Doré Copper Mining Corp. (the "
Company" or
"
Doré Copper") (TSXV: DCMC; OTCQB: DRCMF; FRA:
DCM) completed two drill holes totaling 1,392 meters which
successfully extended the Southwest Zone of the former Cedar Bay
copper-gold mine located in the Chibougamau mining camp,
approximately 5 kilometers by road from its Copper Rand mill.
The Southwest Zone is located 300 meters to the
southwest of the Cedar Bay mine Main Zone and was partially
developed in late 1960s by Campbell Chibougamau Mines Limited
(“Campbell”) on two levels (114 meters and 200 meters) right to the
property limit with Patino Mining. The best results of Campbell’s
drilling campaign in the Southwest Zone included 5.2 meters of
2.56% Cu and 3.9 meters of 2.22% Cu and 1.3 g/t Au1. 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
1,080 meters of strike length had not been tested up to the Lac
Doré Fault.
The two drill holes completed by Doré Copper
targeting the Southwest Zone to the southeast intersected two zones
of copper mineralization within strong ductile shear zones with
intense hydrothermal alteration. Hole CDR-24-09 intersected 1.6
meters of 1.06% Cu and 20.7 g/t Ag, including 0.6 meter of 2.82%
Cu, 54.8 g/t Ag and 0.33 g/t Au, at a vertical depth of 414 meters.
The mineralized intersection is characterized by strong pervasive
carbonate-chlorite-sericite alteration with banded semi-massive
chalcopyrite and pyrrhotite associated with quartz veinlets. Hole
CDR-24-10 intersected a wide shear structure of +130 meters (true
width) characterized by pervasive black chlorite and carbonate
veining alteration starting at a vertical depth of 449 meters.
Copper mineralization was intersected at a vertical depth of 541
meters with 0.40 meter of 1.70% Cu and 2.03 g/t Au, characterized
by chalcopyrite disseminations and blebs in a discontinuous massive
iron oxide band. The strong alteration footprint intersected in
hole CDR-24-10 in the anorthosite to gabbroic rocks is
characteristic of the Doré Lake Complex magmatic-hydrothermal
system and is interpreted to be an indicator of proximity to
mineralized ore bodies of the Cu-Au central mining camp.
The Company plans to conduct downhole geophysics
to locate stronger conductors near and along the structure as the
first hole may not have crossed it. The strong alteration footprint
intersected in the second hole is promising as it indicates
approximately 400 meters of strike length untested towards the Doré
Lake Fault.
Doré Copper received a grant from the Government
of Québec of approximately C$182,000 towards the drilling program
and geometallurgical characterization. The grant has been offered
under the Mineral Exploration Support Program for Critical and
Strategic Minerals (Programme de soutien à l’exploration minière
pour les minéraux critiques et stratégiques 2021-2024 or PSEM-MCS),
which is overseen by the Ministry of Natural Resources and Forests
(Ministère des Ressources naturelles et des Forêts or MRNF).
Ernest Mast, President and CEO of Doré Copper,
commented, “We have confirmed the extension of the Cedar Bay
Southwest structure towards the Lac Doré fault in two drill holes,
including 1.6 meters of 1.06% Cu and 20.7 g/t Ag. We are very
excited by the strong alteration in a wide shear zone
characteristic of the large copper-gold ore bodies in the camp,
including Doré Copper’s Copper Rand and Cedar Bay mines. The next
step is to conduct a downhole geophysical survey (pulse EM) to
identify the potential for larger mineralized zones along the
structure followed by additional drilling. We would also like to
thank the Government of Québec for exploration grant and their
support to develop the critical and strategic minerals industry
within the province.”
Cedar Bay Mine
The Cedar Bay mine operated from 1958 to 1990
and produced 3.9 million tonnes grading 1.56% Cu and 3.22 g/t Au2.
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 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)3. During 2020, the
Corporation completed 9,025 meters of drilling and successfully
extended a number of mineralized lenses (the 10-20A and
10-20B).
Table 1. Assays Highlights from the 2024
Drill Program at Cedar Bay SW Extension
Hole |
Azimuth/Dip |
From(m) |
To(m) |
Width1(m) |
Au(g/t) |
Ag(g/t) |
Cu(%) |
Zone |
CDR-24-09 |
227°/47° |
97.0 |
97.7 |
0.70 |
1.95 |
9.90 |
0.22 |
unknown |
|
|
200.4 |
201.0 |
0.60 |
1.42 |
2.10 |
0.11 |
unknown |
|
|
575.3 |
576.9 |
1.60 |
0.12 |
20.68 |
1.06 |
SW1 |
Including |
|
575.7 |
576.3 |
0.60 |
0.33 |
54.80 |
2.82 |
SW1 |
CDR-24-10 |
190°/47° |
757.2 |
757.6 |
0.40 |
2.03 |
1.50 |
1.70 |
SW2 |
|
|
762.0 |
762.7 |
0.70 |
1.27 |
0.35 |
0.16 |
unknown |
- The true width of the structures
intersected is estimated at approximately 65-80% of the downhole
width for Cedar Bay SW Extension.
Figure 1. Plan View of Copper Rand
Property Showing the Cedar Bay SW Target
Figure 2. Plan View and Long Section
Showing the Cedar Bay Southwest Zone Extension
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 (HQ size half core) preparation and fire
assay analysis were done at ALS Canada Ltd. (“ALS”) in Val-d’Or,
Québec, and ICP multi-elements analysis was done at ALS in
Vancouver, B.C. Samples were weighed, dried, crushed to 70% passing
2 mm, split to 250 g, and pulverized to 85% passing 75
microns. Samples are fire assayed for gold (Au) (50 g) and
Aqua Regia ICP-AES finish for key elements (Ag, Cu, Mo). Samples
assaying >10.0 g/t Au are re-analyzed with a gravimetric finish
using a 50 g charge.
QA/QC is done in house by Doré Copper geologists
with oversight from the Senior Geologist. 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.
Youssouf Ahmadou, M.Sc., P.Geo., Senior
Exploration Geologist of the Company and a QP within the meaning of
National Instrument 43-101 – Standards of Disclosure for Mineral
Projects, has reviewed and approved the scientific and technical
information contained in this news release.
The Qualified Person ("QP") for the Company has
not verified the historical sample analytical data disclosed within
this release. While the Company has obtained all historic records
including analytical data from the previous owners of the Property
and from various government databases, the Company has not
independently verified the results of the historic sampling.
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 mill3. The Company has delivered its
PEA in May 2022 and is proceeding with a feasibility study.
The Company 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-kilometre radius of the Company'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
- Reference: Bunkhouse zone (Cedar
Bay SW) Longitudinal section (Campbell Chibougamau Mines Ltd
1976).
- 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).
- 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. 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.
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. All statements
other than statements of historical fact included in this news
release, including, without limitation, statements with respect to
the timing and ability of the Company to receive necessary
regulatory approvals, the Company's ability to meet its production
target, the commencement, timing and completion of a feasibility
study, and the plans, operations and prospects of the Company 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
Company with securities regulators. Although the Company 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 Company 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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