HOUSTON, Sept. 29, 2011 /PRNewswire/ -- Cotton &
Western Mining, Inc. (OTC/Pinksheets: CWRN) Management stated today
that the original drilling program consisted of 68 shallow drill
holes into the Guadalupe iron ore
bodies; 66 of the 68 drilled holes contained iron ore lenses
varying in thickness from 2 to 14 meters thick. The deepest drilled
hole was 20 meters in depth. The last shipment of iron ore and the
current stockpiles of finished products have all come from a small
section of the 1,500 meters long Coloso Vein (one of four long iron
ore veins on the mineral concession) and 26 meters of overburden
and iron ore have been extracted out of the section. Currently the
company has begun a remedial drilling program to extend the
drilling depth to a minimum of 25 meters under the previously
discovered iron ore lenses and up to 100 meters deep should the ore
body continue at greater depth. In the first of a series of mini
drilling programs, four drill sites were chosen approximately 300
meters apart along the 275 degree Northwest Coloso strike in areas
of confirmed heavy ore bodies. The results of the program will be
made available to our shareholders and the general public upon
completion.
Shipping Update: Bulk vessel shipping is currently on
hold, pending the evaluation of cost savings on shipment size. The
first two shipments of Guadalupe
raw crude iron ore were delivered via HandyMax at 38,500 and 36,000
dry metric tons of ore, the latter shipment ended at a cost of
$43.00 per wet metric ton of product.
Shipping cost has recently decreased, primarily on larger
capacity vessels; therefore, Management has asked the John F.
Dillon & Company, LLC., to assist in finding and negotiating
the best Seaborne dry bulk freight rates available. A decision will
be make within the next couple weeks to either ship numbers 3 and 4
separately in HandyMax or combine the two shipments into a SuperMax
at 58,000 WMT or a PanaMax at 70-75,000 WMT shipment.
CWRN Current Share Structure: The Company has stated that
it is not currently providing any Market Awareness nor is it
involved with the market in any way. The share price of the
Company's stock is solely dictated by the market.
Authorized Shares: 6,000,000,000
Outstanding Shares: 4,361,635,980
Restricted Shares: 2,056,610,879
Free Trading Shares: 2,305,025,101
Notes: The Baja Pacific No. 14 -- "Mina Guadalupe" is
operated by Panamerican Minerals Ventures, S.A. de C.V.,
Ensenada, Baja California, Mexico.
Related News: China Seaborne Trade, Spot Price Iron Ore
may be viewed at the following link;
Metal Bulletin Iron Ore Index Link
http://www.mbironoreindex.com/
About Cotton & Western Mining, Inc.
Cotton & Western Mining, Inc. (Pink Sheets: CWRN) a Nevada
Corporation that is engaged in metal mineral exploration,
development and operations for "Iron Mineral Mining". For more
information, please visit the company's website at
www.cottonwestern.com.
Safe Harbor: Statements regarding financial matters in
this press release other than historical facts are "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, Section 21E of the Securities Exchange Act of 1934, and as
that term is defined in the Private Securities Litigation Reform
Act of 1995. The Company intends that such statements about the
Company's future expectations, including future revenues and
earnings, technology efficacy and all other forward-looking
statements be subject to the Safe Harbors created thereby. The
Company is a development stage firm that continues to be dependent
upon outside capital to sustain its existence. Since these
statements (future operational results and sales) involve risks and
uncertainties and are subject to change at any time, the Company's
actual results may differ materially from expected results.
Investor Relations Director
Emily Cotton
emilycotton@cottonwestern.com
+1 713 482 7593
SOURCE Cotton & Western Mining, Inc.