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Doré Copper Mining (TSXV: DCMC) continues to demonstrate the continuity of high-grade gold mineralization from drilling at the Gwillim property, located 8 km northwest of Chibougamau, Québec.
In late 2022, Doré completed two holes for a total 1,320 metres to follow up on positive results from drilling completed the prior year on the KOD zone, which is located 300 metres south of the mined Gwillim Main zone.
On Monday, the company put out a release announcing the results of the first hole KOD-22-04, which intersected two main mineralized zones: 9.67 g/t gold over 5.3 metres, including 19.46 g/t gold over 2.1 metres, starting at a vertical depth of approximately 580 metres; and 11.10 g/t gold over 3.0 metres.
These zones are interpreted as zones B and C of the KOD mineralized structure, located approximately 190 and 215 metres, respectively, below hole KOD-22-03 from before. In addition, a wide zone of low-grade mineralization, 0.86 g/t gold over 42.3 metres, was intersected from 460 to 502.3 metres. Assays are pending from 130 to 323.5 metres.
Assays are also pending for hole KOD-22-05, drilled on the same pad as KOD-22-04 and approximately 60 metres west-southwest of zone B intersected in KOD-22-04.
In addition to the recent drilling, the company has also completed an airborne electromagnetic survey over the property, which identified several conductive anomalies. Specifically, one large anomaly is located at the KOD zone starting at a depth of 150 metres, just west of holes KOD-22-04 and 05.
“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 metres and the system remains open at depth,” Doré Copper CEO Ernest Mast said in a statement.
The Gwillim property covers a total area of 486 hectares. The western part, totalling 385 hectares, is under a 50/50 joint venture with Argonaut Gold, with Doré acting as operator. The eastern part of the project is 100% owned by Doré.
Hosted on the JV land is the Gwillim mine, which operated between 1974-1976, and again from 1980-1984. In total, over 222,000 tonnes were mined at a grade of 4.79 g/t gold, most of which came from the Main zone.
In 2021, the JV drilled two holes with hole KOD-21-02 intercepting 3.33 g/t gold over 13.3 metres and 10.14 g/t gold over 4 metres, and hole KOD 21-03 intercepting 3.03 g/t gold over 4 metres and 4.64 g/t gold over 6 metres, including 11.69 g/t gold over 2 metres.
Shares of Doré Copper surged 18.7% by market close Monday, giving the company a market capitalization of C$16.6 million ($12.2m).
