Power Ore reports 81 metres grading 1.02% CuEq and 52 metres grading 1.85% CuEq at Opemiska
Power Ore reports 81 metres grading 1.02%
CuEq and 52 metres grading 1.85% CuEq at
Opemiska
TORONTO
,
Jan. 24, 2019
/CNW/ - PowerOre Inc. ("Power Ore" or the "Company") (TSX.V: PORE)
is pleased to announce additional lengthy and high grade intersections from the Opemiska Copper
Complex property ("Opemiska"). These previously unreleased drill holes include eight near surface
diamond drill holes totalling 1,245 metres.
Table 1) Phase Two Drill Hole Compilation Results
Interval
(m)
From
(m)
To
(m)
Grade
Hole ID
Year
Copper Eq.
(%)
Copper
(%)
Gold
(g/t)
Silver
(g/t)
81.0
3.0
84.0
1.02
0.86
0.19
2.98
OP-2015-01
2015
52.4
7.6
60.0
1.85
1.39
0.60
4.93
OP-2016-08
2016
21.6
78.0
99.6
2.49
1.58
1.23
6.17
OP-2016-01
2016
20.6
6.0
26.6
2.24
2.05
0.17
8.30
OP-2016-07
2016
9.8
66.0
75.8
1.41
0.35
1.43
6.83
OP-2016-03
2016
6.0
57.0
63.0
1.64
1.28
0.51
0.00
OP-2015-05
2015
4.0
5.0
9.0
6.72
5.07
2.04
25.00
OP-2016-05
2016
1.8
29.7
31.5
5.20
4.43
0.94
12.90
OP-2016-01
2016
*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.
"Opemiska continues to demonstate excellent high grade copper and gold mineralization right from
surface. Four of the seven drill holes show significant mineralization over twenty metres, one of which
showing 1.85% copper equivalent over 52 metres and another showing 1% copper over 81 metres.
This is all brand new information for the market and our sharheolders and we expect to release more
in the near term as we continue our work on the project." said
Stephen Stewart
, Power Ore's CEO.
Link to Figure 1) Drill Hole Location Map of Phase Two's Results
Detail on Opemiska's 2015 Drill Campaign and Results
The 2015 drill program consisted of four (4) holes and was aimed at twinning historical drill holes.
Only the first hole, OP-2015-01 is considered an actual twinned hole as it was set up less than 3.0
metres west of mine surface hole S26 and was drilled parallel to it. The hole was drilled into the
western extension of Vein #2 crown pillar and cut mineralization upon entering bedrock. Hole OP-
2015-01 was sampled over its entire length and results confirm the original data. Overall, the hole
returned an interval of 81.0 metres grading 1.02% copper equivalent and the assays spiked in the
vicinity of the higher values reported or estimated in hole S26.
Hole OP-2015-05 was drilled near the original hole S58 but since its collar was not found, OP-2015-
05 is not considered a twinned hole. The hole, which bottomed out at 111.0 metres, cut an interval of
6.0 metres grading 1.64% copper equivalent starting at 57.0 metres whereas in hole S58 significant
mineralization starts at 211.0 metres.
Detail on Opemiska's 2016 Drill Campaign and Results
A drilling program of nine (9) surface diamond drill holes, totalling 708 metres, was planned by ExIn
following numerous years of compilation work, limited surface detailed exploration (stripping, sampling
& diamond drilling), and geophysical surveying, including a recent experimental "TDEM" ground
survey. The first six holes were targeted on new interpretation by F. Gaucher (M.Sc. thesis,
Laurentian University
) of Induced Polarization survey results and all these holes were collared near old
mineralized trenches. Three of these holes – OP-2016-01, OP-2016-03 and OP-2016-05 –
intersected significant mineralization shown in Table 1 and Figure 1. The results confirmed that in
some cases the veins produce significant chargeability anomalies accompanied by a clear drop in
resistivity values.
The Hole OP-2016-07 was drilled on Vein #2 but was collared right on the vein and entered bedrock
in mineralization and then cut 20.6 metres grading 2.24% copper equivalent (see Table 1). The drill
was then backed up and hole OP-2016-08 was drilled beneath and intersected 52.4 metres grading
1.85% copper equivalent (Table 1) again showing that a wide mineralized zone occurs around the
mined veins.
Results from Compilation and Validation of Previous Drill Hole Data completed by
Falconbridge
Falconbridge's
historical project data available to the Company includes over over 14,500 diamond
drill holes consisting of more than 850,000 metres from surface and underground diamond drilling with
over 350,000 assays from the old mine and over two thousand paper plans, sections and longitudinals
from the Springer and Perry mining operations as well as many operational reports and administrative
and technical memoranda.
"We are in the process of validating the digital versions of results and after confirming that the drill
hole coordinates and the assays are identical to the logs, we will complete the digitization of all the
underground workings in order to generate accurate wireframes of the stopes to subtract the mined
out volumes from the block model prior to calculating a new block model. This in-house work will be
completed in a few weeks and will allow us to confirm our view of the economic potential of the
project," added
Charles Beaudry
, VP Exploration.
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.
Click here for the Opemiska Copper Mine Complex PowerPoint Presentation
Click Here to View a Map of the Opemiska Project
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
To speak to the Company directly, please contact:
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/January2019/24/c1231.html
%SEDAR: 00045293E
For further information:
Stephen Stewart, Chief Executive Officer, Phone: 416.644.1571, Email:
[email protected], www.powerore.com
CO: Power Ore
CNW 08:00e 24-JAN-19