Toronto, Ontario – November 22, 2019 – 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.
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“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.
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.
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.
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.
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Stephen Stewart, Chief Executive Officer
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.