- Doré Copper (DCMC) announces 2022 drilling program at flagship Corner Bay and Devlin Projects
- It has started a 45,000 meter drilling program at flagship Corner Bay project with two drills, both infilling the deposit at a 60 meter spacing
- The objective of this $7.0 million drilling program is to convert a significant proportion of the underground Inferred resources to the Indicated category
- Drilling will also aim at extending some known copper mineralized zones at Corner Bay
- Doré Copper finished 2021 with approximately $14.1 million in working capita
- Doré Copper Mining Corp. (DCMC) is down 1.43 per cent, trading at C$0.69 at 1:@1 pm EST
Doré Copper Mining Corp. (DCMC) has announced a 50,000-meter drilling program at the Corner Bay and Devlin projects.
The programs will focus primarily on resource category conversion and test a number of exploration targets on the property.
The projects are located in the Chibougamau mining camp, less than 55 kilometres by road from the corporation’s Copper Rand mill, near Chibougamau, Québec.
“A third drill is expected to arrive in early February. In addition, there will be an infill drilling program of approximately 5,000 meters at the nearby Devlin project,” stated Ernest Mast, President and CEO of Doré Copper.
“We expect to have an excellent resource conversion rate from the Inferred to Indicated category. Some holes will be twinned for metallurgical test work. The results of this drilling program will form the basis of a feasibility study to implement our hub-and-spoke operation model,” added Mast.
The 2022 infill drilling program includes 45,000 meters at the high-grade Corner Bay copper-gold deposit and 5,000 meters at the Devlin copper deposit, located 10 kilometres west of Corner Bay.
The objective of this $7.0 million drilling program is to convert a significant proportion of the underground inferred resources to the indicated category.
This program will enable the finalization of the underground engineering plans as part of the feasibility study that will start after the PEA is completed at the end of the first quarter of 2022.
Drilling will also aim at extending some known copper mineralized zones at Corner Bay.
At Corner Bay, step out holes are planned to test a moderate to strong downhole geophysical target to the south of the East Vein, located 200 meters east of the Main Vein.
A ground geophysical EM survey is planned southwest of the Corner Bay deposit over a one-kilometre square area with a similar magnetic signature, structural setting and lithology to Corner Bay.
Doré Copper finished 2021 with approximately $14.1 million in working capital.
Doré Copper Mining Corp. aims to be the next copper producer in Québec with a 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 2,700 tonnes per day mill.
It is expected to deliver a PEA at the end of the first quarter of 2022 and then initiate a feasibility study and permit applications.
Doré Copper Mining Corp. (DCMC) is down 1.43 per cent, trading at C$0.69 at 1:@1 pm EST.