Overview
Strongbow Exploration Inc. currently has exposure to approximately 1,355,853
hectares (3,350,266 acres) of mineral rights covering highly attractive gold,
diamond and base metal prospects in the Northwest Territories and Nunavut.
Strongbow’s goal is to maintain its broad exposure to the highest profile
exploration plays in Canada’s north through direct exploration and joint
venture partnerships. The recent announcement of kimberlite discoveries on
Strongbow’s 33.3% owned
Wales
Island property is an indication of the
kind of exploration success this leveraged approach can yield.
In 2003, Strongbow Resources Inc. completed the strategic shift of the company’s
exploration focus from Ireland and Northern Ireland to the search for diamonds,
gold and base metals in northern Canada. With a similar geographic and commodity
emphasis, Navigator Exploration Corp. was a natural fit for amalgamation with
Strongbow. The amalgamation was completed and Strongbow Exploration Inc. was
formed May 3, 2004.
NTI Agreement
In early March 2003, a final comprehensive Mineral Exploration Agreement was
signed between Strongbow and Nunavut Tunngavik Incorporated (NTI), the corporate
entity administering Inuit owned mineral rights in Nunavut. Under this Agreement,
Strongbow acquired the exclusive right to explore for, develop and mine minerals
on 600,000 hectares of Inuit Owned Lands in the West Kitikmeot Region of Nunavut.
These lands comprise 28 separate land parcels scattered over some of the highest
gold and base metal mineral potential in the North Slave geological province.
By 2003 year end, Strongbow had spent in excess of $1.3 million to compile historical
exploration data and complete aeromagnetic surveys over all 28 IOL parcels as
well as carry out till sampling for kimberlite indicator minerals, geological
mapping, prospecting and confirmation sampling of recorded mineral occurrences
in selected areas. This work gave Strongbow a 100% interest in the Inuit Owned
minerals, allowed the Company to reduce lands held under the NTI Agreement by
50% (to approximately 300,000 ha) and identified at least 10 exploration projects
with potential to produce deposits of gold, silver, copper, zinc and diamonds.
Principal projects that are at least partly subject to the NTI Agreement include
Musk,
Canoe
Lake,
Anialik/Rush,
Blue
Lake,
Napaktulik, and
Ulu
South.
© Copyright
2004 by Strongbow Exploration Inc. All rights reserved.
www.strongbowexploration.com
