Vancouver, June 23, 2020
Strongbow Exploration Inc. (TSX-V: SBW) (“Strongbow” or the “Company”) is pleased to provide an update on plans to drill test both the South Crofty tin project and the new United Downs copper-tin discovery in Cornwall, UK.
The Company has entered into a drilling contract with Priority Drilling of Ireland and drilling has commenced at South Crofty this week.
South Crofty Drill Programme
A 2,000m drill programme has been designed to test the extension of high-grade tin mineralisation beneath the No. 4 and No. 8 Lodes in the central section of the South Crofty mine complex. One “parent” drill hole and up to three “daughter” holes (wedged off the “parent” hole) are planned. Historic drilling (18 drill holes in the 1990s) in the target area beneath No. 4 Lode intersected an average grade of 2.17% Sn over a width of 2.54m. For context, 2.17% Sn equates to a copper equivalent grade of 6.55% Cu (using current tin and copper prices (US$ 7.82 / lb and US$2.59 / lb, respectively).
United Downs Drill Programme
The Company announced the discovery of high-grade copper and tin mineralisation at its United Downs project on April 6, 2020 – 14.69m grading 8.45% Cu, 1.19% Sn and 0.15% Zn (true width not yet established – see news release here). Permitting is in process with the aim that drill testing will commence following the completion of the South Crofty drilling.
As announced on April 6, 2020, Cornish Lithium completed two diamond drill holes at United Downs in their search for lithium in brines. Prior to the COVID-19 lockdown only a short section of GWDD-002 was logged and sampled. The Company is now the process of logging and sampling the remaining drill core from both GWDD- 001 and GWDD-002 and results will be reported in due course.
Strongbow completed the acquisition of the South Crofty tin project plus additional mineral rights located in Cornwall, UK, in July, 2016 (see Company news release dated July 12, 2016). The additional mineral rights cover an area of approximately 15,000 hectares and are scattered throughout Cornwall. Some of these mineral rights cover old mines that were historically worked for copper, tin, zinc, and tungsten.
In January 2017, the Company announced that it had entered into an agreement with Cornish Lithium, a private exploration company, whereby Cornish Lithium was granted the right to explore Strongbow’s mineral rights in Cornwall for lithium in brine occurrences (see Company news release dated January 19, 2017).
Cornish Lithium conducted drill testing at United Downs in late 2019 / early 2020. United Downs is located approximately 8km east of South Crofty within a densely mined district, historically referred to as Gwennap.
SOUTH CROFTY PROJECT
The South Crofty project covers the former producing South Crofty tin mine located in Pool, Cornwall. South Crofty mine closed in 1998 following over 400 years of continuous production. Since acquiring the project in 2016, Strongbow has completed and published maiden NI43-101 compliant mineral resources for South Crofty using the vast archive of historical production data and more recent drilling completed between 2007 and 2013. In 2017, Strongbow completed a Preliminary Economic Assessment that demonstrated the economic viability of re-opening the mine. Additionally, Strongbow has undertaken extensive pilot-scale water treatment trials and successfully applied for and received the necessary environmental permits to abstract, treat and discharge mine water in order to dewater the mine. Planning permissions for the operation of the mine and re-development of the surface facilities have been secured and construction of the water treatment plant foundations commenced. The dewatering pumps, variable speed drives and new high-voltage power supply have been delivered to site and efforts continue to raise the necessary funds to commence dewatering and continue feasibility studies.
UNITED DOWNS PROJECT
The United Downs project covers, or is located immediately adjacent to, four former copper and tin producing mines: Consolidated Mines and United Mines to the west; and, Mount Wellington and Wheal Jane Mines to the east. The main mineralised structures in all four mines trend ENE and dip steeply to the north. All of the mineralisation exploited historically is related to either quartz veins or quartz-tourmaline veins hosted within “killas”, the local name for metasedimentary rocks that overlie granite intrusions.
At the nearby South Crofty Mine, copper-tin-zinc-tungsten mineralisation hosted within the killas passes into tin mineralisation at depth as the mineralised vein-like structures pass into the underlying granitic host rock. The same zonation potentially exists at United Downs, where only the killas-hosted mineralisation has been exploited to date. The underlying granite, which is a target for further tin mineralisation, was encountered in GWDD-002 between 300 and 600m and again at 700m vertical depth.
The nearby Wheal Jane mine was discovered and developed into a modern mine in the late 1960s, initially by Consolidated Goldfields, and thereafter by Rio Tinto Zinc. Mining activities at Wheal Jane ceased in early 1991.
The technical information in this news release has been compiled by Mr. Owen Mihalop. Mr. Mihalop has reviewed and takes responsibility for the data and geological interpretation. Mr. Owen Mihalop (MCSM, BSc (Hons), MSc, FGS, MIMMM, CEng) is Chief Operating Officer for Strongbow Exploration Inc. and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined under the JORC Code (2012) and as a Qualified Person under NI 43-101. Mr. Mihalop consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.
For additional information please contact: Irene Dorsman at (604) 210 8752 or by e-mail at email@example.com or Sherman Dahl of Pretium Communications at (250) 558 8340.
Blytheweigh (Financial PR/IR-London) Tel: +44 207 138 3204
Tim Blythe firstname.lastname@example.org Camilla Horsfall email@example.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Richard D. Williams”
Richard D. Williams, P.Geo
Neither the 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.
Caution regarding forward looking statements
This news release contains “forward-looking statements” including but not limited to statements with respect to Strongbow’s plan to conduct drill testing at South Crofty and United Downs. There is no guarantee that Strongbow will be successful in obtaining the necessary permissions to drill at United Downs. Further, the timing for a drill programme has been and might continue to be impacted by the COVID-19 situation and restrictions related to movement of people In the event future drilling is conducted there is no guarantee that results will be of similar nature to those presented in this news release.
Forward-looking statements, while based on management’s best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, risks related to general economic and market conditions; risks related to the availability of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in Mineral Resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations.
Although Strongbow has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Strongbow undertakes no obligation or responsibility to update forward-looking statements, except as required by law.