 | | | Publié le 27 septembre 2012 | Identifies High Priority Drill Targets at the Ridgeway Gold Project, South Carolina |
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September 27, 2012
Strongbow Identifies High Priority Drill Targets at the Ridgeway Gold Project, South Carolina
Strongbow Exploration Inc. (SBW:TSXV) is pleased to report that recently completed soil geochemical and bedrock mapping surveys at the Company's Ridgeway gold project, South Carolina have identified new high priority targets located directly along strike from the past producing Ridgeway gold mine.
A total of 167 geochemical and prospecting samples were collected and two new target areas have been identified. A gold-in-soil anomaly measuring 700 metres by 400 metres has been identified approximately 350 metres east of the Ridgeway gold mine's North Pit, which hosted approximately half of the 1.5 million ounces of gold mined from the site in the 1990's. A second, larger gold-in-soil anomaly covers a 600 metre by 1,000 metre area centred approximately 1,400 metres to the east of the North Pit. The southern portion of this larger soil anomaly is cored by two soil samples that returned values exceeding 400 ppb Au and separated by 200 metres. In addition to gold, both of the new target areas are further defined by coincident anomalies of arsenic, molybdenum and tellurium, which are key pathfinder elements at the Ridgeway mine. The new targets cover a portion of the along strike extension of the host stratigraphic sequence to mineralization at the North Pit and are located on properties that were not subject to drilling during exploration and development of the Ridgeway mine.
These new, high priority targets help to further define a prospective corridor of quartz-sericite alteration that extends eastwards from the Ridgeway mine. Surface exploration work and drilling conducted by Strongbow in May 2012 on a property five kilometres east of the North Pit encountered hydrothermal alteration with associated, locally anomalous, gold and molybdenum values within mafic to felsic volcanic rocks. Sonic drill hole RS12-06 returned values from background up to 157 ppb Au, and is situated within a 700 metre by 400 metre gold, molybdenum and arsenic soil geochemical anomaly, in an area where strongly sericite altered felsic volcanic rocks and siliceous exhalites have been mapped at surface (please see Strongbow news release #12-06 dated July 26th, 2012).
The Company's Lloyd Zone prospect, situated 3.2 km east of the Ridgeway mine, provides key evidence that satellite hydrothermal systems, similar to the Ridgeway mine, could occur elsewhere within the mine stratigraphy. Strongbow's sonic drill hole RS12-02 tested the Lloyd Zone and intersected, from surface, 28.96 m grading 0.97 g/t Au, 8.4 g/t Ag, and 1,840 ppm Mo, including 4.57 m grading 3.3 g/t Au, 42.0 g/t Ag and 6,960 ppm Mo (please see Strongbow news release #12-06 dated July 26th, 2012). Further drilling is required at depth and along strike to the west to fully test this zone.
The results from follow up geochemical sampling of the new targets are currently pending. Additional work, subject to financing, will include geophysical surveys followed by sonic and diamond drilling to fully evaluate the potential of this mineralized trend.
Change to Board of Directors
Strongbow also reports that Keith Christofferson has resigned, for personal reasons, as a director of the Company. Ken Armstrong, President and CEO of Strongbow stated "On behalf of the Board of Directors, I'd like to thank Keith for his service to the Company. I have greatly appreciated Keith's advice and guidance during his tenure as a director since the formation of Strongbow in 2004."
About the Ridgeway and Midway Projects
The Ridgeway project covers a prospective area of the Carolina Slate Belt (CSB) located along strike to the east of Rio Tinto's past producing Ridgeway gold mine. The Ridgeway mine produced approximately 1.5 million ounces of gold between 1988 and 1998 and is the second largest known gold deposit in the CSB, second to Romarco Minerals' Haile gold mine, located 50 kilometres (30 miles) to the northeast. Strongbow's Midway gold project is located adjacent to the Haile mine, within the 16 kilometre (10 mile) Haile-Brewer gold trend. The Haile mine is currently at the permitting stage with current measured and indicated resources reported by Romarco of 4.0 million ounces gold with additional inferred resources of 0.8 million ounces gold.
Strongbow's exploration programs are conducted under the supervision of David Gale, P.Geo. (BC), Vice-President of Exploration for Strongbow and a qualified person under NI 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
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 | |
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Données et statistiques pour les pays mentionnés : Canada | Tous Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous
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Strongbow Exploration Inc.
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EXPLORATEUR |
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CODE : SBW.V |
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ISIN : CA8633631079 |
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Strongbow est une société d’exploration minière de nickel et de cuivre basée au Canada. Strongbow détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont 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 et WEST KITIKMEOT (NTI PROPERTIES) au Canada et AVOCA et PARKER (NORTH CAROLINA) en Irlande. Strongbow est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 5,5 millions CA$ (4,1 millions US$, 3,5 millions €). La valeur de son action a atteint son plus bas niveau récent le 21 novembre 2008 à 0,02 CA$, et son plus haut niveau récent le 18 février 2011 à 8,00 CA$. Strongbow possède 60 570 000 actions en circulation. |
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