TORONTO, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Doré Copper Mining Corp. (the "Corporation" or "Doré Copper") (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) is pleased to announce its plan to drill at Joe Mann, part of the preliminary economic assessment (“PEA”), and at the Doré Ramp gold-copper deposit located 2.5 kilometers from the existing Copper Rand mill, near Chibougamau, Québec (Figure 1). This drilling is expected to start in the fourth quarter and is in addition to the ongoing infill drill program at Corner Bay and Devlin for the upcoming feasibility study (latest news release August 11, 2022).
Earlier this summer, at the Doré Ramp exploration target, Doré Copper completed one diamond drill hole (LDR-22-01) and intersected two veins with one grading 4.37% Cu, 0.87 g/t Au and 13.0 g/t Ag over 2.4 meters, including 17.6% Cu, 1.76 g/t Au and 43.90 g/t Ag over 0.5 meter, at a vertical depth of 880 meters, which is approximately 500 meters deeper than the historical estimate (Figure 2). This hole indicates the potential to extend the currently known Doré Ramp mineralized system at depth. This initial drilling plan consists of four wedge cuts from hole LDR-22-01 to test for vein extensions and new veins.
Joe Mann Deposit
Doré Copper’s drilling plan for the fall is to extend the plunge of a mineralized shoot in the Main Zone at depths between 1,100 and 1,300 meters. Pending the results, a more detailed drilling plan will be designed to further upgrade and expand the current mineral resources. The Corporation has an option agreement to acquire 100% of the Joe Mann property by January 2, 2023 (news release January 2, 2020).
In the PEA released on May 10, 2022, the former Joe Mann gold mine is one of the three projects feeding the Copper Rand mill in its hub-and-spoke operation model. The mine produced a total of 1,173,238 ounces of gold, 28.7 million pounds of copper, and approximately 607,000 ounces of silver from 1956 to 2007 (4.75 million tonnes grading 8.26 g/t Au, 0.25% Cu and 5.0 g/t Ag)1. The current mineral resources stand at 680,000 tonnes averaging 6.78 g/t Au and 0.24% Cu (133,000 ounces) in the inferred category and are located in eastern part of the Main Zone and the West Zone at depths below 870 meters (news release July 28, 2021 and Technical report June 15, 20222).
Doré Ramp Deposit
The immediate vicinity of the Copper Rand mill is showing strong potential for the discovery of new copper and gold mineralization. The Doré Ramp deposit (previously called Lac Doré Ramp) is within the Chibougamau Central mining camp and as many other deposits and mineral occurrences it is within a wide (from 100 to 400 meters) shear zone perpendicular to the Lac Doré fault. In the Chibougamau Central camp, the copper and gold-rich mineralized zones are in contact with acidic to intermediate dykes interpreted as coming from the Chibougamau Pluton. The Doré Ramp deposit starts at 80 meters below surface and has been tested over a strike length of approximately 500 metres. It consists of a series of subparallel pinch and swell veins, varying in thickness from 0.3 to 7.7 meters, that extend from 150 to 300 meters along strike. A number of mineralized lenses are displaced by northeast faults at 15 to 30 metres intervals.
The Doré Ramp deposit was drilled in a few different phases from 1984 to 1992. A total of 47 drill holes from surface are reported during that period. A double ramp of approximately 1 kilometer was excavated in 1991-92 to a vertical depth of 160 meters, followed by an underground drilling campaign of 46 holes totaling 10,200 meters testing the deposit mainly to a depth of 240 meters (only five holes tested the deposit between 300 and 600 meters). At the end of 1992, Westminer Canada reported a historical estimate of 209,120 tonnes at 1.23% Cu and 5.4 g/t Au, from a depth of 115 meters (surface pillar limit) to 350 meters (Source: Westminer Canada Limited, Project Lac Doré, November 1992). This estimate is considered to be historical in nature and should not be relied upon. A Qualified Person has not completed sufficient work to classify the historical estimate as a current mineral resource or mineral reserve. The Company is not treating the historical estimate as current mineral resources or mineral reserves). No subsequent exploration programs were carried out on the Doré Ramp deposit. The deposit remains open at depths below 400 meters and along strike towards the Lac Doré fault.
