DOT Resources Ltd. (TSX VENTURE: DOT) ("DOT" or the "Corporation")
is pleased to announce the results of an updated National
Instrument ("NI") 43-101 compliant mineral resource estimation
("Mineral Resource") in respect of its 100% owned property (the
"Property") in Central British Columbia, Canada.
Compared to the Mineral Estimation report dated June 22, 2009,
the current mineral resources as of November 30, 2010, at a 0.20%
copper cut-off, have increased as follows:
-- Inferred resources up 79% to 4.28 million tonnes at a copper equivalent
grade of 0.49%.
-- Indicated resources up 19% to 5.33 million tonnes at a copper equivalent
grade of 0.54%,
"We are very pleased of the success of our 2009 winter drilling
program and of the increase in resources," as stated by John J.
Komarnicki, Chairman and CEO of DOT, "This updated resource report
illustrates the potential of the Property. The recommendations for
further work contained in the Aurora Report will be considered as
we formalize the details of the next exploration phase which we
anticipate will begin in the first half of 2011."
MINERAL RESOURCE REPORT
The updated independent Mineral Resource Estimate ("Mineral
Resource") report titled "Technical Report on a Diamond Drill
Program and Mineral Resource Estimate For DOT Resources Ltd's Dot
Property (the "Aurora Report") was prepared by Aurora Geosciences
Limited ("Aurora") is dated November 30, 2010 and is in accordance
with NI 43-101 and the Canadian Institute of Mining ("CIM")
standards for reporting mineral resources. It is anticipated that
the NI 43-101 Technical Report will be filed on SEDAR within 45
days in accordance with NI 43-101.
The current Mineral Resource incorporates all diamond drilling
results from the Property including the assay results from 15
diamond drill core holes completed in late 2009 and early 2010
totaling 4,355.6 m.
Current Mineral Resource categories over a range of copper
cut-off grades are summarized in Tables 1 and 2.
TABLE 1 - Indicated Mineral Resource Estimate (1)
The indicated resources for the Property over a range of copper
cut-off grades are listed below:
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Copper Copper
cut-off Copper Silver Gold Molybdenum equivalent
(%) tonnes (%) (g/t) (g/t) (%) (%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
0.1 6,498,000 0.43 3.28 0.04 0.006 0.50
----------------------------------------------------------------------------
0.2 5,328,200 0.45 3.28 0.05 0.006 0.54
----------------------------------------------------------------------------
0.3 3,955,900 0.53 3.93 0.05 0.006 0.64
----------------------------------------------------------------------------
0.4 2,915,900 0.62 4.63 0.05 0.006 0.74
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TABLE 2 - Inferred Mineral Resource Estimate
The inferred resources for the Property over a range of copper
cut-off grades are listed below:
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Copper Copper
cut-off Copper Silver Gold Molybdenum equivalent
(%) tonnes (%) (g/t) (g/t) (%) (%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
0.1 6,615,900 0.35 1.46 0.01 0.003 0.37
----------------------------------------------------------------------------
0.2 4,279,700 0.46 1.99 0.02 0.004 0.49
----------------------------------------------------------------------------
0.3 2,971,100 0.56 2.54 0.02 0.004 0.60
----------------------------------------------------------------------------
0.4 1,969,800 0.70 3.35 0.02 0.004 0.75
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Notes:
(1) Mineral resources that are not mineral reserves do not have
demonstrated economic viability. See "Cautionary Note Concerning
Reserve and Resource Estimates".
(2) Rounding differences may occur from those numbers presented in the
Aurora Report following "best practice" principals.
(3) The Mineral Resource set out above for the Property is based on a 3D
geologic model and wireframe restricted block model that integrated
the exploration work on the Property up to the end of January, 2010.
The block model used a cell size of 10 m by 10 m by 10 m and Ordinary
Kriging interpolation technique was performed at various search radii
and ellipsoid orientations.
(4) A composite value of greater than 0.10% copper was used as the lower
limit for the definition of mineralization.
(5) The Indicated and Inferred mineral resource categories for the
Property set out in Tables 1 and 2 comply with the resource
definitions of the CIM and NI 43-101: Standards of Disclosure for
Mineral Projects.
(6) Copper equivalent grades are calculated using the following average
metal prices: US$3.00/lb copper, US$18.00/oz silver, US$14.00/lb
molybdenum, US$1,200/oz gold and assumes 100% recovery of all metals.
Note: the copper equivalency determined is essentially a semi-
quantitative number in that it is not based on metallurgical studies
and does not address metal recovery and a host of other production
considerations.
BASIS OF RESOURCE ESTIMATE
The current resource estimate was prepared by Mr. Ronald James
Robinson, BSc., P.Geol., a consulting geologist from Aurora, who is
an independent qualified person within the meaning of NI 43-101.
Mr. Robinson has reviewed and verified the technical information
that forms the basis of and has been used in the preparation of the
current mineral resource estimate and this news release. Mr.
Robinson reviewed all analytical data, diamond drill hole logs,
QA/QC data, density measurements, and sampling, diamond drilling
and analytical techniques.
Aurora used Gemcom's Surpac geology and mine modeling design and
analysis software and an Ordinary Kriging wireframe restricted
linear block model to estimate the current mineral resources
contained in five of the mineralized zones on the Property.
Classification methodology used to assign a level of confidence to
the mineral resources conforms to the CIM mineral resource
definitions referred to in NI 43-101. The analytical results and
other technical information included in the current resource
estimate have been previously announced by way of news releases
over the past year and are available on www.sedar.com.
