newsreleases2022 - Doré Copper Mining Corp

Doré Copper announces grant of stock options and deferred share units

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Toronto, OntarioMay 12, 2022 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) has granted 765,000 stock options to management, consultants and advisors. The stock options have an exercise price of $0.59 per share and a term of five years. The Company has also granted an aggregate total of 150,000 deferred share units (“DSU’s”) to the independent directors of the Company. The DSUs are payable in common shares of the Company upon the holder ceasing to be a director of the Company. Both issuances were done in accordance with the Company’s omnibus share incentive plan.

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 mill. The Corporation has delivered its PEA in May 2022 and plans to commence a feasibility study and submit permit applications by mid-year. 

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. 

For further information, please contact:

Ernest Mast 
President and Chief Executive Officer
Phone: (416) 792-2229
Email:  

Laurie Gaborit
VP Investor Relations
Phone: (416) 219-2049
Email: 

For more information, please visit: www.dorecopper.com 

Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

  1. 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).

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.

Doré Copper announces positive Preliminary Economic Assessment for restarting Chibougamau mining camp

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Toronto, Ontario May 10, 2022 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) is pleased to report positive results from its Preliminary Economic Assessment (“PEA“) for the restart of the Chibougamau mining camp. The PEA supports a hub-and-spoke operation with the high-grade Corner Bay copper-gold deposit as its main underground mine along with the Devlin copper deposit and the former Joe Mann gold mine providing feed to its Copper Rand mill (collectively, the ”Project”). The PEA demonstrates attractive project economics with optionality for expansion into a significantly larger operation, re-establishing the Chibougamau mining camp as a long-life copper and gold producer. 

All values in this news release are reported in Canadian dollars (C$) unless otherwise noted.

Doré Copper will be hosting a webinar to review the PEA results on Tuesday, May 10 at 10:00AM EST:

https://us06web.zoom.us/webinar/register/WN_yaoTJLNPTcGccp-PlAceIA

PEA Highlights

  • Attractive project economics: 
    • Base case metal prices of US$3.75/lb Cu and US$1,820/oz Au: 
      Pre-tax NPV8% of C$367 million and 30.7% IRR
      After-tax NPV8% of C$193 million and 22.1% IRR
    • Spot metal prices of US$4.20/lb Cu and US$1,854/oz Au: 
      Pre-tax NPV8% of C$555 million and 40.1% IRR 
      After-tax NPV8% of C$303 million and 29.4% IRR
  • Mine life of 10.5 years: Metal production of 492 Mlbs Cu, 142,000 oz Au 
  • Average cash operating costs of US$1.35/lb CuEq and all-in sustaining costs of US$2.24/lb CuEq 
  • Light capital intensity: Initial capital ofC$180.6 million (including C$24 million contingency), translating to a Tier 1 Capital Intensity Index (initial capital / annual CuEq produced) of US$2.64/lb CuEq or US$0.25/lb CuEq LOM
  • Scalable operation: Mill has 25% excess grinding capacity (over the maximum annual throughput) providing opportunities to add, discover, or acquire other properties in the Chibougamau mining camp 
  • Long life tailings storage option with minimal environmental impact: Implementation of dry stack tailings and ore sorting technology provides for a maximum capacity of 12 Mt on the existing Copper Rand tailings management facility (“TMF”)  
  • Modernization of the mill and TMF:  PEA study modernizes the existing Copper Rand mill and TMF so that they are productive and cost efficient and minimizes impact on the environment
  • Opportunities for mine life extension: Corner Bay and Joe Mann deposits remain open at depth with strong potential to add additional resources and extend the mine life. Potential for additional mill feed during mine life with the advancement of its exploration projects in Chibougamau mining camp. 

Ernest Mast, President and CEO commented, “The completion of the PEA is a major accomplishment from our team and gets us closer to our near-term objective of restarting the Chibougamau mining camp. This achievement has come with the excellent exploration results from Corner Bay over the last few years where we have been able to significantly grow the mineral resources. The PEA represents today’s status of the projects but we envision scaled expansions and future growth at both Corner Bay and Joe Mann while eventually sequencing in other deposits across our large land package in the Chibougamau mining camp.  With three projects in the PEA, the average annual production over the mine life is approximately 50 Mlbs of copper equivalent, with a high of 90 Mlbs of copper equivalent. Our vision is to operate a viable sustainable hub-and-spoke operation over multi-decades to become a significant copper producer in Québec.” 

“Our next steps include commencing a feasibility study and submitting permit application with the provincial government. We look forward to working with Ouje-Bougoumou Cree Nation and the towns of Chibougamau and Chapais with the support of the government to advance the restart of the Chibougamau mining camp.”  

PEA Study Approach

The PEA envisions a hub-and-spoke model operation starting first with the underground development of the Devlin deposit via a ramp and secondly with the underground development of the Corner Bay deposit (main asset) via a ramp. Once the Devlin deposit is mined out (approximately 4 years), production at the Joe Mann mine would start and be funded out of cash flow from operations. Joe Mann benefits from an existing headframe and shaft, including all surface infrastructures. 

A fixed crushing circuit and ore sorter plant (XRT) would be installed at Corner Bay and would reject the low-grade and dilution material from the Devlin and Corner Bay mines. The high-grade material would be transported by trucks to the refurbished and optimized Copper Rand mill. The filtered tailings would be transported to a dry stack tailings facility, which uses part of the footprint at the existing TMF.

The copper and gold concentrate produced would be transported to the port of Québec City for onward shipping to international smelters, or to a local smelter. Ocean Partners Ltd. has the off-take agreement (treatment and refining charges terms are within standard market rates).

Table 1: PEA Summary of Key Metrics 

DescriptionUnitBase Case1 24-month Trailing AvgSpot Prices May  9, 2022
Metal Prices/FX


Copper (Cu)US$/lb3.754.20
Gold (Au)US$/oz1,8201,854
Currency Exchange RateUSD/CAD1.281.30
Production Data


Resource TonnesT9,150,7109,150,710
Copper Equiv. Grade%2.982.98
Daily Mill ThroughputTpd1,3501,350
Annual Processing RateKtpa490490
Mine LifeYears10.510.5
Avg Annual Production (in concentrate) Mlbs CuEq5353
Operating Costs (LOM avg)


Total Operating Costs2C$/t mined106106

C$/t milled186186
All-in Sustaining Costs3,4US$/lb CuEq2.242.24
Capital Costs5


Initial CapitalC$M180.6180.6
LOM Sustaining CapexC$M402.4402.4
Financial Analysis (unlevered)


Pre-Tax NPV 8%C$M367555
Pre-Tax IRR%30.740.1
After-Tax NPV 8%C$M193303
After-Tax IRR%22.129.4
Payback Period (Production Start)years5.54.2
  1. Base case metal prices based on 24-month trailing average from March 31, 2022.
  2. Total operating costs include mining, processing, tailings, surface infrastructures, transport, and G&A costs. See Table 3.
  3. AISC includes cash operating costs, sustaining capital expenses to support the on-going operations, concentrate transport and treatment charges, royalties and closure and rehabilitation costs divided by copper equivalent pounds produced. See Table 3.
  4. AISC is a non-IFRS financial performance measures with no standardized definition under IFRS. Refer to note at end of this news release.
  5. See Table 2.

