TORONTO, Feb. 07, 2020 (GLOBE NEWSWIRE) -- Doré Copper Mining Corp. (the "Corporation" or "Doré Copper") (TSXV: DCMC) is pleased to announce that the PDAC has accepted a presentation of the Corporation’s Corner Bay project as part of Session B of the Core Shack, on March 3rd and March 4th, 2020. The Corporation will be at booth 3105B and have drill core, maps and a 3D model of the project.
The Corner Bay project is located approximately 45 km to the south of the Corporation’s Copper Rand mill. Corner Bay is one of the highest-grade copper deposits in the Americas. The Corner Bay project has an indicated resource of 1.35 Mt at average grades of 3.01% Cu and 0.29 g/t Au, containing 89.8 Mlb of copper and 13,000 ounces of gold, and an inferred resource of 1.66 Mt at average grades of 3.84% Cu and 0.27 g/t Au, containing 140.3 Mlb of copper and 15,000 ounces of gold, assuming a cut-off grade of 1.5% Cu and a copper price of US$3.25 per pound.
The Corner Bay deposit is current being drilled to expand its estimated resources. See the Corporation’s January 6th, 2020 press release for more details on the drilling program. Doré Copper is using Miiken Drilling as the drilling contractor. Miiken is a joint venture between Chibougamau Diamond Drilling Ltd., the First Nations community of Ouje-Bougoumou and the First Nations community of Mistissini both located in the Eeyou Istchee territory.
The Corporation will also engage Integral Wealth Securities Limited, a TSX-listed market maker, as a market maker.
Under the conditions of the agreement, Integral will be paid $7,500 per month for their services for a minimum term of 3 months. After the initial 3-month term, Doré Copper shall have a right to terminate, provided written notice of termination is received at least 7 days prior to the 90th day of the term.
There are no performance factors contained in the agreement and Integral will not receive shares or options as compensation. Doré Copper and Integral are unrelated entities, and Integral has no present direct or indirect interest in the Corporation or its securities.
The historical technical information disclosed in this news release about Corner Bay was taken from the technical report entitled "Technical Report on the Corner Bay and Cedar Bay Projects, Northwest Québec, Canada" dated June 15, 2019, prepared by Luke Evans, M.Sc., P.Eng., which is available under Doré Copper's profile on SEDAR at www.sedar.com.
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 is engaged in the acquisition, exploration and evaluation of mineral properties. Doré Copper completed a qualifying transaction on December 13, 2019 establishing itself as a copper – gold explorer and developer in the Chibougamau area of Québec, Canada. Doré Copper, through its wholly-owned subsidiary CBAY Minerals Inc., holds a 100% interest in the exploration-stage Corner Bay project and the exploration-stage Cedar Bay project, both located in the vicinity of Chibougamau, Québec, as well as the 2,700-tpd Copper Rand mill. Doré Copper has an option agreement to acquire 100% of the Joe Mann property (see press release dated January 2, 2020), whereby if certain payments and spending requirements are met over a three-year period, the Corporation will become 100% owner of the 1,990-hectare Joe Mann property.
For further information, please contact:
President and Chief Executive Officer
Phone: (647) 921-0501
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. 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, 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.