PowerOre Inc (CVE:PORE) told investors Tuesday that drill results from its flagship Opemiska copper project revealed 12 mineralized intersections around 100 metres in width.
Full results from the company’s 23-hole, 3,364 metres drill program were released on Tuesday, showing high-grade intersections of more than 1% copper equivalent (CuEq).
The current drill program focused exclusively on the formerly producing Springer mine on the property, which is now being reinterpreted as an open-pit project.
READ: Power Ore's latest drill results uncover new areas of mineralization at Opemiska copper project
Exploration at the Hinge zone at the Springer target highlighted a number of narrow high-grade veins that were never identified by Falconbridge, which once owned the mine.
One hole intersected 0.8% CuEq over 105 metres, with another intersecting 1% CuEq over 162 metres and yet another intersecting 0.6% CuEq over 97 metres.
At the Mill zone, which extends northeast from Hinge, drilling confirmed high grades of the disseminated mineralization with one hole intersecting 2.5% CuEq over 74 metres.
The Toronto-based company also saw the potential for gold as a by-product from the Springer mine.
“Although no systematic spatial relationship has been identified for the high gold values, there is good correlation between gold and copper, with nearly 5% of the gold assays showing over 1 gram per ton (g/t) gold, with the highest value of 9.9 g/t,” the company said in a statement.
Additional drilling is warranted at Springer in multiple existing and new zones, Power Ore said in a statement, as well as further infill drilling to increase the confidence in resource estimate categorization.
The company also said that it is currently digitizing historical work and generating a block model at Perry, which is expected to be completed in September.
Located near the town of Chapais, Quebec within the prolific and infrastructure-rich Chibougamau region, the junior explorer believes Opemiska could be a high-grade, open-pit resource with access to infrastructure.
Shares of Power Ore were trading at C$0.08 in Toronto on Tuesday morning.
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