Capital Cost  

The PEA for the Project outlines an initial (pre-production) capital cost estimate of C$180.6 million and sustaining capital costs over the life of mine (“LOM”) of C$402.4 million, which includes the capital to restart Joe Mann and overall closure costs of C$53.6 million. Initial underground capital costs include the rehabilitation of the portals at Corner Bay and Devlin, facilities for water capture and treatment at both locations, construction of a powerline (16 km, 34 kV powerline to Corner Bay, and 3.25 km, 34 kV powerline to Devlin), a crushing circuit and ore  sorter at Corner Bay, improvements to existing roads and 4 km of new roads connecting Corner Bay and Devlin, a new feed material reception and mill feed conveyor, ball milling and gravity circuit, rehabilitated flotation and concentrate filtration circuit and new tailings filtration circuit at the mill, and preparation of an area on the existing TMF for the placement of filtered tailings and a water treatment facility.

Table 2: Capex Estimates 

Cost ElementInitial Capital (C$M)1Sustaining Capital (C$M)1,3
Mine Costs
  Corner Bay14.8247.3
  Devlin7.00.4
  Joe Mann20.051.9
Processing (including Ore Sorting)54.21.1
Infrastructure34.515.5
Tailings 13.816.7
EPCM and Indirect Costs422.85.5
Owner’s Costs49.93.1
Subtotal Capex$157.1$341.6
Contingency523.67.2
Reclamation and Closure0.053.6
Total Capex$180.6$402.4
  1. All values stated are undiscounted. No inflation or depreciation of costs were applied.
  2. Contingency, owner’s costs, EPCM and indirect costs on Joe Mann’s initial capital also included in the sustaining capital.
  3. Sustaining capital does not include salvage values, estimated at C$17 M for all sites.
  4. Includes owner’s costs of 8%, construction indirects of 10%, and EPCM of 12% for mill and tailings and 4% for mining of direct costs.
  5. Includes contingency of 15% for all initial capital, owner’s costs, construction indirects, and EPCM.

Operating Costs 

Operating costs estimates were developed using first principles methodology, vendor quotes received from Q4 2021 to Q1 2022, and productivities being derived from benchmarking and industry best practices. Over the LOM, the average operating cost for the Project is estimated at C$106/t mined and C$186/t milled.

The average cash operating costs over the LOM is US$1.35/lb CuEq and the average AISC is US$2.24 /lb CuEq.

Table 3: Operating Cost Summary

 Average LOM
MiningC$61/t mined / C$108/t milled
Processing (including Ore Sorting)C$32/t milled
Tailings1C$7/t milled
Infrastructure and Transport G&AC$28/t milled C$12/t milled
Total operating costsC$186/t milled
Cash operating costs 2,4,5US$1.35 /lb CuEq
All-in sustaining costs 3,4,5US$2.24 /lb CuEq
  1. Tailings filtration costs are in processing costs.
  2. Cash operating cost includes mining, processing, tailings, surface infrastructures, transport, and G&A to the point of production of the concentrate at the Copper Rand site divided by copper equivalent pounds produced. It excludes off-site concentrate costs, sustaining capital expenses, closure/rehabilitation and royalties. CuEq calculation assumes metal base case prices.
  3. AISC includes cash operating costs, sustaining capital expenses to support the on-going operations, concentrate transport and treatment charges, royalties and closure and rehabilitation costs divided copper equivalent pounds produced.
  4. Copper equivalent (CuEq) costs uses only payable gold in concentrate and is applied as a credit against costs.
  5. Cash operating cost and AISC are non-IFRS financial performance measures with no standardized definition under IFRS. Refer to note at end of this news release.
  6. Numbers may not add up due to rounding.

Economic Analysis and Sensitivities

The PEA indicates that the potential economic returns from the Project justify its further evaluation by advancing to a feasibility study.

Table 4: Summary of Economic Analysis 1,2

 Base Case
Metal Price Assumptions (US$)$3.75/lb Cu, $1,820/oz Au
Exchange Rate (USD/CAD)1.28

Pre-taxAfter-tax
NPV (8% discount)C$366 MC$193 M
IRR 30.7%22.1%
Payback Period4.2 yrs5.5 yrs
EBITDAC$1,313 MC$1,313 M
LOM Undiscounted Net Cash FlowC$747 MC$455 M
  1. The analysis assumes that the Project is 100% equity financed (unlevered).
  2. Appropriate deductions are applied to the concentrate produced, including treatment, refining, transport and insurance costs.

The Project generates cumulative cash flow of C$455 million on an after-tax basis and C$747 million pre-tax at a base case of $3.75/lb Cu based on an average mill throughput of 1,350 tpd over 10.5 years. The 2% net smelter return (“NSR”) royalty over the Joe Mann mine, and the 15% net operating profits interest (NPI) royalty and the 2% NSR on the gross value of the mineral products exceeding US$60 million over Devlin have been applied to the cash flow model for a total of C$13.3 million undiscounted.

The PEA economic analysis is significantly influenced by copper prices. At spot metal prices of US$4.20/lb Cu and US$1,854/oz Au, the Project generates an after-tax Net Present Value (“NPV”) using an 8% discount rate of $303 million and an after-tax IRR of 29.4% with a payback period of 4.2 years from the commencement of production. Outlined below in Table 5 is a detailed sensitivity analysis across various commodity prices.

