Toronto, Ontario – April 22, 2020 – Doré Copper Mining Corp. (the “Company” or “Doré Copper“) (TSXV: DCMC) is pleased to announce two additional intercepts from its 2020 drill program at the Corner Bay deposit. These results complete the assays for drill holes announced on March 3rd, 2020. The two holes extend the deposit approximately 200 meters downdip with the deposit remaining open along strike and down plunge.
- CB-20-16: 7.25 meters of 2.46% Cu, 0.59 g/t Au and 5.0 g/t Ag (TW approx. 4.26 meters).
- CB-20-16W1: 2.3 meters of 2.67% Cu, 0.17 g/t Au and 6.2 g/t Ag (TW approx. 1.5 meters). This was part of a large mineralized shear zone of 33.1 m (TW 21.85 m) assaying 0.56% Cu.
The Company’s drilling program was stopped on March 24th when the Québec government announced the stoppage of all non-essential businesses due to the COVID-19 pandemic. Once the government declares mineral exploration an essential business, drilling is expected to resume shortly thereafter at the Cedar Bay deposit where previous drilling returned numerous high-grade 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.
Ernest Mast, President and CEO of Doré Copper Mining Corp. stated, “The latest two intercepts at Corner Bay support the continuity of mineralization and demonstrate the potential to continue to grow the deposit towards the south along strike and down plunge. This supports the eventual hub-and-spoke restart of the camp using our existing 2,700 tpd mill. CB-20-16W1 is particularly interesting as the intercept was part of a 33.1 m shear zone that assayed 0.56% Cu. This is one of the thickest mineralized shear zones drilled at Corner Bay indicating potential for higher grade very thick mineralized zones.”
Corner Bay Drill Program
The CB-20-16 and CB-20-16W1 intercepts extend the main deposit beneath the diorite dyke downdip by approximately 200 meters. These holes follow up the 2020 results announced on March 3rd that include CB-20-17 that intersected 7.0 meters of 9.08% Cu and 0.41 g/t Au.
Table 1 – Drill intercepts from drilling at Corner Bay completing initial 2020 drill program
|Hole||From (m)||To (m)||Width* (m)||Cu (%)||Au (g/t)||Ag (g/t)|
Hole CB-20-16 was drilled with an azimuth of 89 degrees and dip of 69.5 degrees. Hole CB-20-16W1 was drilled with an azimuth of 89 degrees and dip after wedge of 66 degrees.
An isometric view of the intercepts is shown below in a long section of the southern area of the deposit below the dyke.
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 Company currently has two drill rigs at Cedar Bay. The drills stopped on March 24th, due to the stoppage of non-essential businesses declared by the Québec government as a response to the COVID-19 pandemic. Once exploration activities will be classified as essential, the Company expects to resume its drilling operations while implementing hygiene and personal distancing measures to stop the spread of the virus.
The ongoing drill program at Cedar Bay will test the 10-20 zone that consists of three (currently defined) 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 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 3sd 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.
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.
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, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by the Corporation with securities regulators. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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