TORONTO, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Doré Copper Mining Corp. (the "Corporation" or "Doré Copper") (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) provides an update on its project activities located near Chibougamau, Québec.
Exploration Activities
During Q2 2023, the Doré Copper geology team focused on data compilation and interpretation for the Gwillim and Jaculet projects. A drilling program of 1,557 meters was completed in July 2023.
Gwillim
During Q4 2022, Doré Copper completed two drill holes (KOD-22-04 and 05) totaling 1,342 meters at the KOD Zone in the western part of the Gwillim property, which is under a 50/50 joint venture with Argonaut Gold through its wholly owned subsidiary Prodigy Gold with Doré being the operator.
Doré Copper reported the results from the first hole on May 29, 2023. KOD-22-04 intersected 9.67 g/t Au over 5.3 meters, including 19.46 g/t Au over 2.1 meters, starting at a vertical depth of approximately 580 meters and 11.10 g/t Au over 3.0 meters, which after a new revised interpretation are interpreted as Zone C of the KOD mineralized structure.
Hole KOD-22-05, drilled on the same pad as KOD-22-04 and approximately 60 meters west-southwest of Zone C intersected in KOD-22-04 was determined to have been stopped short of Zone C by approximately 50 meters and was therefore extended in the July drilling program (see below).
In July 2023, Doré Copper completed three holes totaling 957 meters at Gwillim. Hole KOD-22-05 was extended by 90 meters to test Zone C and the other two holes (KOD-23-06 and 07) tested a geophysical anomaly (airborne VTEM™ survey conducted in January 2023), immediately west of the projected down plunge of the near-surface high-grade gold mineralization of Zone C.
Hole KOD-22-05E intersected Zone C from 633 to 654 meters with several specks of gold observed at the beginning of Zone C and mineralization similar to KOD-22-04 Zone C. Hole KOD-23-06 intersected a 1.5 meter interval containing chalcopyrite and sphalerite in stringers. Hole KOD-23-07 intersected the Signal Zone (approximately 250 meters north of the KOD Zone C) characterized by several meters of massive pyrite, pyrrhotite and trace chalcopyrite and KOD Zones A, B and C.
Assays for the three holes are expected in September. The KOD mineralized system remains open along strike to the west and below 600 meters.
Jaculet
Doré Copper completed one drill hole of 600 meters in July 2023 to test the potential down plunge extension of high-grade copper mineralization intersected in two surface historical holes from Chibougamau Jaculet Mines Ltd. in 1956. Historical holes V17 and V17A (wedge from V17 and located approximately 50 meters to the east) intersected Jaculet Zone 1 at a vertical depth of approximately 400 meters 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 1.5 meters of mineralization, mainly chalcopyrite in centrimetric veins, at a downhole depth of 438 metres (Jaculet Zone 1), approximately 12 meters below the interpreted location of the historical intercepts in V17 and V17A. It is now believed that the location of the historical holes is perhaps inaccurate and more to the east, in the area of the underground workings, indicating that the mineralization hit in hole JA-23-01 is at the periphery of the main ore shoot. Assays are pending for hole JA-23-01.
Corner Bay Metallurgical Test Work
During Q4 2022, a spatially diverse composite sample from the Corner Bay core was prepared for additional ore sorting tests at Steinert’s facility in Kentucky, United States, using a XRT sensor (X-ray transmission) and a laser sensor. The composite sample weighted 202 kg and graded 2.20% Cu, and included an 18% external mining dilution from the hanging wall and foot wall of the mineralized interval. The results, announced on April 18, 2023, showed a copper grade increase of 77% (from 2.20% to 3.93%) and copper recoveries in the order of 93.5% with the final reject portion representing 47.5% of the feed mass at a grade of 0.30% Cu. Results were equally positive for gold, silver and molybdenum. Lastly, the arsenic grade of the two pre-concentrates was found to be 12 ppm which leads to a final concentrate with low arsenic levels.
During Q2 2023, a metallurgical test program was started at Base Metallurgical Laboratories in British Columbia. A total of four spatially diverse composites were prepared, including the samples from the Steinert ore sorting tests. The metallurgical test work will include grind size optimization, reagent determination, and grade-recovery curves for copper. Recoveries for gold, silver and molybdenum will also be determined, as well as minor element concentrations in the copper concentrate. The program will also include thickening and filtration testing.
Preliminary results of the metallurgical test work indicate high rougher recoveries of +95% copper with little sensitivity to a grind size between 100 and 180 microns. Complete results are expected in Q3 2023.
Environmental and Social Assessment
In June 2023, Doré Copper received the project directive for the environmental and social assessment of its proposed hub-and-spoke operation from the Quebec Ministry of the Environment, the Fight against Climate Change, Wildlife and Parks (MELCCFP). The project directive is for the development of two underground mines (Corner Bay and Devlin), the rehabilitation of the Copper Rand mill and the use of the existing tailings management facility.
Activities at Copper Rand Mill
During 2022, obsolete electrical cables from the Copper Rand mill were removed as part of the refurbishment program. During Q2 2023, the cables were stripped of their aluminum and rubber sheathing and the copper was sold as #1 copper scrap.
The Corporation project sites and infrastructures were not impacted by the forest fires in northern Quebec. All fires in the Chibougamau area are currently under control. Doré Copper sincerely thanks all involved in mitigating the impacts of the forest fires in northern Quebec and keeping our employees and local communities safe.
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.
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 has 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.
**Please note, as of August 1, the new address for the Corporate office is 130 King St. W., Suite 1900, Toronto, ON M5X 1E3 **
For further information, please contact:
- 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).
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.
