Strongbow options gold target

Vancouver — An agreement with Almaden Minerals (AMM-T) gives Strongbow Exploration (SBW-V) the right to earn up to a 60% interest in the Sam property, near Lytton, B.C.

The property hosts two gold-bearing vein systems and several untested geochemical anomalies previously discovered by Almaden. The two showings, JJ and Discovery, are 3 km apart.

Sampling and trenching of the Discovery target returned widespread but low-grade gold values. JJ is a high-grade target consisting of two closely spaced veins. Gold values of 12.8-53.4 grams per tonne were obtained from channel samples of vein material. Values ranging from 4.5 to 9.2 grams were obtained from altered wall rock.

The targets are believed to represent a previously unexplored, low-sulphidation epithermal gold district. Soil and stream-silt sampling, ground geophysics, and more trenching are planned in advance of drilling in the autumn.

To earn the initial 51% interest, Strongbow must issue 600,000 shares to Almaden and spend at least $2 million on exploration by the end of 2008. The company can boost its ownership to 60% by spending an additional $2 million and issuing 200,000 more shares to Almaden.