TORONTO, July 22, 2019 /CNW/ - PowerOre Inc. ("Power Ore"
or the "Company") (TSX.V: PORE) is pleased to announce results
from drill holes 10 - 14 from its spring 2019 drill program at the
Opemiska Copper Mine Complex in the Chibougamau District of Quebec.
Notable intersections include:
- 162.0 metres at 1.01% copper equivalent starting at 3.0
metres down hole in OPM-19-14, including:
-
- 2.21% copper equivalent over 62.7 metres
- 137.9 metres at 0.35% copper equivalent starting
at 12.1 metres down hole in OPM-19-13, including:
-
- 1.19% copper equivalent over 34.0 metres
- 14.8 metres at 0.73% copper equivalent
starting at 19.2 metres down hole in OPM-19-11
*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.
|
"We are happy to report our best intersection to date with 162
metres of 1.0% copper equivalent in hole 14 with the mineralized
zone beginning a few metres down hole. This is significant to
the confirmation of our interpretation that solutions ponded and
were deposited in a disseminated style at the contact between the
Gabbro/Pyroxenite sill and underlying Rhyolite. This drill program
continues to show extremely wide mineralized intersections near
surface. Opemiska's very high-grade veins are already understood,
defined and remain intact with the pillars. However this drill
program was specifically designed to give us information on
mineralization outside these veins which is critical in our
reinterpretation of Opemiska as an open pitable deposit," said
Stephen Stewart, Power Ore's
CEO.
Click here for Map of Drill Hole
Locations
Power Ore completed 23 diamond drill holes in this 3,364 metre
drill campaign and will report the results for the remaining 9
holes as the Company receives them.
Summary Mineralized Intersections (Holes 10 – 14) From
Opemiska Spring 2019 Drill Program
Hole
ID
|
Grade
|
Interval
(m)
|
From
(m)
|
To
(m)
|
Copper Eq
(%)
|
Copper
(%)
|
Gold
(gpt)
|
Silver
(gpt)
|
Cobalt
(%)
|
Zinc
(%)
|
OPM-19-14
|
1.01
|
0.46
|
0.20
|
3.68
|
0.003
|
0.79
|
162.0
|
3.0
|
165.0
|
INCLUDING
|
2.21
|
0.91
|
0.42
|
6.52
|
0.005
|
2.00
|
62.7
|
36.3
|
99.0
|
|
|
|
|
|
|
|
|
|
|
OPM-19-13
|
0.35
|
0.26
|
0.08
|
1.14
|
0.004
|
0.008
|
137.9
|
12.1
|
150.0
|
INCLUDING
|
1.19
|
0.91
|
0.28
|
3.47
|
0.006
|
0.02
|
34.0
|
71.0
|
105.0
|
|
|
|
|
|
|
|
|
|
|
OPM-19-12
|
0.43
|
0.25
|
0.17
|
2.11
|
0.005
|
0.01
|
14.0
|
12.0
|
26.0
|
|
|
|
|
|
|
|
|
|
|
OPM-19-11
|
0.73
|
0.48
|
0.25
|
4.49
|
0.003
|
0.02
|
14.8
|
19.2
|
34.0
|
|
|
|
|
|
|
|
|
|
|
OPM-19-10
|
No Significant
Intersection
|
*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.
|
Hole OPM-19-14
Hole 14 was collared on the same set up
as hole 01 but was drilled to the southwest to test along the edge
of the Glory Hole and ended in rhyolite at 195.7 metres. The
hole is well mineralized with current results to 165.0 metres and
returned 1.01 % CuEq over this complete length starting at 3.0
metres and includes a 2.21 % CuEq interval of 62.7 metres starting
at 36.3 and notably intersecting Vein #2. Assays are pending
from 165.0 to the end of the hole and includes a mineralized
intersection in the footwall rhyolite.
Hole OPM-19-13
Hole 13 was drilled to the south of the
Glory Hole on the same setup as Hole 12 but was oriented towards
the northwest to intersect the rhyolite contact near the Glory
Hole. The hole ended in rhyolite at 195.7 metres. The hole
intersected a wide interval of disseminated mineralization grading
0.35% CuEq over 137.9 metres starting at 12.1 metres and ending at
150.0 metres and this included a higher grade section of 1.19% CuEq
over 34.0 metres starting at 71.0 metres and that included Vein
#1. Below 150.0 metres the hole is visually less mineralized
and assays are pending.
Hole OPM-19-12
This hole was drilled on the same setup
as Hole 11 but was drilled to the southwest towards the contact of
the rhyolite. The hole intersected 0.43% CuEq over 14.0
metres starting as 12.0 metres. Total hole length is 122.6
metres and the hole stopped in rhyolite. It is apparent that
the contact is less mineralized in this area.
Hole OPM-19-11
Hole 11, drilled to the north, entered
the Glory Hole stope (Vein #3) at only 37.9 metres and intersected
0.73% CuEq over 14.8 metres starting at 19.2 metres. This was
the first of three holes on the same setup immediately south of the
Glory Hole to test for mineralization near the contact with the
footwall rhyolite.
Hole OPM-19-10
Hole 10 was terminated at 51.1 metres
when it entered a stope of vein 34. Only minor mineralization
was encountered in the hole.
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 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.
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