Power Ore Begins Trading Today on the TSX Venture Exchange under the symbol 'PORE'
Power Ore Begins Trading Today on the TSX Venture
Exchange under the symbol 'PORE'
TORONTO
,
June 5, 2018
/CNW/ - Power Ore ("Power Ore" or the "Company") (TSX.V: PORE) is pleased to announce that its shares will
begin trading today at the open of the TSX Venture Exchange.
Power Ore is a brand-new company and listing, which upon listing will have
$1 million
in cash, 29,973,333 common shares outstanding and 100%
ownership of two advanced stage assets - the cobalt and silver Mann Mine and the MacMurchy nickel property in in the
Cobalt
-
Gowganda
District of
Ontario
. Power Ore's initial stage strategy is to establish a large base of cobalt and nickel advanced stage assets within
Canada
.
"The initial value proposition for the company is that our flagship asset, the Mann Mine in the
Cobalt
-
Gowganda
district of
Northern Ontario
, holds
up extremely well relative to our comparable companies' assets in the region. In fact, the Mann can be considered one of the most advanced stage
assets in the district and one of the few that has actual and recent diamond drilling that demonstrates high grade mineralization for both cobalt and
silver," said
Stephen Stewart
, Power Ore's CEO. He continues, "We are starting with a strong asset base, cash in the bank and a low share count
which is tightly held by a group of very strong shareholders. We will then implement an active acquisition to complete a series of cobalt and nickel
acquisitions that will make us a relevant player in the battery metals space in
Canada
."
About Power Ore
Power Ore is positioning itself to be the owner of a diversified portfolio of battery metal assets in
Canada
, and is focused on two things:
1
.
Assets whose metals are used in the manufacture of Batteries for Electrical Vehicles specifically,
Cobalt
and Nickel; and
2
.
Advanced stage assets in
Canada
where discoveries have been made, mineralization is well understood and infrastructure is in
place.
Power Ore's first flagship asset is the Mann Silver-Cobalt Mine in the
Cobalt
–
Gowganda
district of
Ontario
.
High grade cobalt & silver intersections at Mann Mine property
Hole Number
From (metres)
To (metres)
Interval (metres)
Cobalt Grade (%)
MN11-01
111.5
117.3
5.8
0.34%
including
112.9
114.3
1.4
1.12%
MN11-03
11.0
11.4
0.4
0.20%
Hole Number
From (metres)
To (metres)
Interval (metres)
Silver
Grade
(g/t)
MN11-01
29.0
58.3
29.3
131
including
37.0
38.0
1.0
2,320
including
52.2
52.7
0.5
1,210
MN11-02
27.8
34.3
6.5
18
and
95.0
144.5
49.5
14
including
47.8
48.4
0.6
141
MN11-03
21.3
50.0
28.7
181
including
35.9
41.0
5.1
979
including
39.8
40.5
0.7
5,130
MN12-06
16.6
38.3
21.7
59
including
23.3
24.7
1.4
695
Note: Refer to Power Ore's NI43-101 Technical Report on the Mann Property dated 17 of April, 2018 available on Sedar and on Power Ore's
website.
For reference these holes are located as follows:
HoleID
Datum
UTMEast
UTMNorth
Elevation
Length
Dip
Azimuth
MN11-01
NAD83ZN17
513,824.9
5274074.1
395.0
227.00
-45
185
MN11-02
NAD83ZN17
513832.5
5274077.1
395.0
194.00
-45
174
MN11-03
NAD83ZN17
513832.5
5274077.1
395.0
209.00
-45
179
MN12-06
NAD83ZN17
513879.0
5273953.3
386.2
122.0
-45
270
The mineralization on the property occurs as sub-vertical veins and the true width of the intervals is approximately 75% of the quoted values.
QP Statement
The technical information contained in this news release has been reviewed and approved by
Charles Beaudry
, P.Geo, Director and Vice
President Exploration for Power Ore Inc., who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for
Mineral Projects."
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/June2018/05/c3213.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 07:12e 05-JUN-18