Doré Copper Mining Corp.
Dore Copper Mining Corp. aims to be the next copper producer in Quebec with an initial production target of +50 million pounds of copper equivalent annually by implementing a hub-and-spoke operation model with multiple high-grade copper-gold assets feeding its centralized 2,700 tonnes per day Copper Rand Mill. The Company is expected to deliver a preliminary economic assessment (PEA) at the end of the first quarter of 2022 and then initiate a feasibility study and permit applications.
The Company has consolidated a large land package (~12,100 ha) in the prolific Lac Dore/Chibougamau and Joe Mann mining camps that has produced 1.6 billion pounds of copper and 4.4 million ounces of gold. The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometre radius of the Company's Copper Rand Mill.
One of Canada's premier, under-valued, near-term re-development opportunities in mine-friendly Quebec
Brownfield Assets in Top Mining Jurisdiction
Established Mining Infrastructure
High-Grade Quality Copper & Gold Projects
Highly Experienced Team
Corner Bay Project (Main Asset for Hub-and-Spoke)
Corner Bay Deposit
Significant increase in mineral resource estimate (MRE) update
Preliminary Economic Assessment (PEA) Underway
Devlin Project (Secondary Asset for Hub-and-Spoke)
Near-Surface and Partially Developed
PEA Underway – Corner Bay and Devlin would be developed first in hub-and-spoke model
Joe Mann Project (Secondary Asset for Hub-and-Spoke)
(Option to acquire 100%)
Maiden Mineral Resources in July 2021:
Next Steps and Potential Timeline to Production
Well funded for 2022 drilling and start of Feasibility Study
Management and Directors
Mario Stifano, Executive Chairman and Co-Founder
CEO of Galantas Gold Corporation, Former CEO of Cordoba Minerals and Former CFO of Lake Shore Gold
Ernest Mast, President, CEO, Director and Co-Founder
Former President and CEO of Primero Mining, and Minera Panama (Inmet Mining); 20 years with Xstrata/Noranda/Falconbridge
Gavin Nelson, Chief Financial Officer
CPA with experience in management of junior and small cap mining companies
Laurie Gaborit, Vice President of Investor Relations
Former VP Investor Relations at Detour Gold
Sylvain Lépine, Vice President of Exploration
Former VP Exploration at Yorbeau Resources
Jean Tanguay, General Manager
Former Operations Manager with Campbell Mines
Steve Simard, Project Director
Former Technical Superintendent and Mining Operation at Endeavour Mining's Mana mine in Burkina Faso
Andrey Rinta, Exploration Manager
Former Senior Exploration Geologist with Kinross
Frank Balint, Director
Former VP Corporate Development and Exploration of Inmet Mining
Sara Heston, Director
Former VP Investments of ASA Gold and Precious Metal
Martha Manuel, Director
Former Manager of Indigenous Relations at New Gold
Brent Omland, Director
CFO of Ocean Partners
Joseph de la Plante, Director
Chief Investment Officer of Nomad Royalty. Former VP Corporate Development of Osisko Gold Royalties
Ewan Downie (Co-Founder)
Director & CEO of i-80 Gold Corp.
Former President and CEO of Virginia Mines
November 22, 2022, Dore Copper Mining Corp. has released the final results from its 2022 drilling program on its flagship Corner Bay property, located in the Chibougamau mining camp, approximately 40 kilometres by road from Chibougamau, Que. In 2022, Dore Copper has completed 44 holes totalling 38,405 metres and is releasing today the assay results from the last 12 holes.
This drilling program is part of the feasibility study work to upgrade the inferred mineral resource to the indicated category. Another infill drilling program of approximately 2,000 metres is planned at Devlin for the first quarter of 2023. Drilling highlights :
Main Vein below dyke:
Main Vein above dyke:
Pursuant to the terms of the amending agreement, the company has agreed to accelerate the final scheduled cash and share payments under the option agreement. The company has made the final scheduled cash payment of $1.5-million to Ressources Jessie (thus fulfilling the scheduled cash payment obligations), and will issue 3,333,333 common shares in the capital of the company to Legault Metals Inc. at a deemed price of 30 cents per common share for an aggregate value of $1-million upon acceptance of the TSX Venture Exchange (thus fulfilling all scheduled share payment obligations). The deadline for the company to incur the remaining exploration expenditures on the property, totalling approximately $830,000, has also been extended to Feb. 28, 2023.
On November 17, 2022, Dore Copper Mining Corp. has submitted to the administrator of the James Bay and Northern Quebec agreement the preliminary information statement for the environmental and social impact assessment (ESIA) for the commencement of its proposed hub-and-spoke operation near Chibougamau, Que. The preliminary information statement includes the Corner Bay and Devlin mines, the Copper Rand mill, the tailings management facility, and associated roads and electrical power connections. The vast majority of the sites described in the preliminary information statement have existing infrastructures.
The preliminary information statement is the first step of the environmental and social assessment and review procedure under the Environment Quality Act. On behalf of the administrator, the environmental and social impact evaluating committee (COMEV) will review the preliminary information statement, then issue a project directive, the proponent road map under which the ESIA will be carried out.
On November 03, 2022, The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced on Sept. 29, 2022.
