TORONTO, Nov. 22, 2023 (GLOBE NEWSWIRE) — Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) is pleased to announce that further to its news releases dated October 6 and October 14, 2023, it has filed a technical report in compliance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) on the Company’s Corner Bay and Devlin copper projects.
A copy of the technical report (Technical Report on the Corner Bay-Devlin Property, Northwest Québec, Canada dated November 10, 2023) is available on the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at https://www.dorecopper.com. The Technical Report focuses on an updated mineral resource estimate for both the Corner Bay and Devlin projects located on the same property, south of the Chibougamau mining camp in northern Québec. The report was prepared by SLR Consulting (Canada) Ltd., an independent global mining advisory and consulting firm.
Ernest Mast, President and Chief Executive Officer of the Corporation, commented: “Work is progressing on the preliminary economic assessment (PEA) which will evaluate a hub-and-spoke operation model that will include our flagship high-grade copper-gold Corner Bay deposit, along with the Devlin (copper-gold) and Joe Mann (gold-copper) deposits to supplement tonnage. The PEA is expected to be completed in January 2023. Meanwhile, our drilling activities are continuing at Corner Bay to further increase our resource base above the existing 7.2 million tonnes.
Qualified Persons
The Technical Report the Corner Bay-Devlin Property was prepared by Luke Evans, M.Sc., P.Eng. and Marie-Christine Gosselin, B.Sc., P.Geo., of SLR, both “Independent Qualified Persons” as defined by NI 43-101.
Andrey Rinta, P.Geo., the Exploration Manager of the Corporation and a “Qualified Person” within the meaning of National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
About Doré Copper Mining Corp.
Doré Copper Mining Corp. is a copper-gold explorer and developer in the Chibougamau area of Québec, Canada. The Corporation is focussed on implementing its hub-and-spoke development strategy by advancing its key high-grade copper-gold brownfield projects towards a restart of operations. Our goal is to achieve an annual production of 60 Mlbs of copper equivalent (or 100,000 oz gold equivalent).
The Corporation has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has produced 1.6 billion pounds of copper and 4.4 million ounces of gold1. The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometre radius of the Company’s 2,700 tpd mill (Copper Rand Mill).
Doré Copper plans to deliver a PEA of its hub-and-spoke model in January 2023. The Corporation is completing its 2023 drilling program of 50,000 meters on its properties in the Lac Doré and Chibougamau area of Québec.
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1. Sources for historic production figures: Economic Geology, v. 107, pp. 963–989 – Structural and Stratigraphic Controls on Magmatic, Volcanogenic, and Shear Zone-Hosted Mineralization in the Chapais-Chibougamau Mining Camp, Northeastern Abitibi, Canada by François Leclerc et al. (Lac Doré/Chibougamau mining camp) and NI 43-101 Technical Report on the Joe Mann Property dated January 11, 2016 by Geologica Groupe-Conseil Inc. for Jessie Ressources Inc. (Joe Mann mine).
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”, “schedule”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. Specific forward-looking statements in this press release include, but are not limited to, completing a PEA in January 2023, increasing the Corner Bay resource base to above the existing 7.2 million tonnes, implementing a hub-and-spoke development strategy by advancing the Corporation’s key high-grade copper-gold brownfield projects towards a restart of operations, and the Corporation’s goal of achieving an annual production of 60 M lbs of copper equivalent (or 100,000 oz gold equivalent).
All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the timing and ability of the Corporation to receive necessary regulatory approvals, and the plans, operations and prospects of the Corporation and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, actual exploration results, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by the Corporation with securities regulators. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
