TORONTO, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Doré Copper Mining Corp. (the "Corporation" or "Doré Copper") (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) is pleased to announce the second set of results from its 2022 drilling program of 45,000 meters at its flagship Corner Bay property, located in the Chibougamau mining camp, approximately 40 kilometers by road from Chibougamau, Québec. As of August 10, 2022, Doré Copper has completed 37 holes totaling 36,135 meters and is reporting today the assay results from 14 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.
Main Vein below dyke
Main Vein above dyke
Ernest Mast, President and CEO of Doré Copper, commented, "The second set of assay results from the infill drilling program at Corner Bay continue to confirm the continuity of the copper mineralization. In addition, a representative bulk sample of ¼ core is being shipped to a supplier's facility in the United States for additional ore sorting tests. This is to confirm the sorter performance that was reported in the PEA and to produce material for additional communition, flotation and geochemical testwork."
Corner Bay Drilling Program
The 2022 drilling program 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, six holes intersected the Main Vein above the dyke and the remaining eight holes intersected the Main Vein below the dyke, with three holes intersecting the East Vein with lower grade copper mineralization. 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).
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. Long Section of the Corner Bay Deposit Showing the 2022 Drill Results
Table 1. Corner Bay Recent Drill Assays Highlights from the 2022 Drill Program
|Hole||From (m)||To |
|Width1 (m)||Cu (%)||Au (g/t)||Ag (g/t)||Mo (ppm)||Zone|
|CB-22-65||991.8||993.5||1.7||3.63||0.37||15.3||1,060||MV below dyke|
|1,007.6||1,010.4||2.8||1.42||0.38||6.5||452||MV below dyke|
|CB-22-69||1,027.4||1,030.8||3.4||2.54||0.24||8.6||1,038||MV below dyke|
|CB-22-71||924.0||930.7||6.7||5.41||0.45||29.7||209||MV below dyke|
|CB-22-72||1,070.6||1,073.0||2.4||1.29||0.15||4.5||218||MV below dyke|
|CB-22-73||684.4||685.6||1.2||1.15||0.09||-||-||MV above dyke|
|CB-22-80||987.5||989.4||1.9||1.93||0.22||6.9||403||MV below dyke|
|CB-22-81||593.3||595.1||1.8||0.54||0.14||6.0||111||MV above dyke|
|CB-22-84||658.1||661.1||3.0||3.39||0.22||25.2||419||MV above dyke|
|CB-22-85||981.4||984.5||3.1||1.56||0.20||5.1||549||MV below dyke|
|CB-22-87||554.0||555.5||1.5||1.18||0.2||15.9||887||MV above dyke|
|565.8||568.0||2.2||1.21||0.19||12.0||75||MV above dyke|
|CB-22-88||1,128.0||1,129.6||1.6||1.48||0.09||5.6||359||MV below dyke|
|CB-22-89||704.5||709.1||4.6||2.54||0.12||20.3||346||MV above dyke|
|CB-22-90||1,006.3||1,012.5||6.2||3.10||0.10||10.2||161||MV below dyke|
|CB-22-91||620.9||623.5||2.6||2.35||0.05||15.1||100||MV above dyke|
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 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., 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 Mlbs 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 plans to commence a feasibility study and submit the Preliminary Information Statement of the Environmental and Social Impact Assessment (ESIA) in Q3 2022.
The Corporation has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has 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-kilometre 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: [email protected]||Email: [email protected]|
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; plans to commence a feasibility study and submit the Preliminary Information Statement of the Environmental and Social Impact Assessment (ESIA) in Q3 2022.
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.
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