Bowmore Exploration Ltd. (the “Company” or “Bowmore”) (TSXV:BOW)(FRANKFURT:0B5) is pleased to announce that it has acquired a significant land position by staking an additional 1,164 mineral claim units covering a surface area of 24,572 hectares in the Bathurst Mining Camp (“BMC”) of New Brunswick. Following the acquisition of the Brunswick Belt in March (see March 7 press release), the Company now controls more than 40,000 hectares in the district. The mineral claims are located southwest of the City of Bathurst, in New Brunswick, and are illustrated on the following map: http://www.marketwire.com/library/20170604-1096500-Map-gr.jpg.
The Bathurst Mining Camp was a major producer of base metal ores for over fifty years, with total production reaching approximately 136 M tonnes of 12% Zn+Pb before the closure of Brunswick No.12 in 2013. Glencore Canada abandoned a significant number of claims in the camp in recent months, allowing the Company to acquire key exploration ground.
The Company intends to change its name to Osisko Metals Incorporated (“Osisko Metals”) in order to create a new base metal exploration and development company within the Osisko group of companies (see June 1 press release). Osisko Metals will be focused in Eastern Canada in the medium term with an emphasis on zinc exploration and development projects.
Jeff Hussey, incoming President and CEO commented, “The Company’s increased land position in the Bathurst Mining Camp gives Osisko Metals an excellent opportunity to explore in one of the best areas in Canada for zinc. Modern geological interpretation has opened up new areas for exploration in the BMC and the Company will capitalize on these new models. The near-term strategy will focus on exploration and resource definition of multiple smaller scale deposits that can potentially be combined into a centralized concentrator.”
Jeff Hussey P. Geo., is the Qualified Person who has reviewed this news release and is responsible for the technical information reported herein.
About BOWMORE EXPLORATION LTD.
Osisko Metals Inc. (an Osisko group company) is a Canadian base metal exploration and development company exploring to create value in the zinc space in Canada. In 2017, the Company acquired 40,000 hectares in the Bathurst Mining Camp (“BMC”), a major zinc-lead-silver producing district. The objective is to re-evaluate the BMC for a multi-deposit model combined with a central concentrator. Several deposits are currently being reviewed. In Quebec, the Company acquired 42,000 hectares that cover 12 grass-root zinc properties that will be selectively advanced. In parallel, Osisko Metals will be monitoring zinc-oriented peers for other opportunities. Osisko Gold Royalties Ltd. (TSX:OR)(NYSE:OR) is a significant shareholder of the Company with approximately 20.5% ownership.
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.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information provided in this news release about the exploration and/or resource development projects, including new results from drill programs, the significance of assay results, potential mineralization, including the discovery of new mineralized zone, the potential to extend mineralization in any direction, the ability to complete any proposed exploration activities and the results of such activities, the continuity or extension of any mineralization and any other information herein that is not a historical fact, may all be forward-looking information. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
This forward-looking information is based on reasonable assumptions and estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Company to complete further exploration activities, including drilling; property interests in the relevant projects; the ability of the Company to obtain required approvals and complete transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Company cannot guarantee shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
To view the map associated with this press release, please visit the following link: http://www.marketwire.com/library/20170604-1096500-Map-gr.jpg
President & CEO
BOWMORE Exploration Ltd.