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
Neither 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