Doré Copper Mining Corp. (the "
Company" or
"
Doré Copper") (TSXV: DCMC; OTCQX: DRCMF; FRA:
DCM) reports that it has completed its first review of the Norhart
mineralized zone, one of the priority gold targets identified on
the recently acquired 65% interest in claims surrounding the
Company’s 100% owned Joe Mann property. SOQUEM holds the remaining
35% interest in the joint venture (the “Joe Mann SOQUEM JV
Property”) (refer to news release dated January 22, 2024).
The Norhart gold occurrence is located
approximately 1 kilometer north-northeast of the former Joe Mann
mine and is easily accessible by road (Figure 1). It is comprised
of five parallel east-west, sub-vertical quartz vein structures,
each separated by approximately 50 to 150 meters, and traced over a
strike length of more than 1 kilometer. Gold mineralization
occurs in quartz shear and extensional veins with
sulphides (trace to 10%) within an altered sequence of basaltic
lava and felsic intrusions.
The Norhart zone was discovered in 1995 by
SOQUEM. From 1995 to 2005, a total of 68 diamond drill holes
totaling 18,569 meters were completed to test the mineralized
structures of Norhart over a strike length of 1.2 kilometers to a
depth of less than 400 meters. During this period, a total of five
parallel auriferous structures known as the Norhart, 2800, 3100,
3500 and 3900 zones were identified. The best gold intercepts were
encountered in the 2800 zone, located 50 meters north of the
Norhart zone and 2,800 feet (853 meters) north of the Joe Mann
shaft. The high-grade gold envelope (intercepts of > 8 g/t Au)
has a lateral extension of approximately 200 meters and remains
open below 250 meters vertical. Long sections of the 3100, 2800 and
Norhart zones (from north to south) are shown in Figure 2.
Ernest Mast, President and CEO of Doré Copper,
commented, “The Norhart high-grade gold target merits additional
exploration work. The easy access to the Norhart zones, similar
mineralogy and gold grades to Joe Mann make Norhart a potential
target into the Company’s hub-and-spoke strategy for the
Chibougamau mining camp. We plan on reviewing this target with
SOQUEM to develop a drill program that will aim at expanding the
mineralized zones and verifying historical intercepts.”
Significant historical drill intercepts of the
Norhart zones include:1
2800 Zone
- 65.85 g/t Au and 5.9 g/t Ag over
6.34 meters (H-04-579)
- 81.00 g/t Au and 1.4 g/t Ag over
1.2 meters (H-04-580)
- 26.30 g/t Au over 0.86 meter
(H-04-588)
- 6.27 g/t Au over 1.8 meters
(H-04-571)
- 9.33 g/t Au over 2.0 meters
(H-04-573)
3100 Zone
- 14.85 g/t Au over 1.4 meters
(H-04-586)
- 14.56 g/t Au over 1.09 meters
(H-04-580)
- 5.55 g/t Au over 5.5 meters
(H-572)
Norhart Zone:
- 24.65 g/t Au, 17.48 g/t Ag, and
0.79% Cu over 1.92 meters (H-04-578)
- 6.31 g/t Au over 4.75 meters
(H-05-608)
- 30.08 g/t Au over 1.0 meter
(H-569)
- 8.58 g/t Au over 2.95 meters
(H-05-604)
- 57.65 g/t Au over 0.40 meter
(H-550)
The Joe Mann Property
The Company has a controlling interest in a
contiguous group of claims totaling 6,209.2 ha surrounding the
former high-grade Joe Mann gold mine (Dore Copper has a 100%
ownership in 3,179.6 ha and a 65% ownership in 3,029.6 ha, as part
of the Joe Mann SOQUEM JV) (Figure 1). The property is located 60
kilometers south of the Company’s Copper Rand mill and part of the
southern Chibougamau mining camp where Northern Superior Resources
Inc. and IAMGOLD Corporation have identified significant gold
mineral resources.
