Toronto, Ontario – April 23, 2021 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) has posted its fourth quarter and fiscal year 2020 financial statements and MD&A on SEDAR. The Company has also granted 1,207,000 stock options to management, directors and consultants. The stock options have an exercise price of $1.10 per share and a term of five years and have been granted in accordance with the Company’s Stock Option plan.
About Doré Copper Mining Corp.
Doré Copper Mining Corp. is a copper-gold explorer and developer in the Chibougamau area of Québec, Canada. The Corporation is focussed on implementing its hub-and-spoke development strategy by advancing its key high-grade copper-gold brownfield projects towards a restart of operations. Our goal is to achieve an annual production of 60 M lbs of copper equivalent (or 100,000 oz gold equivalent).
The Corporation has consolidated a large land package in the prolific Lac Dore/Chibougamau and Joe Mann mining camps that has produced 1.6 B lbs of copper and 4.4 M oz of gold. The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometre radius of its 2,700 tpd mill (Copper Rand Mill).
Doré Copper has resumed its drilling program for 2021 which will lead to an updated mineral resource estimate in Q2 2021 for the Corner Bay (Cu-Au) deposit and the former producing Joe Mann mine (Au-Cu), and a PEA in Q4 2021.
For further information, please visit the Corporation’s website at www.dorecopper.com or refer to Doré Copper’s SEDAR filings at www.sedar.com or contact:
Ernest Mast President and Chief Executive Officer Phone: (416) 792-2229 Email:
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.
Toronto, Ontario – April 22, 2021 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) is pleased to announce that it has qualified to trade on the OTCQX® Best Market. Doré Copper Mining Corp. upgraded to OTCQX from the OTCQB® Venture Market.
Doré Copper Mining Corp. begins trading today on OTCQX under the symbol “DRCMF”. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.
“Upgrading to the OTCQX Best Market is another important step in providing Doré Copper access to a broader US investor audience and further raising the Company’s profile as we advance our key brownfield copper-gold projects in Québec towards development and production” said Ernest Mast, President and CEO of Doré Copper.
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About Doré Copper Mining Corp.
Doré Copper Mining Corp. is a copper-gold explorer and developer in the Chibougamau area of Québec, Canada. The Corporation is focussed on implementing its hub-and-spoke development strategy by advancing its key high-grade copper-gold brownfield projects towards a restart of operations. Our goal is to achieve an annual production of 60 M lbs of copper equivalent (or 100,000 oz gold equivalent).
The Corporation has consolidated a large land package in the prolific Lac Dore/Chibougamau and Joe Mann mining camps that has produced 1.6 B lbs of copper and 4.4 M oz of gold. The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometre radius of its 2,700 tpd mill (Copper Rand Mill).
Doré Copper has resumed its drilling program for 2021 which will lead to an updated mineral resource estimate in Q2 2021 for the Corner Bay (Cu-Au) deposit and the former producing Joe Mann mine (Au-Cu), and a PEA in Q4 2021.
For further information, please visit the Corporation’s website at www.dorecopper.com or refer to Doré Copper’s SEDAR filings at www.sedar.com or contact:
Ernest Mast President and Chief Executive Officer Phone: (416) 792-2229 Email:
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.
Company invites individual and institutional investors, as well as advisors and analysts, to attend real-time, interactive presentations on VirtualInvestorConferences.com
Toronto, Ontario – April 20, 2021– Doré Copper Mining Corp. (the “Corporation” or “DoréCopper“) (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce that Ernest Mast, President and CEO, will present live on April 22 at the Virtual lnvestor Conference focused on Critical and Strategic Minerals Investment Opportunities in the Province of Québec.
This will be a live, interactive online event where investors are invited to ask the company questions in real- time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates.
About Doré Copper Mining Corp.
Doré Copper Mining Corp. is a copper-gold explorer and developer in the Chibougamau area of Québec, Canada. The Corporation is focussed on implementing its hub-and-spoke development strategy by advancing its key high-grade copper-gold brownfield projects towards a restart of operations. Our goal is to achieve an annual production of 60 M lbs of copper equivalent (or 100,000 oz gold equivalent).
The Corporation has consolidated a large land package in the prolific Lac Dore/Chibougamau and Joe Mann mining camps that has produced 1.6 B lbs of copper and 4.4 M oz of gold. The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometre radius of its 2,700 tpd mill (Copper Rand Mill).
Doré Copper has resumed its drilling program for 2021 which will lead to an updated mineral resource estimate in Q2 2021 for the Corner Bay (Cu-Au) deposit and the former producing Joe Mann mine (Au-Cu), and a PEA in Q4 2021.
For further information, please visit the Corporation’s website at www.dorecopper.com or refer to Doré Copper’s SEDAR filings at www.sedar.com or contact:
Ernest Mast President and Chief Executive Officer Phone: (416) 792-2229 Email:
Virtual Investor Conferences is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.
A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group’s suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.
For further information:
John M. Viglotti SVP Corporate Services, Investor Access OTC Markets Group Phone: (212) 220-2221 Email:
Neither TSX Venture Exchange n or 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 newsrelease.
Toronto, Ontario – April 8, 2021 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to provide an update on its exploration and development activities of its high-grade copper-gold projects in and near the Chibougamau mining camp in northwestern Québec, Canada. Exploration activities will continue into July 2021 with a plan to complete over 25,000 meters of drilling.
Ernest Mast, President and CEO, commented, “The exploration program for 2021 provides the Corporation with numerous opportunities to add value. We are confident in increasing the size of the mineral resources at Corner Bay, establishing a maiden mineral resource at Joe Mann, and confirming additional high-grade mineralization at Cedar Bay in preparation for a preliminary economic assessment of a hub-and-spoke model by Q4 2021. Our plans also include drilling the newly acquired Norbeau property and test new geological targets on our land package. The detailed geophysical survey currently underway shall give us a better understanding of our deposits and potentially provide new drilling targets for the latter half of 2021.”
Corner Bay
15,000 m drilling program in progress: 11 holes completed and a minimum of 5 holes remaining.
