Doré Copper Mining Corp. (the "
Corporation" or
"
Doré Copper") (TSXV: DCMC; OTCQX: DRCMF; FRA:
DCM) provides an update on its project activities located near
Chibougamau, Québec.
Exploration Activities
During Q2 2023, the Doré Copper geology team
focused on data compilation and interpretation for the Gwillim and
Jaculet projects. A drilling program of 1,557 meters was completed
in July 2023.
GwillimDuring Q4 2022, Doré Copper completed two
drill holes (KOD-22-04 and 05) totaling 1,342 meters at the KOD
Zone in the western part of the Gwillim property, which is under a
50/50 joint venture with Argonaut Gold through its wholly owned
subsidiary Prodigy Gold with Doré being the operator.
Doré Copper reported the results from the first
hole on May 29, 2023. KOD-22-04 intersected 9.67 g/t Au
over 5.3 meters, including 19.46 g/t Au over 2.1
meters, starting at a vertical depth of approximately 580
meters and 11.10 g/t Au over 3.0 meters, which
after a new revised interpretation are interpreted as Zone C of the
KOD mineralized structure.
Hole KOD-22-05, drilled on the same pad as
KOD-22-04 and approximately 60 meters west-southwest of Zone C
intersected in KOD-22-04 was determined to have been stopped short
of Zone C by approximately 50 meters and was therefore extended in
the July drilling program (see below).
In July 2023, Doré Copper completed three holes
totaling 957 meters at Gwillim. Hole KOD-22-05 was extended by 90
meters to test Zone C and the other two holes (KOD-23-06 and 07)
tested a geophysical anomaly (airborne VTEM™ survey conducted in
January 2023), immediately west of the projected down plunge of the
near-surface high-grade gold mineralization of Zone C.
Hole KOD-22-05E intersected Zone C from 633 to
654 meters with several specks of gold observed at the beginning of
Zone C and mineralization similar to KOD-22-04 Zone C. Hole
KOD-23-06 intersected a 1.5 meter interval containing chalcopyrite
and sphalerite in stringers. Hole KOD-23-07 intersected the Signal
Zone (approximately 250 meters north of the KOD Zone C)
characterized by several meters of massive pyrite, pyrrhotite and
trace chalcopyrite and KOD Zones A, B and C.
Assays for the three holes are expected in
September. The KOD mineralized system remains open along strike to
the west and below 600 meters.
JaculetDoré Copper completed one drill hole of
600 meters in July 2023 to test the potential down plunge extension
of high-grade copper mineralization intersected in two surface
historical holes from Chibougamau Jaculet Mines Ltd. in 1956.
Historical holes V17 and V17A (wedge from V17 and located
approximately 50 meters to the east) intersected Jaculet Zone 1 at
a vertical depth of approximately 400 meters with 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 (refer to May 3,
2023 news release).
Hole JA-23-01 intersected 1.5 meters of
mineralization, mainly chalcopyrite in centrimetric veins, at a
downhole depth of 438 metres (Jaculet Zone 1), approximately 12
meters below the interpreted location of the historical intercepts
in V17 and V17A. It is now believed that the location of the
historical holes is perhaps inaccurate and more to the east, in the
area of the underground workings, indicating that the
mineralization hit in hole JA-23-01 is at the periphery of the main
ore shoot. Assays are pending for hole JA-23-01.
Corner Bay Metallurgical Test
Work
During Q4 2022, a spatially diverse composite
sample from the Corner Bay core was prepared for additional ore
sorting tests at Steinert’s facility in Kentucky, United States,
using a XRT sensor (X-ray transmission) and a laser sensor. The
composite sample weighted 202 kg and graded 2.20% Cu, and included
an 18% external mining dilution from the hanging wall and foot wall
of the mineralized interval. The results, announced on April 18,
2023, showed a copper grade increase of 77% (from 2.20% to
3.93%) and copper recoveries in the order of
93.5% with the final reject portion representing
47.5% of the feed mass at a grade of 0.30% Cu. Results were equally
positive for gold, silver and molybdenum. Lastly, the arsenic grade
of the two pre-concentrates was found to be 12 ppm which leads to a
final concentrate with low arsenic levels.
During Q2 2023, a metallurgical test program was
started at Base Metallurgical Laboratories in British Columbia. A
total of four spatially diverse composites were prepared, including
the samples from the Steinert ore sorting tests. The metallurgical
test work will include grind size optimization, reagent
determination, and grade-recovery curves for copper. Recoveries for
gold, silver and molybdenum will also be determined, as well as
minor element concentrations in the copper concentrate. The program
will also include thickening and filtration testing.
Preliminary results of the metallurgical test
work indicate high rougher recoveries of +95% copper with little
sensitivity to a grind size between 100 and 180 microns. Complete
results are expected in Q3 2023.
Environmental and Social
Assessment
In June 2023, Doré Copper received the project
directive for the environmental and social assessment of its
proposed hub-and-spoke operation from the Quebec Ministry of the
Environment, the Fight against Climate Change, Wildlife and Parks
(MELCCFP). The project directive is for the development of two
underground mines (Corner Bay and Devlin), the rehabilitation of
the Copper Rand mill and the use of the existing tailings
management facility.
Activities at Copper Rand
Mill
During 2022, obsolete electrical cables from the
Copper Rand mill were removed as part of the refurbishment program.
During Q2 2023, the cables were stripped of their aluminum and
rubber sheathing and the copper was sold as #1 copper scrap.
The Corporation project sites and
infrastructures were not impacted by the forest fires in northern
Quebec. All fires in the Chibougamau area are currently under
control. Doré Copper sincerely thanks all involved in mitigating
the impacts of the forest fires in northern Quebec and keeping our
employees and local communities safe.
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 (half core) preparation was done at ALS
Canada Ltd. (“ALS”) in Val-d’Or, Québec, and the fire assay and ICP
analysis was done at ALS in Vancouver, B.C. Samples were weighed,
dried, crushed to 75% passing 2 mm, split to 250 g, and
pulverized to 85% passing 75 microns. Samples are fire assayed for
gold (Au) (50 g) and sodium peroxide fusion ICP-MS finish for
34 elements. Samples assaying >10.0 g/t Au are re-analyzed with
a gravimetric finish using a 50 g charge. If visible gold is
observed in the sample, the assay is performed by metallic
screening whereby the entire sample is crushed, a 1 kg portion is
pulverized and screened to 106 µm and analyzed by 50 g fire assay
with gravimetric finish.
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 taken on half split core) that were inserted
into the sample batches are verified against their certified values
and are deemed a pass if they are within 3 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, 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 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.
**Please note, as of August 1,
the new address for the Corporate office is 130 King St. W., Suite
1900, Toronto, ON M5X 1E3 **
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 Mining |
Twitter: @DoreCopper |
LinkedIn: Doré Copper Mining Corp. |
Instagram: @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
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.
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