Oceanic Iron Ore Corp. (CVE:FEO,OTC:FEOVF) reports initial results from the first four holes of its 2011 drill program.
Oceanic Iron Ore Corp. (TSXV:FEO,OTC:FEOVF) reports initial results from the first four holes of its 2011 drill program.
The press release is quoted as saying,
Hole HA-11-03 on section 30+00 returned an assay of 34.0% total Fe over a width of 59.85 m* (58.94 m T.W.) in magnetite and hematite bearing iron formation of the Sokoman Formation, which compares to the adjacent historic drill hole P34 which delivered 35.4% soluble Fe over a width of 59.74 m*. Hole HA-11-07, drilled on section 0+00 returned an average assay of 32.6% total Fe over a width of 64.20 m* (63.22 m T.W.) (Sokoman Formation).
Oceanic’s Chairman and CEO, Steve Dean says,
These initial drill results are extremely encouraging and are remarkably consistent with historic drill results.