Target areas include: north side of Main Vein and Deep Main Vein Lens, south side of Main Vein following up on positive results from the 2020 drilling program (refer to news release dated September 17, 2020), south side of Main Vein above the dyke, and a connection of the Main Vein below the dyke with the Deep Main Vein Lens (Figure 1 shows the approximate location of the drill hole intercepts on a long section of the Corner Bay deposit).
Testing another vein structure approximately 250 meters west of the Main Vein at a depth between 200 and 500 meters.
Expecting an increase from current Mineral Resource Estimate (“MRE”) with the 2020-21 drilling campaigns.
MRE update at end of Q2 2021.
Joe Mann
Completed re-sampling of Far West Zone and expecting results in Q2 2021.
Contracting an established geological consulting firm to start a maiden MRE of the Main and West Zones. Exploration plans for 2021 will be finalized upon the results for the Far West Zone and the Joe Mann MRE.
Permitting preparation for mine dewatering is underway.
Cedar Bay
1,800 meters drilling program for Q2 2021 at the Copper Cliff crown pillar and Zone 21 (both adjacent to Cedar Bay) to follow up on positive 2020 drill results (refer to news release August 5, 2020).
Significant intercept from Copper Cliff crown pillar included 7.3% Cu and 13.6 g/t Au over a true width of 2.3 meters (hole CDR-20-04C) at a vertical depth of 34 meters.
Zone 21 is the northeasternmost vein at Cedar Bay (or the southwesternmost at Copper Cliff) and was mined over a strike length of 150-200 meters, from 85 to 490 meters from surface.
Western half of Zone 21 is on Doré Copper land. Hole CDR-20-07 intersected 2.25 meters grading 4.9% Cu, 0.46 g/t Au and 8.6 g/t Ag approximately 40 meters beneath the lowest mining level.
Permitting preparation for mine dewatering is underway.
Norbeau
3,000 metres drilling program for Q3 2021 to test the Sharpe and New veins. Significant historical intercepts included 10.8 g/t Au over 2 meters (N-81-35), 2.4 g/t Au over 14 meters (N-81-11), and 11.2 g/t Au over 2 metres, including 95.3 g/t Au over 0.2 meters (N-81-22) at the New Vein and 4.1 g/t Au over 6 meters (SH-9-85)and 4.8 g/t Au over 2.8 meters (N-98) at the Sharpe vein (refer to news release dated March 22, 2021).
Other Exploration Targets
5,400 meters drilling program at other exploration targets on its properties, which include extensions and distinct new structures near established deposits.
Geophysics
Participation in a geophysical survey whereby 5,000 ha of the Corporation’s land in the Lac Doré mining camp, including the Norbeau property, will be flown by a MAG survey by NOVATEM with a 25 meter spacing and 1,000 reading per second. This survey represents the most detailed geophysical survey ever done on Doré Copper’s properties. The survey is currently underway.
Andrey Rinta, P.Geo., the Exploration Manager 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.
From published information from the Government of Quebec, 59% of the population of Chibougamau has received vaccinations against COVID-19:
Figure 1. Approximate location of the 2021 drill hole intercepts shown on a long section of the Corner Bay deposit
About Doré Copper Mining Corp.
Doré Copper Mining Corp. is a copper-gold explorer and developer in the Chibougamau area of Québec, Canada. The Corporation is focussed on implementing its hub-and-spoke development strategy by advancing its key high-grade copper-gold brownfield projects towards a restart of operations. Our goal is to achieve an annual production of 60 M lbs of copper equivalent (or 100,000 oz gold equivalent).
The Corporation has consolidated a large land package in the prolific Lac Dore/Chibougamau and Joe Mann mining camps that has produced 1.6 B lbs of copper and 4.4 M oz of gold. The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometre radius of its 2,700 tpd mill (Copper Rand Mill).
Doré Copper has resumed its drilling program for 2021 which will lead to an updated mineral resource estimate in Q2 2021 for the Corner Bay (Cu-Au) deposit and the former producing Joe Mann mine (Au-Cu), and a PEA in Q4 2021.
For further information, please visit the Corporation’s website at www.dorecopper.com or refer to Doré Copper’s SEDAR filings at www.sedar.com or contact:
Ernest Mast President and Chief Executive Officer Phone: (416) 792-2229 Email:
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. 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.
Toronto, Ontario – March 22, 2021 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce that it has entered into option agreements (the “Option Agreements”) to acquire a 100% interest in the former producing Norbeau gold mine property and the contiguous Beaurox property, a major land position totaling approximately 1,400 hectares (the “Properties”), located 15 kilometers by road north from the Corporation’s Copper Rand mill in the Chibougamau mining camp in northwestern Québec, Canada (Figure 1). All dollar amounts are stated in Canadian Dollars.
Highlights
Cash payments totaling $465,000 over three years ($135,000 over the first year)
Issuance of common shares in the Corporation (“Shares”) totaling $675,000 equivalent over three years
Cash payments totaling $175,000 and issuance of a further $950,000 equivalent in Shares upon meeting certain technical milestones
Spending commitments of $800,000 over 30 months
Norbeau mine historical gold production of approximately 160,000 ounces (380,000 tonnes at 13.77 g/t) from 1965 to 1969; Lac Minerals sunk a 780-foot (238 meters) shaft eventually deepened to 1,580 feet (482 metres)
On the Beaurox property to the east, trenching and limited shallow drilling identified additional veins (not mined) with intercepts of 4.1 g/t Au over 6 meters and 4.8 g/t Au over 2.8 meters at the Sharpe Vein and 10.8 g/t Au over 2 meters and 2.4 g/t over 14 meters at the New Vein (composite values)
Limited or no drilling below 150-200 meters on both the Sharpe Vein and New Vein
2019 trenching at the New Vein encountered visible gold (Figure 2)
No drilling or exploration on the Properties since the late 1980’s
Ernest Mast, President and CEO, commented, “The Properties provide an opportunity to further consolidate our position in the Chibougamau mining camp with high-grade copper and gold assets and build on our strategy to create a near-term, profitable hub-and-spoke operation with our centralized 2,700 tpd mill. The high-grade gold historically mined at Norbeau with limited and no modern exploration since the 1980s provides a unique low-cost exploration opportunity, particularly to the east of the Norbeau mine with the Sharpe and New Veins.”
