Oceanic Iron Ore Corp. Announces Fast-Tracking of Resource Estimate Work and Preliminary Economic Assessment

Oceanic Iron Ore Corp. (TSXV:FEO,OTC:FEOVF) reports Micon International Limited will produce a mineral resource estimate and preliminary economic assessment of its iron ore properties.

The press release is quoted as saying,

The team from Micon have extensive iron ore experience and already know the Properties extremely well, having worked closely with the Company since the middle of 2010. Micon will work alongside AMEC, who are producing the marine facility study with the help of FedNav, to fast track completion of the PEA by early October, 2011. On completion of the PEA the Company will have, in a very short period of time, caught up with or surpassed in the development cycle, many of its peers with development properties in the Labrador Trough.

For the complete press release, click here.