TORONTO, Jan. 19, 2022 (GLOBE NEWSWIRE) — Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) is pleased to announce additional results from its 2021 drilling campaign at its flagship Corner Bay property, located in the Chibougamau mining camp, approximately 40 kilometers by road from Chibougamau, Québec.
In 2021, Doré Copper completed 43 holes (including wedge holes) totaling 41,063 meters and is reporting today the results from 13 holes. The assay results for the remaining 11 holes are pending. Prior results were incorporated into the Mineral Resource Estimate announced on October 6, 2021.
These latest drill results have further expanded the deposit in three areas and will be incorporated, with other pending results, into an updated Mineral Resource estimate of the Corner Bay deposit for the preliminary economic assessment (“PEA”) anticipated at the end of the first quarter of 2022.
Main Vein below dyke (Figure 1)
- Main Vein below dyke connected to Lower Deep Lens with five holes, including CB-21-45 with 3.8 meters of 2.97% Cu, 0.45 g/t Au and 4.4 g/t Ag, CB-21-47 with 7.35 meters of 5.08% Cu, 0.27 g/t Au and 8.65 g/t Ag and CB-21-49 with 7.1 meters of 3.24% Cu and 0.23 g/t Au – Two other mineralized holes with assays pending
- Main Vein below dyke further extended at southern end with two holes
Main Vein above dyke (Figure 2)
- CB-21-52: 3.7 meters of 9.41% Cu, 2.84 g/t Au and 36.5 g/t Ag – Extending Main Vein above dyke along strike.
- Results pending for four other mineralized holes that will further expand the zone along strike and at depth
“We are continuing to have success in expanding the Corner Bay deposit. These positive drill results from three different areas of the deposit, as well as pending assays from the remaining of the 2021 drilling program, are expected to further increase the mineral resources that will be reported in the upcoming PEA” stated Ernest Mast, President and CEO of Doré Copper. “The connection of the Main Vein above the dyke with the Lower Deep Lens is very significant. In addition, the intercept in hole CB-21-52 is the highest copper equivalent grade recorded in the history of the deposit. Our 2022 drilling plans include approximately 40,000 meters of infill drilling at Corner Bay to upgrade the Inferred Resource to Indicated Resource for the feasibility study that will commence after the completion of the PEA at the end of Q1 2022.
Corner Bay Drilling Program
The results reported today from the 2021 drilling program have successfully continued to expand the copper-gold mineralization at Corner Bay in three areas of the deposit (Figure 3), bringing the total strike length to over 1,100 metres. Of significance, the intercepts in holes CB-21-44, CB-21-45, CB-21-47, CB-21-49 and CB-21-51 have effectively connected the Main Vein below the dyke to the Lower Deep Lens (Figure 1 and Table 1). Two additional holes with assays pending have intersected copper mineralization. These seven holes cover approximately 200 meters of strike length and 250 meters of vertical depth.
In addition, CB-21-39, CB-21-41 and CB-21-42 have expanded the Main Vein below the dyke to the south by approximately 100 meters (at certain elevations) from the October 2021 Mineral Resource Estimate (Figure 1). The other holes (CB-21-39W1, CB-21-40, CB-21-43 and CB-21-46) drilled at the southern limit of the Main Vein below the dyke did not intersect any significant mineralization and have limited the southern extension of the Main Vein.
Hole CB-21-52 intercepted 3.7 meters of 9.41% Cu, 2.84 g/t Au, 36.5 g/t Ag and 890 ppm Mo (molybdenum) (Figure 2 and Table 1). This hole has expanded the Main Vein above the dyke along strike to the south by approximately 50 meters. This intercept is the highest copper equivalent grade recorded in the history of the deposit.
The Corporation continues to obtain high molybdenum values in the intersections reported e.g. 682 ppm in hole CB-21-45, 582 ppm in hole CB-21-49, and 890 ppm in hole CB-21-52. Over the course of 2022, Doré Copper plans to initiate molybdenum recovery test work as part of the feasibility study.
