Iron Ore Holdings buys Mardie tenement from Azimuth20:26,...

Iron Ore Holdings buys Mardie tenement from Azimuth
20:26, Wednesday, 19 October 2011

Sydney - Wednesday - Oct 19: (RWE Australian Business News) -
Iron Ore Holdings Ltd (ASX:IOH) has bought the Mardie tenement
(E08/1849-I) in the northwest Pilbara region of Western Australia from
Azimuth Resources Ltd (ASX:AZH) for $225,000 cash.
The Mardie tenement has a 40km coastline and is within 20km from
the Balmoral deposits which are managed by Citic Pacific Mining and
Australasian Resources Ltd (ASX:ARH).
The tenement does not currently contain any mineral resource,
but presents exploration upside for both hematite and magnetite ore and
has a pre-feasibility study completed on a salt project.
IOH managing director Mr Alwyn Vorster said the tenement
acquisition was part of IOH building its future business model,
primarily in the Western Pilbara.
"IOH will continue to develop its business through the
acquisition, exploration, feasibility study and commercialisation of
strategically located mineral properties in this region," he said.