Toronto, Ontario – February 19, 2019 – PowerOre Inc. (“Power Ore” or the “Company”) (TSX.V: PORE) is pleased to provide additional information on the disseminated mineralization surrounding the veins at Opemiska Copper Complex (“Opemiska”). As our data model is firming up it indicates that the grade and width limitations adopted during the underground mining phase is opening up considerable tonnage potential for surface exploitation.
In addition to the surface crown and other pillars of the named veins there are four other potential sources of open-pitable mineralization present on the Springer mine which are as follows:
- Widespread disseminated mineralization near the contact with the structurally underlying unmineralized Blondeau rhyolites where solutions apparently ponded and deposited disseminated copper-gold mineralization;
- Wide disseminated mineralization which occurs between the veins in certain areas;
- Unmined extensions of named veins where they were too narrow or too low grade for underground mining;
- Unidentified narrow veins that were never mined for the same reason.
“These observations are part of the ongoing work to build an updated and accurate picture of the Opemiska Project that will be incorporated into the resource estimation phase. Our Gemcom data model is near completion and we will be moving forward towards re-assaying previously drilled core for multi elements, as well as a new drill campaign focused on zones with disseminated material, crown pillars and validating earlier work. All of this will be compiled into our maiden NI 43-101 resource estimate which is the Company’s near-term objective,” said Charles Beaudry, M.Sc., PGeo and géo, Director and VP Exploration for Power Ore.
Technical Explanation on Disseminated Mineralization
Several areas contain a larger abundance of disseminated mineralization, particularly in the hinge zone of the fold, near #3 vein, between #3 and #4 veins and in the vicinity of #1 and #2 veins. Moreover it was well known by Falconbridge that the contact between the Ventures Sill and the structurally underlying rhyolites of the Blondeau Formation was an impermeable barrier to the copper-gold mineralization which tended to pool where the veins intersect the contact. The result is that along the contact there is disseminated mineralization that was too low grade for underground mining but exactly the type of material Power Ore is trying to outline.
Underground mining at the Springer mine focused on series of steeply dipping veins that cut gabbro and pyroxenite facies of the Ventures Sill. The sill has been complexly folded into an overturned synformal anticline with the fold hinge plunging moderately to the east. The Opemiska veins were mined wherever they were wide and rich enough to cover costs of mining and milling. Accordingly, a considerable amount of lower grade material found between the veins and in narrower portions of the veins made the material uneconomic to mine in an underground situation. The veins were mined to within a short distance of surface but crown pillars were invariably left behind and in some places and particularly around the old mill buildings where thicker crown pillars were left as a measure of safety. These crown pillars are presently being wire-framed and will be included in our in-pit resource estimation.
Also, there are numerous additional veins that were too narrow in an underground mining context and which were left behind by Falconbridge. One such vein was found on surface between #1 and #2 veins and was stripped and sampled by Explorateurs Innovateurs de Québec Inc (“Ex-In”). This vein was found to contain high grades over moderate widths but no underground stopes were found on this vein. This vein and similar ones will be separately wireframed and included in any open pit resource scenario.
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 power station 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.
QP Statement and Note on Exploration Targets
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.” The potential tonnage and grade of these Exploration Targets are conceptual in nature. There has been insufficient exploration to define them as mineral resources and it is uncertain if further exploration will result in the targets being delineated as mineral resources. Power Ore advises that no one should consider these targets as mineral resources; however, the Company’s objective is to define mineral resources initially and then to work towards engineering activities to define any economic viability of the Opemiska Copper Project. The exploration targets defined on the old Springer and Perry mines are based on thousands of holes that were drilled during the mining period of both mines, many of which were drilled from underground and for which no core is left to resample or log and therefore cannot easily be confirmed. With respect to the results from the Ex-In drilling we have all the original assay certificates and we have reviewed all the available QC results which included standards, blanks and duplicates. The pulps and rejects from all the Ex-In drilling are available as well as all the core and we plan on resampling the pulps with rigorous QAQC protocols in order to be able to use these drill results in any future resource estimation.
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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.