MONTRÉAL, QUÉBEC--(Marketwire - Aug. 23, 2012) - BOWMORE Exploration Ltd. (TSX VENTURE:BOW) ("Bowmore" or "the Company") is pleased to announce results from the 2012 drill program on the 100% owned St-Victor property, located 15 km east of the town of Asbestos in south-eastern Quebec. This exploration program was designed to test the extensions of Wotton NW gold zone, where the 2011 drill program intersected relatively homogenous gold mineralization hosted by bedded/disseminated pyrite in a unit of black slate (best intersection of 115 metres grading 0.35 g/t Au in DDH V11-01; see December 14, 2011 press release). The St-Victor program is exploring this geologically favorable environment for low-grade, bulk tonnage gold deposits similar to those found at Sukhoi Log (Siberia) or at Kinross' Paracatu Mine in Brazil. The Paracatu mine produced 453,400 oz gold in 2011 at an average grade of 0.42 g/t Au and a cash cost of US$737/oz.
Five drill holes (total of 1193 metres) were completed to test the continuation and potential grade improvement of the stratabound gold mineralization both south-westward and 200 metres down-plunge along a gently dipping anticlinal fold structure.
All drill holes, returned anomalous gold values (better than 0.1 g/t Au over decametres) hosted within pyrite-bearing black slates. The table below summarizes significant assay results obtained from the Wotton NW, which is now evidenced to extend over a 1000 metres strike length:
Mr. Paul Dumas, President and CEO of Bowmore Explorations Ltd stated: "We are very pleased by the results of Phase 2 drill program on our Saint-Victor property. We have now traced the Wotton NW mineralized zone to over 1000 metres strike length, based on drilling and surface sampling. The results of our exploration work continue to be encouraging as they confirm the potential for a large bulk-tonnage gold deposit near the historic mining district of Asbestos and Thetford-Mines."
All holes were drilled at 50 to 60 degree dips towards the southeast, except for V12-09, which was collared on the same site at DDH V11-01 and drilled at 45 degrees toward the northwest. The latter did not intersect significant mineralization and is interpreted to have been drilled over the top of the mineralized horizon. The shorter mineralized interval in DDH V12-13 suggests the mineralized zone is shifted to the northwest of the fold structure deeper along the fold axis.
The Wotton NW and other mineralized zones on the St-Victor property confirm the potential for large, disseminated, low-grade sediment-hosted gold deposits in the region. Mineralization in the auriferous horizon is relatively homogeneous with 95% of samples returning grades in the 0.2 to 0.4 g/t Au range. The property is currently being geologically mapped in detail in order to better grasp the stratigraphic position and distribution of the pyritic gold-bearing horizon and its structural setting in the Wotton NW zone. The horizon is estimated to have a true thickness of 80 metres and Bowmore aims to establish the relationship between this gold-bearing horizon and the 125 kilometres of conductive units detected by the 2010 airborne geophysical survey. An airborne gravity gradiometer survey is also being contemplated in order to establish the potential for gold-rich massive sulfide (SEDEX) deposits on the property.
Bowmore follows strict QA-QC protocol measures in keeping with industry standards and regulatory reporting requirements. All drill cores was processed using descriptive logging and systematic sampling for analysis. NQ core samples were cut in half, with one half delivered to a commercial laboratory and the other half retained for future reference. Duplicates, blanks and standards were inserted into the sample sequence. Reported drill core assay weighted averages were calculated using a minimum of 0.20 g/t Au over successive intervals of 20 metres. The lengths of mineralized intervals of less than 20 metres were minimized. Lost core within mineralized intersections (generally less than 1%) were incorporated as blank intervals. All samples were prepared and analyzed at the facilities of ALS Chemex Val D'Or Quebec. The processed samples were submitted to a standard Fire Assay with AA technique (Au-AA-24) on a 50 gram sub-sample. The reader is directed to ALS Chemex website for more details: www.alsglobal.com/mineral.
Gilles Lanthier, P. Geo, principal consulting geologist 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. The Company trades on the TSX Venture Exchange under the symbol "BOW".
For further information on BOWMORE, visit www.bowmorexploration.com.
Except for statements of historical facts, all statements in this news release regarding, without limitation, the Private Placement, 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. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions actual results and future events could differ materially from those anticipated in such statements. Factors that may cause the actual results to differ materially from those in forward-looking statements include precious metal prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Please see the public filings of the Company at www.sedar.com.
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.