BWR Exploration Inc. Awarded Grant from Manitoba Mineral Development Fund
BWR has received notice that it will be receiving a $300,000 grant from the Manitoba Mineral Development Fund to advance its Little Stull Lake Gold Project;MMDF is administered by the Manitoba Chambers of Commerce endeavouring to achieve and encourage mineral and economic development initiatives in Manitoba with Indigenous Communities.TORONTO, Jan. 07, 2021 (GLOBE NEWSWIRE) — BWR Exploration Inc (the “Company” or “BWR”) (TSXV: BWR) is pleased to announce the Company has recently (December 30, 2020) received notice of the decision by the Board of the Manitoba Chambers of Commerce that a $300,000 grant from the Manitoba Mineral Development Fund (“MMDF”) will be provided to advance BWR’s Little Stull Lake Gold Project, located in Northeastern Manitoba. Prior to entering into a contribution agreement with the Manitoba Mineral Development Fund, BWR needs to provide confirmation of required permits and licensing from the Province of Manitoba for the proposed project and must also provide confirmation of additional funding for the project.BWR will be entering into discussion regarding the contribution agreement with the Manitoba Chambers of Commerce, over the next few weeks. It is anticipated that the contribution agreement will provide for 3 instalments of $100,000 each over the course of the proposed 2021/2022 exploration programs.“Advancing mineral exploration projects is critical to creating lasting economic benefits to communities in northern Manitoba,” said Chuck Davidson, President & CEO of the Manitoba Chambers of Commerce, and Chair of the Manitoba Mineral Development Fund Board, “MMDF is excited to support BWR Exploration’s Little Stull Lake Project and to see the future partnerships that emerge from this project.”Neil Novak, President and CEO, stated, “The generous grant from the Manitoba Mineral Development Fund represents a very strong endorsement by the Province for the Little Stull Lake Gold Project and the surrounding exploration area.” Mr. Novak continued, “We are pleased to see that the Manitoba government shares BWR’s vision of the economic potential that the Little Stull Lake Area has, that can create near and long-term jobs for the nearby communities of God’s River and God’s Lake Narrows, thus strengthening the provincial economy and establish mutually rewarding partnerships between Indigenous Communities and Mineral Exploration Companies, designed to stand the test of time.”The Little Stull Lake Gold Project is composed of 20 mineral claims (2,837 ha) surrounded by 2 extensive (36,006 ha) Mineral Exploration Licenses (“MEL”), collectively covering 38,843 hectares (388.43 square kilometres). The 20 mineral claims effectively cover the historically identified West Zone gold occurrence, as well as 6.4 kilometers of strike length of the Wolf Bay Shear Zone (“WBSZ”), hosting an additional 5 other historically identified gold occurrences; the two MEL’s cover much of the remaining exploration ground favourable for similar occurrences along a 40 kilometer WNW strike of the WBZ in Manitoba.The MMDF was launched by the Manitoba government in August 2020 with the specific goal of jump-starting mineral and economic development initiatives throughout the province with a focus on creating partnerships between First Nation communities and numerous Mining/Exploration companies looking to explore and develop projects in Manitoba with Indigenous community involvement. The MMDF aims to support new economic development opportunities that capitalize on Manitoba’s mineral endowment and infrastructure including the network of winter roads and trails, as well as power corridors that service Northern Manitoba.The Manitoba – First Nation Mineral Exploration and Development consultation protocol discussions have been ongoing for several years, and have resulted in only a few work permits being issued. This Provincial initiative and recent endorsement of BWR’s proposed early-stage exploration program at Little Stull Lake is a long awaited signal of support.Proceeds received from the grant will go directly to preparing the exploration camp located at Little Stull Lake for the arrival of an exploration crew for a 2021 exploration program that will eventually include several exploratory drill holes later in the year. Due to the Covid-19 pandemic and prior to the arrival of the drill crew and equipment, the existing camp needs to be upgraded and prepared to safely (Covid – 19 precautionary guidelines) house an exploration crew of up to 15 individuals. It is proposed that this camp upgrade will be done in partnership with Manto Sipi Cree Nation, details to be worked out in early 2021, once the pandemic in Northern Manitoba subsides allowing consultation to be concluded. BWR is in discussion with MSCN, who are currently endeavouring to create a Community owned camp and exploration service company that will provide exploration support services to mineral exploration companies.Once in the upgraded camp, BWR plans to accurately (within a few centimeters) relocate by high precision GPS surveying, many of the 219 historical drill holes, most of which are land based with collars still in place. Locating the historical holes will involve re-establishing the historical drill grid, and once each hole is located, BWR plans to complete down hole gyro surveying in accessible holes to support a 3D model of the historical, as well as future drill results. The recut drill grid in the vicinity of the 1.5 km long West Zone can also be used for a deep IP survey. The purpose of the IP survey will be to highlight zones of chargeability, resistance and conductivity piecing together zones of continuity based upon these geophysical attributes. These geophysical attributes will then be coupled with the accurately located historical drilling dataset, enhancing the 3D model and further delineating areas of geological continuity as needed for the creation of a maiden resource estimate for the West Zone, along with projections to depth (up to 400m) of any rendered zones of geophysical / geological interest.About BWR Exploration Inc.BWR Exploration Inc. (TSXV: BWR) is advancing its portfolio of base and precious metals rich deposits located in established Canadian mining jurisdictions. The portfolio is highlighted by the Little Stull Lake Project. Additionally, BWR has projects in Ontario (Shunsby Base metal project) located in the Porcupine Mining District, and in Quebec at its Vendôme Sud Project located in the Val d’Or Mining District of NW Quebec. Management of BWR includes an accomplished group of exploration/mining specialists with many decades of operational experience in the junior resource sector There are currently 89,502,461 shares issued in BWR ExplorationNeither the Toronto 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.For information about BWR Exploration Inc. please visit our website: http://www.bwrexploration.comor call/email:Neil Novak, P.Geo., President, CEO & Director,
BWR Exploration Inc.
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[email protected] For additional information regarding BWR please contact:Carl Desjardins, Paradox Investor Services Inc.