Canadian Orebodies Drills 85.5m of 28.0% Fe at Kihl Bay Including 26.2m of 35.7% Fe
10 12월 2012 - 8:00PM
Marketwired Canada
Canadian Orebodies Inc. (TSX VENTURE:CO) ("the Company") is pleased to announce
additional assay results from the summer drill program at the Haig Inlet Iron
Project ("Haig Inlet"), located on the Belcher Islands in Nunavut, Canada.
"We are very encouraged by the initial drill results at Kihl Bay, which
demonstrated good thickness and grade at shallow depths," said Gordon McKinnon,
President & CEO of Canadian Orebodies. "This is an area that was drill tested
for the first time ever this past summer, which reinforces management belief
that there is great potential to find other areas of mineralization on the
Company's vast landholdings."
A map of the holes drilled during the 2012 program is available on Canadian
Orebodies' website at:
http://www.canadianorebodies.com/i/maps/HaigInlet/2012DrillPlan-Final.pdf.
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Hole ID From (m) To (m) Interval (m) Total Fe (%) Target Area
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CO-12-12 36.40 120.85 84.45 25.13 Haig West
incl. 44.00 62.00 18.00 31.48
and 144.85 197.65 52.80 27.28
incl. 144.85 158.85 14.00 32.87
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CO-12-22 96.15 146.30 50.15 29.13 Haig South
incl. 96.15 110.15 14.00 35.40
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CO-12-23 91.60 124.50 32.90 28.71 Haig South
incl. 91.60 107.60 16.00 35.40
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CO-12-24 60.00 73.85 13.85 22.33 Haig South
and 87.85 140.00 52.15 27.81
incl. 88.65 100.65 12.00 32.85
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CO-12-25 79.50 130.00 50.50 25.95 Haig South
incl. 100.20 119.80 19.60 34.06
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CO-12-26 34.75 86.50 51.75 23.26 Kihl Bay
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CO-12-29 22.80 86.15 63.35 26.51 Kihl Bay
incl. 24.80 45.65 20.85 31.35
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CO-12-30 15.90 97.70 81.80 25.04 Kihl Bay
incl. 40.00 60.50 20.50 30.36
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CO-12-31 32.00 117.50 85.50 28.07 Kihl Bay
incl. 50.30 76.50 26.20 35.73
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CO-12-32 8.00 27.50 19.50 29.18 Kihl Bay
incl. 8.00 21.50 13.50 32.26
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In the above table the column title "Interval (m)" is the drill interception
width. As additional information is received, geological interpretations will
define true widths.
During the 2012 program a total of 6,469.6 meters (m) were drilled in 38 holes
spanning four separate target areas: Haig West, Haig South, the Haig North
Extension, and Kihl Bay.
Extension of December 15, 2012 Warrants
Canadian Orebodies also announces that it is extending the expiry date of
7,500,000 common share purchase warrants (the "Warrants") that were issued as
part of a private placement completed by the Company on June 15, 2011. The
expiry date of the Warrants has been extended by one year to December 15, 2013,
and the exercise price remains unchanged at $0.475.
Warrant holders are advised that replacement Warrant certificates will not be
issued and that the original Warrant certificates must be presented to Canadian
Orebodies in order to effect the exercise or transfer of such Warrants.
Qualified Person
This press release has been prepared under the supervision of Mr. George Wahl
(P.Geo.), who is an independent consultant to the Company and a "qualified
person" (as such term is defined in National Instrument 43-101). Mr. Wahl has
verified the technical data disclosed in this press release.
About Canadian Orebodies Inc.
Canadian Orebodies is a Canadian-based mineral exploration company with a
portfolio of properties in Nunavut and Ontario. Canadian Orebodies' primary
focus is on advancing and developing its wholly-owned Haig Inlet Iron Project,
located on the Belcher Islands in Nunavut. The Haig Inlet Iron Project is host
to an indicated iron resource of 230 million tonnes at 35.17% Fe and an
additional inferred resource of 289 million tonnes at 35.47% Fe. Canadian
Orebodies trades on the TSXV under the symbol "CO".
Forward-Looking Information
This press release contains certain "forward-looking statements". All
statements, other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or anticipates will or
may occur in the future (including, without limitation, statements relating to
mineral resources, potential mineralization, exploration results and the
Company's plans with respect to the exploration and development of the
Properties) are forward-looking statements. These forward-looking statements
reflect the current expectations or beliefs of the Company based on information
currently available to the Company. Forward-looking statements are subject to a
number of risks and uncertainties that may cause the actual results of the
Company to differ materially from those discussed in the forward-looking
statements, and even if such actual results are realized or substantially
realized, there can be no assurance that they will have the expected
consequences to, or effects on the Company. Factors that could cause actual
results or events to differ materially from current expectations include, among
other things, changes in commodity prices, changes in equity markets, failure to
establish mineral resources, changes to regulations affecting the Company's
activities, delays in obtaining or failures to obtain required regulatory
approvals, uncertainties relating to the availability and costs of financing
needed in the future, the uncertainties involved in interpreting drilling
results and other ecological data, and the other risks involved in the mineral
exploration and development industry. Any forward-looking statement speaks only
as of the date on which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future events
or results or otherwise. Although the Company believes that the assumptions
inherent in the forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent uncertainty
therein.
FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian Orebodies Inc.
Gordon McKinnon
President & CEO
(705) 268-9000
www.canadianorebodies.com
First Canadian Capital Corp.
Jason Monaco
Investor Relations
(416) 742-5600
jmonaco@firstcanadiancapital.com
First Canadian Capital Corp.
Jamie Frawley
Investor Relations
(416) 742-5600
jfrawley@firstcanadiancapital.com
Canadian Orebodies Inc. (TSXV:CO)
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Canadian Orebodies Inc. (TSXV:CO)
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