| | Published : October 13th, 2011 | Drilling Underway at Strongbow's Shovelnose Gold Property, BC |
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Suite 860 - 625 Howe Street, Vancouver, BC, Canada V6C 2T6 Tel: 604 668 8355 Fax: 604 668 8366 |
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October 13, 2011
Exploration Drilling Underway at Strongbow's Shovelnose Gold Property, BC
Strongbow Exploration Inc. (SBW: TSXV) has been notified by Westhaven Ventures Inc. (WHN: TSXV) that an exploration drilling program is underway at the Shovelnose gold property located adjacent to the Coquihalla highway approximately 30 km south of Merritt, British Columbia. The 800 m program will evaluate several never before tested priority targets including the Line 6 and MIK epithermal gold showings, where gold mineralization is hosted within siliceous tuff-hosted epithermal-style quartz veins. Previous mechanized trenching of the showings has produced encouraging mineralized intervals, including 20 m grading 0.8 g/t gold, 16.0 m grading 1.4 g/t gold, and 6.0 m grading 5.1 g/t gold. Drilling is being carried out by Foraco Drilling Ltd. of Kamloops, BC, and is expected to be completed by early November.
Initial exploration work completed earlier this fall by Westhaven resulted in the identification of two new prospective target areas. As a result, an additional 5,287 ha of mineral claims were staked, increasing the size of the Shovelnose property to approximately 16,000 ha. Approximately 1,000 soil samples and 169 rock samples were collected for geochemical analysis. Analytical results for these samples are pending, however Westhaven has initiated a second phase of prospecting and silt sampling within the newly staked areas of the property. This work is designed to follow up a BC government Regional Geochemical Survey (RGS) silt sample that assayed 100 ppb gold and 2,700 ppb mercury. This sample is located approximately 9 kilometres to the northeast of the MIK showing and adds a new exploration facet to the Shovelnose property. Approximately 25 silt samples will be taken to help delineate areas of interest on the newly acquired claims.
Westhaven's exploration programs are part of an agreement under which Westhaven can earn up to a 70% interest in the Shovelnose property. Under the terms of the agreement, first announced in a Strongbow news release dated January 25, 2011, Westhaven can earn an initial 51% interest by incurring $1.5 million in exploration expenditures over a three year period and issuing a total of 300,000 common shares to Strongbow. Within 12 months of having earned its 51% interest in the property, Westhaven will have the option to increase its total property interest to 70% by issuing an additional 500,000 shares to Strongbow, and incurring an additional $1.5 million in exploration expenditures.
Exploration of the Shovelnose property is supervised by Kristopher J. Raffle, P.Geo (BC) Senior Geologist for APEX Geoscience Ltd. of Edmonton, AB, who is the qualified person for the project as defined by National Instrument 43-101.
STRONGBOW EXPLORATION INC.
/s/"Kenneth A. Armstrong" Kenneth A. Armstrong President and CEO
For further information, please contact:
Ken Armstrong President and CEO Tel: 604 668 8355 Email: info@strongbowexploration.com Website: www.strongbowexploration.com
The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy of this release | |
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Data and Statistics for these countries : Canada | All Gold and Silver Prices for these countries : Canada | All
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Strongbow Exploration Inc.
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EXPLORATION STAGE |
CODE : SBW.V |
ISIN : CA8633631079 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Strongbow is a nickel and copper exploration company based in Canada. Strongbow holds various exploration projects in Canada. Its main exploration properties are COMMITEE BAY, KAT, INZA, SNOWBIRD, SPENCES BRIDGE GOLD BELT, SHOVELNOSE, NAPAKTULIK, FURY, SARCPA, SKOONKA CREEK, SOUTH THELON, STARFISH, WALES ISLAND, BEAR, DARING LAKE, HOPE BAY (ORO), TREE RIVER, ANIALIK, CANOE LAKE, KINGORA, LDG, TENACITY SOUTH, NORTH THELON, JEWEL, MUSK, NOWYAK LAKE, GEM, ULU SOUTH, MIDWAY GOLD PROJECT, BLUE LAKE, REGAN LAKE, NICKEL KING, MELVILLE - FURY/ SARCPA/ GEM, MELVILLE PENINSULA AVIAT 2 and WEST KITIKMEOT (NTI PROPERTIES) in Canada and AVOCA and PARKER (NORTH CAROLINA) in Ireland. Strongbow is listed in Canada and in United States of America. Its market capitalisation is CA$ 5.5 millions as of today (US$ 4.1 millions, € 3.5 millions). Its stock quote reached its lowest recent point on November 21, 2008 at CA$ 0.02, and its highest recent level on February 18, 2011 at CA$ 8.00. Strongbow has 60 570 000 shares outstanding. |
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