Figure 1. Long section view of the Corner Bay Main Vein below the dyke (blue horizontal line indicates vertical depth of 880 meters).
Figure 2. Long section view of the Corner Bay Main Vein above the dyke.
Figure 3. Isometric view of the entire Corner Bay deposit. The diorite dyke bisects the deposit – Main Vein above and east of the dyke and Main Vein below and west of the dyke.
Table 1. Corner Bay Property Drill Assays Highlights from the 2021 Drill Program
|CB-21-39||1,175.55||1,177.6||2.05||2.04||0.24||17.1||–||Main Vein below dyke (south)|
|CB-21-39W1||No significant mineralization||Main Vein below dyke (south)|
|CB-21-40||No significant mineralization||Main Vein below dyke (south)|
|CB-21-41||967.6||971.1||3.5||2.66||0.40||16.6||195||Main Vein below dyke (south)|
|CB-21-42||1,045.0||1,048.0||3.0||2.71||0.18||22.3||–||Main Vein below dyke (south)|
|CB-21-43||No significant mineralization||Main Vein below dyke (south)|
|CB-21-44||1,191.6||1,193.75||2.15||2.42||0.46||4.3||322||Between Main Vein and Deep Lens|
|CB-21-45||1,157.2||1,161.0||3.8||2.97||0.45||4.4||682||Between Main Vein and Deep Lens|
|CB-21-46||No significant mineralization||Main Vein below dyke (south)|
|1,230.0||1,237.35||7.35||5.08||0.27||8.6||182||Between Main Vein and Deep Lens|
|1,122.3||1,128.4||7.1||3.24||0.23||–||582||Between Main Vein and Deep Lens|
|1,141.5||1,146.9||5.4||2.24||0.10||–||142||Between Main Vein and Deep Lens|
|CB-21-52||598.9||602.6||3.7||9.41||2.84||36.5||890||Main Vein above dyke|
1. The true width of the structures intersected is estimated at approximately 60-75% of the downhole width
Corner Bay Deposit
In the Mineral Resource estimate of October 6, 2021, the Corner Bay deposit contains an Indicated Resource of 2.66 Mt at 2.68% Cu and 0.26 g/t Au containing 157 million pounds of copper and 22,000 ounces of gold and an Inferred Resource of 4.54 Mt at 3.20% Cu and 0.27 g/t Au containing 320 million pounds of copper and 39,000 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 November 10, 2021)2.
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.
Drilling and Quality Control
The Company is using Miiken Drilling as the drilling contractor. Miiken 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 was done at SGS Canada Inc. in Val-d’Or, Québec, and fire assay and ICP analysis was done at SGS Canada Inc. in Burnaby, B.C. Samples were weighed, dried, crushed to 75% passing 2 mm, split to 250 g, and pulverized to 85% passing 75 microns. Samples were 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 Exploration Manager. 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.
Andrey Rinta, P.Geo., the Exploration Manager 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 a 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 2,700 tonnes per day mill. The Corporation is expected to deliver a PEA at the end of the first quarter of 2022 and then initiate a feasibility study and permit applications.
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 gold1. 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.
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For more information, please visit: www.dorecopper.com
- 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).
- The Technical Report on the Corner Bay-Devlin Property, Northwest Québec, Canada dated November 10, 2021 was prepared by Luke Evans, M.Sc., P.Eng. and Marie-Christine Gosselin, B.Sc., P.Geo., of SLR Consulting (Canada) Ltd., both “Independent Qualified Persons” as defined by NI 43-101.
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, four other mineralized holes in the Main Vein above dyke with assays pending to further expand the zone along strike and at depth; positive drill results from three different areas of the deposit, as well as pending assays from the remaining of the 2021 drilling program, expected to further increase the mineral resources that will be reported in the upcoming PEA; 2022 drilling plans include approximately 40,000 meters of infill drilling at Corner Bay; PEA at the end of Q1 2022; 2022 plans to initiate molybdenum recovery test work as part of the feasibility study; implementing a hub-and spoke operation model; and initiating a feasibility study and permit applications after the PEA.
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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