Drilling Completed At Strongbow′s Shovelnose Gold Property, BC
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. Armstrong
President
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
Strongbow Exploration Inc.
Ken Armstrong, 604-668-8355
President
& CEO
info@strongbowexploration.com
www.strongbowexploration.com