Power Ore Intersects 162 Metres at 1.01% Copper Equivalent at Surface At Opemiska
Power Ore Intersects 162 Metres at 1.01%
Copper Equivalent at Surface At Opemiska
TORONTO
,
July 22, 2019
/CNW/ - PowerOre Inc. ("Power Ore" or the "Company") (TSX.V: PORE)
is pleased to announce results from drill holes 10 - 14 from its spring 2019 drill program at the
Opemiska Copper Mine Complex in the
Chibougamau
District of
Quebec
.
Notable intersections include:
162.0 metres at 1.01% copper equivalent starting at 3.0 metres down
hole
in OPM-19-14,
including:
2.21% copper equivalent over 62.7 metres
137.9 metres at 0.35% copper equivalent
starting at 12.1 metres down hole
in OPM-19-13,
including:
1.19% copper equivalent over 34.0 metres
14.8 metres
at
0.73% copper equivalent starting at 19.2 metres down hole
in OPM-19-11
*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.
"We are happy to report our best intersection to date with 162 metres of 1.0% copper equivalent in
hole 14 with the mineralized zone beginning a few metres down hole. This is significant to the
confirmation of our interpretation that solutions ponded and were deposited in a disseminated style at
the contact between the Gabbro/Pyroxenite sill and underlying Rhyolite. This drill program continues
to show extremely wide mineralized intersections near surface. Opemiska's very high-grade veins are
already understood, defined and remain intact with the pillars. However this drill program was
specifically designed to give us information on mineralization outside these veins which is critical in our
reinterpretation of Opemiska as an open pitable deposit," said
Stephen Stewart
, Power Ore's CEO.
Click here for Map of Drill Hole Locations
Power Ore completed 23 diamond drill holes in this 3,364 metre drill campaign and will report the
results for the remaining 9 holes as the Company receives them.
Summary Mineralized Intersections (Holes 10 – 14) From Opemiska Spring 2019 Drill Program
Hole ID
Grade
Interval
(m)
From
(m)
To (m)
Copper Eq
(%)
Copper
(%)
Gold
(gpt)
Silver
(gpt)
Cobalt (%)
Zinc (%)
OPM-19-14
1.01
0.46
0.20
3.68
0.003
0.79
162.0
3.0
165.0
INCLUDING
2.21
0.91
0.42
6.52
0.005
2.00
62.7
36.3
99.0
OPM-19-13
0.35
0.26
0.08
1.14
0.004
0.008
137.9
12.1
150.0
INCLUDING
1.19
0.91
0.28
3.47
0.006
0.02
34.0
71.0
105.0
OPM-19-12
0.43
0.25
0.17
2.11
0.005
0.01
14.0
12.0
26.0
OPM-19-11
0.73
0.48
0.25
4.49
0.003
0.02
14.8
19.2
34.0
OPM-19-10
No Significant Intersection
*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.
Hole OPM-19-14
Hole 14 was collared on the same set up as hole 01 but was drilled to the southwest to test along the
edge of the Glory Hole and ended in rhyolite at 195.7 metres. The hole is well mineralized with
current results to 165.0 metres and returned 1.01 % CuEq over this complete length starting at 3.0
metres and includes a 2.21 % CuEq interval of 62.7 metres starting at 36.3 and notably intersecting
Vein #2. Assays are pending from 165.0 to the end of the hole and includes a mineralized
intersection in the footwall rhyolite.
Hole OPM-19-13
Hole 13 was drilled to the south of the Glory Hole on the same setup as Hole 12 but was oriented
towards the northwest to intersect the rhyolite contact near the Glory Hole. The hole ended in rhyolite
at 195.7 metres. The hole intersected a wide interval of disseminated mineralization grading 0.35%
CuEq over 137.9 metres starting at 12.1 metres and ending at 150.0 metres and this included a
higher grade section of 1.19% CuEq over 34.0 metres starting at 71.0 metres and that included Vein
#1. Below 150.0 metres the hole is visually less mineralized and assays are pending.
Hole OPM-19-12
This hole was drilled on the same setup as Hole 11 but was drilled to the southwest towards the
contact of the rhyolite. The hole intersected 0.43% CuEq over 14.0 metres starting as 12.0 metres.
Total hole length is 122.6 metres and the hole stopped in rhyolite. It is apparent that the contact is
less mineralized in this area.
Hole OPM-19-11
Hole 11, drilled to the north, entered the Glory Hole stope (Vein #3) at only 37.9 metres and
intersected 0.73% CuEq over 14.8 metres starting at 19.2 metres. This was the first of three holes
on the same setup immediately south of the Glory Hole to test for mineralization near the contact with
the footwall rhyolite.
Hole OPM-19-10
Hole 10 was terminated at 51.1 metres when it entered a stope of vein 34. Only minor mineralization
was encountered in the hole.
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 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.
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/July2019/22/c2591.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]
CO: Power Ore
CNW 07:00e 22-JUL-19