Top cut analyses were not performed on the input data set prior
to block model estimation. Using these analyses, the assay values
for the drill holes used in the resource estimate were composited
and composite values greater than 0.10% copper were used for the
definition of mineralization.
All samples contained within the mineralized wireframe were
composited to a standard length of 2.0 m for geostatistical
analysis and interpolation. Variography was performed on the assay
data within the mineralized wireframe to generate a series of
semi-variograms. These variograms were incorporated into the search
ellipsoid parameters used in the interpolation process.
Based on the geological model, exploration grid, search
ellipsoid ranges and composite sizes and, the data used in the
resource estimate was block modeled with a block size of 10 m by 10
m by 10 m for the purposes of the resource estimate.
CAUTIONARY NOTE CONCERNING RESERVE AND RESOURCE ESTIMATES
This press release and other information released by DOT uses
the terms "resources", "indicated resources" and "inferred
resources". United States investors are advised that, while such
terms are recognized and required by Canadian securities laws, the
United States Securities and Exchange Commission (the "SEC") does
not recognize them. Under United States standards, mineralization
may not be classified as a "reserve" unless the determination has
been made that the mineralization could be economically and legally
produced or extracted at the time a reserve determination is made.
Mineral resources that are not mineral reserves do not have
demonstrated economic viability.
United States investors are cautioned not to assume that all or
any part of Indicated resources will ever be converted into
reserves. Inferred resources are in addition to Indicated
resources. Inferred resources have a great amount of uncertainty as
to their existence and as to whether they can be mined legally or
economically. It cannot be assumed that all or any part of an
inferred resource will ever be upgraded to a higher category.
United States investors are cautioned not to assume that all or any
part of an inferred resource exist, or that it can be mined
economically.
NI 43-101 is a national instrument developed by the Canadian
Securities Administrators, which established standards for all
public disclosure an issuer makes of scientific and technical
information concerning mineral projects. Unless otherwise
indicated, all resource estimates contained in this press release
or released by DOT in the future, have been or will be prepared in
accordance with NI 43-101 and the CIM and Petroleum Classification
System. The requirements of NI 43-101 are not the same as those of
the SEC.
QUALITY CONTROL
The drilling program and sampling protocol was completed under
the supervision of Aurora Geosciences Ltd. A rigorous quality
control and quality assurance protocol was used during the drilling
program, including blank, duplicate and reference samples with each
batch of assays. All drill core samples were analyzed by atomic
absorption and fire assay at Eco Tech Laboratory Ltd. in Kamloops
British Columbia. Eco Tech Laboratory Ltd. is registered for
International Standards Organization ("ISO") rating 9001-2000 and
is independent of DOT. Mr. Robinson has verified the data that
forms the basis for the mineral resource estimate and the technical
information contained in this press release.
Elmer B. Stewart, MSc., P. Geol., DOT's Qualified Person as
defined by NI 43-101 has reviewed the technical information
contained in this release.
ABOUT DOT
DOT is a Canadian corporation currently focused on the
exploration and development of its copper property in central
British Columbia. The Corporation is planning to assess future
copper and copper-gold properties for exploration and development
opportunities throughout North and South America.
DOT owns a 4,800 acre, 100% controlled porphyry copper +/-
molybdenum, gold, silver property located 17 kilometres south of
the Highland Valley Mining District, in central British
Columbia.
DOT shares trades on the TSX Venture exchange under the symbol
DOT. The Corporation's website can be accessed at
www.dotresourcesltd.com.
Forward-Looking Statements
Certain statements contained in this news release constitute
"forward-looking statements" as such term is used in applicable
Canadian and US laws. These statements relate to analyses and other
information that are based on forecasts of future results,
estimates of amounts not yet determinable and assumptions of
management. In particular, any statements concerning the timing,
content and success of future exploration or geophysical survey or
the ability to obtain funding to complete same and other factors
and events described in this news release should be viewed as
forward-looking statements to the extent that they involve
estimates thereof. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects" or "does not expect", "is expected", "anticipates" or
"does not anticipate", "plans", "estimates" or "intends", or
stating that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved) are not
statements of historical fact and should be viewed as
"forward-looking statements". Such forward-looking statements,
including but not limited to, the amount of estimated
mineralization, the timing and possible outcome of possible pending
economic evaluations, the Corporation's liquidity and financial
capacity, the Corporation's funding sources to meet various
obligations and other factors and events described in this
document, involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of the Corporation to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Such risks and other factors
include, among others, potential drilling targets, exploration
results, the timing of future diamond drilling, geophysical survey
results, the availability of capital to fund exploration activities
and the resulting dilution caused by the rising of capital through
the sale of shares, the effects of the recessionary economy and
such other business risks as discussed herein and other publically
filled disclosure documents. Although the Corporation has attempted
to identify important factors that could cause actual actions,
events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate as actual results and future events could vary or
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements contained in this news release.
Forward-looking statements are made based on management's
beliefs, assumptions, estimates and opinions on the date the
statements are made and the Corporation undertakes no obligation to
update forward-looking statements if these beliefs, estimates and
opinions or other circumstances should change, except as required
by applicable law. The forward-looking statements contained herein
are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange Inc. nor its Regulation
Services Provider (as that term is defined in the Policies of the
TSX Venture Exchange Inc.) accepts responsibility for the adequacy
or accuracy of this release.
Contacts: DOT Resources Ltd. Ihor P. Wasylkiw Chief Information
Officer +1 (403) 264-2647 DOT Resources Ltd. Don D. McKechnie Chief
Financial Officer +1 (403) 264-2647 www.dotresourcesltd.com
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