Strongbow Options Snowbird Nickel Project to North Arrow Minerals
Strongbow Exploration Inc. (SBW: TSXV) announces it has entered into an
option agreement with North Arrow Minerals Inc. whereby North Arrow can
earn a 50% interest in Strongbow′s Snowbird nickel project. Kenneth A.
Armstrong, Strongbow′s President, CEO and a director, is also a director
of North Arrow, and D. Grenville Thomas, Strongbow′s Chairman and a
director, is the President, CEO and a director of North Arrow.
The Snowbird project covers approximately 16,000 hectares (40,000 acres)
along the southern extent of the Snowbird Tectonic Zone in northern
Saskatchewan and southern Northwest Territories. The Snowbird Tectonic
Zone is a geologic feature that is considered to be highly prospective
for magmatic nickel copper sulphide mineralization and is known to host
several deposits including Strongbow′s Nickel King Ni-Cu-Co deposit in
the Northwest Territories immediately to the north of the Snowbird
project.
Exploration work completed by Strongbow has included airborne
geophysical surveys, geochemical surveys, bedrock mapping and limited
drilling. This work has identified a number of target areas where
previously unknown mafic and ultramafic intrusions are coincident with
electromagnetic and magnetic geophysical anomalies, geochemical
anomalies and nickel-copper mineralization. The highest priority targets
are located in the Opescal Lake area along the Saskatchewan ? Northwest
Territories border where a five kilometre long linear magnetic anomaly
coincides with several electromagnetic conductors. These geophysical
targets lie beneath glacial cover, however they are within a broad area
of mapped mafic and ultramafic rocks where prospecting has identified
local occurrences of nickel-copper sulphide mineralization associated
with norite and pyroxenite intrusions. Rocks collected in the area have
returned values ranging from detection up to 1.17% Ni and 0.40% Cu. The
Opescal Lake targets have never been previously drilled and will be a
priority for ground geophysical surveys and diamond drilling during the
winter of 2013.
Under the terms of the option agreement and subject to North Arrow
completing an equity financing by December 31, 2012, North Arrow can
earn a 50% interest in the Snowbird project by incurring $4 million in
exploration expenditures prior to December 31, 2016, including a firm
commitment to spend $30,000 prior to December 31, 2012.
Ridgeway gold project, South Carolina
Strongbow also announces that it has completed a program of bedrock
mapping and geochemical sampling at its Ridgeway gold project in South
Carolina. A total of 167 geochemical and prospecting samples were
collected and results from this work are expected by the middle of
August.
Strongbow′s exploration programs are conducted under the supervision of
David Gale, P.Geo. (BC), Vice-President of Exploration for Strongbow and
a qualified person under NI 43-101.
STRONGBOW EXPLORATION INC.
/s/'Kenneth A. Armstrong?
Kenneth A. Armstrong
President
and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release
Strongbow Exploration Inc.
Ken Armstrong, 604-668-8355
President
and CEO
info@strongbowexploration.com
Website:
www.strongbowexploration.com