TORONTO, May 14, 2020 (GLOBE NEWSWIRE) -- Doré Copper Mining Corp. (the "Company" or "Doré Copper") (TSXV: DCMC) announces that it has resumed drilling at its Cedar Bay property. The Québec Government announced that effective May 11th, 2020 exploration may resume in Québec. Guidelines given by the provincial Department of Public Health and Province’s Committee on Standards, Equity, and Occupational Safety (CNESST) will be followed by the Company and its contractors. The Company has also advised local stakeholders of its restart plans.
The two drill holes that were in progress when drilling stopped on March 24th, have resumed without incident and no changes to the Cedar Bay drill program announced on January 6th, 2020 are anticipated. The program will test the 10-20 zone at the shaft level. The 10-20 zone consists of three parallel veins where previous drilling returned numerous high-grade gold and copper intercepts including 2.4 m grading 19.5 g/t Au and 1.67% Cu in hole CDR-18-02, and 2.4 m grading 15.4 g/t Au and 4.54% Cu in hole CDR-18-03. The drill program will also test the main Cedar Bay vein at depth.
Ernest Mast, President and CEO of Doré Copper stated, “We are glad to resume our drilling program. The Cedar Bay property has the potential to be one of the highest grade, gold-copper deposits in the world and is located only five kilometers by road from the Company’s Copper Rand mill.”
The Company is using Miiken Drilling as the drilling contractor. Miiken is a joint venture between Chibougamau Diamond Drilling Ltd., the First Nations community of Ouje-Bougoumou and the First Nations community of Mistissini both located in the Eeyou Istchee territory.
The historical drilling results disclosed in this news release about Cedar Bay was taken from the technical report entitled "Technical Report on the Corner Bay and Cedar Bay Projects, Northwest Québec, Canada" dated June 15, 2019, prepared by Luke Evans, M.Sc., P.Eng., which is available under Doré Copper's profile on SEDAR at www.sedar.com.
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.
About Doré Copper Mining Corp.
Doré Copper is engaged in the acquisition, exploration and evaluation of mineral properties. Doré Copper completed a qualifying transaction on December 13, 2019, establishing itself as a copper – gold explorer and developer in the Chibougamau area of Québec, Canada. Doré Copper, through its wholly owned subsidiary CBAY Minerals Inc., holds a 100% interest in the exploration-stage Corner Bay project and the exploration-stage Cedar Bay project, both located in the vicinity of Chibougamau, Québec, as well as the 2,700-tpd Copper Rand mill. Doré Copper has an option agreement to acquire 100% of the Joe Mann property (see press release dated January 2, 2020), whereby if certain payments and spending requirements are met over a three-year period, the Corporation will become 100% owner of the 1,990-hectare Joe Mann property.
For further information, please contact:
President and Chief Executive Officer
Phone: (416) 792-2229
Cautionary Note Regarding Forward-Looking Statements
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.
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