Sierra Iron Ore provides corporate update on the development and field work program
06.08.2013 | CNW
VANCOUVER, Aug. 6, 2013 - Sierra Iron Ore Corp. (Symbol: NAA-TSXV/OTCQX:SIOCF) (the "Company") is pleased to announce that it has made significant advancement to support the Company's plan for an exploration/development field work program on the El Creston iron ore property. The program will include a preliminary pilot testing plant operation for the purpose of testing zones at the property. Most notably, the Company has used proceeds from the previously announced closing of the 1st tranche of the non-brokered private placement (June 11, 2013) to make significant purchases of equipment that will support the field work program when it begins. The equipment purchased includes a Complete Crushing Plant (2000 metric ton per shift Capacity), Loaders, Backhoes, Scales and Trucks.
The El Creston property is ideally located for the logistics of exporting iron ore. The property is located approximately 100 kilometers from a major port on the west coast of Mexico. Also, the highway infrastructure is currently being upgraded and the local roads to the property are complete.
"Since the closing of the recent 1st tranche of financing, the company has responsibly been sourcing, negotiating and securing the necessary purchase of equipment to advance the company closer to the planned development work program," stated Wally Boguski, President and CEO. "We look forward to providing the market with further updates as we expect to begin the development program in the 2nd half of 2013."
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 Corp.
Paul Lee
Director
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 Corp.
Contact
Corey Safran, Investor Relations, at 609-228-0595, or by email at corey@sierrairon.com.
