Central Iron Ore Limited

Drilling Update - Seite 2

Several significant intercepts from the program include:

• 23SKRC_002: 1m @ 3.26g/t from 19 meters
• 23SKRC_004: 1m @ 9.3g/t from 25 meters
• 23SKRC_007: 5m @ 3.63g/t from 36 meters
• 23SKRC_008: 6m @ 1g/t from 38 meters

Figure 4. Cross Section of the Sylvia Vein Showing 2023 and Historical Grade Distribution Downhole

Figure 5. Long Section View of the Pierce Point Grade Intercepts on the Sylvia & Kyneton Prospect

Weebo North

Drilling at Weebo North has confirmed high grade gold mineralisation in an area previously not tested by RC drilling. Gold mineralisation occurs in two distinct, near perpendicularly intersecting lodes; both lodes are characterised by very dark grey to near black vein quartz with minor amounts of sulphide mineralisation being present.
Significant interests from the program include:

• 23WNRC_002: 3m @ 3.34g/t from 19 meters
• 23WNRC_005: 1m @ 16.1g/t from 20 meters
          and 3m @ 16.16g/t from 36 meters
• 23WNRC_006: 1m @ 8.16g/t from 28 meters
  

The results of the initial drilling at Sylvia and Kyneton and Weebo North have been largely positive. The drilling has indicated a degree of continuity of mid to high-grade mineralisation at shallow depths which historical drilling failed to identify effectively and in doing so, has delivered significant upside potential to the South Darlot project.

The auriferous lodes at both Sylvia and Kyneton and Weebo North remain open at depth and laterally. Follow up drilling testing the extent of the extension is being planned currently.

Figure 6. Cross Section of the Weebo Lode 1 Showing 2023 and Historical Grade Distribution Downhole

Figure 7. Long Section View of the Pierce Points Grade Intercepts on the Weebo North Prospect

Native Title Clearance
Native title clearance processes for portions of the tenements covered by lodged Aboriginal Cultural Heritage is ongoing, preliminary dates for the heritage surveys has been set for the end of May 2024. Following the completion of the heritage surveys, the intent is to drill in the following 3 to 6 months.

QUALIFIED PERSON

Mr Andrew Bewsher who is a Member of the Australian Institute of Geoscientists and has compiled the information within this report relating to the RC drilling programme. Mr Bewsher has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity currently being undertaken to qualify as a Competent Person as defined in NI 43-101.