Next Steps
The Corporation will be completing a detailed compilation of all available data on the Properties and initially plans to investigate both the New Vein and Sharpe Vein. Doré Copper is also planning an airborne geophysical survey for the second quarter of 2021.
Option Agreements
Under the terms of the Option Agreements, the Corporation may earn a 100% interest in the Properties under the following terms:
Norbeau Property
$50,000 in cash payments and $175,000 equivalent in Shares following receipt of TSX Venture Exchange approval, $50,000 in cash payments and $75,000 equivalent in Shares on the first anniversary, $65,000 in cash payments and $100,000 equivalent in Shares on the second and third anniversaries for a total of $230,000 in cash payments and $450,000 equivalent in Shares
$100,000 in expenditures in the first 16 months and $100,000 in expenditures in the subsequent six months
$100,000 equivalent in Shares on filing a NI 43-101 Technical Report with mineral resources and a further $250,000 equivalent in Shares if the mineral resources (all categories) exceed 300,000 ounces of gold
$150,000 equivalent in Shares on commencement of commercial production and a further $350,000 equivalent in Shares after production of 100,000 ounces of gold
2% net smelter return (“NSR”) royalty, of which 1% may be bought back for $2,000,000
Beaurox Property
$35,000 in cash payments and $25,000 equivalent in Shares following receipt of TSX Venture Exchange approval, $50,000 in cash payments and $50,000 equivalent in Shares on the six-month anniversary, and on the first, second and third anniversaries for a total of $235,000 in cash payments and $225,000 equivalent in Shares
$300,000 in expenditures in the first 18 months and $300,000 in expenditures in the subsequent six months
$75,000 in cash payments on commencement of drilling and $100,000 in cash payments after completion of 5,000 meters
5,000 meters of drilling or cumulative equivalent expenditures prior to the third anniversary
$100,000 equivalent in Shares on filing a NI 43-101 Technical Report with mineral resources
$150,000 equivalent in Shares on commencement of commercial production
2% NSR royalty, of which 0.75% may be bought back for $3,000,000, and approximately $60,000 in advance royalty payments commencing in year three
The terms and conditions of the Option Agreements are subject to the receipt of all necessary approvals, including the acceptance of the TSX Venture Exchange. Shares issued pursuant to the Option Agreements will be subject to a four month hold period under applicable Canadian securities laws.
About the Properties
The Beaurox property is comprised of 28 unpatented mining claims covering approximately 1,000 hectares and the Norbeau property is comprised 11 claims totaling 386 hectares.
Norbeau Mine (see Note 1)
The Norbeau mine historically produced approximately 160,000 ounces of gold from 1965 to 1969 at a grade of 13.77 g/t Au. Approximately 80% of the production was from the Main Vein (Vein #1) and 20% from Vein #4. The shaft extends to 1,580 feet (482 metres) with 10 levels but little or no development on the last two levels. In 1980-81, the Norbeau mine was dewatered to a depth of 1,580 feet and 13 underground holes totaling 762.2 meters were completed to test Vein #9, a low-grade east-west structure in the footwall of the lower level stopes. In 1987, Westminer Mines Ltd. completed six surface drill holes totaling 3,426 meters to intersect the extension of Vein #4 below the 10th level of the mine. Vein #4 was not intersected but new gold-bearing veins were found in the upper levels and below the 10th level. The best intercept of the program returned 9.09 g/t over 2.6 meters (0.265 oz/t over 8.6 ft) in Vein #9 from 1,265.8 to 1,274.4 feet. No other work is reported after this period at the Norbeau mine.
New Vein (see Note 2)
The New Vein (also referred to as the Shecapio Vein), located approximately 500 meters east of the Norbeau shaft, was discovered in 1980 and outcrops over a length of approximately 250 meters with an average width of 3 meters. During 1980-81, the New Vein was channel sampled and 42 short surface drill holes totaling 2,900 meters were completed along an east-west strike length of 300 meters. Significant intercepts included 10.8 g/t Au over 2 meters (N-81-35), 2.4 g/t Au over 14 meters (N-81-11), and 11.2 g/t Au over 2 metres, including 95.3 g/t Au over 0.2 meters (N-81-22). The New Vein has not been drill tested at depths below 100-150 meters.
Sharpe Vein (see Note 3)
The east-west Sharpe Vein, located a further 500 meters to the east, was channel sampled over the 203.8 meters length of the vein exposure by Beaurox Mines Limited in 1982. The grade was established at 6.86 g/t (0.20 oz/t) Au over an average width of 2.9 meters (undiluted and all samples cut to 1.00 oz/t Au), including 124.8 meters grading 8.23 g/t (0.24 oz/t) Au over an average width of 3.29 meters. In 1985, a systematic re-sampling of the Sharpe Vein was carried out with 87 channel samples and 21 holes totaling 1,128 meters over a strike length of approximately 350 meters (including 18 short holes totaling 873.9 meters on 50 feet sections testing 50 feet below surface). Significant intercepts included 4.1 g/t Au over 6 meters (SH-9-85)and 4.8 g/t Au over 2.8 meters (N-98). In 1987, two holes totaling 354.8 meters were drilled to test the Sharpe Vein to a depth of 100 meters with no significant gold intercepts. The Sharpe Vein has not been drill tested at depths below 100-150 meters.
Vein #5 (see Note 4)
Other veins include Vein #5, which is located at the west end of the Sharpe Vein and strikes northwest. In 1985, seven holes were drilled over a strike length of 140 meters. The best value was 5.0 g/t (0.146 oz/t) Au over 1 meter (hole 5-4-85). Vein #5 was channel sampled fairly systematically over a strike length of 45 meters in 2015. The sampling returned an average of 6.84 g/t Au over a length 45.4 meters with average widths of 1.61 meters.
