Power Ore Intersects 2.5% Copper Equivalent Over 74 Metres
Power Ore Intersects 2.5% Copper Equivalent
Over 74 Metres
TORONTO
,
Aug. 12, 2019
/CNW/ - PowerOre Inc. ("Power Ore" or the "Company") (TSX.V: PORE)
is pleased to announce the latest results from its spring 2019 drill program at the Opemiska Copper
Mine Complex in the
Chibougamau
District of
Quebec
, including hole OPM-19-18 which intersected
2.54% copper equivalent over 74 metres beginning
at 28 metres downhole. Included in this
intersection is 4.15% copper equivalent over 25 metres and 5.4% copper equivalent over 14.5
metres.
Click here for Map of Drill Hole Locations.
Full details with a breakdown of Copper Equivalent inputs
and formula is listed in the table.
Hole ID
Grade
Interval
(m)
From
(m)
To
(m)
Copper
Eq* (%)
Copper
(%)
Gold
(gpt)
Silver
(gpt)
Cobalt
(%)
Zinc
(%)
OPM-19-18
2.54
2.13
0.41
7.61
0.006
0.013
74.0
28.0
102.0
Including
4.15
3.25
0.96
11.3
0.01
0.02
25.0
38.0
63.0
and
5.40
4.95
0.33
18.0
0.008
0.024
14.5
73.0
87.5
OPM-19-16
0.56
0.35
0.21
2.48
0.004
0.009
97.0
55.0
152.0
Including
0.72
0.41
0.34
3.05
0.004
0.011
50.0
55.00
105.0
and
1.39
1.13
0.24
6.48
0.003
0.008
10.0
141.0
151.0
OPM-19-15
0.39
0.28
0.10
0.78
0.004
0.007
16.0
19.0
35.0
OPM-19-17
1.13
0.81
0.34
3.20
0.004
0.008
2.00
18.00
20.00
*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. Note we have adjusted the gold price to $1,400 from $1,325 previously, to reflect recent Gold price
activity.
Hole 18
yielded the richest intersection of Power Ore's Spring 2019 drill program and yielded 2.54%
CuEq over 74 metres including 4.15% CuEq over 25 metres and 5.40% over 14.5 metres. Hole 18
was drilled to 104 metres, and while intersecting Vein #20 towards the end of the hole, was
mineralized almost throughout, starting from 28 metres. and was drilled towards Vein #20 located
north of Vein #3 and the Glory Hole.
Hole 16
was drilled to 152 metres in between Vein #3 and the Glory Hole and Vein #2. The hole was
drilled towards the hinge of the anticline of the rhyolite-pyroxenite/gabbro contact and yielded 0.56%
CuEq over 97 metres, including 0.72% CuEq over 50 metres, and 1.39% CuEq over 10 metres.
Hole 15
is a 38 metre hole which was drilled towards Vein #1 and ended in a stope. Drilling
intersected 0.39% CuEq over 16 metres.
Hole 17
was drilled 80 metres west of Hole 18 towards the Rhyolite-Pyroxenite/Gabbro contact to a
depth of 95.3 metres. A single sample composite yielded 1.13% CuEq over 2 metres starting at 18
metres.
The above holes are the fifth batch of results encompassing drill holes 15 to 18 of a 23 drill hole,
3,364 metre drill campaign. Power Ore will report subsequent results as it receives them.
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 1: 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
CUMULATIVE_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/August2019/12/c4030.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 12-AUG-19