Doubleview Capital Corp. (“Doubleview”) (TSX-V: DBV) is pleased to announce that drill holes H27 and H28 further extend the main Lisle Zone dimensions to 420m (1377 ft) east-west and 520m (1700 feet) north-south. H27 intersected 412.75m at 0.34% Cu Eq., including 256.24m at 0.42% Cu Eq; And H28 intersected 106.85m 0.36% Cu Eq. in a longer mineralized section of 302.5m at 0.24% Cu Eq. (See Table Below).
The November, 2016 drilling program comprised 2020 metres of drilling in 5 holes. Partial analytical results were included in Doubleview’s Feb 15th, 2017 News Release. The remaining results have now been checked and added to Doubleview’s technical information database. Drill holes H26 and H27 returned long intercepts of gold and copper values that were in line with those from earlier (2013 – 2015) drill holes. The majority of Doubleview’s drilling has been directed to the main Lisle zone, and testing the northern continuation of the Lisle Zone. The Lisle zone has the appearance of an alkalic porphyry style deposit geologically similar to several important B.C. gold-copper alkalic porphyry deposits.
Geological review of the rock units and mineralization in the recent drill holes demonstrates probable continuity between drill holes H26, H27 and H28.
Drill hole H28 (see Table) was directed northerly toward the “E” Anomaly, a possible continuation of the Lisle Zone that has been offset by an as-yet poorly defined fault structure. Several long intercepts of Lisle-Zone type gold-copper mineralization were returned from both shallow and deeper parts of hole H28 and a strong, two metre wide, fault zone was encountered at about 122 metres depth. The 106.8 metre intercept with 0.202 g/tonne gold, 0.214% copper (2135.9 ppm Cu) and 0.73 g/tonne silver (0.36 %Cu Eq.) is from the underside of the fault and is believed to be very significant – it either extends the Lisle Zone about 200 metres to the north or is at the edge of the “E” anomaly. Drilling ceased on December 5, 2016 due to winter conditions and it was not possible to complete additional drilling to determine which of the possible interpretations is valid.
Drill hole H29 was directed to the western edge of anomaly “F” and did not return any significant gold or copper values. Drill hole H-30, due to extreme winter conditions, was suspended before reaching the “target” area.
Doubleview intends to resume exploration of the Lisle Zone when field conditions are suitable and also will investigate nearby areas with technically similar characteristics, including geological, geochemical, chargeability and magnetic responses.
Table 1. Drill Hole Data – 2016 drilling
|
Drill Hole |
|
From (m) |
To (m) |
Length (m) |
Au (g/t) |
Cu (%) |
Ag (g/t) |
Cu Eq (%) |
|
H027 |
|
7.57 |
417.30 |
412.75 |
0.20 |
0.20 |
0.47 |
0.34 |
|
H027 |
including |
7.57 |
36.56 |
28.99 |
0.53 |
0.34 |
1.64 |
0.72 |
|
H027 |
including |
7.57 |
263.81 |
256.24 |
0.24 |
0.24 |
0.58 |
0.42 |
|
H027 |
including |
112.08 |
263.81 |
151.73 |
0.30 |
0.31 |
0.43 |
0.52 |
|
H027 |
including |
175.02 |
263.81 |
88.79 |
0.46 |
0.47 |
0.50 |
0.79 |
|
H027 |
including |
175.02 |
401.70 |
226.68 |
0.26 |
0.26 |
0.38 |
0.44 |
|
H027 |
including |
221.58 |
234.32 |
12.74 |
1.33 |
1.37 |
1.15 |
2.30 |
|
H027 |
And |
411.32 |
442.45 |
31.13 |
0.06 |
0.10 |
0.30 |
0.15 |
|
H028 |
|
7.57 |
13.37 |
5.80 |
0.11 |
0.14 |
0.79 |
0.22 |
|
H028 |
|
124.90 |
427.40 |
302.50 |
0.11 |
0.16 |
0.80 |
0.24 |
|
H028 |
including |
320.55 |
427.40 |
106.85 |
0.20 |
0.21 |
0.73 |
0.36 |
|
H028 |
including |
124.90 |
133.90 |
9.00 |
0.22 |
0.87 |
5.10 |
1.07 |
|
H028 |
including |
154.90 |
208.90 |
54.00 |
0.11 |
0.16 |
0.68 |
0.24 |
|
H028 |
including |
172.28 |
202.90 |
30.62 |
0.15 |
0.18 |
0.70 |
0.29 |
|
H028 |
including |
320.55 |
391.12 |
70.57 |
0.23 |
0.24 |
0.87 |
0.41 |
|
**True widths unknown |
||||||||
Note: dimensions are reported in metric units. CuEq% is a variable calculation using current prices: gold @ $1258/ounce, silver @ $18.4/ounce and copper @ $2.70/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, 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
Drill Plan is located on the website of the company at:
http://www.doubleview.ca/wp-content/uploads/2017/02/NR-2017-03-01-Plan-Map-3.gif
Mr. Farshad Shirvani, President and CEO of Doubleview, is very encouraged by the results from the most recent drilling and is working with the Company’s geological team in planning the next program of drilling. He comments that “We are very excited to get on with our exploration of the Hat Property. Work in the coming season, including drilling and, possibly, geophysics, will be critical to the future of the Property and the Company. One of our objectives will be to obtain sufficiently close-spaced drill hole data to enable estimation of our first resource”. Mr. Shirvani also noted that the 2016 program was conducted efficiently and safely with lowest ever per metre costs.
Quality Assurance and Quality Control
All Hat Property drill core samples were prepared and analysed following rigourous QA/QC procedures. Drill cores were sampled on site by sawing the core lengthwise and placing one half securely in a sample bag that was subsequently forwarded by commercial carriers to a fully accredited analytical laboratory. The remaining half core was stored on the property for possible future reference. At the laboratory samples were dried and then crushed to 70% passing an 80 micron screen. A representative portion of the undersize was pulverized and a 0.5 gram sub-sample was processed by 3:1 Aqua Regia digestion followed by ICP-AES/MS analysis for 51 elements. Doubleview, in order to monitor the reliability of the laboratory’s procedures and instruments, inserted certified standard samples into the sample stream and the laboratory performed and reported duplicate analyses of Hat Project samples as well as analyses of their own standard and blank samples.
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.