The company has commenced a drill program of approx. 1000m (14 drill holes) focusing on the company’s two most favourable gold prospects: Mermaid ( 6 holes) & Endeavor ( 8 holes)
24 gold targets to date have been identified from the Barrick dataset of 44,605m of drilling of 1,104 holes, which were drilled by Barrick on the JV tenements
Current program includes confirmation drilling on historical holes of 5m @ 348.9 g/t Gold including 1m @ 1,510 g/t Gold
Project is 5km from Barrick's Darlot Mine, producing approx. 100,000 ounces of gold yearly
Project is already permitted for mining
Central Iron Ore has 73M shares I/O & $1.3m cash on hand (Oct 2012)
Gold assay results are expected in October / November 2012.