DorÃ© Copper Mining Corp. [DCMC-TSXV; DRCMF-OTCQX] reported additional high-grade copper results from the remaining holes of its 2021 drilling campaign at its 100%-owned flagship Corner Bay property in the Chibougamau mining camp, approximately 40 km by road from Chibougamau, Quebec.
The 2021 drilling program totaled 41,063 metres in 43 holes. Dore Copper reported results from five of the remaining six holes which are further confirming the expansion of the deposit. These latest results will be included into an updated Resource estimate for the upcoming preliminary economic assessment (PEA).
The Main Vein above dyke returned 6.2 metres of 5.77% copper, 0.51 g/t gold, 32.2 g/t silver, and 1,373 ppm molybdenum in hole CB-21-50. Hole CB-21-58 returned 2.1 metres of 8.85% copper, 0.16 g/t gold and 52.1 g/t silver. Hole CB-21-60 returned 3.7 metres of 8.61% copper, 0.16 g/t gold and 56.5 g/t silver.
Ernest Mast, President and CEO, commented, â€œWe now have seven holes at the southern end of the upper part of the Main Vein with impressive high-grade copper intercepts that are exceeding the approximate 3% average copper grade of the deposit. Four of the seven holes are assaying greater than 8% copper. This very high-grade zone is now approximately 250 metres in length by 250 metres vertical and remains open down-plunge. The addition of this zone and the recently announced zone connecting the Main Vein below the dyke to the Lower Deep Lens is expected to add at least 1 million tonnes to the current high-grade mineral resources. Our 2022 infill drilling program of 45,000 metres at Corner Bay is underway with three rigs and is focusing on upgrading the Inferred Resource to Indicated Resource for the feasibility study that will commence after the completion of the PEA.â€
In the Main Vein above the dyke, todayâ€™s results and previously announced high-grade intercepts of 3.9 metres of 8.03% copper, 0.86 g/t gold, 42.1 g/t silver, and 1,109 ppm molybdenum (hole CB-21-55); 4.2 metres of 6.18% copper, 0.12 g/t gold, and 26.6 g/t silver (hole CB-21-57); 3.7 metres of 9.41% copper, 2.84 g/t gold, 36.5 g/t silver, and 890 ppm molybdenum (hole CB-21-52); and 2.0 metres of 3.34% copper and 15.6 g/t silver (hole CB-21-53) have defined a very high-grade copper zone of approximately 250 metres of strike length by 250 metres of vertical depth. This high-grade zone overlaps with the upper part of the Main Vein below the dyke and is still open down-plunge.
Two holes (CB-21-59 and 61) were drilled approximately 500 to 600 metres west of the Corner Bay Main Vein and did not intersect any significant mineralization. Assays are pending for hole CB-21-48, which is the deepest hole that targeted the Main Vein below the dyke. The hole intersected approximately 60% chalcopyrite over 1 metre.
The 2021 drilling program has successfully continued to expand the copper-gold mineralization at Corner Bay in three areas of the deposit, bringing the total strike length to over 1,100 metres.
Dore Copper Mining Corp. aims to be the next copper producer in Quebec with an initial production target of +50 Mlbs of copper equivalent annually by implementing a hub-and spoke operation model with multiple high-grade copper-gold assets feeding its centralized 2,700 tonnes/day mill. The company expects to deliver a PEA at the end of Q1 2022 and then initiate a feasibility study and permit applications. In the Mineral Resource estimate of October 6, 2021, the Corner Bay deposit contains an Indicated Resource of 2.66 Mt at 2.68% copper and 0.26 g/t gold containing 157 million pounds of copper and 22,000 ounces of gold and an Inferred Resource of 4.54 Mt at 3.20% copper and 0.27 g/t gold containing 320 million pounds of copper and 39,000 ounces of gold, based on a cut-off grade of 1.3% copper and a copper price of US$3.75/lb.
Doreâ€™s land package includes 13 former producing mines, deposits and resource target areas within a 60-km radius of its Copper Rand mill.