Table 5: Sensitivity Analysis

  Base Case Spot
Copper Prices (US$/lb)3.403.754.104.20
Gold Prices (US$/oz)1,6501,8201,8201,854
Pre-tax NPV (8% discount) (C$M)228367494555
After-tax NPV (8% discount) (C$M)107193269303
Pre-tax IRR (%)23.230.737.240.1
After-tax IRR (%)16.1 22.127.229.4

Opportunities 

  • Add Corner Bay’s silver and molybdenum content (currently excluded for mineral resources)
  • Potential to extend mine life by expanding mineral resources at both Corner Bay and Joe Mann once operation starts 
  • Surplus grinding capacity at the Copper Rand mill
  • Underpins potential for low-cost organic production growth (other nearby assets, including Cedar Bay and Copper Rand) to be evaluated during LOM)
  • Potential to increase Corner Bay and Devlin concentrate grades which would decrease treatment charges and shipping costs
  • Potential labour cost savings by self-performance for various mill rehabilitation activities
  • Potential to install a 25 kV line from the Québec grid to Corner Bay (PEA design has a 34 kV line)
  • Potential for a carbon neutral operation with PEA design to utilize power from the Québec grid, minimizing trucked material with ore sorting technology and implementing trolley-assist hauling technology at the Corner Bay mine site. In the feasibility study, the Corporation will attempt to be carbon neutral by the end of Devlin’s mine life (approximately 4 years).

Mineral Resources 

The basis for the PEA uses an updated mineral resource estimate for the Corner Bay deposit (effective date March 30, 2022) and previously published MRE for Devlin and Joe Mann, respectively October and July 2021, restated with an updated effective date of March 30, 2022. The PEA reports on mineral resources, not mineral reserves.

Table 6: Mineral Resource Estimates

DepositCategoryTonnageGradeContained


000 tonnes% Cug/t AuM lbs Cu000 oz Au
Corner BayIndicated2,6752.660.2615722

Inferred5,8293.440.2744251
DevlinMeasured 1212.740.297.31

Indicated6542.060.1929.74

Measured & Indicated
7752.170.2037.05

Inferred4841.790.1719.23
Joe MannInferred6080.246.783.3133
TotalMeasured & Indicated3,4502.550.25194.027
TotalInferred6,9213.040.83464.5187
Notes: 
  1. CIM (2014) definitions were followed for Mineral Resources.
  2. The effective date of the Mineral Resources is March 30, 2022.
  3. Mineral Resources are estimated using an exchange rate of US$0.75/C$1.00.
  4. Mineral Resources at Joe Mann are estimated using a long-term gold price of US$1,800/oz Au, and a metallurgical gold recovery of 83%. Mineral Resources at Corner Bay and Devlin are estimated using a long-term copper price of US$3.75/lb, and a metallurgical copper recovery of 95%.
  5. Mineral Resources are estimated at a cut-off grade of 2.60 g/t Au at Joe Mann, 1.3% Cu at Corner Bay and 1.2% Cu at Devlin.
  6. A minimum mining width of 1.2 m was used at Joe Mann and a small number of lower grade blocks have been included for continuity. A minimum mining width of 2.0 m was used at Corner Bay, and a minimum height of 1.8 m was applied at Devlin.
  7. Bulk density ranges by deposit and vein from 2.84 t/m3 to 3.1 t/m3.
  8. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. 
  9. Numbers may not add up due to rounding.

Mining 

Projected mined tonnes from the Project (Corner Bay, Devlin and Joe Mann) are expected to total 9.15 Mt, ramping up to a maximum capacity of 3,000 tpd over a mine life of 10.5 years.

Figure 1: Annual Mining Rates (tpd)

Corner Bay Mine

Underground mining at Corner Bay would use the existing single portal and two kilometers of development to three levels down to 115 meters. The development would extend the decline ramps to a depth of 1,326 meters. Most of the material would be mined by longhole open stoping with pillars then backfilled and AVOCA, a longitudinal longhole retreat mining method. A fleet of nine battery electric haul trucks with trolley assist and six loaders would be required at maximum capacity. Trade off studies were completed to evaluate between a shaft, 42 tonne battery electric trucks with BaaS (Battery as a Service) technology and 50 tonne diesel trucks and it was concluded that the use of 42 tonne battery electric trucks was the best economic option. In addition, the electric truck technology will provide benefits related to less ventilation requirements, better air quality and lower diesel consumption. 

The mined material would be transported to surface and crushed at site with an integrated XRT (X-ray transmission) ore sorting circuit. Test work on material selected from the development mineralized material stockpiled at surface, which was extracted during the preparation of the 2008 bulk sample, indicated that the average grade of the mineralized material is upgraded 1.54 times and 47% of the crushed mined material would be rejected. The high-grade material pre-concentrate would be transported by trucks to the Copper Rand mill located approximately 47 km from the mine site.  

Total projected mined tonnes from Corner Bay are expected to be 7.60 Mt ramping up to a maximum capacity of 2,600 tpd over a mine life of 10.5 years.

Devlin Mine

Access to the shallow Devlin deposit would require the enlargement of the existing decline ramp (305 meters) and existing drifts (364 meters). Underground mining would use a combination of room and pillar and drift and fill mining methods. Devlin will produce 951,000 tonnes of material over a mine life of four years and reach a maximum mining rate of 760 tpd. Mining and surface activities at Devlin will be done by a contractor. 

The mined tonnes would be trucked 15.6 km to the Corner Bay site for crushing and sorting in combination with the Corner Bay mined tonnes. With the mineralized material having a thickness of 1 to 2 meters and the wall rock being essentially barren, ore sorting technology is expected to work well. Preliminary test work on core from drilling simulating a 2.3 meter mining height resulted in upgrading the grade by 65% and rejecting 40% of the material.  

Joe Mann Mine

As the Devlin mine become depleted, the Joe Mann mine would be restarted. Once the mine would be dewatered, the Corporation would start an underground exploration program with the objective of augmenting the mineral resources to increase the mine life beyond the PEA study.  

Longhole mining method was chosen for Joe Mann with the mined material to be brought to surface using the existing shaft and hoist. The mined material would be transported by trucks to the Corner Bay site (total of 43.5 km) for crushing and then transported by trucks to the Copper Rand mill for processing.

In the PEA, the Joe Mann mine has a mine life of four years with maximum production of 590 tpd. It is anticipated that additional mineral resource can be defined to increase mine life.

Metallurgy and Processing

The PEA relies on the metallurgical results of the operational data from the processing of a Corner Bay bulk sample in 2008 at the Copper Rand mill, historical flotation tests done on Corner Bay mineralized material, recent material sorting test results completed by Corem on Corner Bay and Devlin mineralized material, recent flotation tests on Devlin completed by SGS Canada Inc., and historical operational data from Joe Mann when it was treated in the Copper Rand mill. The expected metal recoveries for the three proposed mines are shown in Table 7.

Table 7: LOM Recovery Rate

ProjectCu Recovery %Au Recovery, %Cu Grade in Concentrate, %
Corner Bay93.278.024.7
Devlin95.572.520.5
Joe Mann93.983.615.9

The PEA proposes to refurbish the Copper Rand mill, which closed in 2008 after approximately 50 years of operation. The mill was constructed in 1959 and expanded twice in the early 1980s and again in 2001. Historically, the mill operated with a mixture of local ores at an instantaneous rate of 2,700 tpd. 

