DOUBLEVIEW CAPITAL CORP. (“Doubleview”) (TSX-V: DBV) is pleased to announce that it has acquired 2,506.22 hectare mineral tenures located adjacent to and immediately northwest of its Mt. Milligan North copper-gold property situated 90 km north of Ft. St. James, British Columbia. The Mt. Milligan North property now comprises 10,897 hectares and is 100% owned by Doubleview. A 2% NSR royalty is payable on part of the property.
The newly acquired tenures were formerly held by a major Canadian mining company that in 2010 conducted bio-geochemical sampling of evergreen trees and reported favourable results. It is stated in the conclusions and recommendations section of the Assessment report for these tenures:
“The lodgepole pine outer bark biogeochemistry survey conducted in the southeast, drift covered, part of the Nation property identified multi-element anomalies. Levelled by average tree diameter, Cu shows moderately high contrast response in the centre of the survey (Fig. ..). High contrast Ag samples appear to halo anomalous Cu zones to the north and east (Fig. ..). An infill bio-geochemistry survey of both spruce and pine bark is recommended to confirm and resolve the geochemical anomalies identified in the 2010 survey. This survey should be conducted in tandem with a reconnaissance IP array focused on the domains of anomalous Cu and Ag. Coincident bark geochemical anomalies and sizable chargeable bodies would be robust porphyry targets for further testing.” (ARIS #31889)
Farshad Shirvani, President and CEO of Doubleview, comments that
the 2010 and 2011 programs of geochemical soil sampling, conducted on high-magnetic anomalies, revealed strong copper-gold-silver anomalous areas in several parts of the Mt. Milligan North tenures. The recently acquired tenures, by way of online staking, also cover at least two significant magnetic anomalies, of which one coincides with the reported bio-geochemistry results and is along the trend of identified soil survey anomalies on the Mt. Milligan North property. The available information relative to the newly acquired claims will be incorporated into the property database. Doubleview is currently planning a field program that in early summer 2012 will continue to aggressively investigate the various areas of interest.
About the Mount Milligan North Property
The Mount Milligan North Property comprises mineral tenures with total area 10,510 hectares and is located approximately 170 kilometres northwest of Prince George, British Columbia. The Property is accessed by Germansen North Forest Service Road 112 kilometres from Fort St. James and then easterly along well-used logging roads and a network of former haul roads. The nearby Mount Milligan copper-gold deposit currently is being developed by Thompson Creek Metals Co. Inc. at estimated cost of more than $900,000,000.
On the basis of Doubleview’s evaluation of previous work and its own technical surveys, including soil geochemical surveys, the Company and its technical advisers believe that the Mount Milligan North property exhibits geologic characteristics similar to those present at the Mount Milligan mine. However, Doubleview has not verified the information on the Mount Milligan mine and there is no assurance that the Company’s property is necessarily host to Mt. Milligan-type or any deposits.
Erik A. Ostensoe, P. Geo, an independent consulting geologist, is Doubleview’s Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, with respect to the Mount Milligan North Property and has reviewed the contents of this news release.
For further information please contact:
Doubleview Capital Corp.
Suite 310, 675 West Hastings Street
Vancouver, BC V6B 1N2
Farshad Shirvani, Chief Executive Officer
T: (604) 678-9587
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 ability to complete the proposed exploration program on the Mount Milligan North Property, Doubleview’s limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially form 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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