Doré Copper Mining Corp. (the "
Corporation" or
"
Doré Copper") (TSXV: DCMC; OTCQX: DRCMF; FRA:
DCM) announces results from its drilling campaign of 1,557 meters
completed in July 2023 at the Gwillim and Jaculet projects, both
located near Chibougamau, Québec.
Ernest Mast, President and CEO of Doré Copper,
commented, “Our summer drilling program at Gwillim has shown the
potential of the Signal Zone, another high-grade mineralized zone
to the north of the KOD Zones. The geological model for Gwillim
continues to advance and further work is warranted to test the
potential of these high-grade zones and to identify additional gold
mineralized structures.”
Gwillim
In July 2023, Doré Copper completed three holes
totaling 957 meters at Gwillim. Hole KOD-22-05 was extended by 90
meters to test KOD Zone C and the other two holes (KOD-23-06 and
07) tested a geophysical anomaly (airborne VTEM™ survey conducted
in January 2023), located immediately west of the KOD zone (refer
to August 1, 2023 news release).
Hole KOD-22-05E intersected KOD Zone C from 633
to 654 meters with anomalous gold values in several decimetric
zones containing variable amounts of pyrite, pyrrhotite and
chalcopyrite.
Hole KOD-23-06 intersected a 1.7 meter interval
(interpreted as KOD Zone A) containing stringers of chalcopyrite
and sphalerite with a highly chloritized basalt. No significant
gold mineralization was reported.
Hole KOD-23-07 intersected the Signal Zone at a
downhole depth of 15.5 metres with an intercept of 4.4 g/t
Au over 9.8 meters, including 16.51 g/t Au over 2.3
meters, characterized by decimetric bands of massive
pyrrhotite, pyrite and traces chalcopyrite. Results from a downhole
geophysical survey completed in the hole shows an off-hole anomaly
located approximately 100 meters down and west of this gold
intercept. The KOD Zone envelope (Zones A, B1, B2, and C) was
intersected from 358.5 to 462.3 meters, characterized by several
intervals containing pyrite, pyrrhotite and chalcopyrite within the
pillow rims (typical of the KOD Zone). No significant gold
mineralization was reported.
The Signal Zone has been historically traced
over a strike length of 600 meters and is approximately 200 meters
north of the KOD Zone C. In the late 1980s, approximately 2,357
meters in 27 holes tested the Signal Zone. In addition, a number of
historical holes were drilled from underground intercepting both
the Signal and KOD Zones.The best historical gold intersections
from the surface program (see reference 3) included: 7.1 g/t Au
over 2.6 meters (SZ-87-6), 34.96 g/t Au over 1.37 meters
(SZ-87-10), and 22.9 g/t Au over 1.2 meters (GL-41). Dore Copper
hole KOD-21-02 had also intersected the Signal Zone with
3.33 g/t Au over 13.3 metres at a downhole depth
of 28.0 meters. A compilation of this historical work is currently
underway.
The KOD mineralized system remains open along
strike to the east and below 600 meters. The Signal zone for its
part remains open below 230 meters.
The Gwillim property is under a 50/50 joint
venture with Argonaut Gold through its wholly-owned subsidiary
Prodigy Gold with Doré Copper being the operator.
Jaculet
Doré Copper completed one drill hole of 600
meters in July 2023, which tested the strike extension of Jaculet
Zone 1, approximately 100 meters to the west of a previously mined
out area and two high-grade copper intercepts in two historical
holes, at a vertical depth of approximately 400 meters. The two
surface historical holes from Chibougamau Jaculet Mines Ltd. in
1956 had intersected 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 2.29% Cu and
0.36 g/t Au over 1.5 meters, mainly chalcopyrite in
centrimetric veins at a downhole depth of 438 meters (Jaculet Zone
1). It is now interpreted that the mineralization in hole JA-23-01
is at the periphery of the main Jaculet Zone 1 ore shoot. The
deposit remains open below 400 meters.
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.
Table 1. Assays Highlights from the 2023
Drill Program
Hole |
From(m) |
To(m) |
Width1(m) |
Au(g/t) |
Ag(g/t) |
Cu(%) |
Zone |
Gwillim |
KOD-23-05E |
No significant mineralization. |
KOD Zone C |
KOD-23-06 |
12.40 |
12.80 |
0.40 |
1.51 |
1.40 |
- |
Signal |
|
148.00 |
148.70 |
0.70 |
1.45 |
4.10 |
- |
Unknown |
KOD-23-06 |
278.30 |
280.00 |
1.70 |
0.38 |
3.70 |
0.14 |
KOD Zone A |
including |
278.75 |
279.13 |
0.38 |
1.19 |
4.90 |
0.30 |
“ |
KOD-23-07 |
15.00 |
24.80 |
9.80 |
4.41 |
2.11 |
- |
Signal |
including |
15.00 |
17.30 |
2.30 |
16.51 |
5.34 |
- |
“ |
including |
15.90 |
16.90 |
1.00 |
36.10 |
11.20 |
- |
“ |
|
133.50 |
135.00 |
1.50 |
1.24 |
1.90 |
- |
Unknown |
|
226.50 |
228.00 |
1.50 |
1.23 |
14.00 |
- |
Unknown |
Jaculet |
JA-23-01 |
426.70 |
427.10 |
0.40 |
0.19 |
4.90 |
1.10 |
Unknown |
|
438.00 |
439.50 |
1.50 |
0.36 |
8.43 |
2.29 |
Zone 1 |
|
445.70 |
446.20 |
0.50 |
0.34 |
6.50 |
1.21 |
Unknown |
- The true width of the structures
intersected is estimated at approximately 60-80% of the downhole
width for Gwillim, and approximately 75-90% of the downhole width
for Jaculet.
Figure 1. Gwillim Property – Plan View of
2023 Drill Program
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
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.
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).
- Report titled “Report on Diamond
Drilling Signal Zone, Gwillim Lake Property, McKenzie Township,
Quebec” dated January 1988, prepared by Jerry Zuiderveen, Geologist
for Flanagan McAdam & Company.
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.
A photo accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/83076e81-8b17-4935-b7a6-b7f5d3e333c4
Dore Copper Mining (TSXV:DCMC)
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