TUCSON, AZ — (Marketwire) — 09/20/12 — (OTCQB: TFER) is pleased to announce it is changing its immediate corporate development focus to the Iron Mountain deposit, one of its properties at the wholly-owned Wyoming Iron Complex in Albany County, Wyoming.
Titan-s management has shifted the emphasis to Iron Mountain, instead of the larger Strong Creek deposit where it conducted a limited drill program in 2011, to maximize its opportunities for nearer-term production and cash flow opportunities. The Iron Mountain deposit has an existing open pit with past production, information from approximately 100 historical drillholes, and arguably a considerably shorter timeframe to complete feasibility-level work, and a much quicker path to production than Strong Creek. The Company believes that this approach will position it much more favorably for obtaining financing in the current market for junior mining companies.
An ore stockpile at Iron Mountain contains run of mine („ROM“) grade material. An independent sample analysis substantiated iron and titanium grades at 52% and 15% respectively. The Company intends to investigate arrangements to sell this material, which if successful, could potentially provide for short-term cash flow opportunities to help support future exploration and development on the site. The Company is also currently evaluating the potential customer and marketing base for which Iron Mountain ROM material may be suitable. This includes the area cement industry and domestic primary steel producers.
Titan-s technical plan for the winter of 2012 is to conduct metallurgical studies on Iron Mountain ore, including the engagement of a laboratory for compression and crush testing. During 2013, the Company intends to evaluate and design a laboratory-scale test program for the production of high value-added semi-steel and titanium products, replicating the historical studies from the 1960-s completed by the Natural Resources Division of the Union Pacific Railroad Company. Titan further anticipates that during 2013 it will implement an additional drill and exploration program at Iron Mountain, designed to upgrade the technical nature of the deposit. Also during 2013, the Company hopes to initiate work towards completing a feasibility-level report for the development of Iron Mountain.
The technical contents of this news release have been reviewed and approved by Mr. John Hiner, L.P. Geo. Mr. Hiner is a Registered Geologist in the State of Washington, registered member of the Society of Mining Engineers (SME) and a qualified person (QP) as defined in Canadian National Instrument 43-101. Mr. Hiner is completely independent of Titan, owning no securities of any kind in the Company.
Titan is based in Tucson, Arizona and trades on the OTC Bulletin Board under the trading symbol „TFER“. The Company is focused on the acquisition and development of iron ore exploration and development mining properties located in regions that enjoy stable politics, sound economies and friendly business environments.
On Behalf of the Board,
/s/ Andrew Brodkey Andrew A. Brodkey
President and CEO
This news release contains forward-looking statements. Forward looking information in this news release include that the Iron Mountain project will require a shorter timeframe to complete feasibility-level work, and a much quicker path to production than Strong Creek; that this approach will position the company more favorably for obtaining financing; that a stockpile on the project may provide for short-term cash flow opportunities to help support future exploration and development; that area cement industry and domestic primary steel producers may buy our material; that we plan to conduct metallurgical studies on Iron Mountain ore, including the engagement of a laboratory for compression and crush testing; that during 2013, we intend to evaluate and design a laboratory-scale test program for the production of high value-added semi-steel and titanium products; that we anticipate implementing an additional drill and exploration program at Iron Mountain and hope to initiate work towards completing a feasibility-level report for the development of Iron There can be no certainty regarding the ability of the Company to achieve these results. Factors which may delay or prevent these results from coming to fruition include our inability to raise sufficient financing, weather and access impediments; inability of consultants to complete the exploration programs, and that results may be substantially different than expected. As well, results may differ as a result of geological data resulting in changed plans for exploration, the Company-s potential inability to contract equipment and labor or finance its plans, current economic conditions and the state of mineral exploration and mineral prices in general. Even if results on the property are positive, the mineralization may not be sufficiently economic for commercialization. As a result, readers are advised not to place undue reliance on forward-looking statements or information. The Company does not undertake any obligation to release publicly revisions to any „forward-looking statement,“ to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as is required under applicable securities laws. Readers should also refer to the risk factors of junior mining exploration companies as disclosed on EDGAR to understand the many risks facing our company.
For further information please go to the Titan Iron Ore Corp. website: or Stephen D. Axelrod, CFA or Adam Lowensteiner Wolfe Axelrod Weinberger Associates, LLC 60 East 42nd Street, Suite 2534 New York, NY 10165 212-370-4500
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