CWRN: "Additional $100,000,000.00 in New Baja 14 Iron Found"
Press Release Source: Cotton & Western Mining, Inc. On Monday July 19, 2010, 7:36 am EDT
HOUSTON, TX--(Marketwire - 07/19/10) - Cotton & Western Mining, Inc. (Pinksheets:CWRN - News), Robert L. Cotton, President of Cotton & Western Mining, Inc. stated today; that the company has discovered approximately an additional 1,000,000 metric tons of new iron ore bodies during the recent survey of the Guadalupe concession boundaries. The new iron is estimated at potentially $100,000,000.00 in revenue value based on current CRF China Seaborne Trade Spot Market, (see iron ore index below). The new iron ore bodies were found in a remote mountain ravine bordering the southwest corner of the Guadalupe Concession (Baja Pacific No. 14). Pre mining preparations are continuing with expansion of roads to reach all the iron deposits that have been found in the recent survey; these are quality, high grade magnetite iron bearing deposits that were not in the original geological survey. The company has placed photographs of the new iron deposits on its website at the following link: cottonwestern.com
A Company News Letter was sent out today containing pictures and general information on the new iron to shareholders and other business contacts. Persons interested in receiving Baja Mining News, concerning the project may request a copy from the following e-mail link: bajaminingnews@yahoo.com
Bulk shipments will be loaded out at the Pacific Ocean Port of Ensenada, Baja California, Mexico. Pan American Minerals Ventures, S.A. de C.V., a Joint Venture Company, shall be the operating company for the Baja Pacific Iron Ore Mining Project. The project is currently working under "Exploration Status" until all mining permits are issued. More equipment will be arriving this week, to include excavators, hammer, loaders, dozer work will be starting back this week to complete the roads and level off the mining site storage and truck loading lay-down yard.
Related News: The Spot Crude Iron Ore Price for the China Seaborne Trade as reported on closing Friday, July 16th, 2010 at CFR $115.34 per dry metric ton Port of Qingdao. Daily index prices may be viewed at the Metal Bulletin link below.
Metal Bulletin Iron Ore Index Link mbironoreindex.com
About Cotton & Western Mining, Inc.
Cotton & Western Mining, Inc. (Pinksheets:CWRN - News) is a Nevada Corporation that is engaged in metal mineral exploration, development and operations of "Iron Mineral Mining." For more information, please visit the company's website at cottonwestern.com
earlier geological survey of CWRN properties:
cottonwestern.com
this July '09 CWRN iron news was calculated when ore price was $115/tonne but now is $183/tonne
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