Doré Copper Mining Corp. (the "
Corporation" or
"
Doré Copper") (TSXV: DCMC; OTCQX: DRCMF; FRA:
DCM) is pleased to announce the final results from its 2022
drilling program on its flagship Corner Bay property, located in
the Chibougamau mining camp, approximately 40 kilometers by road
from Chibougamau, Québec. In 2022, Doré Copper has completed 44
holes totaling 38,405 meters and is reporting today the assay
results from the last 12 holes.
This drilling program is part of the feasibility
study work to upgrade the Inferred Mineral Resource to the
Indicated category. Another infill drilling program of
approximately 2,000 meters is planned at Devlin for the first
quarter of 2023.
Drilling Highlights
Main Vein below dyke
- CB-22-86: 5.1 meters of
5.68% Cu, 0.32 g/t Au, 18.3 g/t Ag, and 510 ppm Mo
- CB-22-83: 2.6 meters of
3.69% Cu, 10.3 g/t Ag, and 414 ppm Mo
Main Vein above dyke
- CB-22-96: 3.3 meters of
2.53% Cu, 0.40 g/t Au and 2.1 meters of 4.73% Cu, 0.23 g/t Au, 45.5
g/t Ag, and 401 ppm Mo
Ernest Mast, President and CEO of Doré Copper,
commented, “We have completed nearly 40,000 meters of drilling at
Corner Bay in 2022, mostly infill drilling required for the
feasibility study. Overall, the results confirm the continuity of
the copper mineralization in the deposit. We have also identified a
number of holes from 2004 with high-grade copper mineralization in
the upper portion of the deposit that were not incorporated in the
mineral resource. It is our intention to continue the Corner Bay
infill drilling program in 2023 following the exploration drilling
at the Doré Ramp and Joe Mann as detailed in the September 12, 2022
news release. Subject to improved market conditions and additional
funding, we now expect to complete the feasibility study in
2024.”
Corner Bay Drilling Program
The drilling program which started in early 2022
is designed to infill the Corner Bay deposit at a 50 to 60 meter
spacing from surface to a depth of 1,000 meters. From today’s
results, 9 holes intersected the Main Vein above the dyke and the
remaining 3 holes intersected the Main Vein below the dyke. The
results are continuing to confirm the continuity of the copper
mineralization for the Main Vein above and below the dyke (Figure 1
and Table 1).
The results today have defined the presence and
continuity of a second vein located 50 meters east of the Main Vein
above the dyke (Figure 2). This second vein has been intersected by
six drill holes to date (CB-21-53, 58, 60 and CB-22-96, 97 and 98)
and remains open up-dip. Mineralization in this area appears to be
parallel and controlled by mafic dykes, interpreted as originating
from the Chibougamau Pluton. Hole CB-21-53 intersected 2.0 meters
of 3.34% Cu, 0.56 g/t Au, and 15.6 g/t Ag (February 8, 2022 news
release), hole CB-21-58 intersected 0.6 meter of 0.9% Cu, and hole
CB-21-60 intersected 1.6 meters of 1.27% Cu.Following a review of
the required drilling for the feasibility study, the Company has
identified nine (9) holes from 2004 that were excluded from the
current mineral resource estimate (see Figure 1 and Table 2). All
holes intersected copper mineralization at a shallow depth in the
two subparallel veins (Main Veins) above the dyke. Significant
high-grade intercepts included:
- CB-04-13: 7.07 meters of
10.09% Cu, 0.61 g/t Au
- CB-04-15: 13.0 meters of
3.23% Cu, 0.38 g/t Au
- CB-04-17: 13.25 meters of
8.52% Cu, 0.51 g/t Au
Corner Bay Deposit
In the Preliminary Economic Assessment announced
on May 10, 2022, the Mineral Resource estimate (“MRE”) for Corner
Bay contains an Indicated Resource of 2.68 Mt at 2.66% Cu and 0.26
g/t Au containing 157 million pounds of copper and 22,000 ounces of
gold and an Inferred Resource of 5.86 Mt at 3.43% Cu and 0.27 g/t
Au containing 443 million pounds of copper and 51,000 ounces of
gold, based on a cut-off grade of 1.3% Cu and a copper price of
US$3.75 per pound (refer to Technical Report dated June 15, 2022)1.
The Corner Bay deposit contains significant silver and molybdenum
which have not been included in the prior MREs. The feasibility
study will include the addition of silver and molybdenum as
by-products.
The Corner Bay deposit is hosted by the
intrusive Lac Doré Complex on the southern flank of the Chibougamau
anticline. A regional north-northeastern diorite dyke also cuts the
area. Several significant shear zones oriented north-south and
northwest-southeast have been identified in the area. The Corner
Bay area is characterized by copper porphyry style mineralization
and by copper mineralization in shear zones commonly associated
with dykes related to the Chibougamau Pluton.
