Press release from Marketwire
BOWMORE Exploration Ltd.: Mid-Summer Exploration Update
Tuesday, August 07, 2012
BOWMORE Exploration Ltd.: Mid-Summer Exploration Update08:45 EDT Tuesday, August 07, 2012MONTRÉAL, QUÉBEC--(Marketwire - Aug. 7, 2012) -BOWMORE Exploration Ltd. (TSX VENTURE:BOW)(FRANKFURT:0B5) ("Bowmore") is pleased to provide an exploration update on its three main exploration properties, the St-Victor property located in southern Quebec, the Duverny/StandardGold property in Abitibi Quebec and the Chivas property located in the Sonora State of Mexico.St-VictorThe Company has completed its Phase Two drill program on its 100% owned St-Victor property, located 15 km east of the town of Asbestos in south-eastern Quebec. The second phase drill program consisted of 5 holes totaling 1200 meters, designed to test the extensions of Wotton NW gold zone, where the 2011 drill program intersected homogenous gold mineralization hosted by bedded/disseminated pyrite in a unit of black slate (the cross section can be view at www.Bowmorexploration.com/St-Victor/Mineralizedunit.jpg). The best intersection in 2011 returned 115 meters grading 0.35 g/t Au (see December 15, 2011 press release). The purpose of the Phase Two drill program was to test the continuation and potential grade improvement of the stratabound gold mineralization along strike of a fold structure. The Phase Two program was successful in that the unit of pyritic slate was intersected in all five holes. The Company expects to release all results of the program within the next two weeks.Duverny/Standard GoldThe Standard gold and Duverny properties are contiguous and are located in Duverny Township in the Abitibi region of Quebec, about 19 kilometres 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 seven by eight kilometres) zone of carbonate alteration (ankerite) and an array of 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 as well as Kalgoorlie in Australia. Drill testing of the area of the Standard Gold Mine in the winter of 2012 returned encouraging results, including 68 metres grading 0.74 g/t Au (see March 29, 2012 press release). An airborne geophysical survey was completed last spring, where four high-priority electromagnetic conductors were identified on the Standard Gold property. A geological mapping and sampling program is presently underway to better characterize the large carbonate alteration zone and distribution of gold showings on the property.Bowmore has an option on both the Standard gold and Duverny properties. It has a right to acquire a 51-per-cent interest in the Standard gold property from Threegold Resources by making total cash payments of $280,000 and incurring expenditures of $4-million over a five-year period. Bowmore may acquire an additional 19-per-cent interest (total of 70 per cent) by incurring $6-million in exploration expenditures over an additional five-year period. ChivasThe Company completed in late June 2012 Phase One diamond drill program on the Chivas property located in Sonora, Mexico. This first phase diamond drilling program consisted of 7 holes for 2065 meters, targeting 3 of the 5 main zones previously identified by our exploration program. The three zones tested were: The IP geophysical anomalies on the Silica Cap zone, where moderate to strong chargeability values were discovered over large volume of rock extending SSE-NNW;The Mesa Blanca zone where high resistivity anomalies at the sub-surface were found, indicating the presence of anomalous silica content associated with disseminated sulphide. It also corresponds to previous surface sampling and identification of high silicification and a large area with presence of anomalous alteration mineralogy (buddingtonite) from the TerraSpec sampling program done in early 2011;The Piedra Rodante gold-silver zone to follow up on the extensions of known mineralization to the south and at depth.Final assay results of the first drill program are pending and should be available within the coming weeks. The work on the property so far has identified a very large 5.2 km2 low sulphidation epithermal system. The Company has only drilled tested a limited area of this system.The Chivas Property is composed of 2 claims covering over 24,841 hectares and is located within the Sierra Madre Occidental gold belt ("SMO"). The SMO is host to published production and reserves of more than 40 Million ounces of gold and 2 Billion ounces of silver. The property is optioned and operated by Amex Exploration Ltd. (TSX VENTURE:AMX) ("Amex"). The property is 15 kilometres to the west of the Dolores Mine previously owned by Minfinders Corporation Ltd. and now Pan American Silver Corp. The earn-in option provides Bowmore the right to acquire up to 70% interest in the property (see news release dated April 8, 2010).Jean-Marie Pronovost, P.Geo., 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. 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.FOR FURTHER INFORMATION PLEASE CONTACT: Paul A. DumasBOWMORE Exploration Ltd.President & CEO(514) firstname.lastname@example.orgNeither 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.