Toronto, Ontario – October 2, 2018 – Power Ore (“Power Ore” or the “Company”) (TSX.V: PORE) is pleased to present the results of the airborne magnetic survey and interpretations of the Mann Mine area. The purpose of the magnetic survey is to identify the structural controls associated with cobalt and silver mineralization and to delineate new drill targets.

“What this magnetic survey identifies is the clear north-south magnetic high structure which is the Nipissing Diabase sill that typically hosts the region’s high-grade silver and cobalt mineralization. What is new is that this high-resolution mag has identified magnetic lows which horizontally intersect the high magnetic diabase sill. These mag lows appear to correlate with historically mined areas and our areas of known mineralization. We believe that the mineralizing fluids cross cut the diabase along an east-northeast trend and altered the rock, destroying magnetite which now identifies as the mag low features. Clearly this will be our area of interest for future drilling and exploration,” said Charles Beaudry, V.P. Exploration for Power Ore.

 

High Resolution Magnetic Image (Figure 1)

This image depicts the high-resolution magnetic survey and identifies the cross cutting magnetic lows as areas of interest for drilling.

 

Geological Map of the Mann Mine Area (Figure 2)

This geological map of the Mann Mine area was generated using historical surveys that were modified based on the results from the high-resolution magnetic survey.

 

The 50 metre spaced north-south flight lines of the magnetic data provides twice the previous resolution, which is critical in interpreting the subtle cross cutting structures associated with the silver and cobalt mineralized veins on the Mann Mine property.

Figure 1 highlights these magnetic low targets (in white) with the extension of Zone D (in black), which returned very high silver intersections:

  • 979 g/t silver, over 5.1 metres in hole MN11-03, including 5,130 g/t silver over 0.7 metres in the most recent drilling.
  • 34% cobalt over 5.8 metres, including 1.12% cobalt over 1.4 metres immediately south of Zone D. This zone corresponds to an East Northeast trending fault lineament and is planned to be drill-tested.

 

A new geological map of the Mann Mine area has been interpreted from the high resolution drone magnetic data and the historical mapping.  The Nipissing diabase is not a monolithic unit as previously mapped but is layered with some highly magnetic horizons that appear to be more favorable for silver-cobalt mineralized veins.  Moreover a low-angle cross cutting magnetic feeder dyke appears to have intruded the diabase sill and fed the highly magnetic diabase horizon that correlates with the silver and cobalt mineralization at the Mann Mine (Figure 2).

“We are extremely pleased with the results of the drone survey as only with a drone is this super high resolution required to interpret these cross cutting structures is practically possible., We plan to use this type of survey on all our projects.  Structural controls on mineralization are subtle features that can be highlighted only with very tight line spacing at tree top level, which is exactly what the drone does for us,” added Mr. Beaudry.

 

QP Statement

The technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo, Director and Vice President Exploration for PowerOre Inc., who is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.”

 

For additional information on Power Ore, please see our News Release and Video section of our website.

 

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To speak to the Company directly, please contact:

Stephen Stewart, Chief Executive Officer

Phone:  416.644.1571

Email:  sstewart@powerore.com

www.powerore.com

 

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.