Symbol:-TSXV.NAA
Symbol:-OTC- SIOCF
VANCOUVER, Aug. 6, 2013 /CNW/ - Sierra Iron Ore Corporation (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 Corporation.
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 Corporation
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Corey Safran, Investor Relations, at 609-228-0595, or by email at corey@sierrairon.com.
Copyright CNW Group 2013