MONTREAL, QUEBEC--(Marketwired - Oct 24, 2014) - Bowmore Exploration Ltd. (the "Company" or "Bowmore") (TSX VENTURE:BOW)(FRANKFURT:OB5) is pleased to announce that it has signed a formal Option Agreement (the "Agreement") to acquire 100% of the Victoria Lake Property (the "Property") located in southwestern New Brunswick, Canada from a group of private owners (the "Vendors") (See News Release dated September 16, 2014) and begins exploration program.
THE PROPERTY
The Property is composed of 126 claims covering approximately 3,100 hectares and is located in Charlotte County along the south west part of New Brunswick, roughly 40 km west of Saint John City and 17.5 km SW of the Mount Pleasant Mine.
The property covers multi-phase of the Mount Douglas granite that was explored in the 70's by Noranda for copper and in the 80's by Biliton and Falconcrest for tin and tungsten. Numerous anomalous tin (Sn), tungsten (W), indium (In) and molybdenum (Mo) zones, hosted in granitic greisen filled in fractures and stockwork, were identified by surface sampling and drilling. Best intercepts were obtained from drilling done in 1983 by Biliton along IP-VLF anomalies, namely C83-01 and -02, grading 0.137%Sn/18.2 meters and 0.118%Sn/5.6 meters (apparent width) respectively.
After a thorough compilation of historical data, untested zones were identified for further soil sampling:
- a new sector associated with numerous Sn occurrences (0,08 to 1.4%Sn) located on the eastern part of the property;
- kilometric EW trending IP (Induced Polarization) and VLF-EM anomalies that were drill tested for copper by Noranda in the 70's within the eastern part of the property;
- similarly, on the north and south extensions of greisen shears associated to other kilometric IP and VLF-EM anomalies, and
- sampling on the northern extension grid to verify the geochemical signature of the EW trending fault and the contact delineated by the western limit of a large magnetic anomaly.
The company is conducting a Phase 1 sampling (>600 samples) and trenching program in order interpret the geochemical anomalies and to indentify future drill targets.
Jean-Marie Pronovost, P. Geo., Chief Geologist for Bowmore, is the Qualified Person who has reviewed this news release and is responsible for the technical information reported herein.
Mr. Paul Dumas, President of Bowmore, stated, "We are pleased with this opportunity to acquire the Victoria Lake property. This allows the Company to diversify and expand its strategic exploration portfolio into the tin market given the high price and lack of global resources for this valuable commodity. We believe that with the current pullback of the gold price, Bowmore can benefit from diversifying outside of the gold sector, and will continue to look for and capitalize on opportunities that presents itself demonstrates above average potential within a sector."
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.