Doré Copper Mining (TSX-V: DCMC) CEO Ernest Mast on High-Grade Copper Intercepts that Extend the Corner Bay Deposit 100 Meter Along Strike
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president and CEO of Doré Copper Mining (TSX-V: DCMC), Mr. Ernest Mast. Ernest, how are you sir?
Ernest Mast: I am fine today, Gerardo. Thanks for asking.
Gerardo Del Real: Thanks for taking time to chat with me today. Doré should be called Doré High-Grade Copper & Gold Mining Corp., right, if the first release is any indication.
You just had some assays on March the 2nd from the Corner Bay property and it's a pretty exciting number. 7 meters at 9.08% copper, 0.41 grams per tonne gold and 30.64 grams per tonne silver. And more importantly, it extends the deposit along strike and down plunge.
I would love for you to provide some context and give us an update on what's going on there. And then let's talk about what's next, because you're far from a one-trick pony as far as the properties go, right?
Ernest Mast: That's correct. So our drilling program at Corner Bay was very successful. We should be able to increase the size of the estimated resource with the number of drill holes that we did. But most importantly, that drill hole 20-17, where we hit 7 meters at 9.08% copper, extended the deposit by over 100 meters. And also in doing so, it shows us the high-grade trend that exists in the ore body at that location. Now that Corner Bay ore body also has other locations that we will follow up upon.
However, our immediate plans are to now transition to drilling at Cedar Bay where we expect to hit decent copper intervals, but also high-grade gold intervals such as we did when we drilled the property in 2018 where we had a couple of drill holes between 15 and 20 grams gold per tonne. And then upon finishing the program at Cedar Bay, we'll move on to the optioned Joe Mann property where we're going to be following up on a couple of intervals that were about 1 ounce per tonne over 2 to 3 meters.
Gerardo Del Real: Excellent. And just to provide some context there, you did mention the high-grade gold mineralization that you've intersected in the patch that prior operators intercepted. Right? And I think there was a 2.4-meter intercept of 19.5 grams per tonne gold and 1.67% copper. So obviously if you can come anywhere close to those numbers and reproduce that, that'll be exciting for the market.
Let me ask you this, Ernest, you have multiple drill programs that you're looking to execute on over the next several months. What happens after that? What does it look like in the second half of this year?
Ernest Mast: So in the second half of the year we'll have to make a decision whether we want to obtain additional funding to follow up on the very high-grade intercepts that we will get from our current program or whether we feel we have enough and it's the right time to go ahead and do a resource update to show how the properties have grown.
So we're really in a very enviable situation where we have high-grade copper and we have high-grade gold and we're going to be growing high-grade resources at three different properties.
Gerardo Del Real: Well, you're in a sweet spot, Ernest, with gold trading currently right around the $1,655 level. And I know a lot of us believe and, frankly, people that are a lot more plugged into the copper space than I am believe that the second half of the year will be very, very good to copper speculators and companies that have the type of grade that your properties have.
So good timing to come out in the market. Great timing to hit these kinds of numbers. I'm excited to have you back on once we get results from the other two drill programs. Is there anything else that you'd like to add?
Ernest Mast: I'd just like to mention that with what's going on with the Coronavirus, people are careful in terms of their personal hygiene. Just a reminder that this eventually will be in the past and markets will recover. The companies with the strongest, highest grade assets will be the companies that will prosper the most.
Gerardo Del Real: Couldn't have said it better. Elbow bumps at best for the time being, correct?
Ernest Mast: Correct. Lots of that going on at PDAC.
Gerardo Del Real: I believe it. Let me ask you before I let you go, how was the news received at PDAC? I know it coincided with the conference. I got to believe you had some interest and some pretty good feedback there.
Ernest Mast: Yes. The press release on the high-grade intercept and the other holes we drilled came out the day before our Core Shack display at the PDAC. We had lots of visitors, lots of potential investors, but more importantly, a lot of geologists. And our geologists interacted with those groups. We really got into the nuts and bolts on the formation of the ore bodies and the different sequences of mineralization that had occurred and what we can expect in other parts of the ore body.
So not only was it good for the company, it was good for the professional development of our team, and also really got the news out amongst the technical community of the high quality of our resources.
Gerardo Del Real: Fantastic. Ernest, thank you for your time. I am off to wash my hands. I will let you go because I know you've got a drill program to tend to, so thanks again. Can't wait to have you back on.
Ernest Mast: Thank you very much, Gerardo. And all the best. Bye bye.
Gerardo Del Real: Cheers.