TORONTO, Sept. 4, 2019 /CNW/ - PowerOre Inc. ("Power Ore"
or the "Company") (TSX.V: PORE) is pleased to announce results
from its final batch of assays from its recent drill program at the
Opemiska Copper Mine Complex in the Chibougamau District of Quebec.
The four 100+ Metre intersections include:
- 133.9 metres of 0.65% copper equivalent*
starting 16 metres down hole in OPM-19-19
- 102.1 metres of 0.57% copper equivalent*
starting 15 metres down hole in OPM-19-20
- 100 metres of 0.36% copper equivalent*
starting 7 metres down hole in hole OPM-19-21
- 114 metres of 0.48% copper equivalent*
starting 36 metres down hole in hole OPM-19-22
*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$1.15 respectively.
"These final four holes, each of which is mineralized for over
100 metres in length and above our cut off grade, continue to
demonstrate shallow and disseminated minerealization on the
Springer Mine at the Opemiska Copper Complex. Not only has the
drill program confirmed our thesis about disseminated
mineralization by delivering 12 holes consisting of +100-metre
intersections with copper and gold mineralization, but has also
produced quite a few headline intersections which exceeded our
expectations. Additionally the drill program discovered new zones
of mineralization, such as within the rhyolite, which have the
potential to expand the mineralized envelope. Shareholders can
expect a full summary of the program, including plans, sections and
proposed steps moving forward in the near term, said Stephen Stewart, Power Ore's CEO.
Click here for Map of Drill Hole Locations
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-19-19
|
0.65
|
0.53
|
0.11
|
1.82
|
0.003
|
0.008
|
133.9
|
16.1
|
150.0
|
INCLUDING°
|
0.59
|
0.47
|
0.11
|
1.34
|
0.003
|
0.005
|
13.2
|
16.1
|
29.3
|
AND°
|
4.65
|
4.10
|
0.51
|
11.15
|
0.008
|
0.018
|
7.9
|
81.1
|
89.0
|
AND°
|
0.52
|
0.37
|
0.16
|
1.46
|
0.004
|
0.005
|
19.0
|
98.6
|
117.6
|
AND°
|
1.82
|
1.51
|
0.27
|
7.01
|
0.006
|
0.017
|
12.3
|
137.7
|
150.0
|
|
|
|
|
|
|
|
|
|
|
OPM-19-20
|
0.57
|
0.41
|
0.15
|
2.02
|
0.003
|
0.006
|
102.1
|
15.0
|
117.1
|
INCLUDING°
|
1.55
|
1.27
|
0.24
|
8.06
|
0.004
|
0.011
|
7.0
|
18.0
|
25.0
|
AND°
|
1.62
|
1.07
|
0.61
|
5.07
|
0.006
|
0.011
|
14.8
|
61.5
|
76.3
|
AND°
|
0.97
|
0.77
|
0.19
|
2.87
|
0.005
|
0.010
|
21.1
|
96.0
|
117.1
|
|
|
|
|
|
|
|
|
|
|
OPM-19-21
|
0.36
|
0.17
|
0.20
|
1.57
|
0.003
|
0.009
|
100.0
|
7.0
|
107.0
|
INCLUDING°
|
0.50
|
0.37
|
0.10
|
2.34
|
0.003
|
0.008
|
17.0
|
7.0
|
24.0
|
AND°
|
1.10
|
0.27
|
1.00
|
3.76
|
0.003
|
0.011
|
15.3
|
34.0
|
49.3
|
|
|
|
|
|
|
|
|
|
|
OPM-19-22
|
0.48
|
0.34
|
0.14
|
1.13
|
0.003
|
0.004
|
114.0
|
36.0
|
150.0
|
INCLUDING°
|
1.52
|
1.11
|
0.47
|
2.79
|
0.005
|
0.007
|
26.0
|
76.0
|
102.0
|
|
|
|
|
|
|
|
|
|
|
OPM-19-23
|
0.48
|
0.39
|
0.07
|
2.00
|
0.004
|
0.006
|
22.0
|
187.0
|
209.0
|
*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.
|
°Composite includes
intervals no greater than 6.0m with results inferior to 0.30%
Cu-Eq.
|
Hole OPM-19-19
Hole 19 was drilled towards the south just north of Vein #1 to a
depth of 151.0 metres and intersected 133.9 metres of 0.65% copper
equivalent, including 0.59% copper equivalent over 13.2 metres from
16.1 metres down hole (Vein #1), 4.65% copper equivalent over 7.9
metres from 81.1 metres down hole (Vein #2), 0.52% copper
equivalent over 19.0 metres from 98.6 metres down hole and 1.82%
copper equivalent over 12.3 metres at the end of the hole from
137.7 metres down hole (western extension of Vein #34).
Hole OPM-19-20
Hole 20 was oriented northwest and was drilled near the edge of
Vein #20 and intersected several high grade zones as the hole moved
in and out of the vein. The hole intersected 102.1 metres of 0.57%
copper equivalent, including 1.55% copper equivalent over 7 metres
from 18.0 metres down hole and 1.62% copper equivalent over 14.8
metres from 61.5 metres down hole. The bottom of the hole
intersected 21.1 metres of 0.97% copper equivalent from 96.0
metres.
Hole OPM-19-21
Hole 21 was collared between the #2 and #3 Veins and was drilled
to the south to a depth of 109.0 metres. Hole 21 intersected 100
metres of 0.36% copper equivalent from 7.0 metres down hole
including 0.50% copper equivalent over 17.0 metres from 7.0 metres
down hole and 1.10% copper equivalent over 15.3 metres from 34.0
metres down hole. No major veins are known in this area,
although the hole did intersect several narrow high grade
veins.
Hole OPM-19-22
Hole 22 was oriented northwest and was drilled near Vein #23 and
intersected a wide zone of mineralization near a stope but did not
enter it and was stopped after entering rhyolite. The hole
intersected 114.0 metres of 0.48% copper equivalent, including
1.52% copper equivalent over 26.0 metres from 76.0 metres down
hole. The hole was
Hole OPM-19-23
Hole 23 was oriented northwest and drilled into the
rhyolite-pyroxenite/gabbro contact to test for mineralization
outside of the known veins. The hole was drilled to 223.6 metres
and was mostly unmineralized, but intersected 0.48% copper
equivalent over 22.0 metres at the bottom of the hole (from 187.0
metres down hole). The hole is not well mineralized except
near the contact with the rhyolite confirming once again our
interpretation of the favourable nature of the intrusive
contact.
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