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Power Ore Receives 6 Month Extension on All Opemiska Terms
Power Ore Receives 6 Month Extension on All Opemiska Terms Canada NewsWire TORON...
About this update from Xxix Metal Corp.
[{"type":"text","content":"\n\n\n\nPower Ore Receives 6 Month Extension on All Opemiska Terms\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, May 6, 2020\n\n\n\nTORONTO, May 6, 2020 /CNW/ - Power Ore Inc. (\"Power Ore\" or the \"Company\") (TSX.V: PORE) is pleased to announce that it has received a 6-month deferral on all of its remaining milestone obligations outlined in the Opemiska Copper Complex acquisition news release dated December 12, 2018. \nPower Ore has already completed all of its work obligations up until May 22, 2022, and as a result of this new agreement, can opt to defer its $150,000 payment to Ex-In until May 22, 2021. Although Power Ore is funded and able to make this payment, in light of the exploration restrictions in place due to Covid-19, the Company asked for and received this 6 month deferral to all commitments within the agreement. \n\"Time is always an ally in resource development, so we are happy to announce this extension and thank our partners at Ex-In. We look forward to continuing our exploration at the Opemiska Copper Complex as soon as it is safe and pragmatic for everyone involved,\" said Stephen Stewart, Power Ore's CEO. \nAbout the Opemiska Copper 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 Opemiska property covers 9,852 hectares and covers the past producing Springer, Perry, Robitaille and Cooke mines which were owned and operated by Falconbridge. The project has excellent in place infrastructure including a power station and direct access to Highway 113 and the Canadian National Railway.\nAnd please follow us on Twitter @PowerOre\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Excha...