Power Ore Announces Validation and Results of Unreleased High Grade Drill Intersections at Opemiska
Power Ore Announces Validation and Results
of Unreleased High Grade Drill Intersections at
Opemiska
TORONTO
,
Jan. 17, 2019
/CNW/ - PowerOre Inc. ("Power Ore" or the "Company") (TSX.V: PORE)
is pleased to announce that it has successfully compiled and validated results from 85 holes drilled by
Explorateur Innovateurs de Québec Inc. ("
ExIn"
) on the Opemiska Property ("Opemiska") for a total
of 4,075 metres from previous drill programs conducted between 2006 and 2016.
A total of four phases of drilling were undertaken on Opemiska each of which had specific objectives
that were for the most part realized. In this news release Power Ore is only releasing the first phase
of diamond drilling completed by ExIn that consisted of 52 near surface holes in five clusters. The
drilling was targeted to intersect the crown pillars at shallow depth of several veins that were mined
from underground. As ExIn is a private company the drill holes described below have never been in
the public domain.
Notable intersections of the 2010 drilling include:
9.0% copper equivalent(*), with 8.2% copper and 1.12 gpt gold over 7.5 metres in hole OP-
2010-19
2.5% copper equivalent, with 0.66% copper and 2.59 gpt gold over 24.0 metres in hole OP-
2010-12
1.0% copper equivalent, with 0.70% copper, 0.42 gpt gold and 5.1 gpt silver over 78.0 metres in
hole OP-2010-03
Notable intersections of the 2006 drilling include:
6.2% copper equivalent, with 4.5% copper, 2.03 gpt gold and 24.6 gpt silver over 10.4 metres in
hole OP-151
4.8% copper equivalent, with 3.9% copper, 0.93 gpt gold and 27.8 gpt silver over 10.2 metres in
hole OP-138
4.3% copper equivalent, with 3.7% copper, 0.63 gpt gold and 18.8 gpt silver over 9.3 metres in
hole OP-140
8.3% copper equivalent, with 6.7% copper, 1.51 gpt gold and 64.3 gpt silver over 3.7 metres in
hole OP-152
*Copper Equivalent ("Cu Eq.") grade including gold and silver based on 100% recoveries is calculated using the following equation: Cu Eq. = [(Cu % / 20 / Cu price) + (Au grade x Au
price) + (Ag grade x Ag price)] / (20 x Cu price x 34.2857 g/t). We used Cu, Au and Ag price of US$2.65, US$1,274 and US$15.74, respectively.
"We are quite pleased to announce these results which is brand new information for the market. They
provide us with great context on the copper and gold mineralization at Opemiska and demonstrate
significant, high-grade copper at shallow depths and close to the surface. This is in line with our
assessment of the potential to re-interpret the historical underground mine into an open pit scenario.
This initial validating and releasing of these drill intersections is vital in understanding not only the
magnitude of data in our possession for the Opemiska that can be validated and used but also
provides a glimpse of what we can expect in terms of grades and continuity of mineralization,
including many high-grade copper intercepts over 10 metres in length," said
Stephen Stewart
, Power
Ore's CEO.
Table 1) Drill Hole Compilation Results for Phase One's 52 diamond drill holes
From (m)
To (m)
Interval (m)
Grade
Hole ID
Year
Copper Eq.
(%)
Copper
(%)
Gold
(g/t)
Silver
(g/t)
8.72
11.92
3.20
5.92
4.69
1.49
21.52
OP-113
2006
8.08
13.35
5.27
2.07
1.48
0.77
6.21
OP-114
2006
5.43
7.70
2.27
2.54
1.85
0.87
8.81
OP-115
2006
9.96
10.32
0.36
0.90
0.62
0.34
3.77
OP-116
2006
10.88
13.55
2.67
8.14
3.59
6.25
19.99
OP-117
2006
4.96
12.28
7.32
2.89
1.76
1.49
9.43
OP-118
2006
5.05
5.96
0.91
32.34
26.31
6.86
140.57
OP-119
2006
8.47
10.36
1.89
21.83
15.20
8.57
71.37
OP-120
2006
9.16
15.30
6.14
4.62
3.37
1.54
19.67
OP-121
2006
7.82
17.83
10.01
1.60
1.20
0.46
8.20
OP-124
2006
5.31
6.78
1.47
1.60
1.35
0.23
9.91
OP-125
2006
3.70
12.38
8.68
0.24
0.16
0.03
6.39
OP-126
2006
1.62
14.75
13.13
0.70
0.47
0.26
4.99
OP-127
2006
2.00
11.48
9.48
1.78
1.23
0.67
9.09
OP-128
