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Drilling Opemiska: High-Grade Copper Near Surface

Jon Brown Jon Brown, Stockhouse
0 Comments| July 11, 2019

Click to enlarge

Toronto-based Power Ore Inc. (TSX: V.PORE, Forum) is continuing to receive more promising assays from its brownfield copper project in the Chibougamau District of Québec. Having just released the third batch of results from its spring 2019 drill program at the Opemiska Copper Mine Complex, the Company has completed 23 diamond drill holes in this 3,364 metre drill campaign. The drill campaign is aimed specifically at the projects nears surface disseminated copper and gold mineralization. The news release offers a deeper look into these results.

Drill holes 8 and 9 highlights include:

  • 295.6 metres at 0.29% copper equivalent over starting at 25.0 metres down hole in hole OPM-19-09, including:
  1. 0.77% copper equivalent over 19.6 metres from 26.4 metres and;
  2. 1.23% copper equivalent over 21.0 metres from 87.0 metres and;
  3. 1.03% copper equivalent over 16.0 metres from 296.0 metres.
  • 2.91% copper equivalent over 8.0 metres starting at 87.0 metres down hole; and
  • 0.52% copper equivalent over 12.4 metres from 116.6 metres in hole OPM-19-08.

Prior to this news release, the company had reported on the first 7 holes, with notable high-grade, near surface and long intervals including:

  • 1.44% copper equivalent over 57.6 metres starting at 49.4 metres down hole
  • 1.08% copper equivalent over 23.8 metres starting at 7.2 metres down hole in hole OPM-19-04
  • 130.6 metres at 0.32% copper equivalent starting at 9.0 metres down hole in hole OPM-19-07

Summary Mineralized Intersections (Holes 8-9) From Opemiska Spring 2019 Drill Program:

(Data provided by Power Ore, click to enlarge.)

Details of these mineralized intersections can be found in the Company’s June 14th and June 25th news releases.

The Company stated it will report the results for the remaining 14 holes as it receives that data. Geologist and Company Vice President Exploration, Charles Beaudry, explained that field-based and drill hole evidence has clearly indicated that several orientations of veins are present around the project, with a steep dip to the north where south directed drill holes are intersecting those veins near perpendicular. However, in the disseminated mineralization, the Company has found veins with various core angles suggesting that other directions may be important.

Historical Mineralization:

This news comes at a good time for the Company, as prices for copper, and metals as a whole, have been weathering the storm brought on by the ongoing trade dispute between the United States and China. This may soon come to a head, as BMO analysts led by Colin Hamilton told Bloomberg media recently, the sell-off in copper is expected to turn around and see higher prices by the end of the year, even if no trade accord is reached. The Opemiska project is a strategic acquisition for the Company, also given the forecasted global supply gap with copper.

(Data provided by Power Ore, click to enlarge.)

The Opemiska Copper Complex is situated in the Chibougamau District, within the Abitibi Greenstone belt. This is also within the Province of Quebec’s Plan Nord initiative, which promotes and funds infrastructure and development of natural resource projects like this one. It consists of 11 mining claims, which covers the past producing Springer & Perry mines. 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 world-class technical operator Falconbridge as a high-grade underground operation and was in production for more than 35 years prior to previous operators, Ex-In, acquiring the property in 1993. Extensive records were kept for 850,000+ metres of drilling in 14,500 drill holes and 300,000+ assets with a complete set of sections and maps. All this data has since been digitized and turned into 3D models with vertical sections and plans. Opemiska’s data is a proverbial gold mine of information to assist in its evaluation of the potential for an open pit operation in what was originally a high-grade underground mine.

FULL DISCLOSURE: This is a paid article produced by Stockhouse Editorial. 

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