Power Ore Intersects Additional Wide Disseminated Zones at Surface including 1.08% CuEq over 23.8 Metres & 0.32% CuEq over 130 Metres
Power Ore Intersects Additional Wide
Disseminated Zones at Surface including 1.08%
CuEq over 23.8 Metres & 0.32% CuEq over 130
Metres
TORONTO
,
June 25, 2019
/CNW/ - PowerOre Inc. ("Power Ore" or the "Company") (TSX.V: PORE)
is pleased to announce results from the second batch of assays from its spring 2019 drill program at
the Opemiska Copper Mine Complex in the
Chibougamau
District of
Quebec
. The second batch of
results encompasses drill holes 4 through 7.
Notable intersections include:
1.08% copper equivalent over 23.8 metres
starting at 7.2 metres down hole in hole OPM-19-
04 (Twinned Hole of Historical Falconbridge Hole S87)
0.32% copper equivalent over 130.6 metres
starting at 9.0 metres down hole including 1.194%
copper equivalent over 7.9 metres from 14.2 metres AND 0.78% copper equivalent over 4.0
metres from 106.0 metres in hole OPM-19-07 (Twinned Hole of Historical Falconbridge Hole
S86)
0.90% copper equivalent over 12.6 metres
starting at 2.0 metres down hole AND 1.76%
copper equivalent over 5.5 metres downhole starting at 51.0 metres in hole OPM-19-06
*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.
Power Ore completed 23 diamond drill holes in this 3,364 metre drill campaign and will report the
results for the remaining 16 holes as it receives them.
Click here for Map of Drill Hole Locations
"We continue to receive promising results with this second batch showing widely mineralized copper
zones near surface. Mineralization in holes 4 and 6 are once again, high grade near surface holes that
clearly shows the open pit potential at Opemiska. Hole 7 is encouraging as this is an exceptionally
wide mineralized zone spanning 130 metres of 0.3% copper, and shows the potential remaining in the
crown pillar at Vein #3. Most importantly is that we are seeing mineralization very close to the
surface, which continues to be in line with our objective of reinterpreting the Opemiska Copper
Complex as an open pit mine," said
Stephen Stewart
, Power Ore's CEO.
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-19-01
0.74
0.39
0.29
4.23
0.01
0.12
23.6
51.0
74.6
INCLUDING
1.66
0.79
0.78
8.69
0.01
0.37
7.1
51.0
58.1
OPM-19-02
1.44
0.75
0.64
5.08
0.01
0.04
57.6
49.4
107.0
INCLUDING
2.30
1.81
0.22
11.57
0.01
0.07
11.9
49.4
61.3
AND
6.11
0.75
0.64
16.63
0.02
0.04
8.0
99.0
107.0
OPM-19-03
0.24
0.15
0.06
3.20
0.001
0.02
79.0
33.0
112.0
INCUDING
0.53
0.35
0.14
6.10
0.002
0.04
32.0
56.0
88.0
OPM-10-04
1.08
0.52
0.61
5.33
0.004
0.04
23.8
7.2
31.0
AND
1.43
1.20
0.17
5.13
0.01
0.05
5.4
186.6
192.0
OPM-19-05
1.04
0.40
0.69
4.44
0.006
0.008
5.5
93.0
98.5
OPM-19-06
0.90
0.06
0.94
5.21
0.002
0.14
12.6
2.0
14.6
AND
1.76
1.30
0.49
5.41
0.01
0.03
5.5
51.0
56.5
AND
1.11
0.99
0.07
4.12
0.01
0.02
12.0
200.0
212.0
OPM-19-07
0.32
0.17
0.16
0.93
0.002
0.003
130.6
9.0
139.6
INCLUDING
1.19
0.84
0.32
6.74
0.01
0.01
7.9
14.2
22.1
AND
0.78
0.58
0.21
1.61
0.005
0.004
4.0
106.0
110.0
*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. Note we have adjusted the gold price to $1,400 from $1,325 previously, to reflect recent Gold price
activity.
Hole OPM-19-04
Hole 04, which is a twin of old mine hole S87, was collared immediately north of the #2 Vein and
intersected 23.8 metres of mineralized rock starting at 7.2 metres. This interval returned an average
grade of 1.08% CuEq including the #2 Vein. Towards the bottom of the hole another mineralized
interval returned 5.4 metres grading 1.43% CuEq starting at 186.6 metres and the hole stopped in a
stope of the #3 Vein at 193.7 metres.
Hole OPM-19-05
Hole 05, a twin of historical hole S856, was drilled just south of the #2 Vein and drilled a similar
sequence as hole 03 as well as a 5.5 metres interval grading 1.04% CuEq at the bottom where the
hole entered a stope at 98.5 metres and was stopped.
Hole OPM-19-06
Hole 06 was collared between the #1 and #2 Veins and was targeted on the disseminated
mineralization between these two veins and to the south of the #2 Vein at depth. The hole intersected
two mineralized veins at 51.0 and 200.0 metres. The upper zone returned 1.76% CuEq over 5.5
metres and the bottom zone returned 1.11% CuEq over 12.0 metres near the bottom of the hole.
Hole OPM-19-07
Hole 07, a twin of historical hole S86, was collared just north of the #3 Vein and intersected a very
long intersection of low grade mineralization. Starting at 9.0 metres the hole returned an average of
0.32% CuEq over 130.6 metres. This interval includes two more significant intersections of 7.9
metres of 1.19% CuEq from 14.2 metres and 4.0 metres of 0.78% CuEq from 106.0 metres.
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/June2019/25/c2325.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 07:00e 25-JUN-19