Business
Sierra Iron Ore Corp. Provides an Update on the Legal Action Against A Neighboring Company to the Mazomique Property
Symbol:-TSX-V:NAA OTCQX:SIOCF VANCOUVER, March 27, 2013 /CNW/ - SIERRA IRON ORE CO...
About this update from Enduro Metals Corporation
[{"type":"text","content":"\n\n\n\n\n\nSymbol:-TSX-V:NAA OTCQX:SIOCF\n\n\nVANCOUVER, March 27, 2013 /CNW/ - SIERRA IRON ORE CORP (the \"Company\")\n is pleased to provide an update on the legal action against PARADOX\n GLOBAL RESOURCES, SA DE CV (\"Paradox\") that owns and operates an iron ore mine on the adjacent\n property to the recently optioned Mazomique property that is located\n south of the El Creston property.\n\n\nAs previously announced on January 8, 2013, the legal action claims that Paradox has illegally crossed the property lines and has been operating\n and extracting iron ore from the Mazomique property for resale into the\n market. The legal action initiated by Sierra Iron Ore has successfully\n resulted in the termination of any further mining operations conducted\n by Paradox on the Mazomique property.\n\n\nThe Company is also in discussions with several interested parties to\n evaluate the ore resource that was illegally removed from the Mazomique\n property in order to determine the existence of an economic material\n zone that can be mined for production in the very near term.\n\n\n\"Samples from the Mazomique zone are being analyzed to confirm that the\n ore meets the standard for immediate sale into the global markets and\n support the criminal motive by Paradox to conduct the theft of the ore\n resource,\" stated Wally Boguski, President and CEO. \"We continue to\n vigorously pursue all legal remedies and will aggressively defend and\n protect the company's assets. We are working with the local court and\n government authorities at the state and federal levels and expect full\n cooperation with a favorable resolution to our legal claim.\"\n\n\nAbout Sierra Iron Ore Sierra Iron Ore is a growth focused mineral exploration company creating\n value through the exploration and development of the El Creston\n property located in the Sinaloa State of Mexico. The company has a\n continual fieldwork program at the El Creston Property that is\n comprised of drilling, mapping, sampling and planning for further\n property development. Roads have been built and upgraded and equipment\n has been mobilized for further developing the known magnetite zones\n identified by recent exploration work.\n\n\nSierra Iron Ore also has 100% ownership of the Tom Cat property which is\n located 200 kilometres east-northeast of Vancouver within the historic\n ...