Power Ore Drills Four 100+ Metre Intersections Including 0.65% CuEq over 133.9 Metres & 0.57% CuEq over 102.1 Metres
Power Ore Drills Four 100+ Metre Intersections
Including 0.65% CuEq over 133.9 Metres &
0.57% CuEq over 102.1 Metres
TORONTO
,
Sept. 4, 2019
/CNW/ - PowerOre Inc. ("Power Ore" or the "Company") (TSX.V: PORE)
is pleased to announce results from its final batch of assays from its recent drill program at the
Opemiska Copper Mine Complex in the
Chibougamau
District of
Quebec
.
The four 100+ Metre intersections include:
133.9 metres of 0.65% copper equivalent
*
starting 16 metres down hole in OPM-19-19
102.1 metres of 0.57% copper equivalent
*
starting 15 metres down hole in OPM-19-20
100 metres of 0.36% copper equivalent
*
starting 7 metres down hole in hole OPM-19-21
114 metres of 0.48% copper equivalent
*
starting 36 metres down hole in hole OPM-19-22
*Copper Equivalent ("Cu Eq.") grade including copper, gold, silver, cobalt and zinc based on 100%
recoveries is calculated using the following equation: Cu Eq. = [(Cu % x 20 x Cu price) + (Au grade /
34.2857 x Au price) + (Ag grade / 34.2857 x Ag price) + (Co % x 20 x Co price) + (Zn % x 20 x Zn
price)] / (20 x Cu price). We used Cu, Au, Ag, Co and Zn price of
US$2.65
,
US$1,400
and
US$14.75
,
US$15.00
and
US$1.15
respectively.
"These final four holes, each of which is mineralized for over 100 metres in length and above our cut
off grade, continue to demonstrate shallow and disseminated minerealization on the Springer Mine at
the Opemiska Copper Complex. Not only has the drill program confirmed our thesis about
disseminated mineralization by delivering 12 holes consisting of +100-metre intersections with copper
and gold mineralization, but has also produced quite a few headline intersections which exceeded our
expectations. Additionally the drill program discovered new zones of mineralization, such as within the
rhyolite, which have the potential to expand the mineralized envelope. Shareholders can expect a full
summary of the program, including plans, sections and proposed steps moving forward in the near
term, said
Stephen Stewart
, Power Ore's CEO.
Click here for Map of Drill Hole Locations
Table
1
: Summary of Significant Mineralized Intersections on Opemiska Project.
Hole ID
Grade
Interval (m)
From (m)
To (m)
Copper Eq (%)
Copper (%)
Gold (gpt)
Silver (gpt)
Cobalt (%)
Zinc (%)
OPM-19-19
0.65
0.53
0.11
1.82
0.003
0.008
133.9
16.1
150.0
INCLUDING°
0.59
0.47
0.11
1.34
0.003
0.005
13.2
16.1
29.3
AND°
4.65
4.10
0.51
11.15
0.008
0.018
7.9
81.1
89.0
AND°
0.52
0.37
0.16
1.46
0.004
0.005
19.0
98.6
117.6
AND°
1.82
1.51
0.27
7.01
0.006
0.017
12.3
137.7
150.0
OPM-19-20
0.57
0.41
0.15
2.02
0.003
0.006
102.1
15.0
117.1
INCLUDING°
1.55
1.27
0.24
8.06
0.004
0.011
7.0
18.0
25.0
AND°
1.62
1.07
0.61
5.07
0.006
0.011
14.8
61.5
76.3
AND°
0.97
0.77
0.19
2.87
0.005
0.010
21.1
96.0
117.1
OPM-19-21
0.36
0.17
0.20
1.57
0.003
0.009
100.0
7.0
107.0
INCLUDING°
0.50
0.37
0.10
2.34
0.003
0.008
17.0
7.0
24.0
AND°
1.10
0.27
1.00
3.76
0.003
0.011
15.3
34.0
49.3
OPM-19-22
0.48
0.34
0.14
1.13
0.003
0.004
114.0
36.0
150.0
INCLUDING°
1.52
1.11
0.47
2.79
0.005
0.007
26.0
76.0
102.0
OPM-19-23
0.48
0.39
0.07
2.00
0.004
0.006
22.0
187.0
209.0
*Copper Equivalent ("Cu Eq.") grade including copper, gold, silver, cobalt and zinc based on 100% recoveries is calculated using the following equation: Cu Eq. = [(Cu % x 20 x Cu
price) + (Au grade / 34.2857 x Au price) + (Ag grade / 34.2857 x Ag price) + (Co % x 20 x Co price) + (Zn % x 20 x Zn price)] / (20 x Cu price). We used Cu, Au, Ag, Co and Zn
price of US$2.65, US$1,400 and US$14.75, US$15.00 and US$1.19 respectively.
