Power Ore Releases a Data Discovery with Positive Grade and Tonnage Implications on Opemiska Copper Project
Power Ore Releases a Data Discovery with Positive
Grade and Tonnage Implications on Opemiska Copper
Project
TORONTO
,
Feb. 4, 2019
/CNW/ - PowerOre Inc. ("Power Ore" or the "Company") (TSX.V: PORE) is pleased to
announce that its ongoing review and audit of the historical diamond drilling at the Opemiska Copper Complex
("Opemiska") shows the average length of core that was assayed by
Falconbridge
was often less than 30% of the
intersection with as little as a single sample interval assayed in some cases.
Power Ore believes that the result of this development has the following potential:
Previous grade calculations may have been underestimated; and
There is potential to categorize mineralization that was unassayed, and therefore thought to be uneconomic, into
a disseminated mineralization category once the Springer mineralized zone has been re-drilled.
"This development is important as Power Ore looks to delineate an open pit and convert as much rock as possible
into what may be minable material. The high-grade veins at Opemiska are clear, but this exercise further
demonstrates disseminated mineralization within the wall rock as well as in areas where step out drilling was
completed. As one example of this, the holes that we compared below show that
Falconbridge
was assaying very
small portions of their intersections and were only looking at the high-grade veins. Specifically,
Falconbridge's
Hole
S26 only had a single assay while its twinned Hole OP-2015-01, which returned 1.02% CuEq of 81 metres, shows a
strong correlation but also shows that mineralization throughout the entire intersection. This mineralization was likely
ignored by
Falconbridge
, who focused on mining ore which was often 5% copper. We are a data-driven group and
have been meticulously analyzing the abundance of data on Opemiska. This is an excellent example of uncovering
significant upside and new targets through data analysis," said
Stephen Stewart
, CEO of Power Ore.
Technical Analysis of Twinned Hole OP-2015-01 vs Hole S26
Hole OP-2015-01 was twinned with historical surface hole S26 that was drilled by the Falconbridge Copper when the
mine was operating.
Falconbridge's
hole S26 intersected the #2 vein in the crown pillar where a single 2-foot sample
(0.61 metres) returned 5.28% copper and 1.37 gpt gold. However, this is the only assayed interval in the hole;
elsewhere there are a few visual estimates of grade but no assays. The twinned hole OP-2015-01, drilled within 3.0
metres of the observed collar of hole S26, intersected the same lithologies and the same vein at approximately the
same depth. The hole OP-2015-01 was assayed in its entirety and returned an 81.0 metre interval assaying 1.02%
copper equivalent, with 0.86% copper, 0.19 gpt gold and 2.98 gpt silver over 81.0 metres. Figure 1 is a comparative
histogram of copper grade for the holes S26 and OP-2015-01. Figure 2 is a box plot illustrating that very small
percentages of the original drill holes were assayed. This was to be expected as the mine was focused on the high-
grade veins being mined from underground.
*Copper Equivalent ("Cu Eq.") grade including gold and silver based on 100% recoveries is calculated using the
following equation: Cu Eq. = [(Cu % / 20 / Cu price) + (Au grade x Au price) + (Ag grade x Ag price)] / (20 x Cu price
x 34.2857 g/t). We used Cu, Au and Ag price of
US$2.65
,
US$1,274
and
US$15.74
, respectively.
Link to Figure 1) Histogram of Copper Grade of Twinned Holes S26 and OP-2015-01
Link to Figure 2) Box and Wisker Plot of Percentage of Hole Sampled of Falconbridge Surface Holes by Period
Implication for Resource Modelling on the Historical Springer Mine
"The significance of this news release is to demonstrate that the Exploration Target estimated by RPA in its 2013
study outlining a range of tonnage and grade for the Springer Mine was constrained by the limited sampling done in
the surface drill holes. Complete sampling of holes would likely add significant upside to the grade and tonnages of
the block model. This comes as excellent news to our ongoing efforts to digitize all the stopes and underground
workings at Springer and Perry in order to more accurately reflect the tonnage and grade of the near surface material
that remains and could be mined from an open pit", said
Charles Beaudry P.Geo
géo., Director and Vice President
Exploration for Power Ore.
More details Available on Opemiska and Power Ore Technical Analysis of its Data:
Click here for the Opemiska Copper Mine Complex PowerPoint Presentation
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 power station 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.
QP Statement and Note on Exploration Targets
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." The potential tonnage and grade of these
Exploration Targets are conceptual in nature. There has been insufficient exploration to define them as mineral
resources and it is uncertain if further exploration will result in the targets being delineated as mineral resources.
Power Ore advises that no one should consider these targets as mineral resources; however, the Company's
objective is to define mineral resources initially and then to work towards engineering activities to define any economic
viability of the Opemiska Copper Project. The exploration targets defined on the old Springer and Perry mines are
based on thousands of holes that were drilled during the mining period of both mines, many of which were drilled from
underground and for which no core is left to resample or log and therefore cannot easily be confirmed. With respect
to the results from the ExIn drilling we have all the original assay certificates and we have reviewed all the available
QC results which included standards, blanks and duplicates. All the pulps and rejects from all the ExIn drilling are
available as well as all the core and we plan on resampling the pulps with rigorous QAQC protocols in order to be
able to use these drill results in any future resource estimation.
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/February2019/04/c2663.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 08:00e 04-FEB-19