. Mr.
Harvey is an Edmonton businessman and the President of The ASH Corporation. Mr.
Harvey serving as a director remains subject to TSXV approval.
The Company also announces the retirement of Mr. Todd Montgomery and Mr. Brent
Walter from the board of Directors. Mr. Montgomery has left the board to pursue
other business commitments but remains a significant shareholder and supporter
of the company. Mr. Walter has also retired from the board to focus on his law
practice but remains a significant shareholder and will remain the Corporation's
solicitor.
The Board of Pacific Iron Ore Corporation wishes to thank Mr. Montgomery and Mr.
Walter for their contributions and expertize to the board since the company
became a public entity and wishes both of them every success in the future.
Company Contacts
For further information please refer to the Corporations profile on SEDAR which
can be accessed at www.sedar.com, visit our website at
www.pacificironorecorp.com.
Neil Pettigrew, M.Sc., P.Geo., Vice President of Fladgate Exploration Consulting
Corporation, a Qualified Person as defined by NI 43-101, has reviewed and
approved the technical information in this press release.
Forward Looking Statements:
The TSX.V Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release. This release includes certain statements
that may be deemed "forward looking statements". All statements in this release,
other than statements of historical facts that address future production,
reserves potential, exploration drilling, exploration activities and events or
developments that the Corporation expects are forward looking statements.
Although the Corporation believes the expectations expressed in such forward
looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ
materially from those in the forward looking statements. Factors that could
cause results to differ materially from those in the forward looking statements
include, but are not limited to: market prices; exploitation and exploration
successes; continued availability of capital, financing and personnel;
government regulation and laws; the Corporations relationship with First
Nations; environmental developments; and general economic, market or business
conditions. Investors are cautioned that such statements are not guarantees of
future performance and those actual results or developments may differ
materially from those projected in the forward looking statements. For more
information on Pacific Iron Ore Corporation, Investors should review the
Corporation's registered filings which are available at www.sedar.com.
Neither the 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 his release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Pacific Iron Ore Corporation
R. A. N. Bonnycastle
Chairman
(403) 268-6795
(403) 265-2887 (FAX)
www.pacificironorecorp.com
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