Doré Copper Mining Corp. (TSXV: DCMC) (OTCQX: DRCMF) (FRA: DCM) discovered high-grade gold mineralization at its Gwillim property in Chibougamau, Quebec.
On Monday, the company showed positive assay results from the two drill holes completed in late 2022 at the KOD zone, which is part of its joint-venture with Argonaut Gold (TSX: AR).
In December 2022, Doré Copper conducted drilling operations for two holes with a total depth of 1,320 meters. This action was in response to promising results obtained from two holes that were completed in the previous year in the KOD zone. The KOD zone is situated 300 meters south Gwillim Main zone.
Drill hole KOD-22-04 encountered two principal zones of mineralization.
- Zone B: 9.67 g/t Au over 5.3 meters (visible gold)
- Zone C: 11.10 g/t Au over 3.0 meters
The Gwillim property is 486 hectares. The western part of the property is part of the JV between Doré and Argonaut while the eastern part of the property is owned entirely by Doré Copper. The Gwillim mine is on the joint venture line.
The JV also completed a 146 line-kilometer airborne electromagnetic survey of the property and a televiewer acoustic and optical survey in seven drill holes along the KOD zone.
Survey results show multiple conductive anomalies
The survey results have identified multiple conductive anomalies, including a sizable anomaly located in the KOD zone beginning at a depth of 150 meters. This anomaly is situated to the west of the KOD-22-04 and 05 drill holes.
“The limited drilling to date on the KOD zone is demonstrating good continuity of the high-grade gold mineralization from surface to a vertical depth of approximately 600 meters and the system remains open at depth,” said Ernest Mast, president and CEO of Doré Copper.
“Further work is warranted to test the strike and depth extension of the KOD zone, along with a number of conductive anomalies.”
The historical notes between 1974-1976 and again from 1980-1984 show a total of 254,066 shortones were mined at a grade of 4.79 g/t Au. The majority of the production came from the main zone, which extended along strike for 122 meters with an average width of 2.6 meters and to a depth of 114 metres.
In 1987, two high-grade intercepts were identified at the KOD zone, which is located 300 meters south of the previously mined Gwillim Main zone. Following this, an additional 25 holes were drilled from the surface before a ramp was constructed. This ramp allowed for further underground exploration of the zone in 1988, although it wasn’t mined – although there was some development through ore.
In 1989, three more holes were drilled from the surface, reaching depths of 400 meters. One of these holes confirmed the extension of the high-grade mineralization beyond a vertical depth of 300 meters.
Doré Copper shares rose by 25 per cent to $0.20 on Monday on the TSX Venture Exchange.