News brief: The Perry Mine represents the second half of
what is collectively known as the Opemiska Copper Mine Complex.
All of Power Ore's work announced to date has been on the
Springer Mine. With the recent completion of digitization and 3D
modelling of the Perry Mine, Power Ore will detail its plan and
drill program on Perry which produced 9 million tonnes at 2.16%
copper and 0.14 g/t gold using a cutoff grade of approximately 1.5%
copper.
TORONTO, Nov. 12, 2019 /CNW/ - PowerOre Inc. ("Power
Ore" or the "Company") (TSX.V: PORE) is pleased to announce the
completion of 3D modelling of the veins, stopes and underground
workings of the Perry Mine at its flagship Opemiska Copper Mine
Complex. The Company has now created a block model to evaluate the
distribution of mineralization within the historical Perry Mine as
well as the Springer Mine, the 3D modelling of which was completed
earlier (see April 17th
2019 news release).
Click here to View Perry Mine's 3D Model
Fly-By
"Our team committed significant resources over the past six
months to complete data entry and digitization of all historical
drill data and the manual wireframing of all stopes and veins on
Perry in preparation of block modelling and internal resource
estimation. Our goal is to outline an underground bulk mining
scenario for Perry and this essential precondition is now
complete. The next step is to complete a drill program to
validate the historical drilling on the Perry Mine and proceed to a
resource estimate that will complement our ongoing work on the
Springer Mine," said Stephen
Stewart, CEO of Power Ore.
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 3.5 million tonnes of mine
reserves and resources left behind in and near the stopes.
Mine consulting firm, RPA, completed work on both mines in 2013
and 2014, and published Exploration Targets that ranged between 16
and 33 million short tons (14.5 and 30 million tonnes), grading
1.0% to 1.4% copper, and 0.012 to 0.020 oz/ton gold (0.41 to 0.69
gpt gold) for Springer and a further potential at Perry of between
0.5 and 1.4 million short tons (0.4 and 1.3 million tonnes) between
1.0 and 1.5% copper. Additionally, RPA delineated a potential
underground target at Perry of between 3 and 11 million short tons
(2.7 and 10 million tonnes) grading between 1.5 and 2.5%
copper.
Perry Mine 3D Modelling and Sample Sections
The
database inherited by Power Ore included over 14,500 diamond drill
holes totaling over 850,000 metres and nearly 304,000 individual
core assays in addition to digitized level plans and modelled
stopes and veins. We recently added 1,513 additional drill holes,
compiled and digitized from the original diamond drill logs,
totaling over 139,000 metres including 31,305 individual
assays. Most of the additional results are from the Perry
Mine and are critical to improving the quality of the interpolation
of composite assay results. The resulting 3D model of Perry
comprises 877 stopes that represent over 9 million metric tonnes of
mined out material at an average density of 2.8.
"The revised interpretation of Perry has added considerable
detail to its 3D model and we are now ready to proceed to the next
phase to evaluate the distribution of mineralization above various
cutoff grades. Because Perry is modelled as a bulk mineable
underground mine, we need to better understand the geometry of the
mineralization as well as the volume of material to determine if
our hypothesis can hold true," said Charles
Beaudry, P.Geo, director and VP Exploration of Power
Ore.
Click here to view Sections from Perry
Mine
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.
Note on Historical Mineral Reserves and Mineral Resources and
on Exploration Targets
The mineral reserves left in the mine
when production was suspended are historical in nature and cannot
be considered mineral reserves for our purposes. Power Ore
considers that insufficient work has been done on the Springer mine
to define any mineral resources and does consider historical
reserves to be mineral reserves or mineral resources and only
presents these numbers to indicate the amount of mineralized
material left behind by Falconbridge. The potential tonnage
and grade of Exploration Targets defined by RPA Consultants 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. As such Power Ore does not consider exploration
targets as mineral resources and neither should the reader.
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
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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