 | | | Published : September 04th, 2012 | Work 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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September 04, 2012
Exploration Work Underway at Strongbow's Shovelnose Gold Property, BC
Strongbow Exploration Inc. (SBW: TSXV) has been notified by Westhaven Ventures Inc. (WHN: TSXV) that exploration work is underway at the Shovelnose gold property located adjacent to the Coquihalla highway, approximately 30 km south of Merritt, British Columbia. The current program will consist of induced polarization (IP) and magnetic ground geophysical surveys, as well as soil sampling, prospecting and mapping. The geophysical surveys are intended to further evaluate the Line 6, Mik and Tower gold showings, where initial drilling completed in 2011 (please see Strongbow News Release #12-01 dated January 31, 2012) confirmed the presence of gold bearing epithermal quartz veins at Line 6 and Mik, as well as a broad alteration zone at the Tower showing (55.8 m grading 0.21 g/t Au) indicating the potential for a significant mineralized alteration system within the property.
The IP and magnetic surveys will also evaluate the north trending Tower Creek valley which separates the Mik and Tower showings. Detailed soil sampling along this valley has defined a 1,400 m long zone of elevated gold, arsenic, mercury, antimony and molybdenum. Prospecting conducted in 2011 uncovered a heavily veined, pyrite flooded siliceous rock 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 $1.5 million in exploration expenditures.
Qualified Person Statement
David Gale, P.Geo. (BC), Vice-President of Exploration for Strongbow and a qualified person under NI 43-101 has read and takes responsibility for the technical information in this release.
STRONGBOW EXPLORATION INC.
/s/"Kenneth A. Armstrong"
Kenneth A. Armstrong
President and CEO
For further information, please contact:
Ken Armstrong
President and CEO
Tel: 604 668 8355
Email: info@strongbowexploration.com
Website: www.strongbowexploration.com
The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy of this release. | |
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Data and Statistics for these countries : Canada | All Gold and Silver Prices for these countries : Canada | All
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Strongbow Exploration Inc.
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EXPLORATION STAGE |
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CODE : SBW.V |
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ISIN : CA8633631079 |
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Strongbow is a nickel and copper exploration company based in Canada. Strongbow holds various exploration projects in Canada. Its main exploration properties are COMMITEE BAY, KAT, INZA, SNOWBIRD, SPENCES BRIDGE GOLD BELT, SHOVELNOSE, NAPAKTULIK, FURY, SARCPA, SKOONKA CREEK, SOUTH THELON, STARFISH, WALES ISLAND, BEAR, DARING LAKE, HOPE BAY (ORO), TREE RIVER, ANIALIK, CANOE LAKE, KINGORA, LDG, TENACITY SOUTH, NORTH THELON, JEWEL, MUSK, NOWYAK LAKE, GEM, ULU SOUTH, MIDWAY GOLD PROJECT, BLUE LAKE, REGAN LAKE, NICKEL KING, MELVILLE - FURY/ SARCPA/ GEM, MELVILLE PENINSULA AVIAT 2 and WEST KITIKMEOT (NTI PROPERTIES) in Canada and AVOCA and PARKER (NORTH CAROLINA) in Ireland. Strongbow is listed in Canada and in United States of America. Its market capitalisation is CA$ 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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