Marketwired Land position doubles in the BMC and now exceeds 40,000 hectares
MONTRAL, QUBEC--(Marketwired - June 5, 2017) - Bowmore Exploration Ltd. (the "Company" or "Bowmore") (TSX VENTURE: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: https://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.