TORONTO, Aug. 19, 2022 (GLOBE NEWSWIRE) — Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) is pleased to announce the appointment of Mr. Nicholas (Nick) Kwong to the role of Chief Operating Officer effective immediately.
Mr. Kwong, P. Eng, 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 & 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.
Ernest Mast, President and CEO of Doré Copper stated, “We welcome Nick to our Company in the newly created position of COO. Nick’s hands-on experience in mine and mill design, project engineering, execution and start-up will be beneficial as we advance our hub-and spoke operation to the feasibility stage with the aim of being in production by 2025-26.”
Doré Copper has granted 1,100,000 stock options to employees and consultants. The stock options have an exercise price of $0.41 per share and a term of five years from the date of grant and are subject to the policies of the TSX Venture Exchange. The options were issued in accordance with the Corporation’s omnibus share incentive plan.
About Doré Copper Mining Corp.
Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target of +50 Mlbs of copper equivalent annually by implementing a hub-and spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill1. The Corporation has delivered its PEA in May 2022 and plans to commence a feasibility study and submit the Preliminary Information Statement of the Environmental and Social Impact Assessment (ESIA) in Q3 2022.
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 gold2. The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometre radius of the Corporation’s Copper Rand Mill.
For further information, please contact:
- Technical report titled “Preliminary Economic Assessment for the Chibougamau Hub-and-Spoke Complex, Québec, Canada” dated June 15, 2022, in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The Technical Report was prepared by BBA Inc. with several consulting firms contributing to sections of the study, including SLR Consulting (Canada) Ltd., SRK Consulting (Canada) Inc. and WSP Inc.
- 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 Dore/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 aiming to be the next copper producer in Québec with an initial production target of +50 Mlbs of copper equivalent annually; implementing a hub-and spoke operation model; plans to commence a feasibility study and submit the Preliminary Information Statement of the Environmental and Social Impact Assessment (ESIA) in Q3 2022.
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.
Read More: Doré Copper Appoints Chief Operating Officer