Reference Notes
Historical production from the Norbeau mine and historical channel sampling and drilling results disclosed in this news release on the Properties are taken from the following sources:
Ministry of Energy and Natural Resources, SIGEOM Database file GM46081 – Progress Report on the 1987 Norbeau Mine Exploration Program by Luke Evans, B.A.Sc., M.Sc., April 1987
Ministry of Energy and Natural Resources, SIGEOM Database file GM39252 – Diamond Drill Record, Norbeau Property (1981) and GM39252PLAN_1-2
Ministry of Energy and Natural Resources, SIGEOM Database file GM43254 – Diamond Drilling Program on the Sharpe Vein, Norbeau Property by Jean-Pierre Berube, Ing., December 1985
Ministry of Energy and Natural Resources, SIGEOM Database file GM69396 – 2015 Exploration Program, Limited Channel Sampling on the No. 5 Vein, Norbeau Property Vein (Preliminary Compilation of Data) Beaurox Mines Ltd. Mining Claims (Dave Malouf), Norbeau Property by Claude P. Larouche, Ing., December 2015
The scientific and technical information in this news release has been reviewed and approved by Andrey Rinta, P.Geo., Exploration Manager of the Corporation, who is a “Qualified Person” within the meaning of National Instrument 43-101.
Figure 1: Location Map of the Norbeau and Beaurox Properties
Figure 2: Visible Gold from the New Vein Trench (source: D. Malouf, 2018)
About Doré Copper Mining Corp.
Doré Copper Mining Corp. is a copper-gold explorer and developer in the Chibougamau area of Québec, Canada. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau mining camp that has historically produced 1.6 B lbs of copper and 3.2 M oz of gold. In addition, the Corporation has optioned the high-grade Joe Mann gold mine (historical production 1.17 M oz at 8.26 g/t Au). The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometer radius of the Corporation’s 2,700 tpd mill (Copper Rand Mill).
The Corporation’s current focus is to grow mineral resources and re-develop the high-grade Corner Bay (Cu-Au), Cedar Bay (Au-Cu), and Joe Mann (Au) deposits. The Corporation has resumed its drilling program starting at Corner Bay, which will lead to an updated mineral resource estimate in Q2 2021 and a PEA in H2 2021.
For further information, please visit the Corporation’s website at www.dorecopper.com or refer to Doré Copper’s SEDAR filings at www.sedar.com or contact:
Ernest Mast President and Chief Executive Officer Phone: (416) 792-2229 Email:
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. 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.
Toronto, Ontario – March 5, 2021 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce its preparation plans for the dewatering of the former Joe Mann and Cedar Bay mines which closed in 2007 and 1990, respectively.
The Company recently conducted water sampling tests down each shaft which returned positive results:
Cedar Bay Mine Sampling (November 2020):
The Cedar Bay mine ceased operations in 1990 after having produced 3.9 million tonnes (Mt) of ore grading 1.63% Cu and 3.21 g/t Au.
Water was sampled down the shaft every 100 meters down to the deepest development level of 760 meters for a total of seven samples. Video inspection of the shaft indicated no deformation with rails intact and in place. The average pH was 6.52, mildly acidic or near neutral (pure water has a pH of 7.0). Heavy metals were low in concentration with many metals below detection limits. The characterization demonstrated the presence of dissolved solids that will also need to be considered in the selection of the water treatment system for dewatering.
Joe Mann Mine Sampling (February 2021):
The Joe Mann mine ceased operation in 2007 after having produced 1.2 million ounces of gold (4.75 Mt of ore grading 8.26 g/t Au and 0.25% Cu).
Water was sampled down the shaft every 100 meters down to the deepest development level of 1,150 meters for a total of 12 samples. Video inspection indicated that the shaft is in excellent condition. The average pH was 7.35, indicating a slightly basic water chemistry. Heavy metals were low in concentration with many metals below detection limits. Copper and zinc concentrations were below detection limits in the majority of the samples. The characterization also demonstrated the presence of dissolved solids in this shaft, which will have to be considered in the choice of the water treatment system.
Ernest Mast, President and CEO, stated: “We are greatly encouraged by the good condition of the shafts and benign water characteristics in both mines. Following completion of the dewatering assessment, we will be in a position to make a decision on the dewatering of these mines. The dewatering would provide Doré Copper underground access to the lowest levels of the mines and accelerate our exploration and development timeline while lowering our drilling costs and improving drilling accuracy.”
Following the positive results of the water samples, Doré Copper will commence the design of the dewatering programs. This assessment will include the costs and timelines of the dewatering, water treatment process, final treated water destination and precipitate disposal for each mine. The work is expected to be completed by year-end.
Concurrently with the assessment, the Corporation will be submitting in April an application for attestation of exemption (demande d’attestation de non-assujettissement) to the Québec Ministry of Environment and Fight Against Climate Change. Subject to this approval, the Company would proceed to the second step, which is the application to the regional MELCC under Article 22. It is expected that approval would be received within six to eight months.
The Corporation contracted BluMetric Environmental Inc. out of Montreal to sample and analyze the water from both shafts.
Ernest Mast, Eng., President and CEO of the Company and a “Qualified Person” within the meaning of National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
New Appointment
Doré Copper has appointed Emilie Belanger as Manager Environment and Permitting. Ms. Belanger is an environment and sustainability professional with 20 years of experience in the mining industry. She founded Envirosynergie Services in 2014, which was subsequently acquired by GCM Consultants, where she remained until recently as Director of Environmental Services. Prior, she worked at Quebec Lithium as Environmental Superintendent and at Genivar as Assistant Director of the ATNQ (Abitibi-Témiscamingue et le Nord-du-Québec) Environmental Department. Ms. Belanger is very familiar with the “brownfield” assets of Dore Copper having worked for four years in the Environmental Department at Campbell Resources’ operations in the Chibougamau area.
About Doré Copper Mining Corp.
Doré Copper Mining Corp. is a copper-gold explorer and developer in the Chibougamau area of Québec, Canada. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau mining camp that has historically produced 1.6 B lbs of copper and 3.2 M oz of gold. In addition, the Corporation has optioned the high-grade Joe Mann gold mine (historical production 1.17 M oz at 8.26 g/t Au). The land package includes 12 former producing mines, deposits and resource target areas within a 60-kilometer radius of the Corporation’s 2,700 tpd mill (Copper Rand Mill).
The Corporation’s current focus is to grow mineral resources and re-develop the high-grade Corner Bay (Cu-Au), Cedar Bay (Au-Cu), and Joe Mann (Au) deposits. The Corporation has resumed its drilling program starting at Corner Bay, which will lead to an updated mineral resource estimate in Q2 2021 and a PEA in H2 2021.
