BOWMORE Has Earned its 50% Interest in the NATORA-SOUTH (CHIVAS) Gold
Property in Sonora State, Mexico, and Elects to Exercise its Option
for a 70% Interest
MONTREAL, QUEBEC -- (Marketwire) -- 12/05/12 -- BOWMORE Exploration
Ltd. (TSX VENTURE:BOW)("The Company") is pleased to announce that it
has acquired its 50% interest in the Chivas gold property (the
"Property") in the State of Sonora, Mexico, from the Amex Exploration
Inc. (TSX VENTURE:AMX)("Amex") subsidiary, "Minerales X-Ore de S.A.
de C.V.", a Mexican mining corporation.
The Company recently completed a 2065 meter drill program in June,
2012 (see news release dated September 20, 2012) whereby drilling
outlined a new hydrothermal mineralized breccia structure at Mesa
Blanca, and also extended laterally and at depth the Piedra Rodante
high grade low-sulfidation structure. The drill program intersected
high grade gold-silver veins at the Piedra Rodante zone, hosting up
to 12.85 g/t Au and 444.0 g/t Ag over 1.5 meters.
The Company has elected to exercise its right to acquire an
additional 20% interest in the property pursuant to the Option
Agreement between the Company and Amex (see News Release dated April
8, 2011). Bowmore will become the operator.
ABOUT NATORA-SOUTH PROPERTY
The Chivas Property is composed of 2 exploration titles covering over
24,841 hectares and is located within the Sierra Madre Occidental
Gold Belt ("SMO"). The SMO is known to host reserves of more than 40
Million ounces of gold and 2 Billion ounces of silver. The Chivas
property is 15 kilometers to the west of the Dolores Mine previously
owned by Minfinders Corporation Ltd. and now Pan American silver
The main mineralization discovered to date, located on the Chivas
property, is the Piedra Rodante zone. Here the mineralization is
emplaced in a N15E - N15W fault with a 65 degrees dip toward the
East, is known in outcrops and in various drill holes over a strike
length of about 1,000 meters and to a depth of 200 meters, and is
still open below this level.
The mineralized structure presents a low grade envelope, 10 to 20
meter wide, of greater than 1.0 g/t Au and greater than 100.0 g/t Ag
that include 1.5 to 6 meter wide intervals with greater than 8.0 g/t
Au and greater than 350.0 g/t Ag.
Down dip, the Piedra Ro
dante vein is marked by a low grade
mineralized envelop that surrounds the high-grade vein-breccia zone.
Within the low grade mineralized envelop there is a high grade zone
that continues within the 200 meter known vertical section, including
3 to 6 meter intervals with Au equivalent values between 5.0 g/t and
10.0 g/t. The best-mineralized interval was intersected in the
deepest drill hole with 6 meters of 10.0 g/t Au eq., including 1.5
meters of 20.0 g/t Au eq. The Ag:Au ratios do not present a clear
vertical zoning, with values varying between 40 and 140.
Mr. Paul A. Dumas President and CEO of Bowmore says: "We have decided
to exercise our option to earn a 70% interest in this property. This
decision was made clear following the recent results of the first
phase drill program that successfully demonstrated the extensions of
the mineralization laterally and at depth, obtaining higher grades at
depth on the Piedra Rodante zone, as well as a new discovery at Mesa
Blanca which is approximately 1.5 kilometers south of the Piedra
Rodante zone. Additional drilling at depth of these hydrothermal
low-sulfidation structures should demonstrate any economic
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".
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
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.
President & CEO
BOWMORE Exploration Ltd.
(514) 861 4441
BOWMORE Exploration Ltd.
Renmark Financial Communications Inc.
Bettina Filippone: email@example.com
John Boidman: firstname.lastname@example.org
(416) 644-2020 or (514) 939-3989
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