"Osisko´s Exploration Company"
New land aquisition: 1164 claims in the Beauce area
Message: Intersects 68 Metres Grading 0.74 g/t Gold at Standard Gold Property
MONTREAL, QUEBEC--(Marketwire - March 29, 2012) - BOWMORE Exploration Ltd. (TSX VENTURE:BOW) (FRANKFURT:0B5) ("Bowmore") is pleased to announce results from the Phase One diamond drill program on its Standard Gold and Duverny properties, both located in the Abitibi region of Quebec. The objectives of this program were to confirm some of the historical gold intersections in proximity to the Standard Gold deposit, and test the host diorite dyke for possible extensions to gold mineralization along sections spaced several hundred metres apart. The dyke, defined from previous drilling and by its aeromagnetic signature, is 4.8 km long and 150 to 250 metres wide. It occurs on both properties and hosts the Standard Gold deposit. Both properties host a kilometric, intense carbonate (ankerite) alteration zone that is the regional exploration target.
The ten hole drill program covered a strike length of about 3600 meters around the Standard Gold deposit. Highlights are summarized in the following table:
|Hole No.||From (m)||To (m)||Length (m)||Au g/t|
DDH SG11-01, SG11-02 and SG11-06 were drilled into the known deposit over a strike length of about 380 metres. DDH SG11-03 and SG11-04 were collared 560 metres SE of the deposit and did not intersect significant mineralization. DDH SG11-05 was collared 1480 metres SE of the deposit and intersected 26.5 m grading 0.57 g/t Au along the southern margin of the intrusion. DDH SG11-07 was collared and drilled immediately NW of the deposit. Finally, DDH SG12-08, SG12-09 and DV12-01 tested the NW strike length of the diorite up to 2100 metres away from the deposit but did not intersect significant mineralization.
Mr. Paul Dumas, President and CEO of Bowmore Exploration Ltd., stated: "I am pleased with this first round of drilling on the Standard Gold property. A significant proportion of the gold mineralization in core was disseminated, confirming the potential for low grade bulk-tonnage type gold deposits on the Duverny-Standard Gold package. Further geological mapping and geophysical surveys are slated for spring and early summer to better define the regional carbonate alteration zone on these properties. This will no doubt yield new drill targets for 2012."
The Standard Gold and Duverny properties are contiguous and are located in Duverny Township in the Abitibi region of Quebec, some 19km northeast of the town of Amos. The property package and immediate area include three known gold deposits, including the past-producing Standard Gold Mine, which operated between 1935 and 1953.
Both properties encompass a very large (minimum 7 x 8 kilometres) zone of intense carbonate alteration (ankerite) and an array of significant shear zones in proximity to felsic intrusions. Such voluminous carbonate alteration zones are significant for gold exploration as they are associated with major know Archean gold camps, including Timmins, Red Lake and Larder Lake in Ontario and Kalgoorlie in Australia.
Bowmore has an option on both properties. It has a right to acquire a 51% interest in the Standard Gold property from Threegold Resources Inc. (TSX VENTURE:THG) by making total cash payments of $280,000 and incurring expenditures of $4,000,000 over a five year period. Bowmore may acquire an additional 19% interest (total of 70%) by incurring $6 million in exploration expenditures over an additional five year period.
Gilles Lanthier, P.Geo., independent geological consultant for Bowmore, is the Qualified Person who has reviewed this news release and is responsible for the technical information reported herein.
BOWMORE is a Canadian exploration mining company focused on precious metal exploration in Canada and Mexico.
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.
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.
Source: Marketwire Canada (March 29, 2012 - 8:00 AM EDT)
Please login to post a reply