For further information, please visit the Corporation’s website at www.dorecopper.com or refer to Doré Copper’s SEDAR filings at www.sedar.com or contact:
Ernest Mast President and Chief Executive Officer Phone: (416) 792-2229 Email:
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Corporation to close a second tranche of the Offering, the timing and ability of the Corporation to receive necessary regulatory approvals, including the final acceptance of the TSX Venture Exchange, and the plans, operations and prospects of the Corporation. 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 the 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: general business, economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals; the price of gold and copper; and the results of current exploration. 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.
Not for distribution to United States news wire services or for dissemination in the United States
Toronto, Ontario – February 18, 2021 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce that it has closed its previously announced “best efforts” private placement (the “Offering“), pursuant to which the Corporation sold an aggregate of 12,221,000 common shares of the Corporation that will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Flow-Through Shares“) at a price of C$0.90 per Flow-Through Share for aggregate gross proceeds of C$10,998,900, including the full exercise of the agents’ option. With the closing of this Offering, the Corporation now has 53,158,668 common shares outstanding.
Ernest Mast, President and CEO, stated: “With this funding, Doré Copper’s cash balance totals approximately C$16 million, providing ample funds for the Corporation to continue exploration and advance its key high-grade copper-gold projects in Chibougamau, Québec to a PEA (Preliminary Economic Assessment) later this year that envisions a hub-and-spoke operation feeding a centralized mill. We are also pleased to announce that several established mining entrepreneurs were involved in the Offering, resulting in a meaningful share position in the Corporation. These investors have indicated that they share the Corporation’s vision of building a new and significant Canadian-based copper-gold mining company and will help in providing strategic advice to the Corporation in achieving that vision.”
Cormark Securities Inc. and Paradigm Capital Inc. acted as agents (the “Agents“) in connection with the Offering pursuant to the terms of an agency agreement dated February 18, 2021. In consideration for their services in connection with the Offering, the Corporation paid the Agents a cash commission equal to $659,934 representing 6% of the aggregate gross proceeds from the sale of Flow-Through Shares.
The Corporation will use an amount equal to the gross proceeds received by the Corporation from the sale of the Flow-Through Shares, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” as both terms are defined in the IncomeTaxAct(Canada) (the “QualifyingExpenditures“) on or before December 31, 2022, and will renounce all of the Qualifying Expenditures in favour of the purchasers of the Flow-Through Shares effective December 31, 2021. The Corporation will shortly announce its drilling plans for the next two quarters based on the funds available from the recent financings.
The Offering was made by way of private placement in Canada pursuant to applicable exemptions from the prospectus requirements under applicable Canadian securities laws. The securities issued under the Offering are subject to a hold period under applicable Canadian securities laws which will expire on June 19, 2021. The Offering is subject to final acceptance of the TSX Venture Exchange.
The securities offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.
About Doré Copper Mining Corp.
Doré Copper Mining Corp. is a copper-gold explorer and developer in the Chibougamau area of Québec, Canada. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau mining camp that has historically produced 1.6 B lbs of copper and 3.2 M oz of gold. In addition, the Corporation has optioned the high-grade Joe Mann gold mine (historical production 1.17 M oz at 8.26 g/t Au). The land package includes 12 former producing mines, deposits and resource target areas within a 60 kilometre radius of the Corporation’s 2,700 tpd mill (Copper Rand Mill).
The Corporation’s current focus is to grow mineral resources and re-develop the high-grade Corner Bay (Cu-Au), Cedar Bay (Au-Cu), and Joe Mann (Au) deposits. The Corporation has resumed its drilling program starting at Corner Bay, which will lead to an updated mineral resource estimate in Q2 2021 and a PEA in H2 2021.
For further information, please visit the Corporation’s website at www.dorecopper.com or refer to Doré Copper’s SEDAR filings at www.sedar.com or contact:
Ernest Mast President and Chief Executive Officer Phone: (416) 792-2229 Email:
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Corporation to close a second tranche of the Offering, the timing and ability of the Corporation to receive necessary regulatory approvals, including the final acceptance of the TSX Venture Exchange, and the plans, operations and prospects of the Corporation. 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 the 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: general business, economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals; the price of gold and copper; and the results of current exploration. 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.
Not for distribution to United States news wire services or for dissemination in the United States
TORONTO, Jan. 27, 2021 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSX-V:DCMC; OTCQB:DRCMF; FRA:DCM) is pleased to announce that it has entered into an agreement with Cormark Securities Inc., as lead agent, on behalf of itself and a syndicate including Paradigm Capital Inc. (collectively, the “Agents“), in connection with a “best efforts” private placement (the “Offering“) of up to 11,110,000 common shares of the Corporation that will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Flow-Through Shares“) at a price of C$0.90 per Flow-Through Share for aggregate gross proceeds of up to C$9,990,000.
The Corporation has also granted the Agents an option, exercisable in whole or in part at any time up to 48 hours prior to closing of the Offering, which will allow the Agents to sell up to an additional 10% of the Flow-Through Shares on the same terms.
The Corporation is pleased to announce that the Agents have advised the Corporation that a number of well-known, strategic mining industry participants may be involved in the Offering.
Ernest Mast, President and CEO of Doré Copper, stated: “Following the successful 2020 drilling campaigns at Corner Bay, Cedar Bay and Joe Mann that are supporting our hub-and-spoke model, this flow-through private placement of approximately C$10 million with our current working capital of approximately C$6 million will provide the Corporation with significant resources to further advance our core projects. The Corporation will start a detailed evaluation of dewatering both the Joe Mann and Cedar Bay former mines which will permit underground access for continued exploration. The funds will also be used to commence blue-sky exploration on other promising targets, including the Lac Doré, Copper Rand North, Devlin Extension, Gwillim, and Portage Island, all in the Chibougamau mining camp. In this strong gold and copper market environment, we plan to deliver a strong PEA in H2 2021 that will lead to more advanced technical and economic studies.”
The Corporation will use an amount equal to the gross proceeds received by the Corporation from the sale of the Flow-Through Shares, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” as both terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures“) on or before December 31, 2022, and to renounce all the Qualifying Expenditures in favour of the subscribers of the Flow-Through Shares effective December 31, 2021.
