NEWS RELEASE – Montréal, Québec. November 24th, 2021. E-Power Resources Inc. (“E-Power” or the “Company”) is pleased to report having received the final report and data for the Turgeon property magnetic and time-domain electomagnetic (“Mag-TDEM”) survey completed in early October, 2021.
The survey was flown by Propsectair Geosurveys Inc. (based in Gatineau, Quebec) and consisted of the collection of magnetic (”Mag”) and Time-Domain Electomagnetic (“TDEM”) data. Approximately 4,000 line kilometres (“km”) were flown at a line spacing of 50 metres (“m”) thus providing a high resolution of bedrock magnetic and and conductivity properties on the property. The Company is currently evaluating the data and has engaged a consulting geophysicist to assist in evaluation of the data particularly in the interpretation of conductivity intensity and patterns and potential relationship with sulphide and/or massive sulphide mineralization. Preliminary interpretation of the magnetic data indicates the presence of folds, faults, fault intersections, and other features potentially indicating favourable structural settings for orogenic type gold mineralization. The Company will be developing and prioritizing targets for exploration over the next 6 to 8 weeks.
About the Turgeon Property
Located in the Abitibi region of western Québec adjacent to the Ontario border, the Turgeon property consists of 331 claim units totalling 18,366 hectares. The property is located within the prolific Abitibi gold and base metal mining district of Québec and Ontario which has produced in excess of 200 million (“M”) ounces (“oz”) of gold and 775 M tonnes of base metal sulphide. Current and past producing mines in the area of the Turgeon property include the Detour Lake Gold Mine located approximately 25 km to the northwest, the Casa Berardi Gold Mine located approximately 10 km to the south, and the Selbaie Mine located approximately 30 km to the east. The Detour Lake Mine has annual production on the order of 600,000 ounces Au and proven and probable reserves of 15.4 million ounces Au. The Casa Berardi Gold Mine has produced greater than 2 million oz Au, has annual production of approximately 125,000 oz Au, proven and probable reserves totalling approximately 1.5 M oz Au, and measured and indicated resources of approximately 1.2 M oz Au. The past producing Sebaie base metal mine produced approximately 53 M tonnes of ore at average grades of 1% Cu, 2% Zn, and 0.6 g/t Au. Turgeon is an early stage exploration property being evaluated by E-Power primarily for its copper-zinc and gold potential. Targetting graphite mineralization, the Company completed a short diamond drill program in April 2019 that resulted in an intersection of 9.65 % Cg (carbon as graphite) over an intersection length of 42 metres (“m”) which included a high-grade section of of 21.62 % Cg over 8.80 m.
Jamie Lavigne, P. Geo, President and Director for E-Power is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical information in this press release.