The first aerial magnetic survey and results of the previous core drilling programs in the Bugaboo Creek area of the Pearson Project have given strong indications of magnetite iron ore in skarn formation, in significant concentrated pockets. Previous core drilling found iron ore in pay thicknesses of 25 metres. Pacific Iron Ore is cautiously optimistic that the technical work to date is suggestive of extensive magnetite potential. Please click here to view maps. The evidence of resource potential gathered to date falls short of what is needed to provide estimates of reserves that meet required standards of evidence and probability under N.I. 43-101.
Pacific Iron Ore will provide investors and the public with a more detailed assessment of the resource once the current work program, which includes a further aerial magnetic program, has been completed and fully evaluated by an independent qualified third party.