Doubleview Capital Corp. (“Doubleview”) (TSX-V: DBV) is pleased to announce assay results from the Company’s 2014 diamond drilling program on its 3561 hectare Hat Property located in the Sheslay Valley of the Stikine Mining District of British Columbia. Of particular significance are assays from Drill Hole H11 that intersected 451m (1480 ft) with 0.33% CuEq including 51.82m (170 ft) with 0.64% CuEq and from DH H12 that intersected 243m (797 ft) with 0.33% CuEq including 94m (308 ft) with 0.60% CuEq. Drilling also intersected elevated and possibly important gold values, including in DH H12 one meter with 5.92 g/t Au at 199m and one meter with 8.04 g/t Au at 299m depth.
Assays are uncut, length-weighted average values. True widths are unknown.
Doubleview’s management and consultants believe that Drill Hole H12 from 146m to 436m depth passed through the top section of a syeno-gabbro intrusion (the “Sheslay Red Stock”) that is host to the strong zone of copper and gold mineralization that also was recognized in 2013 drill holes. The Sheslay Red Stock has not previously been recognized in the District.
Doubleview in future will refer to geophysical “Anomaly B” that includes the Sheslay Red Stock mineralization as the “Lisle Zone” in recognition of Mr. Tom Lisle’s more than 30 years of prospecting and other exploration activities in the Sheslay District, including the discovery of the Dick Creek copper zone (aka Star zone) now being explored by Prosper Gold. Now retired, Mr. Lisle is a co-vendor of the Hat Property. His dedication and inspired efforts are directly responsible for generating the current interest that makes the Sheslay District the most active mineral exploration scene in British Columbia.
Drilling commenced on March 27 and continued to April 29, 2014. 1588.8 metres were drilled in five holes: H11, H12, H13, H14 and H15. The complete drilling outfit remains on the property.
[Note that Hole H11 that was suspended at depth 314.11 metres in November, 2013 was re-entered and deepened to final depth of 463.10 metres.] Total drilling on the Hat Property since commencement in May, 2013 is now 4169.1 metres in 15 drill holes.
Quality Assurance and Control
Following examination by Doubleview’s technical staff, cores were halved by use of diamond-blade equipped saws: one half was forwarded to an internationally accredited analytical laboratory, being ALS Minerals (ALS Canada Ltd.) in North Vancouver, BC, and one half was retained in the field for future reference. Appropriate QA/QC protocols were observed both in the field and in the laboratory. In the lab 762 samples, including core, duplicate and standard samples, were weighed then processed by crushing and pulverizing, followed by four acid digestion and induced coupled plasma-atomic emission spectrometry (ICP-AES) determination of 33 elements. Gold values for 50 gram portions of all samples were determined by fire assay with atomic absorption finish. Of the 762 samples, 715 were core samples and 47 were standard or prep duplicate samples. Independently the laboratory also provided QC Certificates of Analysis for standard, blank, duplicate and prep duplicate samples.
Drill hole data are summarized in Table 1.
Table 1. Drill Hole Location Data
Doubleview has received complete analytical and drill hole data from the April 2014 drilling. Highlights are presented in Table 2.
Table 2. Summary of Significant Assay Data (Widths are drill hole lengths and true widths cannot be determined from the data and information currently available.)
**The % copper equivalent estimate was based on copper, gold and silver values and metal prices and does not make any provision for metallurgical recoveries for the metals. The formula used to calculate copper equivalent values is: %CuEq = [Cu% + (Au g/t*0.60478) + (Ag g/t*0.00911]: using metal prices as of 13/05/2014. Silver values are only included for samples analysed by four-acid digestion/ICP-ES preparation method with detection limit of 1 ppm Ag.
Caution: There are no mineral resources or mineral reserves on any part of the Hat Property and there is no certainty that any part of the identified copper-gold mineralization will ever be converted to such resources or reserves.
Drilling – Lisle Zone (“B” Zone)
The recently completed drill program was designed (1) to extend the previously identified zone of copper-gold mineralization related to chargeability anomaly “B” (aka the Lisle Zone) and (2) to initiate drilling of the so-called “Anomaly C” located approximately 2.5 km west of “B”.
As reported in News Release dated January 20, 2014, drill hole H11 returned 313.3 metres with 0.22% copper and 0.18g/tonne gold (0.32% copper equivalent). In April, 2014 drill hole H11 was re-entered at depth 313.3 metres and extended to final depth 463.1 metres. The thickness of the previously reported intersection was extended to 451 metres with 0.22% copper, 0.17 g/tonne gold and 0.59 g/tonne silver (0.33% CuEq).
