Doré Copper Mining Corp. [DCMC-TSXV; DRCMF-OTCQX; DCM-FSE] reported positive assay results from the first of two drill holes completed in late 2022 on the KOD zone of the Gwillim property, which is under a 50/50 joint venture with Argonaut Gold Inc. [AR-TSX] (through its wholly owned subsidiary, Prodigy Gold Inc.). Doré Copper is the operator of the joint venture. Gwillim is located approximately 8 kilometers by road northwest of Chibougamau, Quebec.
Drilling Highlights: KOD-22-04 (Zone B) returned 9.67 g/t gold over 5.3 metres (visible gold). Zone C returned 11.10 g/t gold over 3.0 metres
In addition to the drilling program, the joint venture completed a 146 line-km VTEMTM airborne electromagnetic survey over the property and a televiewer acoustic and optical survey in seven drill holes of the KOD zone. The VTEM(TM) survey results have identified several conductive anomalies. Specifically, one large anomaly is located at the KOD zone starting at a depth of 150 meters, just west of holes KOD-22-04 and 05.
Ernest Mast, President and CEO, commented, “The limited drilling to date on the KOD zone is demonstrating good continuity of the high-grade gold mineralization from surface to a vertical depth of approximately 600 metres and the system remains open at depth. Further work is warranted to test the strike and depth extension of the KOD zone, along with a number of conductive anomalies.”
Gwillim Drilling Program: Doré Copper drilled two holes totaling 1,320 metres in December 2022 to follow up on positive results from two holes completed the prior year on the KOD zone located 300 metres south of the mined Gwillim Main zone. Hole KOD-22-04 intersected two main mineralized zones, of 9.67 g/t gold over 5.3 metres, including 19.46 g/t gold over 2.1 metres, starting at a vertical depth of approximately 580 metres and 11.10 g/t gold over 3.0 metres, which are interpreted as zones B and C of the KOD mineralized structure. These gold intercepts in zones B and C are located approximately 190 and 215 metres, respectively, below hole KOD-21-03. In addition, a wide zone of low-grade mineralization, 0.86 g/t gold over 42.3 metres, was intersected from 460 to 502.3 metres. Assays are pending from 130 to 323.5 metres.
The KOD mineralized system remains open along strike and below 600 meters. Assays are pending for hole KOD-22-05, drilled on the same pad as KOD-22-04 and approximately 60 meters west-southwest of zone B intersected in KOD-22-04.
Located on the joint venture land, the Gwillim mine operated between 1974 and 1976 and again from 1980 to 1984. In total 254,066 short tons were mined at a grade of 4.79 g/t Au. Most of the production came from the Main zone, which extended along strike for 122 metres with an average width of 2.6 metres and up to a depth of 114 metres.
Doré Copper Mining aims to be the next copper producer in Quebec 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 mill. The corporation delivered its PEA in May 2022 and is proceeding with a feasibility study.
The comapny 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 gold. The land package includes 13 former producing mines, deposits and resource target areas within a 60-km radius of the Copper Rand Mill.