Toronto, Ontario – October 15, 2018 – Power Ore (“Power Ore” or the “Company”) (TSX.V: PORE) is pleased to announce its results from the stockpile sampling program conducted at the end of September. As part of its larger exploration program detailed in September 6th news release, the Company had located numerous stockpiles near the underground openings. Subsequently, Power Ore planned a sampling program on these stockpiles to identify which ones contain mineralized material. A total of 10 samples were collected and assayed which yielded the following positive results:
Summary of sample results from stockpiles at Mann Mine. Table 1.
|Cobalt (%)||Silver (g/t)||Copper (%)||Sample #|
“We were pleased to see some significant assay results on the samples including one over 5% and two over 1%. While the focus for the Mann Mine is to extend the known in situ mineralization, we felt it was imperative to take a closer look at the various historical workings, including stockpiles and tailings, given the production was solely focused on high-grade silver and that cobalt was considered waste. The results of the sampling program confirms our hypothesis that there is potential for high grade cobalt in the stockpiles sitting at surface. Furthermore, we are also pleasantly surprised at the silver content in these stockpiles, with one sample assaying over 10,000 g/t Ag,” said Stephen Stewart, Power Ore’s CEO.
About the Mann Mine
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The Mann silver-cobalt mine property is located in the Milner township, in Ontario. The property covers 867 hectares, and is located west of Cobalt, Ontario, within the renowned Temiskaming silver area. The property contains 9 historic shafts and a ramp driven to the 210-foot level. Historically, the Mann Mine produced 330,000 ounces of silver prior to 1987.
Modern drilling on the Mann mine has confirmed the existence of high grade mineralization which is consistent with its historical production. Results are as follows:
Table 2: Summary of Mineralized intersections on the Mann Mine Property (see CRESO News Releases published on Sedar.ca on 1-12-2011, 14-12-2011 and 4-4-2012)
|Hole Number||From (m)||To (m)||Interval (m)||Co Grade (%)|
|Hole Number||From (m)||To (m)||Interval (m)||Ag Grade (g/t)|
Historical work has confirmed that the silver mineralization at the Mann Mine property is typical of that found elsewhere in the Cobalt Mining district and occurs as native silver and arsenides and sulphides of silver, cobalt and copper in quartz calcite veins that are sub-vertical and either east-west or nearly north-south. The veins are typically quite narrow but may locally expand to several metres at the intersections of fault structures. This is apparently what happened on Zone D near Shaft #5.
PowerOre uses rigorous quality control for its analytical work including the insertion of standards and blanks in every batch of samples submitted to the laboratory and review of control sample results immediately upon receipt of results.
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.”
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To speak to the Company directly, please contact:
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.