Copper price set for worst week since 2022 as China Plenum disappoints
Copper prices have retreated from a record hit in May on concerns about the strength of demand in China.
Toronto-based PowerOre has received promising assays from two more drill holes at the Opemiska copper mine complex near Chapais. The location puts the project within Quebec’s Plan Nord.
Hole OPM-19-08 returned 0.04% copper, 2.84% zinc, 1.95 g/t gold. 7.19 g/t silver and 0.006% cobalt over 8.0 metres and 0.35% copper, 0.08% zinc, 0.12 g/t gold, 3.31 g/t silver and 0.004% cobalt over 12.4 metres.
Hole OPM-19-09 tested 0.19% copper, 0.008% zinc, 0.10 g/t gold, 1.05 g/t silver, and 0.003% cobalt over 295.6 metres, including 0.59% copper, 0.009% zinc, 0.15 g/t gold, 3.41 g/t silver and 0.005% cobalt over 19.8 metres. There were two further intersections: 108.0 metres of 0.99% copper, 0.011% zinc, 0.22 g/t gold, 3.09 g/t silver, and 0.007% cobalt and 16.0 metres of 0.56% copper, 0.08% zinc, 0.46 g/t gold, 4.97 g/t silver and 0.010 cobalt.
PowerOre says the Opemiska complex includes the former Springer and Perry mines that were operated by Falconbridge for over 35 years until 1991.
This article first appeared in the Canadian Mining Journal