The Joe Mann property is located in the eastern
part of the Abitibi Greenstone Belt within the upper part of the
Obatogamau Formation, within a major deformation corridor known as
the Opawica-Guercheville shear zone. The Company has a 100%
interest in the former Joe Mann mine, which produced 1.12 million
ounces of gold at an average grade of 8.26 g/t from the 1950s to
2007.1 The deposit has an inferred mineral resource of 680,000
tonnes grading 6.78 g/t Au and 0.24% Cu, which was included in the
Company’s Preliminary Economic Assessment (PEA) of its
hub-and-spoke operation announced on May 10, 2022.2
A number of gold occurrences and mineralized
zones have been identified on the Joe Mann SOQUEM JV Property. No
significant exploration work on the joint venture land has been
carried out since the late 1990s, except for the Rohault and
Norhart gold occurrences where the latest exploration activities
took place in 2005.
Disclosure
Youssouf Ahmadou, M.Sc., P.Geo., Senior
Exploration Geologist of the Company and a "Qualified Person"
within the meaning of National Instrument 43-101 – Standards of
Disclosure for Mineral Projects, has reviewed and approved the
scientific and technical information contained in this news
release.
The Qualified Person ("QP") for the Company has
not verified the historical sample analytical data disclosed within
this news release. While the Company has obtained all historic
records including analytical data from the previous owners of the
property and from various government databases, the Company has not
independently verified the results of the historic sampling.
Figure 1. Joe Mann Property - Land Tenure
Map and Main Gold Occurrences
Figure 2. Long Sections of the 3100, 2800
and Norhart Zones (from North to South)
Note: The logs indicate that the core was not sampled at (near)
piercing point on Long Section 2800.
Engagement of Arrowhead
Doré Copper has retained Arrowhead Business and
Investment Decisions, LLC (“Arrowhead”) to provide marketing
services to the Company. Arrowhead has been engaged to elevate
market and brand awareness for Doré Copper and to broaden the
Company's reach within the investment community.
Arrowhead has been engaged by the Company for an
initial period of six months starting March 15 (the “Initial Term”)
and then shall be renewed automatically for successive six-month
periods thereafter, unless terminated by the Company in accordance
with the Agreement. Arrowhead will be paid a quarterly fee of
US$25,000 during the Initial Term. Arrowhead is headquartered in
New York City and was founded in 2008.
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
Mlbs 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.2 The Company has delivered its
PEA in May 2022 and is proceeding with a feasibility study.
The Company 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.3 The land package
includes 13 former producing mines, deposits and resource target
areas within a 60-kilometre radius of the Company's Copper Rand
Mill.
About SOQUEM
SOQUEM, a subsidiary of Investissement Québec,
is dedicated to promoting the exploration, discovery and
development of mining properties in Quebec. SOQUEM also contributes
to maintaining strong local economies. A proud partner and
ambassador for the development of Quebec’s mineral wealth, SOQUEM
relies on innovation, research, and strategic minerals to be
well-positioned for the future.
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 MiningLinkedIn:
Doré Copper Mining Corp.Twitter: @DoreCopperInstagram:
@DoreCopperMining
- GM 62760: Ressources Meston Inc.
Forage Printemps et Automne 2004, Propriete Joe Mann, Secteurs
Norhart et Rohault, by Denis McNicholes, geo, dated April 8,
2005.
- 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. 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 StatementsThis 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. All statements
other than statements of historical fact included in this news
release, including, without limitation, statements with respect to
the timing and ability of the Company to receive necessary
regulatory approvals, the Company's ability to meet its production
target, the commencement, timing and completion of a feasibility
study, and the plans, operations and prospects of the Company 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
Company with securities regulators. Although the Company 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 Company 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.
Photos accompanying this announcement are available
athttps://www.globenewswire.com/NewsRoom/AttachmentNg/1355a218-2b59-4101-88e9-2202cf029da5https://www.globenewswire.com/NewsRoom/AttachmentNg/43d175ab-feac-4d81-af33-d89dd40875a0
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