Oceanic Iron Ore has released an additional set of assay results from 32 drill holes across the Zone 4, Castle Mountain, McDonald Zone, Iron Valley and Bay Zones B, C, E and F in the Hopes Advance project region.
Drill holes HA-11-077, HA-11-076, HA-11-072, HA-11-071, HA-11-070 and HA-11-069 at Castle Mountain show that mineralization extends a further 150 m down dip to the southeast, while drill hole HA-11-082 at the Castle Mountain’s northern part shows that mineralization extends a further 600 m to the northeast. HA-11-072 and HA-11-070 drill holes returned encouraging results grading 33.7% over a thickness of 66.2 m and 37.3% iron over a thickness of 40.0 m, respectively.
Drill holes IV-11-005 and IV-11-003 at Iron Valley show a thick iron formation grading 32.6% total iron over a thickness of 45.8 m and 50.8 m, respectively.
Twinned drill hole HA-11-057 at Bay Zone C shows a thick iron formation grading 32.3% iron with a thickness of 51.2 m. At Bay Zone E, twinned drill holes HA-11-045 and HA-11-044 show near surface thick mineralization grading 32.2% iron over a thickness of 57.3 m and 31.7% iron over a thickness of 51.7 m, respectively. Twinned drill holes HA-11-042 and HA-11-040 at Bay Zone F show near surface thick mineralization grading 36.1% total iron over a thickness of 91.7 m and 34.7% total iron over a thickness of 93.2 m, respectively. At Bay Zone F, hole BF-11-004 expands the mineralization to the southeast and shows a thick mineralization grading 34.2% total iron over a thickness of 78.2 m. At Bay Zone B, the drill hole BB-11-001 returned an assay of 35.7% iron over a thickness of 91.5 m.
Till date, the holes that have been reported demonstrate low levels of phosphorous and sulphur. The drilling is of NQ quality and sample lengths are obtained to a maximum length of 2 m.