°Composite includes intervals no greater than 6.0m with results inferior to 0.30% Cu-Eq.
Hole OPM-19-19
Hole 19 was drilled towards the south just north of Vein #1 to a depth of 151.0 metres and
intersected 133.9 metres of 0.65% copper equivalent, including 0.59% copper equivalent over 13.2
metres from 16.1 metres down hole (Vein #1), 4.65% copper equivalent over 7.9 metres from 81.1
metres down hole (Vein #2), 0.52% copper equivalent over 19.0 metres from 98.6 metres down hole
and 1.82% copper equivalent over 12.3 metres at the end of the hole from 137.7 metres down hole
(western extension of Vein #34).
Hole OPM-19-20
Hole 20 was oriented northwest and was drilled near the edge of Vein #20 and intersected several
high grade zones as the hole moved in and out of the vein. The hole intersected 102.1 metres of
0.57% copper equivalent, including 1.55% copper equivalent over 7 metres from 18.0 metres down
hole and 1.62% copper equivalent over 14.8 metres from 61.5 metres down hole. The bottom of the
hole intersected 21.1 metres of 0.97% copper equivalent from 96.0 metres.
Hole OPM-19-21
Hole 21 was collared between the #2 and #3 Veins and was drilled to the south to a depth of 109.0
metres. Hole 21 intersected 100 metres of 0.36% copper equivalent from 7.0 metres down hole
including 0.50% copper equivalent over 17.0 metres from 7.0 metres down hole and 1.10% copper
equivalent over 15.3 metres from 34.0 metres down hole. No major veins are known in this area,
although the hole did intersect several narrow high grade veins.
Hole OPM-19-22
Hole 22 was oriented northwest and was drilled near Vein #23 and intersected a wide zone of
mineralization near a stope but did not enter it and was stopped after entering rhyolite. The hole
intersected 114.0 metres of 0.48% copper equivalent, including 1.52% copper equivalent over 26.0
metres from 76.0 metres down hole. The hole was
Hole OPM-19-23
Hole 23 was oriented northwest and drilled into the rhyolite-pyroxenite/gabbro contact to test for
mineralization outside of the known veins. The hole was drilled to 223.6 metres and was mostly
unmineralized, but intersected 0.48% copper equivalent over 22.0 metres at the bottom of the hole
(from 187.0 metres down hole). The hole is not well mineralized except near the contact with the
rhyolite confirming once again our interpretation of the favourable nature of the intrusive contact.
Orientation of Drilling and True Widths of Mineralization
Field based and drill hole evidence clearly indicate that several orientations of veins are present on
the Opemiska Property but that around the Springer Mine the veins are predominantly EW with a
steep dip to the north. South directed drill holes are intersecting those veins near perpendicular.
However in the disseminated mineralization we find veins with various core angles suggesting that
other directions may be important. As such, in the disseminated mineralization the true width of
mineralized intersections is estimated to be the same as the drill core width even though the
mineralization may have an overall envelope that is different.
QP Statement
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." For
the exploration undertaken by Power Ore all assay batches are accompanied by rigorous Quality
Assurance procedures that include insertion of standards and blanks and verification assays in a
secondary laboratory. Quality Control results, including the laboratory's own control samples, are
evaluated immediately on reception of batch results and corrections implemented immediately if
necessary. All drill collars are surveyed and positioned in UTM coordinates. Downhole deviations
surveys are done with a Reflex instrument at
30m
intervals. A systematic density measurement
program using two methods was implemented to measure density of all rock types. A specific
susceptibility measurement protocol was also implemented to better estimate the relative abundance
of magnetite in the variably magnetic rocks of the Ventures Sill.
