Doré Copper Mining Corp. (TSX-V:DCMC, OTCQX:DRCMF) has announced the approval of a fully funded 50,000 meter (m) drilling program at the Corner Bay and Devlin projects that will mainly focus 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 kilometers (km) by road from the company's Copper Rand mill, near Chibougamau, Québec.
“We have started a 45,000 meter drilling program at our flagship Corner Bay project with two drills, both infilling the deposit at a 60 meter spacing. 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,” said Doré Copper CEO Ernest Mast in a statement.
READ: Doré Copper Mining hits high-grade copper, gold, and silver at its Corner Bay property in Québec
“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.”
2022 drilling program and exploration activities
The company said the 2022 infill drilling program includes 45,000m at the high-grade Corner Bay copper-gold deposit and 5,000m at the Devlin copper deposit, located 10km west of Corner Bay.
It added that the objective of the $7 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 200m east of the Main Vein. A ground geophysical EM survey is planned southwest of the Corner Bay deposit over a one-kilometer square area with a similar magnetic signature, structural setting, and lithology to Corner Bay.
Doré Copper finished 2021 with about $14.1 million in working capital, of which approximately $5 million is flow-through funds.
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham