Pacific Iron Ore Corp. Announces Drilling Results at St. Anthony Site, Intersects up to 15.58 g/t over 1.0 Metre & Change of ...
23 January 2014 - 10:02AM
Marketwired
Pacific Iron Ore Corporation Announces Drilling Results at St.
Anthony Site, Intersects up to 15.58 g/t over 1.0 Metre and Change
of Directors
CALGARY, ALBERTA--(Marketwired - Jan 22, 2014) - 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
Hole No. |
Area |
Description |
From (m) |
To (m) |
Length (m)* |
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 |
*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.
Pacific Iron Ore CorporationR. A. N. BonnycastleChairman(403)
268-6795(403) 265-2887www.pacificironorecorp.com
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