The existing crushing and conveying circuit at the Copper Rand mill will not be used or upgraded since it is more efficient to install a new crushing circuit and ore sorting plant at Corner Bay. The sorted pre-concentrate will be trucked to the Copper Rand site and stockpiled by the mill building where it will be reclaimed in a hopper and fed via a single conveyor to a new 1,500 kW ball mill (4.0 meters diameter by 7.15 meters long) to be located in the 1984 expansion area of the existing mill. This new ball mill will replace the existing 1950’s rod mill and four ball mills in the circuit. This will result in significantly less project execution risk and a mill that will require less manpower and be superior in terms of energy efficiency, process control and safety. The ball mill discharge will be pumped to a new hydro-cyclone in closed circuit. The hydro-cyclone underflow will flow to a screen and the undersize will feed two gravity concentrators. The hydro-cyclone overflow, at an 80% passing size of 100 µm, will flow by gravity to the existing flotation area where sequential rougher and scavenger flotation will recover the copper. The rougher concentrate treated by regrinding and cleaner flotation will produce a copper concentrate with an average grade of 23.7% Cu over LOM. The gravity gold bearing concentrate will be blended into the copper concentrate. The concentrate is considered very clean as it does not contain any elevated deleterious elements. The moisture content of the concentrate will be reduced to approximately 8% before being transported to the port of Québec City for onward shipping to international smelters, or to a local smelter. 

Figure 2: Annual Copper Equivalent (CuEq) Production (in-concentrate) Schedule

Infrastructure and TMF

The Project benefits greatly from substantial infrastructure in place, including the mill facility, all weather access roads, 25 kV powerline and a 10.5 MW substation sufficient for the mill power requirements, TMF, office building, core shack and water supply.

A 16 km forestry road from Québec Highway 167 will be upgraded and constructed to access the Corner Bay mine site, decreasing the distance between Corner Bay and Copper Rand mill by over 9 km one way. The Devlin mine site will be accessed via a 3.25 km upgraded road branching off from the Corner Bay road. Both mine sites are designed to be compact with required infrastructure near the portal. A substation connected to the Québec grid and a 34 kV powerline will supply power to the Corner Bay and Devlin mines. The Joe Mann mine will utilize the existing logging roads and powerline to site. 

The TMF is located 1.5 km by road from the Copper Rand mill within the existing Copper Rand TMF. The tailings will be thickened and pumped to a newly constructed filtration plant at the mill site. The filtered tailings will then be trucked 1.5 km, placed and compacted to the targeted density. The dry stack tailings facility (filtered tailings) will be built within the footprint of the existing Copper Rand TMF. A liner will be used to separate the filtered tailings from the in-situ tailings. The run-off water from the filtered tailings facility will be treated in a water treatment plant and discharged into the existing Copper Rand TMF polishing pond. Water will flow by gravity from the polishing pond into Lac Doré as it presently occurs. The proposed TMF has capacity to be expanded to approximately 12 Mt of tailings, representing an increase of 7.5 Mt from the current design of 4.5 Mt. 

Workforce

The Project plans to source most of its workforce locally. The peak workforce during operations is estimated at approximately 320 persons. 

Next Steps

Doré Copper is currently completing a 45,000 meter exploration drilling program at Corner Bay, which will be followed by a 5,000 meter exploration drilling program at Devlin. This exploration drilling program is focused on upgrading the Inferred Resource to Indicated Resource for the feasibility study, which is expected to commence during Q3. Doré Copper has engaged Englobe, based in Québec City, to assist the Corporation in submitting a provincial environmental impact study later this year. Baseline work is already underway and community consultation is expected to commence in Q2. 

Technical Report and Qualified Persons 

The PEA was prepared by BBA Inc. (“BBA”) with several consulting firms contributing to sections of the study. BBA Inc., the leading consulting firm for this study, recently completed the refurbishment of Eldorado Gold’s Sigma mill that included upgrading most of the existing mechanical equipment and preparing a detailed commissioning strategy. 

Consulting FirmsArea of Responsibility Qualified Person1
BBA Inc.Mine and plant design, mines capital costs and operating costsPriyadarshi Hem, M.Eng, P.Eng

Infrastructure David Willock P.Eng

Metallurgy, processing and process plant operating costs Patrica Dupuis P.Eng

Process plant and infrastructure capital costMathieu Bélisle, P.Eng

Financial analysisColin Hardie P.Eng (ON), M.Eng, MBA
SLR Consulting (Canada) Ltd.Mineral Resource Estimate  Geological technical information QA/QC review of drilling and sampling dataLuke Evans, M.Sc., P.Eng, ing., Valerie Wilson, M.Sc., P.Geo, and Marie-Christine Gosselin, B.Sc., P.Geo
SRK ConsultingTailings design and water managementJean-François St-Laurent, ing., P.Eng (ON), M.Sc.
WSPEnvironmental studies and permitting Restauration and closureSimon Latulippe, P.Eng
1. The Qualified Persons are independent as defined by Canadian Securities Administrators National Instrument 43-101 (“NI 43-101”) “Standards of Disclosure for Mineral Projects”. The Qualified Persons are not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the PEA.

All scientific and technical data contained in this presentation has been reviewed and approved by Ernest Mast, P.Eng., President and CEO, a Qualified Person for the purposes of NI 43-101. The Qualified Persons mentioned above have reviewed and approved their respective technical information contained in this news release. 

The Company cautions that the results of the PEA are preliminary in nature and include inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them to be classified as mineral reserves. There is no certainty that the results of the PEA will be realized. 

A NI 43-101 technical report supporting the PEA will be filed on SEDAR within 45 days of this news release and will be available at that time on the Corporation’s website. Readers are encouraged to read the Technical Report in its entirety, including all qualifications, assumptions and exclusions that relate to the details summarized in this news release. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context. 

A presentation that summarizes the PEA results of the Project is available on the Corporation website.

Town Hall Webinar 

Ernest Mast, President and CEO of Doré Copper will discuss the results of the PEA at a webinar on Tuesday, May 10, 10:00 AM EST. 

To participate in the Town Hall Webinar, please register here with your full name:

https://us06web.zoom.us/webinar/register/WN_yaoTJLNPTcGccp-PlAceIA

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 mill. The Corporation has delivered its PEA in May 2022 and plans to commence a feasibility study and submit permit applications by mid-year. 

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. 

For further information, please contact:

Ernest Mast 
President and Chief Executive Officer
Phone: (416) 792-2229
Email:  

Laurie Gaborit
VP Investor Relations
Phone: (416) 219-2049
Email: 

For more information, please visit: www.dorecopper.com 

Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

  1. 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).