Figure 1. Composite Long Section of the
Corner Bay Deposit Showing the 2022 Drill Results
Figure 2. Cross Section Showing Main Vein
and Vein #2 in the Area of Hole CB-22-96
Table 1. Corner Bay Recent Drill Assays
Highlights from the 2022 Drill Program
Hole |
From(m) |
To(m) |
Width1(m) |
Cu (%) |
Au (g/t) |
Ag (g/t) |
Mo (ppm) |
Zone |
CB-22-83 |
1,063.3 |
1,065.9 |
2.6 |
3.69 |
0.07 |
10.3 |
414 |
MV below dyke |
CB-22-86 |
1,067.7 |
1,072.8 |
5.1 |
5.68 |
0.32 |
18.3 |
510 |
MV below dyke |
CB-22-92 |
754.5 |
758.5 |
4.0 |
1.47 |
0.45 |
10.1 |
699 |
MV above dyke |
CB-22-93 |
1,184.7 |
1,191.2 |
6.5 |
1.53 |
0.11 |
5.3 |
- |
MV below dyke |
CB-22-94 |
692.0 |
694.3 |
2.3 |
1.58 |
0.35 |
12.1 |
236 |
MV above dyke |
CB-22-95 |
No significant mineralization |
MV above dyke |
CB-22-95W1 |
No significant mineralization |
MV above dyke |
CB-22-96 |
807.7 |
811.0 |
3.3 |
2.53 |
0.40 |
21.2 |
1,877 |
MV above dyke |
|
852.5 |
854.6 |
2.1 |
4.73 |
0.23 |
45.5 |
401 |
MV above dyke V2 |
CB-22-97 |
761.9 |
766.1 |
4.2 |
2.27 |
0.10 |
14.4 |
406 |
MV above dyke |
|
823.1 |
825.9 |
2.8 |
1.76 |
0.03 |
5.4 |
- |
MV above dyke V2 |
including |
824.2 |
825.0 |
0.8 |
6.01 |
0.09 |
18.2 |
370 |
“ |
CB-22-98 |
726.4 |
730.4 |
4.0 |
1.88 |
0.08 |
6.2 |
527 |
MV above dyke |
|
776.6 |
777.5 |
0.9 |
3.96 |
0.02 |
14.1 |
322 |
MV above dyke V2 |
CB-22-99W1 |
No significant mineralization |
MV above dyke |
CB-22-99 |
No significant mineralization |
MV above dyke |
- The true width of the structures
intersected is estimated at approximately 60-75% of the downhole
width. Main Vein = MV.
Table 2. Corner Bay 2004 Drill Assays
Highlights not Included in MRE
Hole |
From(m) |
To(m) |
Width1 (m) |
Cu (%) |
Au (g/t) |
Ag (g/t) |
Mo (ppm) |
Zone |
CB-04-01 |
132.28 |
136.66 |
4.38 |
2.80 |
0.35 |
NA |
NA |
MV above dyke |
|
140.62 |
147.06 |
6.44 |
2.12 |
0.33 |
NA |
NA |
MV above dyke |
CB-04-10 |
138.27 |
139.57 |
1.3 |
2.44 |
0.30 |
NA |
NA |
MV above dyke |
|
141.0 |
143.86 |
2.86 |
2.71 |
0.25 |
NA |
NA |
MV above dyke |
CB-04-11 |
146.4 |
148.73 |
2.33 |
6.24 |
0.79 |
NA |
NA |
MV above dyke |
CB-04-12 |
180.62 |
182.14 |
1.52 |
1.58 |
0.37 |
NA |
NA |
MV above dyke |
CB-04-13 |
213.03 |
220.1 |
7.07 |
10.09 |
0.61 |
NA |
NA |
MV above dyke |
CB-04-14 |
105.82 |
109.83 |
4.01 |
3.44 |
0.39 |
NA |
NA |
MV above dyke |
CB-04-15 |
100.12 |
104.59 |
4.47 |
1.34 |
0.21 |
NA |
NA |
MV above dyke |
|
112.34 |
125.34 |
13.0 |
3.23 |
0.38 |
NA |
NA |
MV above dyke |
CB-04-16 |
158.19 |
162.54 |
4.35 |
4.74 |
0.39 |
NA |
NA |
MV above dyke |
CB-04-17 |
181.73 |
194.98 |
13.25 |
8.52 |
0.51 |
NA |
NA |
MV above dyke |
- The true width of the structures
intersected is estimated at approximately 50-70% of the downhole
width. Main Vein = MV
Drilling and Quality
Control
The Company is using Miikan Drilling as the
drilling contractor. Miikan is a joint venture between Chibougamau
Diamond Drilling Ltd., the First Nations community of
Ouje-Bougoumou and the First Nations community of Mistissini both
located in the Eeyou Istchee territory.
Sample preparation and analysis within the
mineralized zones are completed at AGAT Laboratories in
Mississauga, Ontario. For AGAT, samples are weighed, dried, crushed
to 75% passing 2 mm, split to 250 g, and pulverized to
85% passing 75 microns. Samples are then fire assayed for Au
(50 g) and 4 acid digest ICP-OES finish for 43 elements.
Outside the mineralized zones, sample preparation is completed at
SGS Canada Inc. in Val-d’Or, Québec and analysis (fire assay and
ICP analysis) is completed at SGS Canada Inc. in Burnaby, B.C.
