Toronto, Ontario – September 15, 2020 – Doré Copper Mining Corp. (the “Company” or “Doré Copper“) (TSXV: DCMC) is pleased to announce results from its ongoing 2020 drill program at the Cedar Bay deposit, located in the Lac Doré mining camp near Chibougamau, Québec. Today’s results demonstrate the extensions of the Cedar Bay Central, 10-20 A and B veins.
- CDR-20-08AW1 – Central vein: 3.4 meters of 6.92% copper (Cu), 3.1 g/t gold (Au), and 24.2 g/t silver (Ag) approximately 75 meters down dip and along strike from hole CB-27-9 that intercepted 2.0 meters (TW) of 15.2 g/t Au and 4.8% Cu and 100 meters up dip and along strike from hole CDR-20-04C that intercepted 1.2 meters (TW) of 14.2% Cu and 1.16 g/t Au.
- CDR-20-08A – 10-20A vein: 1.7 meters of 7.57 g/t Au, 1.65% Cu and 15.8 g/t Ag. This is located approximately 250 m down plunge of CDR-18-02W2 that intercepted 2.9 meters (TW) of 12.25 g/t Au and 1.2% Cu.
Ernest Mast, President and CEO of Doré Copper stated, “These latest intercepts at Cedar Bay potentially extend the mineralization of the Central, 10-20 A and 10-20 B veins. The higher-grade gold nature of the intercepts supports the thesis of orogenic gold enrichment of the Cedar Bay veins. The intercept on the Central vein follows up on the high-grade intercept CDR-20-04C of 14.2% Cu over 1.5 meters from earlier this year. The large potential downdip extension of the 10-20 A and B veins is extremely promising. Following the completion of the drilling campaign, the Company is expected to have an updated mineral resource estimate by H1/21 to support an eventual hub-and-spoke restart of the camp along with the Corner Bay and Joe Mann deposits using our existing 2,700 tpd mill as a central processing facility.”
Cedar Bay Drill Program
The two holes crossed the Main, Central and 10-20A and 10-20B veins. Mineralized intercepts are highlighted in Table 1 with hole locations on Figure 1.
Hole CDR 20-08A was drilled from the west close to the collar location used in the 2018 drill program when the Company was private. The hole was initiated with an azimuth of 66 degrees and a dip of -63.5 degrees. Hole CDR-20-08AW1 was then wedged at a depth of 700 meters. The Central vein and 10-20 veins that are adjacent to the existing shaft were targeted (Figure 2).
Prior drill results from Cedar Bay were announced on August 4, 2020 for the Central vein, Main Vein, Zone 21 and the Copper Cliff Crown Pillar. Of note, in the August 4, 2020 news release, hole CDR-20-04C intersected 1.2 meters (TW) of 14.2% Cu and 1.16 g/t Au. Hole CDR-20-08AW1 intercepted mineralization between that intercept and a high-grade historic intercept of 2.0 meters (TW) of 15.2 g/t Au and 4.8% Cu from hole CB-27-9.
The vertical extension of the 10-20 A and 10-20 B structures was extended by approximately 250 meters downdip as demonstrated by Hole CDR-20-08AW1. The structure between the CDR-20-08AW1 intercepts and the historical holes on the 10-20 A and B structures will be tested by CDR-20-08AW2.
Table 1. Cedar Bay Property Drill Assay Highlights
|CDR 20- 08A-||10-20B||1,440.2||1,442.4||2.2||1.67||1.67||20.7|
Cedar Bay Property
The Cedar Bay property is located five kilometers by road from the Company’s Copper Rand Mill that operated from 1959 to 1990 producing 3.9 million tonnes grading 1.63% Cu and 3.21 g/t Au. The deposit is comprised of multiple parallel to sub-parallel, NW-SE striking, steeply dipping extensional shears which are mineralized with semi-massive to massive sulfides (Cpy +/- Py +/- Po). All deposits along the Lac Doré complex share the same general attributes. At Cedar Bay, there are currently five identified parallel zones – Main 1 and 2, Central, 10-20 A and B (from SW to NE), as well as several other smaller lenses in between.
Cedar Bay’s mineral resources consist of an indicated resource of 130,000 tonnes grading 9.44 g/t Au and 1.55% Cu and an inferred resource of 230,000 tonnes grading 8.32 g/t Au and 2.13% Cu, all located in the 10-20A, 10-20B and Central structures (2019 NI 43-101 Technical Report – all resources are reported on a minimum 2 meter vein width).
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 and assays were done at SGS lab in Val-d’Or, Québec. Samples were weighed, dried, crushed to 75% passing 2 mm, split 250 g, pulverized to 85% passing 75 microns. Samples were then fire assayed for Au (30 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.
Historical drilling results disclosed in this news release about Corner Bay and Cedar Bay are taken from the technical report entitled “Technical Report on the Corner Bay and Cedar Bay Projects, Northwest Québec, Canada” dated June 15, 2019, prepared by Luke Evans, M.Sc., P.Eng., which is available under Doré Copper’s profile on SEDAR at www.sedar.com.
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
Doré Copper Mining Corp. is a copper-gold explorer and developer in the Chibougamau area of Québec, Canada. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau mining camp that has produced 1.6 B lbs of copper and 3.2 M oz of gold. In addition, the Company has optioned the high-grade Joe Mann gold mine (production 1.17 M oz at 8.26 g/t Au). The land package includes 12 former producing mines, deposits and resource target areas within a 60-kilometre radius of the Company’s 2,700 tpd mill (Copper Rand Mill).
The Company’s current focus is to grow mineral resources and re-develop the high-grade Corner Bay (Cu-Au), Cedar Bay (Au-Cu), and Joe Mann (Au) deposits. The Company’s ongoing fully-funded 35,000-metre drilling program for 2020 and early 2021 is expected to lead to an updated mineral resource estimate and a Preliminary Economic Assessment (PEA) in 2021.
For further information regarding Doré Copper, please visit the Company’s website at www.dorecopper.com or refer to Doré Copper’s SEDAR filings at www.sedar.com.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”, “schedule”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the timing and ability of the Company to receive necessary regulatory approvals, and the plans, operations and prospects of the Company and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, actual exploration results, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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