Strongbow Discovers New Nickel-Copper Sulphide Mineralization at Snowbird Nickel Project
September 01 2009 - 8:30AM
Marketwired
Strongbow Exploration Inc. (TSX VENTURE: SBW) is pleased to provide
the following exploration update.
Snowbird nickel project - A summer field program at Strongbow's
wholly owned Snowbird nickel project is now complete. During the
two week program, company geologists discovered several new areas
of nickel-copper sulphide mineralization associated with norite,
gabbro and pyroxenite intrusions. The new mineralized areas, as
well as a number of showings identified in 2008 and re-evaluated
during the current program, are located in close proximity to
previously identified geophysical and geochemical anomalies.
Mineralization typically consists of pyrrhotite and chalcopyrite in
concentrations ranging from trace amounts up to ten percent. Rock
samples collected during the program have been submitted for assay
with results expected by mid-September. Results will be used as the
basis for selecting the highest priority targets for ground
geophysical surveys and drill testing in 2010. The Snowbird project
straddles the Saskatchewan/Northwest Territories border in an area
that the Company believes is highly prospective for magmatic
nickel-copper sulphide deposits similar to the Company's wholly
owned Nickel King deposit (please see Strongbow news release
#09-08, dated July 15, 2009).
Chu Chua property - Strongbow has signed an agreement with a
private company providing an option to purchase Strongbow's 100%
interest in the Chu Chua base metal massive sulphide deposit
located in central British Columbia. To exercise the option, the
private company must pay $25,000 and issue up to 2 million shares
of a publicly traded company. Strongbow will also retain a 1% net
smelter returns royalty on any future mineral production from the
deposit. The agreement is subject to several additional terms and
conditions, and is expected to close by the end of December, 2009.
Strongbow had recently been returned ownership of the Chu Chua
deposit after a previous option and purchase agreement had
expired.
Lithium exploration agreement - Strongbow has entered into an
agreement with North Arrow Minerals Inc. (TSX VENTURE: NAR) to
acquire mineral rights and explore for lithium within an
established area of interest. The area of interest referred to in
the agreement is located in an area known to host spodumene-bearing
pegmatites. Spodumene is a primary lithium bearing silicate
mineral. Under terms of the agreement with North Arrow, once
Strongbow has incurred expenditures of US$2 million within the area
of interest, North Arrow may exercise a back-in right to acquire an
undivided 40% interest in the AOI and any mineral or other rights
acquired by Strongbow within the AOI. If North Arrow elects to
exercise the back-in right, it must spend US$2 million within
thirty-six months from the date of notice, including minimum
expenditures of US$500,000 within each twelve month period.
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 within the meaning
of National Instrument 43-101.
STRONGBOW EXPLORATION INC.
Kenneth A. Armstrong, President and CEO
The TSX Venture Exchange has not reviewed, and does not accept
responsibility for the adequacy 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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