| | Published : November 13th, 2012 | 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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November 13, 2012
Drilling Underway at Strongbow's Shovelnose Gold Property, BC
Strongbow Exploration Inc. (SBW: TSXV) has been notified by Westhaven Ventures Inc. (WHN: TSXV) that exploration drilling is underway at the Shovelnose gold property located adjacent to the Coquihalla highway, approximately 30 km south of Merritt, British Columbia. The program will consist of approximately 600 m of drilling to test a number of target areas including the Tower showing where drilling identified a broad alteration system in 2011 (55.8 m grading 0.21 g/t Au), as well as the Tower Creek valley that separates the Tower showing from the Mik gold showings. Detailed soil sampling along this interpreted fault valley has defined a 1,400 m long anomaly with elevated gold, arsenic, mercury, antimony and molybdenum. Prospecting conducted in 2011 uncovered a heavily veined, pyrite flooded siliceous rock along the margin of the Tower Creek valley that returned 6.8 g/t gold. This sample was located 300 metres south of a previously reported rock sample that returned 119.0 g/t gold and 271 g/t silver.
Westhaven is currently working to earn up to a 70% interest in the Shovelnose property, including 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.
Strongbow also reports that it has been notified by North Arrow Minerals that North Arrow will not proceed with the option agreement to earn an interest in Strongbow's Snowbird nickel project as announced in Strongbow news release #12-07 dated August 3rd, 2012.
Qualified Person Statement
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
For further information, please contact:
David Gale Vice-President, Exploration 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, WALES ISLAND, SKOONKA CREEK, SOUTH THELON, STARFISH, MUSK, NOWYAK LAKE, CANOE LAKE, TREE RIVER, ANIALIK, SPENCES BRIDGE GOLD BELT, SHOVELNOSE, NAPAKTULIK, FURY, SARCPA, SNOWBIRD, HOPE BAY (ORO), BEAR, DARING LAKE, JEWEL, TENACITY SOUTH, NORTH THELON, KINGORA, LDG, GEM, BLUE LAKE, REGAN LAKE, ULU SOUTH, MIDWAY GOLD PROJECT, 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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