Doubleview Capital Corp. (TSX-V: DBV) Announces Commencement of Diamond Drilling Program and Geophysical Survey near Completion
Doubleview Capital Corp. (“Doubleview”) (TSX-V: DBV) is pleased to announce that it will be commencing the second phase of its diamond drilling program on the Hat Property immediately. Doubleview’s objective under this diamond drill program will be to test anomalous areas of the previously identified Anomaly B and Anomaly C contained within the Hat Property.
The near completed induced polarization geophysical survey grid that covered historic Anomalies B and C as well as portions of Anomaly E was undertaken in order to verify and expand the Hat Property technical database, much of which was compiled more than 40 years ago. Areas of deep overburden and marshy ground where geological information was lacking were included in the survey. Geophysical data are being reviewed by Doubleview’s consultants for use in identifying and prioritizing areas of mineral potential for follow-up investigation.
Anomaly B has approximate dimensions of 1390 metres by 520 metres. Drill hole 2013-H06 of the first phase diamond drill program, situated at the west edge of Anomaly B, intersected 110.1 metres with 0.21% copper and 0.15 grams per tonne gold, including 3.5m of 0.36% Copper and 0.28 g/t Gold; and 19.8m of 0.30% Copper and 0.23 g/t Gold; and 22.9m of 0.31% Copper and 0.18 g/t Gold (see news release dated July 11, 2013). Following a preliminary review of the IP survey outline and other technical data, initial drill holes will be directed to the central parts of Anomaly B.
Anomaly C, with approximate dimensions 1700 metres by 920 metres, has not been drill tested but has anomalous copper in soil values and the strongest chargeability (IP) readings recorded in the current survey including chargeability readings of up to 57 milliseconds close to recently discovered mineralized outcrops.
Drill testing of Anomalies D, E and F will be deferred until additional funds have been raised by the Company. Anomaly D, with dimensions 1120 metres by 520 metres, in addition to strong chargeability readings, has a distinct copper geochemistry anomaly. Anomaly E, with dimensions 820 metres by 660 metres, has strong chargeability and soil geochemistry. Anomaly F, located in the southeast part of the Hat Property, has not been surveyed but has historic prospectors’ trenches with erratic high copper and gold values.
Doubleview has contracted Tahltan Drilling Services Ltd. of Telegraph Creek, B. C. to supply a complete drilling outfit and crew and to perform the second phase of NQ diameter diamond drilling. Mobilization is underway with drilling scheduled to start on October 21. While drilling is in progress, Doubleview may winterize the camp to facilitate a possible winter drilling program.
Drill cores will be examined and sampled on the Hat Property. Analyses will be performed by an accredited analytical laboratory that is wholly independent of the Company. QA/QC protocols will be observed and results will be reported when received by Doubleview.
About the Hat Project
The Hat Project is a highly regarded early stage exploration prospect, with a history of surface exploration (Historical exploration timeline is available on the company’s website), 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), and Galore Creek (Novagold and Teck), where permitting, environmental studies and pre-feasibility and feasibility studies, and at Red Chris, construction, are in progress. The currently active Sheslay Project of Prosper Gold and Grizzly Project of Garibaldi Resources are located in similar geologic terrain immediately west of the Hat Project.
Doubleview holds an option to acquire a 100% interest in the Hat Project, subject to a 2% net smelter return royalty. The Hat Project, located 95 km west of Dease Lake, comprises 3561.4 hectares in seven mineral tenures.
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 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.
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]. Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia, Canada. 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. Doubleview’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.
Suite 310, 675 West Hastings Street
Vancouver, BC V6B 1N2
President & CEO
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 results of Doubleview’s drill program on the Hat Property, 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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