Dore Copper Mining Corp. [DCMC-TSXV; DRCMF-OTCQX; DCM-FSE] reported final results from its 2022 drilling program on its 100%-owned flagship Corner Bay property in the Chibougamau mining camp, approximately 40 km by road from Chibougamau, Quebec.
In 2022, Dore Copper has completed 44 holes totalling 38,405 metres and is releasing today the assay results from the last 12 holes.
This drilling program is part of the feasibility study work to upgrade the inferred mineral resource to the indicated category. Another infill drilling program of approximately 2,000 metres is planned at Devlin for the first quarter of 2023.
Drilling highlights: At the Main Vein below dyke drill hole
CB-22-86 returned 5.1 metres of 5.68% copper, 0.32 g/t gold, 18.3 g/t silver, and 510 ppm molybdenum. CB-22-83 returned 2.6 metres of 3.69% copper, 10.3 g/t silver, and 414 ppm molybdenum.
At the Main Vein above dyke, CB-22-96 returned 3.3 metres of 2.53% copper, 0.40 g/t gold and 2.1 metres of 4.73% copper, 0.23 g/t gold, 45.5 g/t silver, and 401 ppm molybdenum.
Ernest Mast, President and CEO, commented, “We have completed nearly 40,000 metres of drilling at Corner Bay in 2022, mostly infill drilling required for the feasibility study. Overall, the results confirm the continuity of the copper mineralization in the deposit. We have also identified a number of holes from 2004 with high-grade copper mineralization in the upper portion of the deposit that were not incorporated in the mineral resource. It is our intention to continue the Corner Bay infill drilling program in 2023 following the exploration drilling at the Dore Ramp and Joe Mann as detailed in the September 12, 2022 news release. Subject to improved market conditions and additional funding, we now expect to complete the feasibility study in 2024.”
The drilling program which started in early 2022 is designed to infill the Corner Bay deposit at a 50 to 60-metre spacing from surface to a depth of 1,000 metres. From today’s results, 9 holes intersected the Main Vein above the dyke and the remaining 3 holes intersected the Main Vein below the dyke. The results are continuing to confirm the continuity of the copper mineralization for the Main Vein above and below the dyke.
The results today have defined the presence and continuity of a second vein located 50 metres east of the Main Vein above the dyke. This second vein has been intersected by six drill holes to date (CB-21-53, 58, 60 and CB-22-96, 97 and 98) and remains open up-dip. Mineralization in this area appears to be parallel and controlled by mafic dykes, interpreted as originating from the Chibougamau Pluton.
Hole CB-21-53 intersected 2.0 metres of 3.34% copper, 0.56 g/t gold, and 15.6 g/t silver, hole CB-21-58 intersected 0.6 metres of 0.9% copper, and hole CB-21-60 intersected 1.6 metres of 1.27% copper.
Following a review of the required drilling for the feasibility study, the company has identified nine holes from 2004 that were excluded from the current mineral resource estimate. All holes intersected copper mineralization at a shallow depth in the two subparallel veins (Main Veins) above the dyke. Significant high-grade intercepts included CB-04-13 that returned 7.07 metres of 10.09% copper, 0.61 g/t gold. CB-04-15 returned 13.0 metres of 3.23% copper, 0.38 g/t gold. CB-04-17 returned 13.25 metres of 8.52% copper and 0.51 g/t gold.
In the Preliminary Economic Assessment, the Mineral Resource estimate (MRE) for Corner Bay contains an Indicated Resource of 2.68 Mt at 2.66% copper and 0.26 g/t gold containing 157 million pounds of copper and 22,000 ounces of gold and an Inferred Resource of 5.86 Mt at 3.43% copper and 0.27 g/t gold containing 443 million pounds of copper and 51,000 ounces of gold, based on a cut-off grade of 1.3% copper and a copper price of US$3.75/lb. The Corner Bay deposit contains significant silver and molybdenum which have not been included in the prior MREs. The feasibility study will include the addition of silver and molybdenum as by-products.
Dore 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 mill1. The corporation has delivered its PEA in May 2022 and is proceeding with a feasibility study.
Its land package includes 13 former producing mines, deposits and resource target areas within a 60-km radius of the company’s Copper Rand Mill.