Dore Copper Mining: Copper-Gold Exploration within the Chibougamau space of Québec, Canada

Investor Perception

Doré Copper Mining is advancing high-grade tasks within the Chibougamau area by a hub-and-spoke technique centered round its flagship high-grade copper Nook Bay deposit, leveraging its distinctive benefit of proudly owning the one mill within the space, whereas benefiting from supportive communities and present infrastructures.

Overview

Doré Copper Mining (TSXV:DCMC,OTCQB:DRCMF,FRA:DCM) is a copper-gold exploration and improvement firm, positioning itself as a near-term producer within the prolific Chibougamau area of Québec, Canada. With a transparent strategic focus, Doré Copper Mining is actively advancing its belongings towards manufacturing, profiting from its brownfields high-grade copper and gold tasks, present infrastructure, and supportive jurisdiction. The corporate’s overarching aim is to determine itself as Quebec’s subsequent copper producer, with a hub-and-spoke mining technique centered round its Copper Rand mill.

Doré Copper Mining’s operations are situated within the Chibougamau mining camp, an space recognized for its historic copper and gold manufacturing, throughout the world-renowned Abitibi Greenstone Belt. The corporate’s flagship asset, Nook Bay, is complemented by a number of different tasks, together with Devlin, Joe Mann, Cedar Bay, and Copper Rand. These properties kind the muse of Doré Copper Mining’s near-term and future manufacturing plans.

The corporate is exclusive as a result of it owns the one mill within the space. The Copper Rand mill is designed to course of a median of 1,350 tonnes-per-day and can should be refurbished. This infrastructure offers Doré Copper Mining a big aggressive benefit, each when it comes to decreasing capital expenditure necessities and probably producing extra income streams by processing ore from third-party operations.

Québec, as a mining jurisdiction, offers sturdy assist for mineral exploration and improvement. It ranks extremely within the Fraser Institute’s rankings of mining-friendly jurisdictions, providing political stability, favorable tax incentives, and entry to well-established infrastructure, together with roads, rail, and energy.

Doré Copper Mining is led by an skilled and extremely expert administration group. Ernie Mast, the corporate’s president and CEO, has over three many years of expertise within the mining business, together with management roles at corporations resembling Primero Mining and Minera Panama (Inmet Mining). Mast’s background in managing junior and small-cap mining corporations is well-suited to Doré Copper Mining’s present improvement part. The broader administration and technical groups convey a wealth of operational experience, with a number of people having intensive expertise in exploration, venture improvement, and mining operations in Canada and internationally.

Firm Highlights

• Doré Copper Mining’s hub-and-spoke mining mannequin—utilizing the Copper Rand mill because the central processing facility for its satellite tv for pc deposits—would assist an preliminary manufacturing goal of greater than 50 million kilos of copper equal yearly, with a mine life exceeding 10 years.
• A Preliminary Financial Evaluation( PEA) was launched in 2022 outlining a comparatively modest preliminary capital expenditure of C$180.6 million, highlighting the financial potential of the venture with an after-tax internet current worth (NPV) of C$193 million and an inner price of return (IRR) of twenty-two.1 p.c.
• A feasibility examine is underway, which is predicted to supply extra detailed engineering information and additional de-risk the operations
• Nook Bay, the flagship asset, is among the many highest-grade copper deposits in North America, with an indicated useful resource of two.6 million tonnes at a grade of two.66 p.c copper and an inferred useful resource of 5.8 million tonnes at a grade of three.44 p.c copper.
• The one hundred pc owned Copper Rand mill shall be refurbished for future manufacturing and would be the solely working mill within the Chibougamau area. The mill may have additional capability and offers the flexibility to course of its personal ore whereas probably providing toll milling providers to different close by mining tasks.
• Doré Copper Mining is led by an skilled and extremely expert administration group.

Key Initiatives

Doré Copper Mining’s belongings are situated inside a widely known copper and gold mining area, with a protracted historical past of manufacturing. The corporate’s present technique revolves round a hub-and-spoke mannequin, with the Copper Rand mill serving because the processing hub, fed by a number of satellite tv for pc deposits. The important thing tasks within the PEA embody Nook Bay, Devlin, and Joe Mann. Different previous producing mines, like Cedar Bay and Copper Rand, have additional exploration potential.

Nook Bay (Major Asset):

Nook Bay is the cornerstone of Doré Copper Mining’s portfolio. This copper-gold deposit has demonstrated distinctive grades and exploration potential, positioning it as one of many highest-grade copper tasks in North America. The most recent useful resource estimate, as of 2022, consists of 2.7 million tonnes of indicated sources at a grade of two.66 p.c copper and 5.8 million tonnes of inferred sources at a grade of three.44 p.c copper. The deposit stays open in a number of instructions and at depth, suggesting that additional drilling may probably increase the useful resource base and prolong the mine life.

Nook Bay is predicted to be mined by longhole open stoping with pillars and Avoca underground mining strategies. The venture will make the most of present infrastructure, together with a portal and decline to a depth of 115 meters. The ore shall be processed on the Copper Rand mill, with pre-concentration of the fabric by ore sorting know-how on the Nook Bay website.

The PEA for the venture anticipates a mine lifetime of over 10 years, with the potential to supply 53 million kilos of copper equal yearly. Metallurgical testing at Nook Bay has yielded optimistic outcomes, with copper recoveries starting from 96.8 p.c to 98.2 p.c, and the focus is of excessive industrial high quality, making it extremely engaging to smelters.