Number of shares: 7,666,820 non-flow-through (NFT) shares; 9,583,525 flow-through (FT) shares
Purchase price: 30 cents per common share; 36 cents per FT share
Number of placees: 18 placees
Total existing insider involvement: 3,585,000 (two placees)
On September 29, 2022, Dore Copper Mining Corp. has entered into an agreement pursuant to which Cormark Securities Inc., as lead agent, on behalf of a syndicate of agents, has agreed to act as agent on a best effort basis in connection with a private placement of: (i) up to 6,666,800 common shares in the capital of the corporation at a price of 30 cents per offered common share for gross proceeds of up to approximately $2,000,040; and (ii) up to 8,333,500 common shares in the capital of the corporation that will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec)) at a price of 36 cents per flow-through share for gross proceeds of up to approximately $3,000,060, for aggregate gross proceeds to the corporation of up to approximately $5,000,100. The net proceeds from the sale of the offered common shares will be used for exploration and development activities and for working capital and general corporate purposes.
On September 12, 2022, Dore Copper Mining Corp. announced that its plan to drill at Joe Mann, part of the preliminary economic assessment ("PEA"), and at the Dore Ramp gold-copper deposit located 2.5 kilometers from the existing Copper Rand mill, near Chibougamau, Quebec . This drilling is expected to start in the fourth quarter and is in addition to the ongoing infill drill program at Corner Bay and Devlin for the upcoming feasibility study (latest news release August 11, 2022).
On August 19, 2022, Dore Copper Mining Corp. has appointed Nicholas (Nick) Kwong to the role of chief operating officer, effective immediately.
Nicholas Kwong, PEng, MBA, has more than 15 years of experience in the mining industry, predominantly in gold and base metals in North American, Australia, Latin American and Saudi Arabia. He joined New Gold Inc. in 2005 as a project engineer for the design and construction of the New Afton underground mine. He then held numerous site and corporate roles for New Gold, including manager, mining engineering; director, business improvement; and director, technical services, up to 2019. He subsequently joined Ma'aden Gold in Saudi Arabia as general manager of the Sukhaybarat and Bulghah gold mines. There, he completed the mine and mill expansion and modernization, which resulted in a significant increase in production and decrease in unit costs, all while controlling capital costs during the COVID-19 pandemic.
On August 11, 2022, Dore Copper Mining Corp. has released its second set of results from its 2022 drilling program of 45,000 metres at its flagship Corner Bay property, located in the Chibougamau mining camp, approximately 40 kilometres by road from Chibougamau, Que. As of Aug. 10, 2022, Dore Copper has completed 37 holes totalling 36,135 metres and is reporting today the assay results from 14 holes. This drilling program is part of the feasibility study work to upgrade the inferred mineral resource to the indicated category. Another infill drilling program of approximately 2,000 metres are planned at Devlin. Drilling highlights:
Main vein below dike
Main vein above dike
On July 11, 2022, Doré Copper Mining Corp. announced that the first set of results from its 2022 drilling program of 45,000 meters at its flagship Corner Bay property, located in the Chibougamau mining camp, approximately 40 kilometers by road from Chibougamau, Québec. As of July 4, 2022, Doré Copper has completed 32 holes totaling 33,900 meters and is reporting today the results from 13 holes. This drilling program is part of the feasibility study work to upgrade the Inferred Mineral Resource to the Indicated category. Another infill drilling program of approximately 2,000 meters is planned at Devlin. Drilling Highlights:
Main Vein above dyke
Main Vein below dyke
On June 15, 2022, Doré Copper Mining Corp. announced that further to its news releases dated May 10, 2022, it has filed a technical report titled “Preliminary Economic Assessment for the Chibougamau Hub-and-Spoke Complex, Québec, Canada” in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”)
A copy of the technical report 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 the results of the PEA which includes the Corner Bay, Devlin, and Joe Mann projects feeding the Company’s centralized Copper Rand mill, all located in the vicinity of Chibougamau, Québec.
On May 12, 2022, Doré Copper Mining Corp. has granted 765,000 stock options to management, consultants and advisors. The stock options have an exercise price of $0.59 per share and a term of five years. The Company has also granted an aggregate total of 150,000 deferred share units (“DSU’s”) to the independent directors of the Company. The DSUs are payable in common shares of the Company upon the holder ceasing to be a director of the Company. Both issuances were done in accordance with the Company’s omnibus share incentive plan.
On May 10, 2022, Doré Copper Mining Corp. reported the positive results from its Preliminary Economic Assessment (“PEA“) for the restart of the Chibougamau mining camp. The PEA supports a hub-and-spoke operation with the high-grade Corner Bay copper-gold deposit as its main underground mine along with the Devlin copper deposit and the former Joe Mann gold mine providing feed to its Copper Rand mill (collectively, the ”Project”). The PEA demonstrates attractive project economics with optionality for expansion into a significantly larger operation, re-establishing the Chibougamau mining camp as a long-life copper and gold producer.
All values in this news release are reported in Canadian dollars (C$) unless otherwise noted.
On April 21, 2022, Doré Copper Mining Corp. announced the positive results from two drill holes totaling 819 metres completed in late 2021 on the western part of the Gwillim property, which is under a 50/50 joint venture with Argonaut Gold Inc. (through its wholly owned subsidiary Prodigy Gold Inc.). Gwillim is located approximately 8 kilometers by road northwest of Chibougamau, Québec. Drilling Highlights
On March 10, 2022, Dore Copper Mining reported more high-grade copper results from 2021 drilling program at its flagship Corner Bay copper-gold project.
High-Grade Drilling Highlights:
Main Vein above dyke