Information Concerning Estimates of Mineral Resources 

Mineral resources that are not mineral reserves do not have demonstrated economic viability. Therefore, investors are cautioned not to assume that all or any part of an inferred mineral resource could ever be mined economically. It cannot be assumed that all or any part of “measured mineral resources,” “indicated mineral resources,” or “inferred mineral resources” will ever be upgraded to a higher category. The mineral resource estimates contained herein may be subject to legal, political, environmental or other risks that could materially affect the potential development of such mineral resources. Refer to the Technical Report, once filed, for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing. 

Non-IFRS Financial Measures 

Doré Copper has included certain non-IFRS financial measures in this news release, such as capital intensity index, initial capital cost, cash operating cost and AISC per pound of copper equivalent produced, unit operating costs, and EBITDA which are not measures recognized under IFRS and do not have a standardized meaning prescribed by IFRS. As a result, these measures may not be comparable to similar measures reported by other corporations. Each of these measures used are intended to provide additional information to the user and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS.

A description of the significant cost components that make-up the forward-looking non-IFRS financial measures cash operating cost and AISC per pound of copper equivalent produced is shown in the table below.

Cautionary Note to United States Investors 

Doré Copper prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to mineral resources in this news release are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended (“CIM Standards”). The U.S. Securities and Exchange Commission (the “SEC”) has adopted amendments effective February 25, 2019 (the “SEC Modernization Rules”) to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the U.S. Securities Exchange Act of 1934. As a result of the adoption of the SEC Modernization Rules, the SEC will now recognize estimates of “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources”, which are defined in substantially similar terms to the corresponding CIM Standards. In addition, the SEC has amended its definitions of “proven mineral reserves” and “probable mineral reserves” to be substantially similar to the corresponding CIM Standards. 

U.S. investors are cautioned that while the foregoing terms are “substantially similar” to corresponding definitions under the CIM Standards, there are differences in the definitions under the SEC Modernization Rules and the CIM Standards. Accordingly, there is no assurance any mineral resources that Doré Copper may report as “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” under NI 43-101 would be the same had Doré Copper prepared the resource estimates under the standards adopted under the SEC Modernization Rules. In accordance with Canadian securities laws, estimates of “inferred mineral resources” cannot form the basis of feasibility or other economic studies, except in limited circumstances where permitted under 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 the results of the PEA, including the projected production,  operating costs, capital costs, sustaining costs, metal price assumptions, cash flow projections, processing mineralized material, metal recoveries and grades, concentrate grade, mine life projections, production rates at each project, process capacity, mining and processing methods, changes to the existing TMF, proposed PEA production schedule and metal production profile, estimation of mineral resources, estimated NPV and IRR, payback period, sensitivities, opportunities outlined in the PEA, potential to further enhance the economics of the Project, securing the required permits and licenses for further studies to consider operation, PEA demonstrating attractive project economics with optionality for expansion into a significantly larger operation, re-establishing the Chibougamau mining camp as a long-life copper and gold producer, existing mill having 25% excess capacity, PEA study modernizing the existing Copper Rand mill and TMF so that they are productive and cost efficient and minimizing impact on the environment, potential for additional mill feed during mine life with the advancement of the Corporation’s exploration projects in Chibougamau mining camp, operating a viable hub-and spoke operation over multi-decades to become a significant copper producer in Quebec, commencing a feasibility study in Q3, submitting permit application with the provincial government later this year, potential labour cost savings by self-performance for various mill rehabilitation activities, potential for a carbon neutral operation,  Corporation attempting in the feasibility study to be carbon neutral by the end of Devlin’s mine life (approximately 4 years),  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 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.

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.

Doré Copper reports high-grade gold mineralization at Gwillim

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Toronto, OntarioApril 21, 2022 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) announces positive results from two drill holes totaling 819 metres completed in late 2021 on the western part of the Gwillim property, which is under a 50/50 joint venture with Argonaut Gold Inc. (through its wholly owned subsidiary Prodigy Gold Inc.). Gwillim is located approximately 8 kilometers by road northwest of Chibougamau, Québec. 

Drilling Highlights

KOD-21-02

  • 3.33 g/t Au over 13.3 meters, including 26.8 g/t Au over 1.0 metre and 23.2 g/t Au over 0.5 meter 
  • 3.39 g/t Au over 3.0 meters 
  • 10.14 g/t Au over 4.0 meters 

KOD-21-03

  • 3.03 g/t Au over 4.0 meters 
  • 4.64 g/t Au over 6.0 meters, including 11.69 g/t Au over 2.0 meters

Ernest Mast, President and CEO of Doré Copper, commented, “Today’s results on the Gwillim’s KOD zone demonstrate good continuity of the mineralization and have extended its depth to 400 meters vertical. We are in the process of compiling and re-evaluating all the historical data for the Gwillim mine and the KOD zone. Once completed, we and our JV partner Argonaut Gold Inc. will plan a drilling program to test the strike and depth extension of both deposits. On our main deliverable for the year, we expect to have the results of the preliminary economic assessment (PEA) for our hub-and-spoke operation model by mid-Q2 2022.” 

Gwillim Drilling Program 

Doré Copper drilled two holes in September 2021 to test the KOD zone, located 300 meters south of the mined Gwillim Main zone (Figure 1 and Table 1). Hole KOD-21-02 intersected three mineralized zones, including a 13.3 meter zone grading 3.33 g/t starting at a vertical depth of approximately 25 meters and an intercept of 4.0 meters at 10.14 g/t Au, which is interpreted as the KOD zone. Hole KOD-21-03, drilled 100 meters north-northwest of KOD-21-02, intersected two mineralized zones and demonstrated the continuity of the KOD zone at depth (Figure 2). The second mineralized zone, 6.0 meters at 4.64 g/t Au extended the KOD zone vertically by approximately 50 meters from prior historical intercepts (historical drill holes locations are approximate and will be georeferenced in the coming months) and is the deepest intersection to date at a vertical depth of 400 meters. 

Gwillim Property 

The Gwillim property totals 486 ha. The western part of the property (385 ha) is under a 50/50 joint venture between Dore Copper and Argonaut Gold Inc. (through its wholly owned subsidiary Prodigy Gold Inc.) with Dore Copper being the operator. The eastern part of the property (102 ha) is 100% owned by Dore Copper. 

Located on the joint venture land, the Gwillim mine operated between 1974 and 1976 and again from 1980 to 1984. In total 254,066 short tons were mined at a grade of 4.79 g/t Au1. Most of the production came from the Main zone, which extended along strike for 122 meters with an average width of 2.6 meters and up to a depth of 114 metres.