Drill hole H-12, collared 152 metres west and 50 metres south of hole H11, was inclined at -60 degrees to the south and returned several intervals with copper-gold mineralization, including from 188 to 434 metres, 246 metres, with 0.20% copper, 0.23 g/tonne gold and 0.26 g/tonne silver (0.35% CuEq). The mineralization is interpreted as the west continuation of the Anomaly B, Lisle Zone first recognized in H8 and H11.
Drill hole H13, inclined at -80 degrees to the north, also drilled several sections of copper-gold mineralization, including from 92 to 152 metres, 60 metres, with 0.24% copper, 0.12 g/tonnes gold and 0.70 g/tonne silver (0.32% CuEq).
The “Lisle zone” mineralization now has been found from Hole H6 (2013 drilling) to Hole H8, a distance of 958 metres and is “open” to extension in all directions. Doubleview believes that “Lisle” zone mineralization represents a very important new discovery with the potential, on the basis of technical data (geochemistry, geology and geophysics) and diamond drilling, to become a significant addition to the overall mineral inventory of the Stikine district of northwest B. C.
Following completion of drill hole H13, Doubleview initiated diamond drill testing of the “Anomaly C” area where technical surveys indicated an environment similar to that found at Anomaly B, including copper in outcrops and soils, and strongly anomalous chargeability. Drill hole H14, drilled southerly at -45 degrees, with total length 336.8 metres, encountered copper-gold mineralization throughout, averaging from 174 to 268 metres, 94 metres with 0.08% copper and 0.03 g/tonne gold, including a 26 metre section, from 242 to 268 metres, that averaged 0.21% copper and 0.08g/tonne gold. Drill hole H15, inclined northerly at -45 degrees to total length 208.8 metres, returned 1.2 metres with 0.30% copper and 0.20 g/tonne gold.
Interpretation of drill hole analytical and other data from holes H14 and H15 appears to indicate that Anomaly C geology and mineralization is similar to that found at Anomaly B, and may be a continuation of the Lisle (“B”) Zone. That possibility will be investigated later this year by further geophysical surveys and drilling. The total distance between the collars of drill holes H08 (Anomaly B) and H14 (Anomaly C) is 2.5 km.
The historic Hoey mineral zone that lies 2 km southeast of drill hole H08 has geologic characteristics similar to the Anomaly B zone but has not been investigated by Doubleview.
Anomaly E, a strong geochemical and chargeability anomaly situated 500 metres north of the Lisle Zone, has not been investigated by Doubleview.
Logistics – Northwest British Columbia
Northwest British Columbia is currently the scene of much mineral-related exploration and development, with one mine in start-up (Imperial Metal’s Red-Chris deposit), and several advanced staged projects in the permitting phase, including Teck/Novacopper’s Galore Creek deposit, Teck/Copper Fox’s Schaft Creek deposit, Pretivm, Seabridge, anda large number of earlier-stage exploration projects, most of which are, like the Hat Property, located close to or in the geologically favourable transition zone from the Coast Intrusions to the Intermontane Physiographic province. The area is served by Highway 37, a provincial highway, and the Northwest Transmission Line that will connect to the provincial power grid, is nearing completion.
Despite the fact that all Hat Property work requires costly helicopter support, Doubleview has achieved total drilling costs comparable to those found elsewhere in British Columbia. Local communities are a source of capable employees and the Doubleview benefits from access to supportive businesses and services available in the town of Smithers. Dease Lake, located 95 km northeast of the Hat Property, population 350, provides logistical support, health care and other services.
The Hat Project is fully permitted and the Company is working closely with local contractors and stakeholders with a view to resuming property work in June 2014.
Doubleview holds an option to acquire 100% interest in the Hat Project.
Erik A. Ostensoe, P. Geo, a consulting geologist, is Doubleview’s Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, with respect to the Hat Project and has reviewed, approved and verified the technical disclosure of this news release. Mr. Ostensoe is not independent of Doubleview as he is a shareholder and is a co-optionor of the Hat Project.
About Doubleview Capital Corp.
Doubleview Capital Corp. is a Canadian resource exploration and development company located in Vancouver, British Columbia that is publicly traded on the TSX-Venture Exchange with the symbol TSX-V:DBV.
Doubleview identifies, acquires and finances quality precious and base metal exploration and mining projects in North America and more specifically British Columbia, Canada. Doubleview’s objective is to increase shareholder value through strategic and quality Gold, Copper and Silver project acquisitions, followed by application of advanced, state of the art, exploration methods.
On behalf of the Board of Directors,
Farshad Shirvani, President & Chief Executive Officer
For further information please contact:
Doubleview Capital Corp.
Vancouver, BC V6B 1N2
T: (604) 678-9587
Farshad Shirvani, President & CEO
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Doubleview cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Doubleview’s control. Such factors include, among other things: risks and uncertainties relating to Doubleview’s current exploration and drilling activities, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Doubleview undertakes no obligation to publicly update or revise forward-looking information.
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