Devlin is a smaller satellite tv for pc deposit situated roughly 10 kilometers west of Nook Bay. The venture has a measured and indicated useful resource of 775,000 tonnes at a grade of two.17 p.c copper, together with an inferred useful resource of 484,000 tonnes at a grade of 1.79 p.c copper. Whereas Devlin’s measurement is modest in comparison with Nook Bay, it performs a vital function in Doré Copper Mining’s hub-and-spoke mining technique. Ore from Devlin shall be transported to Nook Bay for pre-concentration, earlier than being trucked to the Copper Rand mill for last processing. The corporate is planning to make use of room-and-pillar and drift-and-fill mining strategies at Devlin, with operations anticipated to start shortly after Nook Bay comes on-line.

Cedar Bay:

Cedar Bay is a past-producing mine situated close to the Copper Rand mill. It produced 3.9 million tonnes of ore at a median grade of 1.63 p.c copper and three.21 grams per tonne gold throughout its working life. Doré Copper Mining drilling packages have outlined within the southwest zone 130,000 tonnes of indicated sources at a grade of 9.44 grams per tonne gold and 1.55 p.c copper, and 230,000 tonnes of inferred sources at a grade of 8.32 grams per tonne gold and a couple of,13 p.c copper .

The Joe Mann gold-copper deposit is one other part of Doré Copper Mining’s hub-and-spoke technique. Positioned 60 km south of the Copper Rand mill, Joe Mann produced 1.2 million ounces of gold and 28 million kilos of copper over its mine life, at a median grade of 8.26 grams per tonne gold and 0.25 p.c copper. The present useful resource estimate consists of 608,000 tonnes of inferred sources, with a median grade of 6.78 grams per tonne gold and 0.24 p.c copper. The PEA plan is to have Joe Mann operational as soon as Devlin is depleted, and its ore will even be processed on the Copper Rand mill.

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Copper Rand:

Copper Rand was traditionally the most important copper mine within the Chibougamau camp, producing over 16 million tonnes of ore throughout its operational life, which spanned from 1959 to 2008. The mine has glorious exploration potential, significantly at depth, the place restricted drilling was performed earlier than the mine’s closure. Copper Rand has historic reserves and sources, and glorious potential beneath beforehand mined areas.

Board and Administration

Mario Stifano – Govt Chairman and Director

Mario Stifano is a seasoned mining government and chartered skilled accountant with over 16 years of expertise working with exploration, improvement and producing mining corporations. Stifano is at the moment the chief government officer of Galantas Gold. Stifano has held various senior government positions together with chief government officer of Cordoba Minerals, government chairman with Mega Treasured Metals, vice chairman and chief monetary officer with Lake Shore Gold, and vice chairman and chief monetary officer of Ivernia. Stifano has been instrumental in elevating over $700 million to discover and fund mining tasks, together with elevating over $500 million at Lake Shore Gold, to develop three gold mines that are at the moment producing over 180,000 ounces of gold yearly, and are actually a part of the Canadian belongings inside Pan American Silver.

Ernest Mast – President, CEO, and Director

Ernest Mast has 30 years of expertise in varied technical and government roles within the mining business, throughout a variety of commodities, geographies and improvement levels. Mast is on the board of Scottie Sources. Mast beforehand held the positions of president and chief government officer at Primero Mining, vice chairman of company improvement at Copper Mountain Mining, vice chairman of operations at New Gold and president and CEO of Minera Panama S.A., Inmet Mining Company’s subsidiary, creating the $6 billion Cobre Panama venture. Mast started his profession with Noranda and its associates, the place he took on roles of accelerating accountability over a 20-year timeframe. Mast is a member of l’Ordre des ingénieurs du Québec and has a bachelors’ and masters’ diploma in metallurgical engineering from McGill College. Mast additionally obtained post-secondary enterprise coaching at Henley Faculty within the UK and on the Universidad Catolica in Chile.

Gavin Nelson – CFO

Gavin Nelson has over 15 years of finance expertise in public follow and company accounting and reporting, together with being chargeable for all ranges of economic reporting and day-to-day accounting oversight for a number of public mining exploration corporations. Nelson has held various monetary oversight positions in mineral exploration corporations, together with chief monetary officer of Mexican Gold. Nelson is a member in good standing of the chartered skilled accountants of Ontario. Nelson holds a Bachelor of Administrative and Business Research (Finance), with a minor in Political Science, from the College of Western Ontario.

Nicholas Kwong – COO

Nicholas Kwong, P.Eng., MBA, has greater than 15 years of company, technical, operations expertise within the mining business, predominantly in gold and base metals in North American, Australia, Latin American and Saudi Arabia. Most not too long ago, Kwong was basic supervisor at Ma’aden Gold’s’ Sukhaybarat & Bulghah gold mines in Saudi Arabia. There he accomplished the mine and mill growth and modernization which resulted in a big enhance in manufacturing and reduce in unit prices, all whereas controlling capital prices through the COVID-19 pandemic. Prior, he labored at New Gold from 2005 to 2019 in progressively accountable management and administration roles, beginning as a venture engineer for the design and development of the New Afton underground mine and steadily progressing to supervisor of mining engineering and director of technical providers.

Kwong holds a Bachelor of Utilized Sciences in Mining Engineering and a Grasp of Enterprise Administration from the College of British Columbia.