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Bowmore Exploration Ltd
Symbol BOW
Shares Issued 72,879,295
Close 2014-10-21 C$ 0.055
Market Cap C$ 4,008,361
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Bowmore starts trenching at Victoria Lake

2014-10-24 16:20 ET - News Release

Mr. Paul Dumas reports

BOWMORE SIGNS FORMAL OPTION AGREEMENT AND BEGINS EXPLORATION PROGRAM AT THE VICTORIA LAKE TIN PROPERTY IN NEW BRUNSWICK, CANADA

Bowmore Exploration Ltd. has signed a formal option agreement to acquire 100 per cent of the Victoria Lake property located in southwestern New Brunswick, Canada, from a group of private owners (see news release dated Sept. 16, 2014) and has begun its exploration program.

The property

The property is composed of 126 claims covering approximately 3,100 hectares and is located in Charlotte county along the southwest part of New Brunswick, roughly 40 kilometres west of Saint John City and 17.5 km southwest of the Mount Pleasant mine.

The property covers multiphase of the Mount Douglas granite that was explored in the 1970s by Noranda for copper, and in the 1980s by Biliton and Falconcrest for tin and tungsten. Numerous anomalous tin, tungsten, indium and molybdenum zones, hosted in granitic greisen filled in fractures and stockwork, were identified by surface sampling and drilling. Best intercepts were obtained from drilling done in 1983 by Biliton along induced polarization, very low frequency anomalies, namely C83-01 and -02, grading 0.137 per cent Sn over 18.2 metres and 0.118 per cent Sn over 5.6 metres (apparent width), respectively.

After a thorough compilation of historical data, untested zones were identified for further soil sampling:

  • A new sector associated with numerous Sn occurrences (0.08 per cent to 1.4 per cent Sn) located on the eastern part of the property;
  • Kilometric east-west-trending IP (induced polarization) and VLF electromagnetic anomalies that were drill tested for copper by Noranda in the 1970s within the eastern part of the property;
  • Similarly, on the north and south extensions of greisen shears associated to other kilometric IP and VLF EM anomalies;
  • Sampling on the northern extension grid to verify the geochemical signature of the east-west-trending fault and the contact delineated by the western limit of a large magnetic anomaly.

The company is conducting a phase 1 sampling (greater than 600 samples) and trenching program in order interpret the geochemical anomalies and to indentify future drill targets.

Jean-Marie Pronovost, PGeo, chief geologist for Bowmore, is the qualified person who has reviewed this news release and is responsible for the technical information reported herein.

Paul Dumas, president of Bowmore, stated: "We are pleased with this opportunity to acquire the Victoria Lake property. This allows the company to diversify and expand its strategic exploration portfolio into the tin market given the high price and lack of global resources for this valuable commodity. We believe that with the current pullback of the gold price, Bowmore can benefit from diversifying outside of the gold sector, and will continue to look for and capitalize on opportunities that presents itself demonstrates above-average potential within a sector."

We seek Safe Harbor.

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