The Doré Ramp deposit has several geological and mineralization characteristics similar to the past producing Copper Rand and Cedar Bay mines. The Copper Rand mine is the largest past producing mine in the Central Chibougamau mining camp having produced 1.5 million ounces of gold and 0.5 billion pounds of copper from 1959 to 2008 (16.4 million tonnes at an average grade of 1.8% Cu and 2.8 g/t Au)1. From surface, the mineralization at Copper Rand and Doré Ramp begins at 450 meters from the Doré Lake fault and plunges to the west (Figure 2). At Copper Rand, at depths below 650 meters, the mineralization extends next to the contact with the Doré Lake fault. This conceptual target has never been tested at the Doré Ramp deposit. With the first deeper hole (LDR-22-01) having intersected copper-gold mineralization, the next drilling phase will indicate if the mineralization system extends up dip along strike.
Doré Ramp North Zone
The Doré Ramp North Zone is located 450 meters northeast of the Doré Ramp deposit and is defined by a shear corridor parallel to the Doré Ramp shear. Information collected from 11 historical drill holes targeting the Doré Ramp North show similar mineralization to the Doré Ramp. The best intersections reported were 2.13% Cu and 1.25 g/t Au over 2.3 metres (hole S4-91-6) and 1.43% Cu and 1.68 g/t Au over 2.75 metres (hole S4-91-9) (Source: Westminer Canada Limited, drill logs March 1991). Doré Copper intends to follow up on this target after completing the drilling program at the Doré Ramp and continue its compilation work on the area around the large Copper Rand property in the Central Chibougamau Camp.
Figure 1. Location map of the Doré Ramp and Doré Ramp North shear zones with respect to the past producing Copper Rand mine and mill and Cedar Bay mine.
Figure 2. Long sections of Copper Rand mine and Doré Ramp showing similarities of the two deposits.
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 are completed at AGAT Laboratories in Mississauga, Ontario. For AGAT, samples are weighed, dried, crushed to 75% passing 2 mm, split to 250 g, and pulverized to 85% passing 75 microns. Samples are 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 Vice President Exploration. 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.
Sylvain Lépine, M.Sc, P.Geo., Vice President Exploration of the Corporation and a "Qualified Person" within the meaning of National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
About Doré Copper Mining Corp.
Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target of +50 million pounds of copper equivalent annually by implementing a hub-and spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill1. The Corporation has delivered its PEA in May 2022 and plans to commence a feasibility study and submit the Preliminary Information Statement of the Environmental and Social Impact Assessment (ESIA) in Q3 2022.
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 gold2. The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometer radius of the Corporation’s Copper Rand Mill.
| For further information, please contact: | |
| Ernest Mast | Laurie Gaborit |
| President and Chief Executive Officer | Vice President, Investor Relations |
| Phone: (416) 792-2229 | Phone: (416) 219-2049 |
| Email: ernest.mast@dorecopper.com | Email: laurie.gaborit@dorecopper.com |
| 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).
- Technical report titled "Preliminary Economic Assessment for the Chibougamau Hub-and-Spoke Complex, Québec, Canada" dated June 15, 2022, in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The Technical Report was prepared by BBA Inc. with several consulting firms contributing to sections of the study, including SLR Consulting (Canada) Ltd., SRK Consulting (Canada) Inc. and WSP Inc.
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 drilling Joe Mann and Lac Doré Ramp in the fourth quarter of 2022, aiming to be the next copper producer in Québec with an initial production target of +50 million pounds of copper equivalent annually; implementing a hub-and spoke operation model; plans to commence a feasibility study and submit the Preliminary Information Statement of the Environmental and Social Impact Assessment (ESIA) in Q3 2022.
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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