MONTREAL, QUEBEC--(Marketwired - Oct 19, 2015) - Bowmore Explorations Ltd. (the "Company" or "Bowmore") (TSX VENTURE:BOW)(0B5.F) is pleased to provide it's fall 2015 exploration program as well as a Corporate update on its property option agreements.
High-purity Silica Projects
The Company holds several silica properties in Quebec and Eastern Canada, all located close to commercial waterways, and is pursuing its efforts to evaluate these in light of current specialized market demand for high-purity silica products. Management has invested considerable efforts in 2015 in researching high-purity silica products and establishing physical and chemical criteria for these specialized markets. Further exploration will now be focussed on discovering adequate deposits for these restricted but lucrative markets. On two of its Quebec silica properties, the Company has obtained all necessary permits and licenses for a Phase 1 drill program. The objective of the Phase one, 600 metre program will be to assess the purity and strike length of the known silica zones and send purified samples to potential buyers.
Victoria Lake Option
The Victoria Lake Tin property located in southwestern New Brunswick, Canada is composed of 126 claims covering approximately 3,100 hectares and is located in Charlotte County along the south west part of New Brunswick and 17.5 km SW of the Mount Pleasant Mine. The Company previously announced the results of its fall 2014 extensive soil sample program that recovered over 600 samples and returned encouraging results with soil anomalies of up to 566 ppm tin (Sn) see February 25, 2015 PR). However, mineralization is apparently confined to a fault system with only limited vein-style potential. Since the Company had targeted the area for near-surface, bulk tonnage mineralization, and tin spot prices have dropped 32 percent in the last year, it has been decided to terminate the formal option agreement prior to its September 30 anniversary date.
Duverny Option Agreement
The Duverny option agreement was entered into on August 2010, and then amended in January 2013 (see PR August 10, 2010 and PR January 25, 2013 respectfully). Since 2010, the Company conducted several exploration and drill programs covering the extensive iron carbonate alteration zones (approximately 18 square kilometers) within the property and most recently completed a 3 hole drill program targeting the SW part of a large magnetic anomaly located near historical drill holes that were performed by Noranda in the 80's. No significant gold mineralization was intersected. The Company has decided to terminate the option agreement on the Duverny property, but will hold a block of claims covering 1,294 hectares adjacent to the existing property.
Mr. Paul Dumas, President and CEO of Bowmore Exploration Ltd., stated: "We are pleased to see the drill program at two of our silica properties underway. We consider these targets as excellent potential for high grade silica, and we continue to evaluate our other silica properties in Quebec and elsewhere in Eastern Canada."
About BOWMORE
BOWMORE is a Canadian exploration mining company focused on precious metal exploration in Canada and Mexico. The Company trades on the TSX Venture Exchange under the symbol "BOW".
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.
Forward-looking statements: Except for statements of historical facts, all statements in this news release regarding, without limitation, new project acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; Actual results and future events could differ materially from those anticipated in such statements.