TORONTO, May 03, 2023 (GLOBE NEWSWIRE) -- Doré Copper Mining Corp. (the "Corporation" or "Doré Copper") (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) is pleased to announce its plans to drill several high priority copper-gold targets in the Central Chibougamau mining camp, located in proximity to its existing Copper Rand mill, near Chibougamau, Québec (Figure 1). The drilling program is scheduled to start at the end of June.
High Priority Drilling Targets:
Jaculet (Figure 2)
The Jaculet mine, located 2.5 kilometers by road from the Copper Rand mill, was in operation from 1960 to 1971 and produced a total of 1,091,000 tonnes at 1.84% Cu, 1.44 g/t Au and 6.85 g/t Ag (20,074 tonnes of Cu and 1.57 tonnes Au)1. Jaculet was mined to a depth of 366 meters (1,200 feet) and the shaft was deepened to 500 meters (1,650 feet) in 1972. The Jaculet mineralized system consists of two distinct shear zones, known as Zone 1 and Zone 2, which both remain open at depth with very little development below 366 meters.
Two surface holes completed in 1956 by Chibougamau Jaculet Mines Ltd. intersected Zone 1 at a vertical depth of approximately 400 meters. Hole V17 and V17A (wedge from V17, located approximately 50 meters to the east) intersected 4.55% Cu and 0.86 g/t Au over 6.7 meters and 4.25% Cu and 0.59 g/t Au over 6.4 meters, respectively.
Doré Copper plans to drill two holes for a total of 1,300 meters. The first hole will test the potential down plunge extension of holes V17 and V17A in Zone 1. The second hole will test another potential ore shoot located approximately 400 meters to the west.
The Jaculet deposit is defined by two distinct subparallel shear zones, known as Zone 1 and Zone 2, separated by approximately 200 meters, where the veins within both zones typically range from 91 to 137 meters in strike length. Zone 1 extends for approximately 500 meters and has an average strike of 290° with a northerly dip ranging from 55° to near vertical. Mineralization in Zone 1 consists of chalcopyrite and minor pyrite within the sheared and altered gabbroic anorthosite. Zone 2 extends for approximately 670 meters in length and is oriented at 80° north dipping 80-85° to the south. Mineralization consists of stringers of pyrite with erratic lenses of chalcopyrite associated with siderite, sericite and chloritoid.
Cedar Bay Southwest Zone Extension (Figure 3)
The Southwest Zone, located 300 meters southwest of the Cedar Bay Main Zone, was partially developed by Campbell Chibougamau Mines Limited up to the 200-meter (650-feet) level, right at the property limit with Patino Mining. The potential extension of the Cedar Bay Southwest Zone along strike to the southeast was never tested by Patino Mining and subsequent companies that controlled that ground. In total, approximately 800 meters of strike length have not been tested up to the Lac Doré Fault.
Doré Copper plans to drill two holes from the same pad for a total of 1,500 meters to test the potential southeast extension of the Cedar Bay Southwest Zone.
The Cedar Bay mine operated from 1958 to 1990 and produced 3.9 million tonnes grading 1.56% Cu and 3.22 g/t Au1. The ore from the mine was processed at the Copper Rand mill located 5 kilometers by road. The deposit was mined to a depth of 670.5 meters and the existing shaft extends to a depth of 1,036 meters. Doré Copper, while private, completed four holes (including wedges) totaling 4,842 meters in 2018 and reported an Indicated resource of 130,000 tonnes at 9.44 g/t Au and 1.55% Cu, and an Inferred resource of 230,000 tonnes at 8.32 g/t Au and 2.13% Cu (effective date of December 31, 2018)2. During 2020, the Corporation completed 9,025 meters of drilling and successfully extended a number of mineralized lenses (the 10-20A and 10-20B).
Figure 1. Plan View of Copper Rand Property Showing the Jaculet and Cedar Bay SW Targets
Figure 2. Plan View and Long Section Showing the Jaculet Target
Figure 3. Plan View and Long Section Showing the Cedar Bay Southwest Zone Extension
Qualified Person
Sylvain Lépine, M.Sc, P.Geo, MBA, 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 mill2. The Corporation has delivered its PEA in May 2022 and is proceeding with a feasibility study.
The Corporation has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold3. 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
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- Sources for historic production figures: Lacroix, S., Doyon, M., Perreault, S., Nantel, S., Gaudreau, R., Dussault, C.,and Morin, R., 1997, Rapport des géologues résidents sur l’activité minière régionale en 1996: Ministère des Ressources naturelles du Québec Report DV97-01, 102 p.
- 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.
- 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 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 completing a feasibility study.
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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