2006
14.91
25.15
10.24
4.82
3.93
0.93
27.79
OP-138
2006
4.60
17.46
12.86
1.84
1.39
0.53
8.76
OP-139
2006
8.54
17.80
9.26
4.34
3.74
0.63
18.78
OP-140
2006
0.00
17.10
17.10
1.99
1.59
0.48
6.89
OP-141
2006
12.40
18.30
5.90
2.58
2.16
0.47
10.28
OP-142
2006
1.20
9.42
8.22
1.67
1.11
0.72
6.45
OP-143
2006
7.40
24.00
16.60
1.08
0.83
0.31
3.93
OP-144
2006
16.56
23.58
7.02
3.20
2.52
0.83
11.81
OP-146A
2006
10.86
15.60
4.74
0.81
0.48
0.43
2.57
OP-147
2006
4.03
18.01
13.98
1.92
1.52
0.46
8.47
OP-148
2006
1.75
8.68
6.93
2.07
1.48
0.73
8.50
OP-149
2006
3.64
5.63
1.99
4.28
0.00
6.10
0.00
OP-150
2006
13.21
14.78
1.57
2.81
2.41
0.41
13.37
OP-150
2006
4.51
14.90
10.39
6.15
4.51
2.03
24.64
OP-151
2006
15.25
18.90
3.65
8.34
6.72
1.51
64.28
OP-152
2006
13.88
14.62
0.74
6.50
5.97
0.10
52.80
OP-155
2006
18.00
23.33
5.33
4.49
4.16
0.05
35.13
OP-156
2006
16.87
20.14
3.27
5.59
5.09
0.10
49.37
OP-157
2006
18.15
21.56
3.41
3.47
2.92
0.15
51.17
OP-158
2006
13.57
16.63
3.06
1.18
1.16
0.02
0.99
OP-159
2006
22.85
24.00
1.15
0.99
0.84
0.14
6.03
OP-165
2006
10.00
18.50
8.50
0.66
0.54
0.11
3.75
OP-2010-01
2010
28.50
37.50
9.00
0.56
0.41
0.11
8.00
OP-2010-01
2010
4.50
16.50
12.00
1.41
0.70
0.94
5.99
OP-2010-02
2010
6.00
84.00
78.00
1.04
0.70
0.42
5.11
OP-2010-03
2010
29.50
30.00
0.50
4.25
3.90
0.41
7.54
OP-2010-04
2010
34.50
42.00
7.50
1.03
0.78
0.36
0.00
OP-2010-05
2010
16.00
33.01
17.01
1.30
0.67
0.89
0.00
OP-2010-06
2010
82.50
86.99
4.49
0.32
0.19
0.18
0.00
OP-2010-08
2010
64.50
66.00
1.50
2.74
2.41
0.41
5.14
OP-2010-09
2010
78.00
81.00
3.00
2.42
0.61
2.59
0.00
OP-2010-09
2010
28.50
65.99
37.49
0.68
0.53
0.22
0.08
OP-2010-11
2010
40.50
64.45
23.95
2.48
0.66
2.59
0.67
OP-2010-12
2010
61.50
101.99
40.49
1.42
0.77
0.93
0.03
OP-2010-13
2010
86.99
108.00
21.01
1.44
1.04
0.58
0.00
OP-2010-14
2010
18.00
99.00
81.00
0.72
0.55
0.24
0.00
OP-2010-15
2010
60.00
65.00
5.00
0.78
0.66
0.17
0.00
OP-2010-16
2010
78.00
85.50
7.50
0.52
0.43
0.13
0.00
OP-2010-18
2010
31.50
39.01
7.51
8.96
8.17
1.12
0.00
OP-2010-19
2010
21.00
50.99
29.99
0.53
0.31
0.30
0.41
OP-2010-20
2010
*Significant intersections with copper equivalent grade (%) x length greater than 15.0 percent- metres are bolded.
Link to Figure 1) Drill Hole Location Map of Phase One's Results
Detail on Opemiska's 2006 Drill Campaign and Results
The 2006 holes verified the grade and widths of original mine holes drilled from surface although the
holes cannot be considered true twinned holes for purposes of validation since original collars could
not be located in the field. Figure 1 shows all the hole collars color coded according to year of
drilling. Table 1 lists all of the results of Phase One's diamond drill hole compilation. The holes were
drilled in various directions and as such the true widths of mineralization are difficult to acertain but
probably range between 50 and 70% of core lengths.
The 2006 drilling confirmed that, except for the glory hole on the west end of Vein #3, the pillars are
still present and work is in progress to accurately map the bottom limit of the crown pillars from
historical mine vertical and longitudinal sections so as to be included in any possible future mineral
resources. The Targets reported in the Company's
12 December 2018
news release on the
Opemiska acquisition available on the company's website and at
www.sedar.ca
included a surface
mineralized potential estimated by RPA to contain between 16 and 33 million short tons (14.5 and 30
million tonnes), grading 1.0% to 1.4% copper, and 0.012 to 0.020 oz/ton gold (0.41 to 0.69 gpt gold)
for Springer and a further potential at Perry of between 0.5 and 1.4 million short tons (0.4 and 1.3
million tonnes) between 1.0 and 1.5% copper. Additionally, RPA delineated a potential underground
target at Perry of between 3 and 11 million short tons (2.7 and 10 million tonnes) grading between 1.5
and 2.5% copper. See the QP statement regarding Exploration Targets.
