DOUBLEVIEW CAPITAL CORP. (“Doubleview”) (TSX-V: DBV) is pleased to report significant progress in advancing its British Columbia properties.
Hat Copper-Gold Alkalic Porphyry Project, Stikine District
Doubleview has been issued a multi-year permit for the exploration and diamond drilling of its Hat Copper-Gold Porphyry Project (“Hat Project”), located in the Dease Lake area of British Columbia. Doubleview has identified several copper-gold and gold drill targets within the permitted area and plans to commence an exploration and drilling program in 2012.
Highlights of the 2012 exploration and drill program include:
- Induced polarization geophysical surveys to better define the position and dimension of exploration targets.
- 2,500 metres of diamond drilling. Planning and logistics for the drilling program are in progress, including compilation and integration of all exploration data.
- Soil geochemical surveys will be extended to ensure coverage in under-explored parts of the Hat Project.
Drill hole locations will be determined by reference to all available information. The historic database, which includes rock chip samples with as much as 8.9 g/tonne gold and 4.8% copper, was enhanced by Doubleview’s 2011 MMI soil geochemical survey of 587 samples that outlined and confirmed several copper-gold geochemical anomalies.
New Mineral Tenures Acquired near Metropolitan and Mt Milligan North Properties
Doubleview is also pleased to announce that is has acquired, by staking, 511.44 hectares of mineral tenures located southeast of its Metropolitan Property, located in the West Kootenay area. The newly acquired mineral tenures include the historic OPHIR LADE Minfile location, which was a past producer. The tenures are located on the same geologic trend as the Metropolitan Property. Doubleview plans to conduct field studies of its Kootenay mineral tenures in 2012.
Doubleview also acquired, by staking, two mineral tenures totaling 850.16 hectares located immediately south of its Mt Milligan North Property. The newly acquired ground is bordered to the west by the Fjordland Exploration/Serengeti Resources project and to the east by Thompson Creek’s Mt Milligan mine holdings.
About the Hat Property
Doubleview holds an option to acquire a 100% interest in the Hat Project, subject to a 2% net smelter return that is retained by the optionors. The Hat Project, located 95 km west of Dease Lake, comprises six mineral tenures with total area 1891 hectares and includes drill-ready copper-gold exploration targets.
The Hat Project is a highly regarded early stage exploration prospect situated in the Stikine District of northwestern British Columbia where several large copper-gold properties are being actively explored, including Red Chris (Imperial Metals), Schaft Creek (Copper Fox), Galore Creek (Novagold and Teck), and Kutcho (Capstone) where permitting, environmental studies and pre-feasibility studies are in progress. The Hat Project was last investigated by a major company in 1979 and present day exploration methods have not been applied.
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 and approved 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.
On behalf of the Board of Directors
Farshad Shirvani, President & Chief Executive Officer
For further information please contact:
Doubleview Capital Corp.
Suite 310, 675 West Hastings Street
Vancouver, BC V6B 1N2
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 implement and complete an exploration program on the Hat Project, Doubleview requiring additional financing in order to implement its proposed exploration program on the Hat 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 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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