Doré Copper Mining (TSXV: DCMC; US-OTC: DRCMF) has doubled resources at its flagship Corner Bay copper-gold project, about 55 km from Chibougamau in Quebec, as it works toward a preliminary economic assessment to be completed in January 2022.
The latest figures indicate a total tonnage increase of 140% and a contained copper metal increase of 107%. The previous estimate was completed in 2019.
The Corner Bay deposit now contains an indicated resource of 2.7 million tonnes grading 2.68% copper and 0.26 gram gold per tonne and an inferred resource of 4.5 million tonnes at 3.2% copper and 0.27 gram gold per tonne. The deposit contains 157 million lb. of copper in the indicated category and 320 million lb. of copper in the inferred category.
An isometric view of the Corner Bay deposit showing potential for resource expansion. Credit: Doré Copper Mining.
Doré Copper says the increased size of the resource estimate is a step-change for the economic potential of underground mining. There is already ramp access to the Corner Bay deposit and 2 km of development on three levels. The mine would also be within trucking distance of the 2,700 tonnes-per-day Copper Rand mill, which Doré Copper owns in Chibougamau.
The company believes there is significant exploration potential to continue increasing the resource. Ongoing drilling has connected the Main vein and Lower Deep vein below the dyke. The deposit remains open down plunge below a vertical depth of 1,100 metres, and there are untested subparallel zones.
“Our next priority is the completion of the PEA study for the re-development plan of a hub-and-spoke operation model with Corner Bay as the main feed to our centralized mill, supplemented by the Devlin and Joe Mann deposits,” president and CEO Ernest Mast stated in a press release. “The plan is to continue exploration drilling from surface at Corner Bay and commence infill drilling in 2022 for a feasibility study anticipated in early 2023.”
Doré Copper has awarded the contract to lead the preliminary economic assessment to BBA Inc.
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