bowmore exploration ltd (BOW) Snapshot

Bowmore Exploration Ltd. announced the company has entered into a formal option agreement whereby it can acquire 100% of the La Scie Gold Property, located in Newfoundland, Canada from owner Mr. Jason Burton. The Property is composed of 60 claims covering more than 1,500 hectares and is located along the eastern-most extent of the Baie Verte Peninsula, roughly 45 km east of the town of Baie Verte in the White Bay South District. In addition, Bowmore has claimed an additional 395 claims covering 9,875 hectares surrounding the La Scie Gold Property and covering the eastern extremity of the Baie Verte peninsula, for a total land package of 11,375 hectares or 113.75 km².

Bowmore Exploration Ltd. announced that it has signed a letter of intent to acquire 100% of the La Scie Gold Property, located in Newfoundland, Canada from Mr. Jason Burton, prospector. The letter of intent states that a formal option agreement is to be entered into on or before March 15th, 2013. The Property is composed of 60 claims covering over 1,500 hectares and is located along the eastern-most extent of the Baie Verte Peninsula, roughly 45 km east of the town of Baie Verte in the White Bay South District. Bowmore has also claimed an additional 395 claims covering 9,875 hectares surrounding the La Scie Gold Property and covering the eastern extremity of the Baie Verte peninsula, for a total land package of 11,375 hectares or 113.75 km2. The 11,375 hectares property cover the entire Baie Verte peninsula and the area has long been the focus of mining and exploration for copper and gold, dating back to the 1850's and primarily the 1980's, respectively. The rock lying to the east of the Baie Verte line belongs to the Baie Verte Belt which is part of the Dunnage Tectonostratigraphic Zone. The eastern-most area of the property has been under explored since efforts were mostly done along the Baie Verte line and the Bett's Cove Complex. Bowmore collected 43 whole rock and chip samples on the Western and the Central blocks of La Scie Gold properties to corroborate the gold showings within the property and to verify additional gold showings.

Bowmore Exploration Ltd. announced the start of Phase Two 3,000 meter diamond drill program on its Duverny property, located in the Abitibi region of Quebec. The objective of the second phase of drilling will be to test large zones of rusty iron carbonate alteration that host a number of gold showings, all identified through the summer 2012 sampling and geological mapping program. The drill targets include: Two gold showings of 1.35g/t Au over 3.4 meters and 1.76g/t Au over 2.4 meters that were obtained from chip samples taken this summer within historical trenches, located in the central part of the property, a few hundred meters north of the historical Cresus-Silverny gold showing; a second iron carbonate alteration zone extending ESE of the Claverny gold showing, located on the south eastern part of the claim block, 3.7 kilometers from the Cresus-Silverny showing; the Grenadier West zone located on the north-east part of the property. Gold values of up to 2.9g/t Au were obtained from grab samples taken within the area during the summer 2012 exploration program; the Duvay gold showing, located on the northern part of the property, where bulk samples for heap leach testing were taken in the late 80's. The iron carbonate (ankerite) alteration zones on the Duverny property cover a total of approximately 18 square kilometers. This intense rust-colored carbonate alteration is similar to what surrounds the historical, world-class Larder Lake, Timmins and Red Lake gold camps in Ontario. The 2012 summer exploration program consisted of geological mapping with 100 meter spacing surface rock sampling in order to define levels and types of mineralization and carbonate alteration. A total of 485 samples (424, 1kg grabs and 61 chip samples) were taken and sent for gold analysis at ALS Chemex, for which some results are still pending. The sixty one (61) chip samples were also analyzed by the same laboratory for multi element package ICP-MS41 while twenty four (24) of the grabs were analyzed for trace elements (CCP-PKG01). Gold content was first analyzed utilizing standard fire assay fusion of a 30 gram (AA23) or a 50 gram (AA24) charge, followed by Atomic Absorption Spectroscopy (Au 30-50g FA AA finish). All other elements, including silver, were analyzed utilizing Inductively Coupled Plasma - Atomic Emission Spectroscopy (35 Element Aqua Regia ICP AES) methods, on a prepared sample digested with aqua regia. The company is in the process of obtained all necessary agreements and permits for property access and drilling work to be done on the targeted areas.