Power Ore Inc (CVE:PORE) said the previously announced acquisition of the Cooke copper and Robaitaille gold mine properties has now closed.
The February announced acquisition of the former producing mines in Quebec boosted the company’s flagship Opemiska Copper Complex property from 797 hectares to nearly 10,000 hectares. The deal also includes 12 kilometres of strike of the Gwillin Fault, the firm said.
READ: Power Ore investee Baselode Energy completes qualifying transaction to list on the TSX Venture Exchange
"The Opemiska now includes four former producing copper and gold mines with substantial production over five decades," Stephen Stewart, Power Ore's CEO said in a statement.
"Within this consolidated land package our strategy will be to continue to develop resources in and around these mines to delineate its bulk tonnage potential while also looking for new discoveries along the significantly expanded land package along the Gwillim fault."
Throughout Power Ore's new expanded ground, on both sides of the Gwillim Fault, numerous copper-gold veins have been encountered in drilling.
The focus of Power Ore's exploration will be on ascertaining the correct orientation of the veins in order to increase our chances of making a discovery, it said.
There are four potential deposit types which will need follow up studies, the group added.
Power Ore also published the first NI 43 101 report on historical production from the Opemiska Copper Complex, which pegged total output at over 23.6 million tonnes at 2.14% copper and 0.99 grams per ton (g/t) gold.
Contact the author at [email protected]
