Power Ore Shareholder Update TORONTO
Power Ore Shareholder Update
TORONTO
, Sept. 26, 2018 /CNW/ - Power Ore ("Power Ore" or the "Company") (TSX.V: PORE) is
pleased to present its shareholder update.
"From a shareholders' perspective, our share price performance is most important. Closing price on
September 24, 2018
was
$0.13
. This price and resulting market capitalization is based on thin
trading, although we expect trading volumes to increase as we continue to develop the Power Ore
portfolio vis-à-vis accretive acquisitions and further work on the Mann cobalt-silver mine. I encourage
our sharehodlers to reach out to me directly for a personal update and more context on our
activities," said
Stephen Stewart
, Power Ore CEO. He continued, "Management is marginally
content with the share performance, and we remain very bullish with respect to our upcoming plans
for the company and we believe the fundamentals are in place for a strong market going forward.
We strive to be an active management team focused on delivering value on a per share basis, with a
view that a soft market yields opportunities for accretive acquisitions. As our management team and
board of directors are significant shareholders in the company, we think and act like owners when
making decisions on behalf of all shareholders."
Since
June 2018
, Power Ore has completed significant work on the Mann cobalt-silver mine.
Below is a summary of the Company's recent activity and plans going forward, along with links to
provide further detail on each milestone.
Activity on Mann Mine – Completed Work
1
.
Mann Mine Presentation
– This presentation including plans & sections, and our recently
released drill program to extend the high grade cobalt and silver mineralization on Zone D which
is intersected by the Mann's 210' ramp.
2
.
High Resolution Airborne Photos
- These airborne images form a photo-mosaic that covers
the area surrounding the historic Mann Mine. The main purpose of this high resolution imaging
was to locate the Mann's Mine's multiple stockpiles so that our technical team can sample the
surface mineralisation for high-grade silver and cobalt, and to ultimately assist with field work
that was completed in September 2018. Moreover, with the discovery of the location of Zone D
to the south of the stripped outcrop, we will prospect the area in more detail.
3
.
Mann Mine 3D Model 'Fly
by Video'
- This video represents the culmination of our data
compilation exercise. Upon acquisition of Mann, our team spent considerable efforts recompiling
and validating all of the existing data which was in numerous formats and from over a period of
several decades. This video is designed to visually depict the mineralized zones, the existing drill
holes and mining infrastructure including shafts and ramp for us to effectively design our future
exploration and drill programs.
Activity on Mann Mine – Soon to be Announced Work
1
.
Sampling of Stockpiles
– The sampling program is now complete, with samples having been
submitted to the lab for assaying. Results are expected in the near term. The sampling program
is aimed at identifying and evaluating the cobalt metal content in the various surface stockpiles
and dumps which exist from the Mann Mine's previous silver-focused production.
2
.
Airborne Magnetic Survey
– This high resolution survey has now been completed, and its data
is being processed. The results will be announced in the coming days upon completion of data
processing and interpretation. The purpose of this magnetic survey is to further delineate the
geology and structural controls of the various zones on the Mann Mine property.
Future Acquisitions
From managements perspective, the most interesting value opportunity for Power Ore is completing
and announcing an advanced stage, accretive acquisition. Shareholders can expect this to occur in
the near term, and the acquisition to be within the 'Electrification Metals' sector, which we define as
copper, nickel and cobalt.
QP Statement
The technical information contained in this news release has been reviewed and approved by
Charles Beaudry
, P.Geo, Director and Vice President Exploration for PowerOre Inc., who is a
Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral
Projects."
For additional information on Power Ore, please see our
News Release
and
Video
section of our
website.
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/September2018/26/c1896.html
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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 07:43e 26-SEP-18