Strongbow Acquires Midway Gold Project Within the Haile-Brewer Gold Trend, South Carolina
2010年9月20日 - 9:30PM
Marketwired
Strongbow Exploration Inc. (TSX VENTURE: SBW) is pleased to
announce it has concluded fifteen option agreements with private
land owners within the Haile-Brewer gold trend in South Carolina,
USA. The Haile-Brewer trend extends for over 15 kilometres between
the past-producing Haile and Brewer gold mines located within the
volcanic and sedimentary rocks of the Carolina slate belt (CSB).
The CSB is host to a number of additional past producing mines
including Rio Tinto's Ridgeway mine which had total gold production
of approximately 1.5 million ounces. Strongbow's Midway gold
project (http://www.strongbowexploration.com/s/midway.asp)
encompasses approximately 1,900 acres of prospective geology
located between and along strike from Romarco Minerals Inc.'s (R:
TSXV) Haile gold mine and Buzzard exploration properties. Current
measured and indicated resources reported by Romarco for the Haile
gold mine consist of 2.2 million ounces gold with additional
inferred resources of 2.0 million ounces gold.
"Acquisition of the highly prospective, underexplored properties
of the Midway gold project represents an opportunity for Strongbow
to step into an emerging world class gold camp," commented Ken
Armstrong, Strongbow's President and CEO. "There are not many
places where you can identify and acquire exploration properties in
such close proximity to established multi-million ounce gold
resources in a low cost, mining friendly jurisdiction such as South
Carolina."
The Midway project includes over 1,450 contiguous acres covering
a 2.5 kilometre strike length of the Haile-Brewer gold trend.
Despite its location along strike from and in close proximity to
the Haile and Buzzard properties, extensive coastal plain sand
deposits cover these Midway properties, and as a result comparably
little past exploration work has been conducted in this area.
Importantly, at the Haile gold mine, Romarco has recently reported
the discovery of significant gold mineralization outside of
existing resources and beneath the coastal plain sands, including
intercepts of 60.7 metres (m) grading 11.9 grams per tonne (g/t)
gold and 148.3 m grading 3.6 g/t gold at the newly discovered
Horseshoe zone. Discovery of the Horseshoe zone confirms the
potential of the CSB to host additional high grade gold
mineralization along strike from the Haile gold mine beneath the
sands of the coastal plain cover sequence.
In the Midway project area, the unconsolidated coastal plain
sands are estimated to be less than 10 m thick and government
mapping along a local creek bed has identified a volcanic-sediment
contact considered to be an important local control on gold
mineralization. Initial prospecting of the Midway properties by
Strongbow has identified clay alteration within CSB rocks exposed
along streambeds at two separate locations. A series of narrow
quartz veins were noted at one of the locations. PIMA analyses of
samples from this altered bedrock have confirmed the presence of
kaolinite and possible sericite clays. The presence of these clay
minerals is significant, as kaolinite/sericite/quartz alteration
has been described in close spatial relationship to gold
mineralization at the Haile gold mine.
The Midway project also includes two land parcels that directly
adjoin Romarco's Buzzard property. Reported results from
exploration in the Buzzard area by Cepeda Minerals Inc. during the
1990's included highlight drill results of 129 feet (39.3 m)
grading 0.259 ounce per ton (opt) gold (7.3 g/t) and 275 feet (83.8
m) grading 0.025 opt gold (0.7 g/t).
Terms of the option agreements covering the Midway project
include certain annual cash payments to the landowners and, subject
to regulatory approval, the issuance of 100,000 common shares to
Mr. Thomas Thompson. Upon exercising each of the options, Strongbow
will either purchase each subject property or enter into a long
term mining lease. The properties will be subject to a gross
overriding royalty to the current land owners.
Planning is underway to commence an initial exploration program
on the Midway project this Fall, including geochemical and
geophysical surveys. Strongbow's 2010 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.
Kenneth A. Armstrong, President and CEO
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.
Contacts: Strongbow Exploration Inc. Ken Armstrong President and
CEO 604 668 8355 604 668 8366 (FAX) info@strongbowexploration.com
www.strongbowexploration.com
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