DOT Resources Ltd. (TSX VENTURE: DOT) ("DOT" or the "Corporation")
announces that an updated independent National Instrument ("NI")
43-101 compliant mineral resource estimation ("Mineral Resource
Estimate") has been filed on the System for Electronic Document
Analysis and Retrieval ("SEDAR") in respect of DOT's 100% owned
copper porphyry property (the "Property") located 17 kilometres
south of the Highland Valley copper porphyry district in Central
British Columbia, Canada.
The report entitled, "Technical Report On A Diamond Drill
Program And Mineral Resource Estimate For DOT Resources Ltd's Dot
Property" (the "Aurora Report"), dated November 30, 2010, was
prepared by Aurora Geosciences Limited ("Aurora") and complies with
NI 43-101 and the Canadian Institute of Mining ("CIM") standards
for reporting mineral resources (see DOT News Release dated
December 1, 2010). A full copy of the Aurora Report can be obtained
directly from DOT, or the Corporation's website at
www.dotresourcesltd.com, or the Corporation's profile on SEDAR at
www.sedar.com.
Following are a number of highlights of the Aurora Report:
-- at a 0.20% copper cut-off, the estimated indicated resource was 5.33
million tonnes grading 0.45% copper, 3.28 g/t silver, 0.05 g/t gold and
0.006% molybdenum representing a 19% increase relative to the previous
NI 43-101 Mineral Resource dated June 22, 2009), and
-- at a 0.20% copper cut-off, the estimated inferred resource was 4.28
million tonnes grading 0.46% copper, 1.99 g/t silver, 0.02 g/t gold and
0.004% molybdenum representing a 79% increase relative to the previous
NI 43-101 Mineral Resource dated June 22, 2009), and
-- the five zones of mineralization included in the resource estimate are
open along strike and down dip.
The Aurora Report makes various recommendations for further
exploration of the Property, including trenching, metallurgical
testing on the sulphide mineralization, geophysical surveying by
Induced Polarization ("IP") of a large portion of the property and
further diamond drilling to better understand the IP anomalies and
to determine the extent of mineralized zones located to date.
These recommendations are currently being reviewed with the
objective of incorporating them into a 2011 exploration program.
That program will be announced once finalized.
John J. Komarnicki, Chairman and CEO of DOT stated, "Management
is very encouraged with the exploration potential revealed in the
Dot Property to date. The significant increase in resources was
achieved with a limited amount of diamond drilling indicating the
substantial potential of the property. Our 2011 exploration program
will focus on expanding the resource base through further
geophysical exploration and diamond drilling. We look forward to
proceeding with the next phase of exploration activities by the
third quarter of 2011".
CAUTIONARY NOTE CONCERNING RESERVE AND RESOURCE ESTIMATES
This news 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.
ABOUT DOT
DOT is a Canadian corporation focused on the exploration and
development of its copper porphyry property in central British
Columbia. DOT is planning to assess additional 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
The Corporation's common shares trade on the TSX Venture
Exchange under the symbol DOT. DOT's website can be accessed at
www.dotresourcesltd.com.
Elmer B. Stewart, MSc., P. Geol., DOT's Qualified Person as
defined by NI 43-101 has reviewed and verified the technical
information contained in this news release.
Forward-Looking Statements
Certain statements contained in this news release constitute
"forward-looking statements" as such term is used in applicable
Canadian and United States 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
resources, future exploration programs, 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, 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 raising of capital through the sale of shares, the
effects of a recessionary economy and such other business risks as
discussed herein and other publicly filed 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 is no certainty that additional exploration will
locate additional resources and that 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
(TSXV:DOT)
Historical Stock Chart
From Aug 2024 to Sep 2024
(TSXV:DOT)
Historical Stock Chart
From Sep 2023 to Sep 2024