TORONTO, Oct. 17, 2023 (GLOBE NEWSWIRE) — 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.”
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.
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
|KOD-23-05E||No significant mineralization.||KOD Zone C|
|KOD-23-06||278.30||280.00||1.70||0.38||3.70||0.14||KOD Zone A|
- 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: firstname.lastname@example.org||Email: email@example.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.
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