Samples are weighed, dried, crushed to 75% passing 2 mm, split
to 250 g, and pulverized to 85% passing 75 microns. Samples
are then fire assayed for Au (50 g) and sodium peroxide fusion
ICP-MS finish for 34 elements.
QA/QC is done in house by Doré Copper Geologists
with oversight from the Vice President Exploration. The check
samples (blanks and standards – 4% of total samples with another 2%
of core duplicates) that were inserted into the sample batches are
verified against their certified values and are deemed a pass if
they are within three standard deviations of the certified value.
The duplicates are evaluated against each other to determine
mineralization distribution (nugget). If there are large
discrepancies in the check samples, then the entire batch is
requested to be re-assayed.
Sylvain Lépine, M.Sc, P.Geo., Vice President
Exploration of the Corporation and a "Qualified Person" within the
meaning of National Instrument 43-101, has reviewed and approved
the technical information contained in this news release.
About Doré Copper Mining
Corp.
Doré Copper Mining Corp. aims to be the next
copper producer in Québec with an initial production target of +50
million pounds of copper equivalent annually by implementing a
hub-and spoke operation model with multiple high-grade copper-gold
assets feeding its centralized Copper Rand mill1. The Corporation
has delivered its PEA in May 2022 and is proceeding with a
feasibility study.
The Corporation has consolidated a large land
package in the prolific Lac Doré/Chibougamau and Joe Mann mining
camps that has historically produced 1.6 billion pounds of copper
and 4.4 million ounces of gold2. The land package includes 13
former producing mines, deposits and resource target areas within a
60-kilometer radius of the Corporation's Copper Rand Mill.
For further information, please contact:
Ernest Mast |
Laurie Gaborit |
President and Chief Executive Officer |
Vice President, Investor Relations |
Phone: (416) 792-2229 |
Phone: (416) 219-2049 |
Email: ernest.mast@dorecopper.com |
Email: laurie.gaborit@dorecopper.com |
Visit: www.dorecopper.com Facebook: Doré Copper MiningLinkedIn:
Doré Copper Mining Corp.Twitter: @DoreCopperInstagram:
@DoreCopperMining
- Technical report titled
"Preliminary Economic Assessment for the Chibougamau Hub-and-Spoke
Complex, Québec, Canada" dated June 15, 2022, in accordance with
National Instrument 43-101 Standards of Disclosure for Mineral
Projects (“NI 43-101”). The Technical Report was prepared by
BBA Inc. with several consulting firms contributing to sections of
the study, including SLR Consulting (Canada) Ltd., SRK Consulting
(Canada) Inc. and WSP Inc.
- Sources for historic production
figures: Economic Geology, v. 107, pp. 963–989 - Structural and
Stratigraphic Controls on Magmatic, Volcanogenic, and Shear
Zone-Hosted Mineralization in the Chapais-Chibougamau Mining Camp,
Northeastern Abitibi, Canada by François Leclerc et al. (Lac
Dore/Chibougamau mining camp) and NI 43-101 Technical Report on the
Joe Mann Property dated January 11, 2016 by Geologica
Groupe-Conseil Inc. for Jessie Ressources Inc. (Joe Mann
mine).
Cautionary Note Regarding
Forward-Looking Statements This news release includes
certain "forward-looking statements" under applicable Canadian
securities legislation. Forward-looking statements include
predictions, projections and forecasts and are often, but not
always, identified by the use of words such as "seek",
"anticipate", "believe", "plan", "estimate", "forecast", "expect",
"potential", "project", "target", "schedule", "budget" and "intend"
and statements that an event or result "may", "will", "should",
"could" or "might" occur or be achieved and other similar
expressions and includes the negatives thereof. Specific
forward-looking statements in this press release include, but are
not limited to aiming to be the next copper producer in Québec with
an initial production target of +50 Mlbs of copper equivalent
annually; implementing a hub-and spoke operation model; and
completion of feasibility study in 2024.
All statements other than statements of
historical fact included in this release, including, without
limitation, statements regarding the timing and ability of the
Corporation to receive necessary regulatory approvals, and the
plans, operations and prospects of the Corporation and its
properties are forward-looking statements. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties and other factors which may cause
actual results and future events to differ materially from those
expressed or implied by such forward-looking statements. Such
factors include, but are not limited to, actual exploration
results, changes in project parameters as plans continue to be
refined, future metal prices, availability of capital and financing
on acceptable terms, general economic, market or business
conditions, uninsured risks, regulatory changes, delays or
inability to receive required regulatory approvals, health
emergencies, pandemics and other exploration or other risks
detailed herein and from time to time in the filings made by the
Corporation with securities regulators. Although the Corporation
has attempted to identify important factors that could cause actual
actions, events or results to differ from those described in
forward-looking statements, there may be other factors that cause
such actions, events or results to differ materially from those
anticipated. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements. The Corporation disclaims any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
Photos accompanying this announcement are available
athttps://www.globenewswire.com/NewsRoom/AttachmentNg/a859cf4b-6e5f-4b6e-996c-93f4a32d5879https://www.globenewswire.com/NewsRoom/AttachmentNg/2eca35d0-cf51-4379-a1af-4e9485bb643a
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