In 1987, two high-grade intercepts of 7.0 meters at 33 g/t Au and 7.9 meters at 17.9 g/t Au were drilled by Greenstone Resources Ltd. at moderate depths of 200 to 300 meters at the KOD zone (300 meters south of the mined Gwillim Main zone)2. A further 25 holes were drilled from the surface before a ramp was developed and the zone was further explored from underground in 1988 but not mined (some development through ore). In 1989, three more surface holes were drilled to depths of 400 meters with one hole confirming the extension of the high-grade mineralization beyond 300 meters vertical depth. An internal report from 1989 outlined a small historical resource (not NI 43-101 compliant) for the KOD Zone. No other significant exploration activities are reported after this work.

Gwillim is hosted within the Roy group in the Bruneau Formation, in pillowed basalts and gabbroic sill. Mineralization is hosted predominantly within east-west, steeply dipping structures containing quartz-carbonate veins with limited amounts of massive sulphides. At KOD, there are two parallel east-west vein zones, approximately 50 meters apart, with the mineralization predominantly occurring in the northernmost vein. The thickness of the mineralization varies between 0.3 and 5.0 meters. The KOD zone is open along strike and downdip to the east under the Gwillim lake.  

References:

1 Structural and Stratigraphic Control on Magmatic, Volcanogenic, and Shear Zone-Hosted Mineralization in the Chapais-Chibougamau Mining Camp, Northeastern Abitibi, Canada – Leclerc et al., 1992 Society of economic geologist inc. V 107, pp. 963-989.

2 Diamond Drilling Report on the Gwillim Lake KOD Zone, Greenstone Resources (internal report) – Robert McIntosh, Project Geologist, Flanagan McAdam and Company, December 1989.

Table 1. Gwillim Assays Highlights from the 2021 Drill Program1

HoleFrom (m)To (m)Width1 (m)Au (g/t)Zone
KOD-21-0228.742.013.33.33unnamed
  including28.729.20.523.2unnamed
  including41.042.01.026.8unnamed

138.5141.53.03.39unnamed

203.5207.54.010.14KOD
KOD-21-03395.0399.04.03.03unnamed 

448.5454.56.04.64KOD
  Including448.5450.52.011.69KOD
The true width of the structures intersected is estimated at approximately 55-60% of the downhole width.
Figure 1. Surface plan of a portion of the Gwillim Property showing the location of the 2021 drill holes.
Figure 2. Cross-section of the KOD zone showing holes KOD-21-02 and 03.

Qualified Person

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 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 2,700 tonnes per day mill. The Corporation is expected to deliver a PEA by mid-Q2 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 gold 3. 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. 

For further information, please contact:

Ernest Mast 
President and Chief Executive Officer
Phone: (416) 792-2229
Email:  

Laurie Gaborit
VP Investor Relations
Phone: (416) 219-2049
Email: 

For more information, please visit: www.dorecopper.com 

Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

  • 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 the Corporation and its JV partner Argonaut Gold Inc.  planning a drilling program to test the strike and depth extension of both deposits; aiming to be the next copper producer in Québec with an initial production target of +50 Mlbs of copper equivalent annually; PEA by mid-Q2 2022; 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.

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.

Doré Copper reports more high-grade copper results from 2021 drilling program at its flagship Corner Bay copper-gold project 

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Toronto, Ontario March 10, 2022 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) announces additional high-grade copper results from the remaining holes of its 2021 drilling campaign at its flagship Corner Bay property, located in the Chibougamau mining camp, approximately 40 kilometers by road from Chibougamau, Québec. 

The 2021 drilling program totaled 41,063 meters in 43 holes (including wedge holes). Doré Copper is reporting today the results from five of the remaining six holes of the program, which are further confirming the expansion of the deposit. These latest results will be included into an updated Mineral Resource estimate for Corner Bay for the preliminary economic assessment (“PEA”) anticipated at the end of the first quarter of 2022. 

High-Grade Drilling Highlights

Main Vein above dyke (Figure 1)

  • 6.2 meters of 5.77% Cu, 0.51 g/t Au, 32.2 g/t Ag, and 1,373 ppm Mo (hole CB-21-50) 
  • 2.1 meters of 8.85% Cu, 0.16 g/t Au, 52.1 g/t Ag (hole CB-21-58) 
  • 3.7 meters of 8.61% Cu, 0.16 g/t Au, 56.5 g/t Ag (hole CB-21-60) 

Ernest Mast, President and CEO of Doré Copper, commented, “We now have seven holes at the southern end of the upper part of the Main Vein with impressive high-grade copper intercepts that are exceeding the approximate 3% average copper grade of the deposit. Four of the seven holes are assaying greater than 8% copper. This very high-grade zone is now approximately 250 meters in length by 250 meters vertical and remains open down plunge. The addition of this zone and the recently announced zone connecting the Main Vein below the dyke to the Lower Deep Lens is expected to add at least 1 million tonne to the current high-grade mineral resources. Our 2022 infill drilling program of 45,000 meters at Corner Bay is underway with three rigs and is focusing on upgrading the Inferred Resource to Indicated Resource for the feasibility study that will commence after the completion of the PEA.”

Corner Bay Drilling Program 

In the Main Vein above the dyke, today’s results (see above highlights) and previously announced high-grade intercepts of 3.9 meters of 8.03% Cu, 0.86 g/t Au, 42.1 g/t Ag, and 1,109 ppm Mo (hole CB-21-55); 4.2 meters of 6.18% Cu, 0.12 g/t Au, and 26.6 g/t Ag (hole CB-21-57); 3.7 meters of 9.41% Cu, 2.84 g/t Au, 36.5 g/t Ag, and 890 ppm Mo (hole CB-21-52); and  2.0 meters of 3.34% Cu and 15.6 g/t Ag (hole CB-21-53) have defined a very high-grade copper zone of approximately 250 meters of strike length by 250 meters of vertical depth (Figure 1 and Table 1). This high-grade zone overlaps with the upper part of the Main Vein below the dyke and is still open down plunge.

Two holes (CB-21-59 and 61) were drilled approximately 500 to 600 meters west of the Corner Bay Main Vein and did not intersect any significant mineralization. Assays are pending for hole CB-21-48, which is the deepest hole that targeted the Main Vein below the dyke. The hole intersected approximately 60% chalcopyrite over 1 meter. 

The 2021 drilling program has successfully continued to expand the copper-gold mineralization at Corner Bay in three areas of the deposit (Figure 2), bringing the total strike length to over 1,100 metres.

Figure 1. Long section view of the Corner Bay Main Vein above the dyke. 

