TSXV: BOW $0.23 + 0.04  | Gold price: $1,361.00 - 26.10  | Silver Price: $22.16 - 0.48
Bowmore Exploration Ltd. (BOW-TSXV) is a Canadian emerging exploration company focused on the acquisitions, exploration and development of gold mineral properties in Canada and Mexico. Our objective is to position ourselves in proven mineral jurisdictions with favorable geology, friendly regulatory structure and political stability. In mid 2009 the Company development a strategic alliance with Osisko Mining Corporation whereas Osisko acquired approximately 33% of Bowmore Exploration through a private placement and named two of their top executives Mr. Robert Wares and Sean Roosen to the board of directors of Bowmore.
Our goal is to develop underexplored properties, benefit from deal flow generated by our strategic partnership and growth opportunities from grass-root mineral properties.
In June 2009 the Company signed a strategic alliance with Osisko Mining Corporation Ltd., whereas Osisko acquired approximately 33% of Bowmore Exploration through a private placement and named two of their top executives Mr. Robert Wares and Sean Roosen to the board of directors of Bowmore. The parties believe that their strategic alliance should create shareholder value for both Osisko and Bowmore, as Osisko intends to involve Bowmore in exploration projects that would not be suitable for Osisko given its focus on the Canadian Malartic gold deposit, and thereby reduce Osisko's exploration risk, and Bowmore will benefit from deal flow generated by Osisko.
As Osisko's strategic partner in future grass-roots exploration projects, Bowmore will be able to move quickly to evaluate opportunities of merit. This will allow Osisko to participate in grassroots exploration as a significant shareholder. Our goal is to enhance value for our shareholders by providing a solid pathway for the Company's future growth".
Osisko Mining Corporation is currently developing the Canadian Malartic gold deposit and evaluating adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Canadian Malartic deposit currently represents one of the biggest gold reserves in Canada for a single deposit, and is still growing through ongoing drilling on new mineralized zones. Current reserves for the Canadian Malartic property (including the adjacent South Barnat deposit) are 8.97 million ounces, plus a global measured and indicated resource of 2.23 million ounces and an inferred resource of 0.47 million ounces.
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