The Offering is expected to close on or about February 18, 2021 and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals, including the acceptance of the TSX Venture Exchange. The Offering is being made by way of private placement in Canada. The securities issued under the Offering will be subject to a hold period in Canada expiring four months and one day from the closing date of the Offering.
The securities offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.
About Doré Copper Mining Corp.
Doré Copper Mining Corp. is a copper-gold explorer and developer in the Chibougamau area of Québec, Canada. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau mining camp that has historically produced 1.6 B lbs of copper and 3.2 M oz of gold. In addition, the Corporation has optioned the high-grade Joe Mann gold mine (historical production 1.17 M oz at 8.26 g/t Au). The land package includes 12 former producing mines, deposits and resource target areas within a 60 kilometre radius of the Corporation’s 2,700 tpd mill (Copper Rand Mill).
The Corporation’s current focus is to grow mineral resources and re-develop the high-grade Corner Bay (Cu-Au), Cedar Bay (Au-Cu), and Joe Mann (Au) deposits. The Corporation has resumed its drilling program starting at Corner Bay with approximately 6,000 meters of drilling, which will lead to an updated mineral resource estimate in Q2 2021 and PEA in H2 2021.
For further information, please visit the Corporation’s website at www.dorecopper.com or refer to Doré Copper’s SEDAR filings at www.sedar.com or contact:
Ernest Mast President and Chief Executive Officer Phone: (416) 792-2229 Email:
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Corporation to close a second tranche of the Offering, the timing and ability of the Corporation to receive necessary regulatory approvals, including the final acceptance of the TSX Venture Exchange, and the plans, operations and prospects of the Corporation. 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 the 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: general business, economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals; the price of gold and copper; and the results of current exploration. 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.
10.34 g/t GOLD AND 0.27% COPPER OVER 4.0 METERS AT WEST ZONE
10.00 g/t GOLD OVER 3.0 METERS AT FAR WEST ZONE
Toronto, Ontario – January 25, 2021 – Doré Copper Mining Corp. (the “Company” or “Doré Copper“) (TSXV: DCMC; OTCQB: DRCMF; FRA: DRM) is pleased to announce results from its 2020 drilling program at the Joe Mann property located approximately 60 kilometers south of Chibougamau, Québec.
The Joe Mann property comprises 1,990 hectares and includes the Joe Mann former producing mine, which is under an option agreement announced on January 2, 2020. The Joe Mann mine was one of the highest-grade gold mines in Canada, producing 1.2 million ounces of gold at a grade 8.26 g/t between 1956 and 2007. It is located approximately 60 kilometers south of the Company’s Copper Rand mill (2,700 tpd), where the ore from Joe Mann was processed from 2004 until its closure in 2007.
2020 Drilling Highlights
West Zone: 4.0 meters of 10.34 g/t Au and 0.27% Cu in hole JM-20-06W3,extending mineralization 100 meters down plunge from historical intercepts of 5.0 meters of 10.3 g/t Au, 3.2 meters of 16.1 g/t Au, and 3.3 meters of 10.4 g/t Au
Main Zone: 1.3 meters of 6.32 g/t Au and 0.52% Cu, including 0.45 meter of 17.7 g/t Au and 1.23% Cu in hole JM 20-02A, confirming the extension of the Main zone below previously mined levels. This intercept is located 120 meters up-dip from historical intercept of 1.88 meters of 26.66 g/t Au and 110 meters from historical intercept of 3.02 meters of 30.3 g/t Au.
Far West Zone: 3.0 meters of 10.00 g/t Au in hole JM-20-10, approximately 900 meters along strike from the western extent of the Joe Mann mine
Ernest Mast, President and CEO of Doré Copper stated, “Our first drilling program at Joe Mann was successful in demonstrating the high-grade downdip extension of the West Zone, the continuity of the Main Zone and the high-grade potential of the Far West Zone. These results support additional exploration efforts on the property and provide a high-grade gold project that can be paired with the high-grade copper Corner Bay project for our hub-and-spoke strategy. The Company is planning a follow up drilling program at Joe Mann later in 2021 and has now resumed its drilling activities at Corner Bay with a 6,000 meter program. In 2021, the Company also plans to test other exploration targets in the Lac Doré/Chibougamau mining camp. An update to the current mineral resource estimate is expected in Q2 2021 followed by a Preliminary Economic Assessment (“PEA”) in H2 2021 to support a hub-and-spoke operation using our existing 2,700 tpd mill with Corner Bay as the primary feed to the mill.”
2020 Joe Mann Drilling Program
The Company drilled a total of 8,343 meters testing the former producing Joe Mann mine Main Zone and West Zone below the underground workings, the Far West Zone and the South South Zone (Figure 1). The West Zone is 100% owned by the Company starting at 842 meters below surface (dipping into the property boundary) and the other areas are part of the option agreement with Ressources Jessie Inc. The results from the drilling program are summarized below in Table 1.
West Zone (Figure 2)
The West Zone was mined from 2004 to 2007 up to a depth of 890 meters and has approximately 100 historic intercepts drilled from underground.
The Company drilled four (4) holes, one near-vertical hole (JM-20-06) and three wedges from that hole (with two using directional drilling) (JM-20-06W1, JM-20-06W2 and JM-20-06W3) to test the extension of the West Zone at a depth of 270 to 400 meters below the mined area. All four (4) holes intersected mineralized shear zones.
Hole JM-20-06W3 intersected 4.0 meters of 10.34 g/t Au and 0.27% Cu and at a further 11 meters downhole intersected 0.5 meter of 13.70 g/t Au and 0.42% Cu. These two intercepts are located 100 meters down plunge from the historical intercepts of 5.0 meters of 10.3 g/t Au (hole EW78_D), 3.2 meters of 16.1 g/t Au (hole EW79_D), and 3.3 meters of 10.4 g/t Au (hole EW57_D). It is interpreted that both JM-20-06 and JM-20-06W1 intercepted the structure to the west of the ore plunge structure and therefore did not carry high-grade gold mineralization. Hole JM-20-06W2 intersected the well-defined West Zone structure a further 100 meters down dip from hole JM-20-06W3, but with weaker gold mineralization: 1.35 meters of 3.29 g/t Au.
