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Doré Copper signs agreement to acquire Joe Mann gold mine in Canada

Published by
Global Mining Review,


Doré Copper Mining Corp. has announced that it has entered into an option agreement to acquire a 100% interest in the Joe Mann gold mine located in Québec.

The mine is located approximately 50 km from the Corporation's Copper Rand mill, where mineralised material from Joe Mann was processed from 2004 until its closure in 2007, and is accessible by all season roads. Joe Mann has been privately held since 2008. The corporation does not currently consider Joe Mann to be a material property for the purposes of National Instrument 43-101.

Highlights

  • Production of 1.173 million oz of gold at a grade of 8.26 g/t Au, 607 000 oz of silver at 5 g/t Ag and 28.7 million lb of copper at 0.25% Cu (Source: Geologica Inc., technical report on the Joe Mann Mining property (2016).
  • Mineralisation remains strong and persistent at depth with Hole EE-189B intersecting 26.66 g/t Au over 1.8 m and Hole EE-188 intersecting 30.3 g/t Au and 1.3% Cu over 3.02 m extending the Main Zone 170 meters down dip.
  • The more recently discovered West Zone, a potential structural off-set that allows much thicker, higher-grade veins to form, remains open and is a high priority exploration target with historic intercepts including 2.44 m at 24.62 g/t Au, 3.93 m at 31.54 g/t Au, 2.62 m at 24.28 g/t Au and 3.2 m at 16.1 g/t Au.
  • Exploration potential remains excellent including new parallel zones identified by recent surface prospecting work that lie just several hundred meters to the south of the main mine.
  • Significant infrastructure in place including power and a shaft down to the 1145 m level.

Ernest Mast, President and CEO of Doré Copper commented: "Joe Mann was closed during a period of low gold prices. This is a rare opportunity to secure a significant high-grade gold underground asset that remains open at depth and along strike with numerous high priority exploration targets. An exploration programme at Joe Mann will focus on the significant potential to extend high-grade mineralisation at depth as well as defining new zones of mineralisation, all accessible from the 3775 ft shaft. We believe Joe Mann may demonstrate similar potential to Wesdome's Eagle River, Alamos' Island Gold or Kirkland Lake's Macassa mine where the high-grade gold deposits not only continue at depth but with improved grades while yielding new discoveries. Joe Mann fits into our exploration and development plans, adding another high-grade gold-copper project to our portfolio to leverage our strategically located mill."

Read the article online at: https://www.globalminingreview.com/finance-business/03012020/dor-copper-signs-agreement-to-acquire-joe-mann-gold-mine-in-canada/

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Canadian mining news