Coziron Resources (ASX: CZR) has entered into a contract to acquire additional highly prospective exploration ground adjacent to the company’s Yaraloola project, which is located in Western Australia.
Coziron has been granted a trading halt, with its shares placed in pre-open.
Yarraloola is surrounded by major Australian and international iron ore producers and explorers, and is 35 kilometres south of CITIC Pacific’s (HKG: 0267) Sino Iron project, and immediately adjacent to Rio Tinto’s (ASX: RIO) Mesa A and Mesa J Mines.
Yarraloola is a multiple large scale exploration targets covering four different styles of iron ore, and is located in a potential low operating-cost environment.
Iron Ore Holdings (ASX: IOH) are developing a new haul-road through the Yarraloola tenements to a port at Cape Preston East.
The company will remain in the halt until the opening of trade on Wednesday 9th October 2013, or earlier if an announcement is made to the market.
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