Doubleview Completes the Option Agreement and now Owns 100% of Hat Gold-Copper Property

February 21, 2017|2017, Hat Copper - Gold, News

Doubleview Capital Corp. (“Doubleview”) (TSX-V: DBV) is pleased to announce a very significant development as the Company has fulfilled all provisions of the Option Agreement dated August 29, 2011 and has acquired 100% interest in the Hat Property. The Vendors are in the process of transferring the mineral tenures to Doubleview.

The August 29, 2011 Option Agreement between Doubleview and the Vendors included schedules of cash and stock payments and a minimum work commitment, all of which requirements have now been met, in return for acquisition by Doubleview of 100% interest in all mineral titles that comprise the Hat Property. The Vendors retain a 2% net smelter return (“NSR”) interest of which Doubleview can purchase 1% by making cash payment of $1,500,000.

Doubleview as the sole owner of the property is analyzing the geological model and planning an aggressive drill program for the upcoming season.

Exploration and drilling update:
Doubleview on 15th February 2017 announced partial assay results from 2015 and 2016 Hat Project drilling and its management and geological team are pleased that they have further expanded the Lisle Zone Gold-Copper Porphyry deposit. The remainder of the assay results will be released when they have been verified and added to the Property database.

Mr. Pat McAndless, P.Geo. senior advisor to Doubleview, has commented on the recent exploration results and progress by saying “Congratulations on your excellent results. It takes time to build your story and you are on the way.”

President and CEO, Mr. Farshad Shirvani, M.Sc. Geology commented “I am excited to see the  drill results that we have recently announced as they further expand the Lisle Zone of gold and copper mineralization. The results enhance our understanding of the structural, mineralogical and geological expression of the Hat Porphyry Complex that has not been delimited.  Exploration planning will be designed to increase the dimensions of the Lisle Zone and test other targets, and may enable estimation of our first resource.”

The accompanying table shows composites of analyses announced in the Company’s February 15, 2017 News Release:

DDH   From To Length Au Cu Ag Cu Eq
    (m) (m) (m) (g/t) (%) (g/t) (%)
H023*   24.1 539 514.9 0.18 0.21 0.45 0.34
H023 including 56.72 513 456.28 0.2 0.24 0.5 0.38
H023 and 67.9 400.27 332.37 0.25 0.29 0.55 0.46
H023 and 270.62 367.3 96.68 0.38 0.51 0.36 0.77
H023 and 303.33 346.15 42.82 0.54 0.68 0.47 1.04
H024   3 139 136 0.1 0.11 0.44 0.18
H024 including 3 77 74 0.17 0.19 0.59 0.31
H024 and 3 36.5 33.5 0.38 0.42 1.02 0.69
H024 and 3 26.5 23.5 0.52 0.59 1.22 0.95
H024 and 3 7 4 2.62 3.19 4.0 4.96
H024   234 236 2 0.12 0.32 3.0 0.43
H025 No significant values
H026   7.62 522.03 514.41 0.14 0.19 0.43 0.28
H026 including 7.62 27.8 20.18 0.41 0.39 2.54 0.68
H026 and 189.8 522.03 332.23 0.16 0.22 0.27 0.33
H026 including 189.8 308.37 118.57 0.22 0.25 0.18 0.39
H026 and 252.86 287 34.14 0.28 0.44 0.34 0.63
H026 and including 260.9 522.03 261.13 0.16 0.24 0.31 0.35
H026 and including 260.9 310.47 49.57 0.26 0.39 0.26 0.56
H026 and 454.86 522.03 67.17 0.15 0.35 0.58 0.45
H027, H028, H029, H030 to be reported later.
 
*True widths unknown

Lisle Zone Drill Plan:

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Hat Gold Copper Porphyry Deposit – Lisle Zone Drill Plan

 

Note: dimensions are reported in metric units. CuEq% is a variable calculation using current prices: gold @ $1230/ounce, silver @ $18/ounce and copper @ $2.72/lb. and should not be relied upon in a valuation of the Hat deposit.

Note: dimensions are reported in metric units. CuEq% is a variable calculation using current prices: gold @ $1230/ounce, silver @ $18/ounce and copper @ $2.72/lb. and should not be relied upon in a valuation of the Hat deposit.
Cautionary Note:  Although, as reported, gold-copper mineralization has been found over large distances, in excess of 350 metres in all directions, Doubleview has not proven any resources and there is no assurance that further exploration of the Hat Property will result in the identification of any potentially viable mineral deposits.         

Qualified Geologist:
Erik Ostensoe, P. Geo., a consulting geologist and Doubleview’s Qualified Person with respect to the Hat Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical contents of this news release. He is not independent of Doubleview as he is a shareholder.

About Doubleview Capital Corp.

Doubleview Capital Corp., a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada, and is publicly traded on the TSX-Venture Exchange [TSX-V: DBV], [OTCBB: DBLVF], [GER: A1W038], [Frankfurt: 1D4]. Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the–art exploration methods. The Company’s portfolio of strategic properties provides diversification and mitigates investment risk.

On behalf of the Board of Directors,
Farshad Shirvani, President & Chief Executive Officer

For further information please contact:

Doubleview Capital Corp.
409 Granville St., Suite #880
Vancouver, BC V6C 1T2

Farshad Shirvani, President & CEO
T: (604) 678-9587
E: corporate@doubleview.ca

 

Forward-Looking Statements

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 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.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

 

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