Doré Copper Mining Corp. (the "
Corporation" or
"
Doré Copper") (TSXV: DCMC; OTCQX: DRCMF; FRA:
DCM) is pleased to announce its plans to drill several high
priority copper-gold targets in the Central Chibougamau mining
camp, located in proximity to its existing Copper Rand mill, near
Chibougamau, Québec (Figure 1). The drilling program is scheduled
to start at the end of June.
High Priority Drilling
Targets:
Jaculet (Figure 2)
The Jaculet mine, located 2.5 kilometers by road
from the Copper Rand mill, was in operation from 1960 to 1971 and
produced a total of 1,091,000 tonnes at 1.84% Cu, 1.44 g/t Au and
6.85 g/t Ag (20,074 tonnes of Cu and 1.57 tonnes Au)1. Jaculet was
mined to a depth of 366 meters (1,200 feet) and the shaft was
deepened to 500 meters (1,650 feet) in 1972. The Jaculet
mineralized system consists of two distinct shear zones, known as
Zone 1 and Zone 2, which both remain open at depth with very little
development below 366 meters.
Two surface holes completed in 1956 by
Chibougamau Jaculet Mines Ltd. intersected Zone 1 at a vertical
depth of approximately 400 meters. Hole V17 and V17A (wedge from
V17, located approximately 50 meters to the east) intersected
4.55% Cu and 0.86 g/t Au over 6.7 meters and 4.25% Cu and
0.59 g/t Au over 6.4 meters, respectively.
Doré Copper plans to drill two holes for a total
of 1,300 meters. The first hole will test the potential down plunge
extension of holes V17 and V17A in Zone 1. The second hole will
test another potential ore shoot located approximately 400 meters
to the west.
The Jaculet deposit is defined by two distinct
subparallel shear zones, known as Zone 1 and Zone 2, separated by
approximately 200 meters, where the veins within both zones
typically range from 91 to 137 meters in strike length. Zone 1
extends for approximately 500 meters and has an average strike of
290° with a northerly dip ranging from 55° to near vertical.
Mineralization in Zone 1 consists of chalcopyrite and minor pyrite
within the sheared and altered gabbroic anorthosite. Zone 2 extends
for approximately 670 meters in length and is oriented at 80° north
dipping 80-85° to the south. Mineralization consists of stringers
of pyrite with erratic lenses of chalcopyrite associated with
siderite, sericite and chloritoid.
Cedar Bay Southwest Zone
Extension (Figure 3)
The Southwest Zone, located 300 meters southwest
of the Cedar Bay Main Zone, was partially developed by Campbell
Chibougamau Mines Limited up to the 200-meter (650-feet) level,
right at the property limit with Patino Mining. The potential
extension of the Cedar Bay Southwest Zone along strike to the
southeast was never tested by Patino Mining and subsequent
companies that controlled that ground. In total, approximately 800
meters of strike length have not been tested up to the Lac Doré
Fault.
Doré Copper plans to drill two holes from the
same pad for a total of 1,500 meters to test the potential
southeast extension of the Cedar Bay Southwest Zone.
The Cedar Bay mine operated from 1958 to 1990
and produced 3.9 million tonnes grading 1.56% Cu and 3.22 g/t Au1.
The ore from the mine was processed at the Copper Rand mill located
5 kilometers by road. The deposit was mined to a depth of 670.5
meters and the existing shaft extends to a depth of 1,036 meters.
Doré Copper, while private, completed four holes (including wedges)
totaling 4,842 meters in 2018 and reported an Indicated resource of
130,000 tonnes at 9.44 g/t Au and 1.55% Cu, and an Inferred
resource of 230,000 tonnes at 8.32 g/t Au and 2.13% Cu (effective
date of December 31, 2018)2. During 2020, the Corporation completed
9,025 meters of drilling and successfully extended a number of
mineralized lenses (the 10-20A and 10-20B).
Figure 1. Plan View of Copper Rand
Property Showing the Jaculet and Cedar Bay SW Targets
Figure 2. Plan View and Long Section
Showing the Jaculet Target
Figure 3. Plan View and Long Section
Showing the Cedar Bay Southwest Zone Extension
Qualified Person
Sylvain Lépine, M.Sc, P.Geo, MBA, 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 mill2. 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 gold3. 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
- Sources for historic production
figures: Lacroix, S., Doyon, M., Perreault, S., Nantel, S.,
Gaudreau, R., Dussault, C.,and Morin, R., 1997, Rapport des
géologues résidents sur l’activité minière régionale en 1996:
Ministère des Ressources naturelles du Québec Report DV97-01, 102
p.
- 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
completing a feasibility study.
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
at:
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