Main Zone (Figures 3 and 4)
The Main Zone was drilled with two (2) holes to test the continuity of the gold mineralization identified with two high-grade historical intercepts that are 150 meters apart and located approximately 170 meters beneath the lowest mining level (1,050 meters) of the Joe Mann mine. These two prior holes were drilled in 2008 after the mine had ceased operations and intersected 3.02 meters of 30.3 g/t Au and 1.30% Cu (hole EE-188) and 1.88 meters of 26.66 g/t Au and 0.40% Cu (hole EE-189B). The Company collared the holes on land part of a JV between Ressources Jessie (65%) and SOQUEM (35%) and drilled south towards the Main Zone. The holes encountered strong deviation and directional drilling was used to guide the holes to the target areas.
Hole JM-20-02A intersected the Main Zone shear zone approximately 120 meters up-dip from these two historical intercepts mentioned above. The shear zone returned two intercepts of 1.3 meters of 6.32 g/t Au and 0.52% Cu, including 0.45 meter of 17.7 g/t Au and 1.23% Cu; and 5.95 meters of 2.29 g/t Au, including 1.7 meters of 5.64 g/t Au. In addition, this same hole intersected 0.4 meter of 33.2 g/t Au in an unidentified zone above the Main Zone. The second hole (JM-20-07) intersected the Main Zone at approximately 100 meters below hole EE-189B with an intercept of 2.5 meters of 1.87 g/t Au within a wider, weakly mineralized shear zone of 20 metres.
Far West Zone (Figure 5)
The Far West Zone is located approximately 900 meters west along strike from the westernmost part of the Main Zone of the Joe Mann mine. Historically, the Far West zone was accessed by the Uddlen ramp to the west and an exploration drift at a depth of 137 meters. The Far West Zone (the horse tailing of the Joe Mann structure at the west end) is characterized by very heterogeneous gold distribution, nuggety in nature, and historically has returned some shallow, very high-grade gold intercepts including: 3.81 meters of 20.8 g/t Au (hole H214), 3.26 meters of 107.0 g/t Au (hole H118), and 3.53 meters of 39.2 g/t Au (hole H258).
The Company completed four (4) holes totaling 1,230 meters with the objective of confirming high-grade mineralized zones. The drilling confirmed the nuggety nature of the Far West Zone with three holes intersecting gold mineralization. The best intercepts returned 8.5 meters of 3.92 g/t Au (including 3.0 meters of 10.0 g/t Au, which included 0.7 meter of 35.2 g/t Au), and 0.5 meter of 9.2 g/t Au in hole JM-20-10. Other highlights included: 0.4 meter of 8.45 g/t Au, 0.6 meter of 5.79 g/t Au, and 0.4 meter of 40.8 g/t Au and 0.60% Cu in hole JM-20-11 and 0.45 meter of 5.97 g/tAu in hole JM-20-09.
The Company is embarking on a more detailed review of the new and historical data of the Far West Zone to better understand the nuggety nature of the mineralization prior to determining the next steps for future exploration plans. The remaining half of the core from these holes will be sent to the laboratory for screen metallics and leachwell analysis to better understand the heterogeneity of the mineralization (nugget effect).
South South Zone
The South South zone is approximately 300 meters south of the Main Zone. The structure is exposed at surface and historically 14 holes were drilled over a strike length of approximately 1 kilometer. The Company completed three (3) holes totaling 402 meters on the west side of Lake Norhart to follow up on an historical intercept of 0.8 meter at 32.0 g/t Au at a downhole depth of 18 meters (hole H349). The results indicated weak gold mineralization near-surface and did not replicate the high-grade gold intercept.
Table 1. Joe Mann Property – Summary of 2020 Drilling Program Results
Table 1. Joe Mann Property – Summary of 2020 Drilling Program Results
Hole #
Zone
From(m)
To (m)
Width(m)
Au (g/t)
Cu (%)
JM-20-02A
Main (unidentified)
1,213.3
1,213.7
0.40
33.2
0.03
Main
1,258.35
1,259.65
1.3
6.32
0.52
including
1,258.35
1,258.8
0.45
17.7
1.23
Main
1,276.5
1,282.45
5.95
2.29
0.04
including
1,276.5
1,278.2
1.7
5.64
0.02
JM-20-03
South South
18.0
24.0
6.0
0.62
0.01
JM-20-04
South South
NSI
JM-20-05
South South
16.6
21.0
4.4
0.80
0.02
South South
129.0
130.8
1.8
1.92
0.04
JM-20-06
West (unidentified)
906.0
907.0
1.0
4.63
0.03
JM-20-06W1
West (unidentified)
940.8
941.5
0.7
4.34
0.15
West (unidentified)
862.7
866.7
4.0
3.60
0.01
JM-20-06W2
West
1,241.6
1,242.95
1.35
3.29
0.04
JM-20-06W3
West
1,174.4
1,178.4
4.0
10.34
0.27
West
1,188.7
1,189.2
0.5
13.70
0.42
JM-20-07
Main
1,357.9
1,360.4
2.5
1.87
0.02
JM-20-08
Far West
NSI
JM-20-09
Far West
171.5
179.9
1.9
0.60
0.49
Far West
188.55
189.0
0.45
5.97
0.20
JM-20-10
Far West
204.5
213.0
8.5
3.92
0.08
including
206.5
209.5
3.0
10.0
0.08
incl.
208.8
209.5
0.7
35.2
0.11
Far West
235.5
236.0
0.5
9.20
0.13
JM-20-11
Far West
120.4
120.8
0.4
8.45
0.04
Far West
263.6
264.2
0.6
5.79
0.19
Far West
305.5
305.9
0.4
40.8
0.60
Note: NSI indicate no significant intercepts. True widths are estimated to be 57-68% for West Zone and 75% for Main Zone. No true width could be determined for the Far West Zone or the South South zone.