Detail on Opemiska's 2010 Drill Campaign and Results
The 2010 diamond drilling program was mainly focused on verifying the surface projection of known
mineralized zones to test for the presence of the crown pillars and to test four induced polarization
anomalies outlined by a 2010 survey.
This last intersection (see OP-2010-03 above) is from a hole drilled immediately south of the glory
hole and confirmed that the wall rock in the vicinity of the veins is quite mineralized. It is also worth
noting that the drilling on the induced polarization survey intersected mainly gold-bearing pyrite
enriched zones that were not really considered in the historical mine work.
Results from Compilation and Validation of Previous Drill Hole Data completed by
Falconbridge
Falconbridge's
historical project data available to the Company includes over 14,000 diamond drill
holes stretching more than 850,000 metres from surface and underground diamond drilling with over
350,000 assays from the old mine and over two thousand paper plans, sections and longitudinals
from the Springer and Perry mining operations as well as many operational reports and administrative
and technical memoranda.
"We are in the process of validating the digital versions of the results and a random sampling of the
assay results show very few typing errors in the dataset, said
Charles Beaudry
(P.Geo. and
géo), Director and V.P. Exploration for PowerOre Inc. and Qualified Person for this news release.
The digitization of the underground workings is in progress with emphasis on mapping in 3D the
accurate outline of all the stopes and access tunnels as well as the crown pillars of all the mined
veins. This work will be completed in a few weeks."
About Opemiska Copper Mine Complex
The Opemiska Copper Complex is located adjacent to the town of
Chapais, Quebec
within the
Chibougamau
region. Opemiska is also within the Abitibi Greenstone belt and within the boundaries of
the Province of
Quebec's
Plan Nord which promotes and funds infrastructure and development of
natural resource projects. The project consists of 11 mining claims and covers the past producing
Springer & Perry mines which were owned and operated by
Falconbridge
. The project has excellent
in place infrastructure including a powerstation and direct access to Highway 113 and the Canadian
National Railway.
Opemiska was mined by
Falconbridge
as a high-grade underground mining operation and was in
production for over 35 years prior to Ex-In acquiring the property in 1993.
Click here for the Opemiska Copper Mine Complex PowerPoint Presentation
Click Here to View a Map of the Opemiska Project
QP Statement and Note on Exploration Targets
The technical information contained in this news release has been reviewed and approved by
Charles
Beaudry
, P.Geo and géo., Director and Vice President Exploration for Power Ore, who is a Qualified
Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects." The
potential tonnage and grade of these Exploration Targets are conceptual in nature. There has been
insufficient exploration to define them as mineral resources and it is uncertain if further exploration will
result in the targets being delineated as mineral resources. Power Ore advises that no one should
consider these targets as mineral resources; however the Company's objective is to define mineral
resources initially and then to work towards engineering activities to define any economic viability of
the Opemiska Copper Project. The exploration targets defined on the old Springer and Perry mines
are based on thousands of holes that were drilled during the mining period of both mines, many of
which were drilled from underground and for which no core is left to resample or log and therefore
cannot easily be confirmed. With respect to the results from the ExIn drilling we have all the original
assay certificates and we have reviewed all the available QC results which included standards, blanks
and duplicates. However it should be noted that the results from 2006 only comprised analytical
duplicates. On the other hand all the pulps and rejects from all the ExIn drilling are available as well
as all the core and we plan on resampling the pulps with rigorous QAQC protocols in order to be able
to use these drill results in any future resource estimation.
For information and updates on Power Ore, please visit: www.powerore.com
And please follow us on Twitter @PowerOre
N
either 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. Certain information in this press release may contain forward-looking statements. This
information is based on current expectations that are subject to significant risks and uncertainties
that are difficult to predict. Actual results might differ materially from results suggested in any
forward-looking statements. Power Ore is a trade name of PowerOre Inc. PowerOre Inc. assumes
no obligation to update the forward-looking statements, or to update the reasons why actual results
could differ from those reflected in the forward looking-statements unless and until required by
securities laws applicable to PowerOre Inc. Additional information identifying risks and uncertainties
is contained in filings by PowerOre Inc. with Canadian securities regulators, which filings are
available under PowerOre Inc. profile at
www.sedar.com
.
SOURCE
Power Ore
View original content:
http://www.newswire.ca/en/releases/archive/January2019/17/c9127.html
%SEDAR: 00045293E
For further information:
To speak to the Company directly, please contact: Stephen Stewart, Chief
Executive Officer, Phone: 416.644.1571, Email: [email protected], www.powerore.com
CO: Power Ore
CNW 08:00e 17-JAN-19