Drilling Completed At Strongbow’s Shovelnose Gold Property, BC
10 Dezembro 2012 - 12:00PM
Business Wire
Strongbow Exploration Inc. (SBW: TSXV) is pleased to provide an
update on its exploration properties in Canada and the southeastern
United States.
Shovelnose gold property (British
Columbia)
Strongbow has been notified by Westhaven Ventures Inc. (WHN:
TSXV) that a 5 hole, 778 m exploration drilling program has been
completed at the Shovelnose gold property. Two drill holes further
evaluated the Tower showing where drilling in 2011 identified a
broad alteration system (55.8 m grading 0.21 g/t Au). Two holes
tested targets associated with the Tower Creek valley that
separates the Tower showing from the Mik gold showings, and the
final hole of the program evaluated a separate, 1100 m long
northwest trending structural/geochemical target located 720 m to
the north of the Tower showing. All five drill holes encountered
intervals of silicification ranging from several metres to 120 m in
apparent thickness, with locally developed banded and stockwork
quartz veining and quartz breccias displaying textures typical of
low sulphidation epithermal systems. Assay results from the drill
program are pending. Westhaven is funding the costs of the current
drill program as part of an option to earn up to a 70% interest in
the property.
Midway and Ridgeway gold projects (South
Carolina)
Strongbow is pleased to report it has concluded seventeen
amendment agreements with landowners at the Midway project. The
amendments extend the term of underlying option agreements on each
property for a period of two years (to December 2016 or December
2018) and have also reduced annual holding costs for calendar year
2013. With the amendments in place, as well as the planned
relinquishment of several other properties, Strongbow expects to
retain 22 option agreements covering approximately 1,800 acres with
an annual 2013 holding cost of $49,500, representing a reduction of
80%. The retained properties represent the core of the Midway
project and the areas believed to host the greatest potential for
discovery of a gold deposit similar to the adjacent Haile gold mine
deposits that are currently in the mine permitting stage.
The Company has also received results from follow up geochemical
sampling of two priority targets at the Ridgeway property. The
targets are located within 350 m and 1,100 m of, and along strike
from, the Ridgeway mine’s north pit which produced approximately
750,000 ounces of gold during the 1990’s. The new results have
confirmed the robust nature of these targets which are located on
properties that were not subject to drilling during exploration and
development of the Ridgeway mine.
Petrographic and structural analyses have also been completed at
both the Midway and Ridgeway gold projects. The petrographic study,
including electron microprobe analyses, focused on characterizing
minerals associated with hydrothermal alteration identified in
drill core. This work, combined with new interpretations of the
structural geology of both project areas has refined the
exploration targets identified to date. In particular, this work
has refined the expected location of important stratigraphic
contacts between volcanic and sedimentary rock units. These
volcanic-sedimentary contacts represent an important first order
control in gold mineralization at both the Haile and Ridgeway gold
mines, located adjacent to and along strike from Strongbow’s
properties.
Snowbird nickel project
(Saskatchewan/Northwest Territories)
The Company continues to evaluate opportunities to advance the
district scale Snowbird nickel project. The project hosts the
Nickel King deposit, as well as a number of nickel-copper showings
and untested drill ready targets hosted within mafic to ultramafic
intrusions. Recent work by Government geoscientists has identified
additional, previously unknown mafic and ultramafic intrusions in
the region. Government has also published age dating information
that, combined with Strongbow’s exploration data, suggests the
Nickel King intrusions are of similar age to intrusions hosting
mineralization at other important nickel camps around the world,
including the Thompson and Raglan areas in Canada. This potential
age correlation helps to underscore the prospective nature of the
Snowbird Nickel project. A presentation highlighting the Snowbird
project has been posted on the Company’s website at
http://www.strongbowexploration.com.
David Gale, P.Geo. (BC), Vice-President of Exploration for
Strongbow and a qualified person under NI 43-101 has read and takes
responsibility for the technical information in this release.
STRONGBOW EXPLORATION INC.
/s/“Kenneth A. Armstrong”Kenneth A. ArmstrongPresident and
CEO
The TSX Venture Exchange has not reviewed, and
does not accept responsibility for the adequacy of this
release.
To view this press release as a webpage, please click on the
following link:
http://www.usetdas.com/pr/strongbowdec102012.htm
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