Announcement Date: 2022-05-10
Announcement Type: PEA
Announcement Code: NI43-101
Company name: Dore Copper Mining Corp.
Project name: Corner Bay
Location: Canada
Commodities: Gold,Silver,Copper,Molybdenum
Highlight: PEA results incl. post-tax NPV (8%) of C$193M & IRR of 22.1%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Toronto, Ontario – May 10, 2022 – Doré Copper Mining Corp. (the “Corporation” or “Doré Copper”) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) is pleased to report positive results from its Preliminary Economic Assessment (“PEA“) for the restart of the Chibougamau mining camp. The PEA supports a huband-spoke operation with the high-grade Corner Bay copper-gold deposit as its main underground mine along with the Devlin copper deposit and the former Joe Mann gold mine providing feed to its Copper Rand mill (collectively, the ”Project”). The PEA demonstrates attractive project economics with optionality for expansion into a significantly larger operation, re-establishing the Chibougamau mining camp as a long-life copper and gold producer. All values in this news release are reported in Canadian dollars (C$) unless otherwise noted. PEA Study Approach The PEA envisions a hub-and-spoke model operation starting first with the underground development of the Devlin deposit via a ramp and secondly with the underground development of the Corner Bay deposit (main asset) via a ramp. Once the Devlin deposit is mined out (approximately 4 years), production at the Joe Mann mine would start and be funded out of cash flow from operations. Joe Mann benefits from an existing headframe and shaft, including all surface infrastructures.
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