Toronto, Ontario – March 2, 2020 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC) is pleased to announce initial intercepts from its 2020 drill program. The maiden 2020 drill program has successfully expanded mineralization at Corner Bay including one of the highest-grade intercepts to date with hole CB-20-17 that returned 9.08% Cu over 7.0 meters (TW approx. 4.6 meters). This intercept is located 100 meters to the south along strike of holes CB-18-07 (3.5 % Cu over 13.3 meters including 5.22% Cu over 5.11 meters) and CB-18-06 (2.33% Cu over 12.3 meters including 3.98% Cu over 4.3 m).
Highlights from 2020 drilling include:
- CB-20-17: 7.0 meters of 9.08% Cu, 0.41 g/t Au and 30.64 g/t Ag, including 4.75 meters of 11.07% Cu, 0.48 g/t Au and 36.11 g/t Ag (TW approx. 4.6 meters)
- CB-20-15: 7.45 meters of 2.38% Cu, 0.12 g/t Au and 4.16 g/t Ag, including 3.65 meters of 3.65% Cu, 0.18 g/t Au and 6.2 g/t Ag (TW approx. 4.8 meters)
- CB-20-12: 2.45 meters of 3.21% Cu, 0.11 g/t Au and 18.8 g/t Ag (TW approx. 1.6 meters)
Ernest Mast, Doré Copper’s President and CEO stated, “The results of the drilling program suggest that we’ll be able to expand the mineral resource at Corner Bay, one of the highest-grade copper deposits in the Americas. The deposit remains open in all directions and we have numerous targets that will be tested in the future. In addition, we did a downhole EM survey on a shear structure east of the main vein that will generate additional targets. Drilling has commenced at Cedar Bay to test the high-grade gold mineralization of the parallel 10-20 zones where previous drilling intercepted numerous high-grade intercepts including 2.4 meters of 19.5 g/t gold and 1.67% copper as well as test the main vein at Cedar Bay at depth. After the Cedar Bay program, drilling will commence at the high-grade gold Joe Mann mine to test the downdip potential where previous drilling intercepted 3.02 meters of 30.3 g/t gold.”
Drilling has also commenced at the Corporation’s Cedar Bay property, testing the high-grade gold mineralization of the parallel ore zones where previous drilling intercepted numerous high-grade intercepts including 19.5 g/t Au and 1.67% Cu over 2.4 m as well as test the main vein at Cedar Bay at depth.
Corner Bay Drill Program
The intercepts of CB-20-12, CB-20-15 and CB-20-17 extend the main deposit beneath the diorite dyke to the south by approximately 100 meters [on strike] and over a vertical distance of 250 meters (see Figure 1). The intercept of CB-19-08 extended the mineralization above the dyke by 100 meters along strike in parallel to the main vein shear zone. The intercept of CB-20-12 extended the mineralization up-dip below the dyke by 80 meters. Table 1 provides highlight intercepts from drilling so far in 2020.
Table 1 – Highlight drill intercepts from drilling at Corner Bay
|Hole||From (m)||To (m)||Width* (m)||Cu (%)||Au (g/t)||Ag (g/t)|
|CB-20-16||Intersected shear zone with weak mineralization. Assays pending.|
An isometric view of the intercepts is shown below in a long section of the southern area of the deposit below the dyke. The 2.7 meter intercept at hole CB-20-13 is believed to be offset from the main structure. Hole CB-19-08, the intercept above the dyke is not shown in the image.
The Corporation currently has one drill at Corner Bay, drilling a wedged hole to intercept the shear structure approximately 100 meters above CB-20-16 which drifted 220 meters from the previous intercept (CB-18-05). Upon completing the wedged hole, the drill will move to Cedar Bay to join the second rig.
The Corner Bay project has an indicated resource of 1.35 Mt at average grades of 3.01% Cu and 0.29 g/t Au, containing 89.8 Mlb of copper and 13,000 ounces of gold, and an inferred resource of 1.66 Mt at average grades of 3.84% Cu and 0.27 g/t Au, containing 140.3 Mlb of copper and 15,000 ounces of gold, assuming a cut-off grade of 1.5% Cu and a copper price of US$3.25 per pound (Source: 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.).
Cedar Bay Property
The ongoing drill program at Cedar Bay will test the 10-20 zone that consists of three parallel veins where previous drilling returned numerous high-grade copper and gold intercepts including 2.4 m grading 19.5 g/t Au and 1.67% Cu in hole CDR-18-02, and 2.4 m grading 15.4 g/t Au and 4.54% Cu in hole CDR-18-03. The drill program will also test the main Cedar Bay vein at depth.
The Corporation 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 and AGAT labs in Val-d’Or, Quebec. Samples were weighed, dried, crushed to 75% passing 2 mm, split 250 g, pulverized to 85% passing 75 microns. Samples at SGS were then fire assayed for Au (30 g) and sodium peroxide fusion ICP-MS finish for 34 elements. At AGAT samples were analyzed by fire assay with ICP finish (50 g) for Au, Pt & Pd, 3 acid digest w/ICP for Ag, and peroxide fusion, ICO-OES finish for 21 elements.
The historical drilling results disclosed in this news release about Corner Bay and Cedar Bay was 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. The historical drilling results disclosed in this news release about Joe Mann was taken from the Technical Report on the Joe Mann Mining Property dated January 11, 2016, prepared by Geologica Inc., Alain-Jean Beauregard, P. Geo, OGQ.
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 is engaged in the acquisition, exploration and evaluation of mineral properties. Doré Copper completed a qualifying transaction on December 13, 2019, establishing itself as a copper – gold explorer and developer in the Chibougamau area of Québec, Canada. Doré Copper, through its wholly owned subsidiary CBAY Minerals Inc., holds a 100% interest in the exploration-stage Corner Bay project and the exploration-stage Cedar Bay project, both located in the vicinity of Chibougamau, Québec, as well as the 2,700-tpd Copper Rand mill. Doré Copper has an option agreement to acquire 100% of the Joe Mann property (see press release dated January 2, 2020), whereby if certain payments and spending requirements are met over a three-year period, the Corporation will become 100% owner of the 1,990-hectare Joe Mann property.
For further information regarding Doré Copper, please visit the Corporation’s website at www.dorecopper.com or refer to Doré Copper’s SEDAR filings at www.sedar.com.
For further information, please contact:
President and Chief Executive Officer
Phone: (416) 792-2229
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 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, and other exploration or other risks detailed herein and from time to time in the filings made by the Corporation with securities regulators. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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