TORONTO, Nov. 22, 2019 /CNW/ - PowerOre Inc. ("Power Ore"
or the "Company") (TSX.V: PORE) is pleased to present its 2020
development plan for the Opemiska Copper Mine Complex in
Chibougamau, Quebec. Following the
completion of the 23 hole, 3,364 metres program in 2019 on
Springer, which yielded promising results, along with the
compilation and 3D modelling of the Springer and Perry mines, Power
Ore has designed a drill program consisting of 15,770 metres over
78 diamond drill holes. Drilling on Springer will focus on
resource delineation while Perry will see twinned surface holes
along with exploration. Completion of this drill program is
expected to demonstrate preliminary economics for open pit and
underground components of Opemiska.
Une version française de ce communiqué est disponible à notre
adresse internet à www.powerore.com.
"With our preliminary drill program now complete and our
geological model consisting of both current and Falconbridge data, we are pleased to present
this program which includes exploration, infill and twin drilling
on both Springer and Perry. We expect this drill program to advance
Opemiska to project economics for both the surface and underground
mineralization components of Springer and Perry. Shareholders can
expect this work to be phased based on economic conditions, but our
team understands the importance of planning and communicating
objectives to shareholders," said Stephen
Stewart, Power Ore's CEO.
Springer Drill Plan
At Springer, drilling will focus on near surface mineralization
and will target crown pillars and surrounding disseminated
mineralization in order to establish a pit optimized mineral
resource estimate. The geometry of the veins are such that
the hanging wall of the veins and the crown pillars can be easily
drill tested from surface. Holes will be drilled mainly from
north to south to intersect most of the veins, which dip towards
the north, at the optimal angle. The average drill spacing is
expected to be between 50 and 75 metres. The Springer drill plan
calls for a 12,810 metres of drilling in 62 holes with an average
planned length of 207 metres.
See Figure 1 for surface plan of proposed
drilling on Springer
Perry Drill Plan
The geometry of the mineralization at Perry indicates that there
is a small near surface mineralized zone and a more substantial
underground target, which will be the focus of our work. Most
of the existing Perry holes were drilled from underground, which is
not currently accessible for twin drilling, and as such our efforts
will be on twinning ten historical surface holes and six additional
holes to confirm the distribution of copper mineralization in a few
deeper holes between the veins. The 2020 drill program calls
for a total of 2,960 metres of drilling in 16 holes which we
anticipate will be sufficient to validate the historical surface
and underground drilling.
See Figure 2 for surface plan of proposed
drilling on Perry
About the Perry and Springer Mines on the Opemiska Copper
Mine Complex
The Springer and Perry mines operated from 1953
to 1991 and produced nearly 23 million tonnes of ore at an average
grade of 2.4 percent copper and 0.3 grams gold per tonnes.
Both mines were underground operations that mined high grade
copper-gold ore with a cut-off grade of approximately 1.5% copper
and as a result, a considerable amount of material was left behind
under the prevailing economic conditions at the time. At mine
closure there was reported to be over 3.3 million tonnes of mine
reserves and resources left behind in and near the stopes.
The Opemiska Copper Complex is located in Quebec within the Chibougamau region. The project has excellent
in place infrastructure including a powerstation and direct access
to Highway 113 and the Canadian National Railway.
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.
For information and updates on Power Ore, please
visit: www.powerore.com
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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.
SOURCE Power Ore