Figure 2.
Isometric view of the entire Corner Bay deposit showing areas of expansion from drill results received since the October 2021 MRE. 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 Drill Assays Highlights from the 2021 Drill Program

HoleFrom (m)To (m)Width1 (m)Cu (%)Au (g/t)Ag (g/t)Mo (ppm)Zone
CB-21-48Assays PendingMain Vein below dyke
CB-21-50667.3673.56.25.770.5132.21,373Main Vein above dyke
CB-21-58823.9826.02.18.850.1652.1188Main Vein above dyke
CB-21-59No significant mineralizationOutside the deposit 
CB-21-60759.5763.23.78.610.1656.5141Main Vein above dyke
CB-21-61No significant mineralizationOutside the deposit
The true width of the structures intersected is estimated at approximately 55-60% 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 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 preparation and analysis were done at AGAT Laboratories in Mississauga, Ontario. 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 4 acid digest ICP-OES finish for 43 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 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 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. 

For further information, please contact:

Ernest Mast 
President and Chief Executive Officer
Phone: (416) 792-2229
Email:  

Laurie Gaborit
VP Investor Relations
Phone: (416) 219-2049
Email: 

For more information, please visit: www.dorecopper.com 

Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

  • 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 adding at least 1 million tonne to the current high-grade mineral resources; 2022 drilling plans include approximately 45,000 meters of infill drilling at Corner Bay; aiming to be the next copper producer in Québec with an initial production target of +50 Mlbs of copper equivalent annually; PEA at the end of Q1 2022; 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.

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.

Doré Copper reports more high-grade copper results from expansion drilling at its Corner Bay copper-gold project

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Toronto, Ontario February 8, 2022 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) is pleased to announce additional high-grade copper results from its completed 2021 drilling campaign at its flagship Corner Bay property, located in the Chibougamau mining camp, approximately 40 kilometers by road from Chibougamau, Québec. 

The 2021 drilling program totaled 41,063 meters in 43 holes (including wedge holes). Doré Copper is reporting today the results from five holes. The Corporation expects to receive assays for the remaining six holes of the program towards the end of February.

The drill results reported today have successfully expanded the copper-gold mineralization at Corner Bay in two areas of the deposit and will be incorporated, along with the results released on January 19, 2022 and the other pending results, into an updated Mineral Resource estimate for Corner Bay for the preliminary economic assessment (“PEA”) anticipated at the end of the first quarter of 2022. 

High-Grade Drilling Highlights

Main Vein above dyke (Figure 1)

  • 3.9 meters of 8.03% Cu, 0.86 g/t Au, 42.1 g/t Ag, and 1,109 ppm Mo (hole CB-21-55) 
  • 4.2 meters of 6.18% Cu, 0.12 g/t Au, and 26.6 g/t Ag (hole CB-21-57) – extends mineralization 250 meters downdip from intercept 3.7 meters of 9.41% Cu, 2.84 g/t Au, 36.5 g/t Ag, and 890 ppm Mo in hole CB-21-52 (previously reported)
  • Results pending from three other mineralized holes that will further expand the Main Vein above dyke along strike and at depth

Ernest Mast, President and CEO of Doré Copper, commented, “With these impressive high-grade copper intercepts, which are much higher than the approximate 3% average copper grade of the deposit, we have now defined a very high-grade zone of approximately 150 meters in length by 250 meters vertical within a key area of the deposit. The addition of this zone and the recently announced zone connecting the Main Vein below the dyke to the Lower Deep Lens is expected to add at least 1 million tonne to the current high-grade mineral resources and enhance our hub and spoke operation model with Corner Bay as its main mine. Our 2022 drilling program, already underway, includes approximately 45,000 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 

In the Main Vein above the dyke, today’s results from holes CB-21-53 (2.0 meters of 3.34% Cu and 15.6 g/t Ag), CB-21-55 (3.9 meters of 8.03% Cu, 0.86 g/t Au, 42.1 g/t Ag, and 1,109 ppm Mo), CB-21-57 (4.2 meters of 6.18% Cu, 0.12 g/t Au, and 26.6 g/t Ag) in combination with hole CB-21-52 (previously announced, 3.7 meters of 9.41% Cu, 2.84 g/t Au, 36.5 g/t Ag, and 890 ppm Mo) have defined a very high-grade copper zone of approximately 150 meters of strike length by 250 meters of vertical depth (Figure 1 and Table 1). This high-grade zone overlaps with the upper part of the Main Vein below the dyke and is still open down plunge.

In addition, holes CB-21-54 and CB-21-56 further confirmed that the mineralized area between the Main Vein below the dyke and the Deep Main Lens is continuous (Figure 2 and Table 1). This is another new area of 200 meters of strike length and approximately 300 meters of vertical extension that will be included the Mineral Resource update for the PEA. 

Figure 1. Long section view of the Corner Bay Main Vein above the dyke. 

Figure 2.
Long section view of the Corner Bay Main Vein below the dyke.  

The 2021 drilling program has 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. 

Figure 3. Isometric view of the entire Corner Bay deposit showing areas of expansion from drill results received since the October 2021 MRE. 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 Drill Assays Highlights from the 2021 Drill Program

HoleFrom (m)To (m)Width1 (m)Cu (%)Au (g/t)Ag (g/t)Mo (ppm)Zone
CB-21-53768.3770.32.03.340.5615.6-Main Vein above dyke
CB-21-541,149.51,152.32.81.850.293.9614Between Main Vein and Deep Lens
CB-21-55673.7677.63.98.030.8642.11,109Main Vein above dyke
CB-21-561,294.01,297.03.02.100.10--Between Main Vein and Deep Lens
CB-21-57720.0724.24.26.180.1226.6271Main Vein above dyke
Drill Assays Highlights released on January 19, 2022
CB-21-471,230.01,237.357.355.080.278.6182Between Main Vein and Deep Lens
Including1,230.01,234.14.16.060.2310.6189
CB-21-52598.9602.63.79.412.8436.5890Main Vein above dyke
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 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 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. 

For further information, please contact:

Ernest Mast 
President and Chief Executive Officer
Phone: (416) 792-2229
Email:  

Laurie Gaborit
VP Investor Relations
Phone: (416) 219-2049
Email: 

For more information, please visit: www.dorecopper.com 

Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

  • 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, expecting to receive assays for the remaining six holes of the program towards the end of February; adding at least 1 million tonne to the current high-grade mineral resources;2022 drilling plans include approximately 45,000 meters of infill drilling at Corner Bay; PEA at the end of Q1 2022; 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.

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.