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.
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
.
Table 2: Summary statistics of spring 2019 diamond drilling program on Opemiska Project. Note
that collars have not yet been surveyed.
HOLE_ID
UTEM_EAST
UTM_NORTH
AZIMUTH
DIP
DATE_STARTED
DATE_ENDED
OVERBURDEN
LENGTH_M
CUMMULATIVE_M
OPM-19-01
509620.0
5515006.0
180
-48
May 16/2019
May17/2019
1.3
139.1
139.1
OPM-19-02
509668.0
5515069.0
180
-50
May 17/2019
May 18/2019
2.0
107.5
246.6
OPM-19-03
509510.0
5514950.0
180
-60
May 18/2019
May 19/2019
2.6
115.4
362.0
OPM-19-04
509880.0
5514959.0
180
-47
May 19/2019
May 20/2019
3.0
193.7
555.7
OPM-19-05
509805.0
5514939.0
180
-46
May 20/2019
May 21/2019
2.5
98.5
654.2
OPM-19-06
509830.0
5515009.0
180
-50
May 21/ 2019
May 23/2019
2.5
226.5
880.7
OPM-19-07
509778.0
5514820.0
180
-48
May 23/ 2019
May 24/ 2019
2.3
139.6
1020.3
OPM-19-08
509957.0
5514963.0
180
-45
May 24/ 2019
May 25/2019
2.0
188.0
1208.3
OPM-19-09
510066.0
5514786.0
180
-65
May 24/ 2019
May 28 /2019
8.0
320.6
1528.9
OPM-19-10
509975.0
5514896.0
180
-49
May 28/ 2019
May 28/2019
3.0
51.1
1580.0
OPM-19-11
509592.0
5514808.0
360
-60
May 29/2019
May 29/2019
12.5
37.9
1617.9
OPM-19-12
509592.0
5514808.0
225
-45
May 29/2019
May 31/2019
11.5
122.6
1740.5
OPM-19-13
509592.0
5514808.0
300
-45
May 31/2019
June 01/ 2019
11.8
195.7
1936.2
OPM-19-14
509620.5
5515005.8
230
-45
June 01/2019
June 03/ 2016
2.7
173.0
2109.2
OPM-19-15
509620.5
5515005.8
315
-45
June 03/ 2019
June 03/ 2019
17.7
38.0
2147.2
OPM-19-16
509640.0
5514904.0
315
-45
June 04/ 2019
June 05/2019
2.5
160.5
2307.7
OPM-19-17
509668.0
5515068.8
315
-45
June 05/2019
June 05/2019
2.3
100.9
2408.6
OPM-19-18
509753.1
5515065.4
315
-45
June 06/2019
June 07/2019
2.8
146.9
2555.5
OPM-19-19
509753.0
5515040.0
180
-45
June 07/ 2019
June 08/2019
1.2
158.3
2713.8
OPM-19-20
509790.0
5515124.0
315
-45
June 08/2019
June 09/ 2019
6.7
149.0
2862.8
OPM-19-21
509671.0
5514936.0
180
-60
June 09/2019
June 10/2019
1.4
113.6
2976.4
OPM-19-22
509835.0
5515145.0
315
-45
June 10/2019
June 11/2019
1.7
150.0
3126.4
OPM-19-23
509974.0
5515286.0
315
-45
June 11/2019
June 13/2019
5.7
223.6
3363.9
SOURCE
Power Ore
View original content:
http://www.newswire.ca/en/releases/archive/September2019/04/c8434.html
%SEDAR: 00045293E
For further information:
To speak to the Company directly, please contact: Stephen Stewart, Chief
Executive Officer, Phone:
416.644.1571, Email:
CO: Power Ore
CNW 08:00e 04-SEP-19