Figure 1. Joe Mann Property – 2020 Drill Hole Location Map
Figure 2. Joe Mann West Zone Long Section (starting at 400 meters below surface)
Figure 3. Joe Mann Main Zone Long Section
Figure 4. Joe Mann Main Zone Cross-Section
Figure 5. Joe Mann Far West Zone Cross-Section
Drilling and Quality Control
The Company is using Miikan Drilling as the drilling contractor. Miikan is a joint venture between Chibougamau Diamond Drilling Ltd., the First Nation community of Ouje-Bougoumou and the First Nation community of Mistissini, both located in the Eeyou Istchee territory.
Sample preparation and assays are done at SGS lab in Val-d’Or, Québec. Samples were weighed, dried, crushed to 75% passing 2 mm, split 250 g, pulverized to 85% passing 75 microns. Samples were then fire assayed for Au (30 g) and sodium peroxide fusion ICP-MS finish for 34 elements.
The Quality Assurance and Quality Control (QA/QC) is done by Doré Copper geologists with oversight from the Exploration Manager. The check samples (blanks and standards – 4% of total samples with another 2% of core duplicates) that were inserted into the sample batches are verified against their certified values and are deemed a pass if they are within 3 standard deviations of the certified value. The duplicates are evaluated against each other to determine mineralization distribution (nugget effect). If there are large discrepancies in the check samples, then the entire batch is requested to be re-assayed.
Historical drilling results disclosed in this news release on the Joe Mann property are taken from the historical database of the Joe Mann mine based on the original drill logs (UG and surface exploration drilling) and from the NI 43-101 Technical Report on the Joe Mann Property dated January 11, 2016 by Geologica Groupe-Conseil Inc. for Jessie Ressources Inc.
Andrey Rinta, P.Geo., the Exploration Manager of the Company 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
Doré Copper Mining Corp. is a copper-gold explorer and developer in the Chibougamau area of Québec, Canada. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau mining camp that has produced 1.6 B lbs of copper and 3.2 M oz of gold. In addition, the Company has optioned the high-grade Joe Mann gold mine (production 1.17 M oz at 8.26 g/t Au). The land package includes 12 former producing mines, deposits and resource target areas within a 60 kilometer radius of the Company’s 2,700 tpd mill (Copper Rand Mill).
The Company’s current focus is to grow mineral resources and re-develop the high-grade Corner Bay (Cu-Au), Cedar Bay (Au-Cu), and Joe Mann (Au) deposits. The Company has resumed its drilling program starting at Corner Bay with approximately 6,000 meters of drilling, which will lead to an updated mineral resource estimate in Q2 2021 and PEA in H2 2021.
For further information, please visit the Corporation’s website at www.dorecopper.com or refer to Doré Copper’s SEDAR filings at www.sedar.com or contact:
For further information, please contact:
Ernest Mast President and Chief Executive Officer Phone: (416) 792-2229 Email:
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Corporation to close a second tranche of the Offering, the timing and ability of the Corporation to receive necessary regulatory approvals, including the final acceptance of the TSX Venture Exchange, and the plans, operations and prospects of the Corporation. 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 the 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: general business, economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals; the price of gold and copper; and the results of current exploration. 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.
Toronto, Ontario – January 22, 2021 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce, further to its news releases dated December 9, 2020, December 11, 2020 and December 24, 2020, that it has closed the final tranche of its previously announced non-brokered private placement (the “Offering“), pursuant to which the Corporation sold an aggregate of 2,999,622 common shares in the capital of the Corporation (“Offered Shares“) at a price of C$0.68 per Offered Share for aggregate gross proceeds of C$2,039,742.96. Together with the first tranche of the Offering, the Corporation sold an aggregate of 8,800,000 common shares in the capital of the Corporation under the Offering for aggregate gross proceeds of C$5,984,000. With the close of this Offering, the Corporation now has 40,937,668 common shares outstanding.
Paradigm Capital Inc., Cormark Securities Inc. and Canaccord Genuity Corp. acted as finders (each, a “Finder“) in connection with the final tranche of the Offering. In consideration for acting as a finder in connection with the final tranche of the Offering, the Corporation paid an aggregate of C$31,048.80 in cash finder’s fees to the Finders, representing 6% of the gross proceeds of the Offered Shares that were sold to subscribers introduced by such parties, and issued an aggregate of 45,660 non-transferable warrants (the “Finder’s Warrants“) to purchase common shares in the capital of the Corporation (the “Finder’s Warrant Shares“) to the Finders, representing 6% of the Offered Shares that were sold to subscribers introduced by such parties, with each Finder’s Warrant being exercisable for one Finder’s Warrant Share at a price of C$0.68 per Finder’s Warrant Share until January 22, 2023. In addition to the finder’s fees, the Corporation also paid administrative fees in the amount of C$49,499.97 in respect of three subscriptions under the Offering.
The Corporation intends to use the net proceeds from the Offering to fund project milestone payments, exploration and development activities and general working capital expenses.
The securities issued in connection with the closing of the final tranche of the Offering are subject to a hold period under applicable Canadian securities laws which will expire on May 23, 2021. The Offering is subject to the final acceptance of the TSX Venture Exchange.
The securities offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.
About Doré Copper
Doré Copper Mining Corp. is a copper-gold explorer and developer in the Chibougamau area of Québec, Canada. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau mining camp that has historically produced 1.6 B lbs of copper and 3.2 M oz of gold. In addition, the Corporation has optioned the high-grade Joe Mann gold mine (historical production 1.17 M oz at 8.26 g/t Au). The land package includes 12 former producing mines, deposits and resource target areas within a 60 kilometre radius of the Corporation’s 2,700 tpd mill (Copper Rand Mill).
The Corporation’s current focus is to grow mineral resources and re-develop the high-grade Corner Bay (Cu-Au), Cedar Bay (Au-Cu), and Joe Mann (Au) deposits. The Corporation has resumed its drilling program starting at Corner Bay with approximately 6,000 meters of drilling, which will lead to an updated mineral resource estimate in Q2 2021 and PEA in H2 2021.
For further information, please contact:
Ernest Mast President and Chief Executive Officer Phone: (416) 792-2229 Email:
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Corporation to close a second tranche of the Offering, the timing and ability of the Corporation to receive necessary regulatory approvals, including the final acceptance of the TSX Venture Exchange, and the plans, operations and prospects of the Corporation. 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 the 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: general business, economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals; the price of gold and copper; and the results of current exploration. 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.
