"It's something we've tipped-toed into with Arsenal," Mowbray told The Birmingham Mail.
"At this moment we'll keep those conversations in-house. But it is something we've explored with Arsenal and we'll see what's decided in the longer term.
"He came on the scene and played with an innocence to his game. He gave everyone a lift and a spark, and looked very, very bright.
"He picked up an injury at Burnley mainly because of the game time he was getting. He'd never been asked to play Premier League football for 10 or so games on the bounce.
"Unsurprisingly he picked up an injury and he hasn't quite hit the levels he had since coming back from the injury.
"(His talent] is undoubtedly there and it is up to us rediscover that and give him the opportunity to rediscover that."