DOT Announces the Initiation of an Exploration Program on the Corporation's Merritt, BC Properties
CALGARY, ALBERTA--(Marketwire - Feb 27, 2013) - DOT Resources Ltd. (TSX VENTURE:DOT) ("DOT" or the "Corporation") is pleased to announce the initiation of a three week geophysical evaluation of the Corporation''s Merritt properties in BC. This geophysical evaluation will be completed with new technology referred to as ELF, which is an extremely low frequency ground equivalent survey to Geotech''s airborne ZTEM system. The ELF system is considered an excellent tool for evaluating potential mineralization, alteration and structure related to porphyry type deposits and has the ability to look down to a depth of 1.5 kilometres ("kms"). The geophysical program is designed to evaluate encouraging known areas of mineralization with the intent to identify drill targets for later in 2013.
DOT has acquired four (4) new properties to increase the Corporation''s land holdings in the Merritt, BC area to 26,650 acres (including the wholly owned Dot Property). The four properties (Peacock, Cube, Copper Belle and Promotory Hills) are all Fe-Cu or Cu+/- Mo, Au, Ag occurrences where historic mineralization, up to 7.5% Cu values, have been returned (Copper Belle). These properties are considered excellent additions to DOT''s holdings in the Merritt area (see Figure 1).
PEACOCK ROCK SAMPLING RESULTS FROM 2012
The Peacock rock sampling program was conducted in October 2012 on the 3,373 acre property that is located approximately 19 kms northeast of the town of Merritt, BC. The objective of the survey was to confirm historical assay information and use these locations to orient the ELF survey. The showings on Peacock are contained within highly mineralized quartz veins with over 40% of the samples returning values greater than 1% Cu and up to 4.562% Cu (see summary Table 1 below and Figure 2).
Sample Number | Cu | Cu | Mo | Mo | Au | Ag | ||||||||||
2 | > 10,000 | 1.334 | % | Tr | 42 | 6.4 | ||||||||||
3 | > 10,000 | 1.838 | % | Tr | 223 | 20.3 | ||||||||||
7 | > 10,000 | 2.228 | % | Tr | 355 | 20.1 | ||||||||||
10 | > 10,000 | 0.908 | % | Tr | 377 | 3.1 | ||||||||||
11 | > 10,000 | 0.990 | % | Tr | 10 | 5.5 | ||||||||||
13 | > 10,000 | 1.264 | % | >2,000 | 0.290 | % | 92 | 3.9 | ||||||||
14 | 5190 | 0.503 | % | >2,000 | 0.564 | % | 46 | 1.2 | ||||||||
18 | > 10,000 | 1.052 | % | Tr | 129 | 10.7 | ||||||||||
27 | > 10,000 | 1.005 | % | Tr | 11 | 3.6 | ||||||||||
29 | > 10,000 | 1.332 | % | Tr | 377 | 9.3 | ||||||||||
30 | > 10,000 | 2.306 | % | Tr | 633 | 17.9 | ||||||||||
35 | > 10,000 | 2.554 | % | Tr | 892 | 34.8 | ||||||||||
36 | > 10,000 | 2.789 | % | Tr | 711 | 37.8 | ||||||||||
37 | > 10,000 | 2.962 | % | Tr | 869 | 47.3 | ||||||||||
38 | > 10,000 | 3.107 | % | Tr | 989 | 44.0 | ||||||||||
39 | > 10,000 | 4.562 | % | Tr | 1076 | 64.9 | ||||||||||
40 | > 10,000 | 3.388 | % | Tr | 942 | 49.9 |
Table 1. Peacock Assays - 2012 |
The objective of the geophysical survey will be to identify extensions of known copper mineralization to help target drill collars for later in 2013. The ELF survey will be oriented over the Dot Property to provide survey results which can be evaluated using previous drilling and geophysical surveying results. These conceptual results will be used to help evaluate targets on the four other DOT properties on which the ELF survey will be completed.
John J. Komarnicki, President and CEO, stated "We are very pleased to have extremely encouraging confirmatory results from our Peacock property and will be commencing the geophysical survey over all five of our properties. This survey will be completed in March and the results of the survey will be made available thereafter. We are focusing on the structures and alteration halos associated with these mineralized zones. We are attempting to locate down dip and strike extensions of the known mineralized zones. It is postulated by DOT that a number of drill targets will be delineated for follow-up later in 2013 upon completion of the ELF program."
ABOUT DOT
DOT is a Canadian corporation focused on the exploration and development of its copper properties in central British Columbia. One of its five properties, the Dot Property, has NI 43-101 copper resources as per Aurora as noted in Tables 1 and 2 below (over a range of copper cut-off grades):
TABLE 1 - Dot Property Indicated Mineral Resource Estimate (1) | ||||||||||||||
Copper cut-off | tonnes | Copper (%) | Silver | Gold (g/t) | Molybdenum (%) | Copper equivalent (%) | ||||||||
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 - Dot Property Inferred Mineral Resource Estimate (1) | ||||||||||||||
Copper cut-off | tonnes | Copper (%) | Silver | Gold (g/t) | Molybdenum (%) | Copper equivalent (%) | ||||||||
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 | ||||||||
(1) Effective as of October 4/10 as per Aurora Goesciences Limited per news release dated December 1/10. |
DOT is planning to assess future copper and copper-gold properties for exploration and development opportunities throughout North and South America.
DOT shares trade on the TSX Venture exchange under the symbol DOT. The Corporation''s website can be accessed at www.dotresourcesltd.com.
Gary J. Vivian, MSc. P. Geol., President of Aurora, is the Corporation''s nominated Qualified Person responsible for monitoring the supervision and quality control of the programs completed within DOT Resources Ltd. Mr. Vivian 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 US securities 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, the statement concerning the completion of the geophysical survey and drill targets as anticipated and other factors or events described in this news release should be reviewed as forward-looking statements to the extent they involve estimates thereof.
Such forward-looking statements 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, the inability to complete the geophysical survey and drill targets as anticipated; general market conditions 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 events or results to differ materially from those described in forward-looking statements, there may be factors that cause actions, events or results not to be as anticipated, estimated of 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, estimates and opinions on the date the statements are made and the Corporation undertakes no obligation to update forward-looking statements should these beliefs, estimates and opinions or other circumstances change, except as required by applicable law. Investors are cautioned that such forward-looking statements involve risks and uncertainties. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
To view the maps associated with this press release, please visit the following link: http://media3.marketwire.com/docs/DOT27_02_Maps.pdf.