Doré Copper announces 2022 drilling program at flagship Corner Bay and Devlin projects

   Download PDF   English   |   French

Toronto, Ontario January 25, 2022 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) is pleased to announce the approval of a fully funded 50,000 meter drilling program at the Corner Bay and Devlin projects that will mainly focus on resource category conversion and test a number of exploration targets on the property. The projects are located in the Chibougamau mining camp, less than 55 kilometers by road from the Corporation’s Copper Rand mill, near Chibougamau, Québec. 

We have started a 45,000 meter drilling program at our flagship Corner Bay project with two drills, both infilling the deposit at a 60 meter spacing. A third drill is expected to arrive in early February. In addition, there will be an infill drilling program of approximately 5,000 meters at the nearby Devlin project,” stated Ernest Mast, President and CEO of Doré Copper. “We expect to have an excellent resource conversion rate from the Inferred to Indicated category. Some holes will be twinned for metallurgical test work. The results of this drilling program will form the basis of a feasibility study to implement our hub-and-spoke operation model.” 

2022 Drilling Program and Exploration Activities

The 2022 infill drilling program includes 45,000 meters at the high-grade Corner Bay copper-gold deposit and 5,000 meters at the Devlin copper deposit, located 10 kilometres west of Corner Bay. 

The objective of this $7.0 million drilling program is to convert a significant proportion of the underground Inferred resources to the Indicated category. This program will enable the finalization of the underground engineering plans as part of the feasibility study that will start after the PEA is completed at the end of the first quarter of 2022. Drilling will also aim at extending some known copper mineralized zones at Corner Bay.

At Corner Bay, step out holes are planned to test a moderate to strong downhole geophysical target to the south of the East Vein, located 200 meters east of the Main Vein. 

A ground geophysical EM survey is planned southwest of the Corner Bay deposit over a one kilometer square area with similar magnetic signature, structural setting and lithology to Corner Bay.

Doré Copper finished 2021 with approximately $14.1 million in working capital, of which approximately $5 million is flow-through funds. 

Qualified Person

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.

COVID-19 Precautions 

Doré Copper has implemented precautions and procedures compliant with Québec’s health guidelines. Strict protocols are in place to ensure the safety of all staff, thereby reducing the potential for community contact and spreading of the virus.


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. 

For further information, please contact:

Ernest Mast 
President and Chief Executive Officer
Phone: (416) 792-2229
Email:  

Laurie Gaborit
VP Investor Relations
Phone: (416) 219-2049
Email: 

For more information, please visit: www.dorecopper.com 

Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

1. 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, a third drill expected to arrive in early February, having an excellent resource conversion rate from the Inferred to Indicated category, planning step out holes to test a geophysical target located to the south of the East Vein, planning a ground geophysical EM survey southwest of the Corner Bay deposit over a one kilometer square area, completing preliminary economic assessment (PEA) by the end of the first quarter of 2022, aiming 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, 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.

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.

Doré Copper intersects 3.7 meters at 9.41% copper, 2.84 g/t gold and 36.5 g/t silver at Corner Bay – continues to expand deposit

   Download PDF   English   |   French   |   GERMAN

Toronto, Ontario January 19, 2022 – 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. 

Drilling Highlights

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

HoleFrom (m)To (m)Width1 (m)Cu (%)Au (g/t)Ag (g/t)Mo (ppm)Zone
CB-21-391,175.551,177.62.052.040.2417.1-Main Vein below dyke (south) 
CB-21-39W1No significant mineralizationMain Vein below dyke (south) 
CB-21-40No significant mineralizationMain Vein below dyke (south) 
CB-21-41967.6971.13.52.660.4016.6195Main Vein below dyke (south)
CB-21-421,045.01,048.03.02.710.1822.3-Main Vein below dyke (south)
CB-21-43No significant mineralizationMain Vein below dyke (south)
CB-21-441,191.61,193.752.152.420.464.3322Between Main Vein and Deep Lens
CB-21-451,157.21,161.03.82.970.454.4682Between Main Vein and Deep Lens
CB-21-46No significant mineralizationMain Vein below dyke (south)
CB-21-47 Including1,230.01,237.357.355.080.278.6182Between Main Vein and Deep Lens

1,230.01,234.14.16.060.2310.6189
CB-21-49 including1,122.31,128.47.13.240.23-582Between Main Vein and Deep Lens

1,124.91,128.43.54.280.28-682
CB-21-51 including1,141.51,146.95.42.240.10-142Between Main Vein and Deep Lens

1,144.01,146.92.93.440.17-262
CB-21-52598.9602.63.79.412.8436.5890Main 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. 

For further information, please contact:

Ernest Mast 
President and Chief Executive Officer
Phone: (416) 792-2229
Email:  

Laurie Gaborit
VP Investor Relations
Phone: (416) 219-2049
Email: 

For more information, please visit: www.dorecopper.com 

Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

  • 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.

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.

Doré Copper Announces Appointment of Vice President Exploration

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TORONTO, Jan. 17, 2022 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper”) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) is pleased to announce the appointment of Mr. Sylvain Lépine, M.Sc., P. Geo., as Vice President Exploration of the Corporation, effective immediately.

Mr. Lépine has more than 15 years of experience in the mining industry, predominantly in gold and base metals in Québec. He joined Yorbeau Resources Inc. in 2015 and was appointed Vice President Exploration in 2020. Prior, he served as Vice President Exploration of Cogitore Resources Inc. from 2013 to 2015. Mr. Lépine was President of the Rouyn-Noranda chapter of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) from 2013 to 2019. In 2009, he was part of a team at Cogitore Resources that was awarded the Prospector of the Year Award from the Québec Mineral Exploration Association for the Scott Lake copper-zinc discovery. He is a professional geologist and a member of the Ordre des géologues du Québec.  He holds a Bachelor of Science degree in Geological Resources and a Master of Science degree in Earth Sciences from the Université du Québec à Montréal.

We welcome Sylvain to Doré Copper to the newly created position of Vice President Exploration,” stated Ernest Mast, President and CEO of Doré Copper, “His extensive experience in the Chibougamau area and the Abitibi region of Québec will be instrumental to our strategy of advancing the Corporation’s assets.

Doré Copper has granted Mr. Lépine an aggregate of 67,500 incentive stock options (the “Options”) having an exercise price of $0.70 per share. The Options can be exercised for a period of five years from the date of grant and are subject to the policies of the TSX Venture Exchange.

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 by 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.

For further information, please contact:

Ernest Mast 
President and Chief Executive Officer
Phone: (416) 792-2229
Email:  

Laurie Gaborit
VP Investor Relations
Phone: (416) 219-2049
Email: 

For more information, please visit: www.dorecopper.com 

Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

1. 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 Doré/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, have the preliminary economic assessment (PEA) completed by the end of the first quarter of 2022, aiming 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, 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.

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.