Doubleview Announces New Discovery at Hat Gold-Copper Porphyry Located at South Extension of the Lisle Deposit
Doubleview Capital Corp. (“Doubleview”) (“the Company”) (TSX-V: DBV, OTC: DBLVF, FRANKFURT: 1D4) announces discovery of new mineralized zone located south of the Lisle Deposit and
completion of its 2019 drilling program at its Hat Gold-Copper Porphyry deposit.
Doubleview in late 2019 deepened one hole (H-026) at the Lisle Deposit and, as detailed in Table 1, drilled four holes (H-031 – H-034) that were directed to a large zone of high chargeability/high magnetic susceptibility located southwest of the Lisle that was identified in 2018 by 3D induced polarization, resistivity and magnetic geophysical surveys. Sulphide mineralization was intersected in all drill holes and included an intercept of near-massive chalcopyrite and magnetite that may represent an important new mineral zone or an extension of the Lisle Deposit. Several other robust exploration targets were identified by the geophysical survey and remain to be evaluated by drilling. The camp was winterized and closed on December 17. All drill core samples have been delivered to an independent analytical lab where they are being analysed for gold, silver, copper, cobalt and other elements. Analytical data, when received, will be reported.
|DH #||North||East||Direction||Inclination||From (m)||To (m)||Total Depth (m)|
Table 1: 2019 Drill Holes
Table 2 includes selected data from previous (2013 – 2016) drilling that discovered and partially outlined the Lisle Deposit. It is too early to determine the relationship of the newly discovered mineralization to the Lisle Deposit.
|Co (ppm)||Au (g/t)||Cu (%)||Ag (g/t)||Length (m)||Cu Eq(%)||Au Eq(g/t)|
Table 2: Selected Lisle Deposit Drill Holes (from 2013 to 2016)
Cu Eq(%) and Au Eq(g/t): Are calculated based on Cu @$2.60/lb, Au @$1503/oz, Ag @$17.5/oz, Co @$17/lb
Drill hole H034 drilled in late 2019 exploration season has intersected mineralization from close to surface and includes several high grade sulphide, including chalcopyrite and magnetite intercepts. Visual inspection of drill core demonstrated that the intensity of mineralization increases with depth. The accompanying photo illustrates a massive chalcopyrite/magnetite intercept from drill hole H034.
Mr. Farshad Shirvani, President and CEO, states that “The newly discovered zone of massive chalcopyrite mineralization in hole H034 may be a very significant addition to our Hat Deposit exploration model. It tested only a very small part of a large geophysically anomalous zone that will be further explored by drilling when work resumes early in 2020. Other areas with similar geophysical signatures located north, northwest and west of the Lisle Deposit will also be drilled“.
- And notes that ”
- the new discovery exhibits the same porphyry mineralization style as the Lisle Deposit
- previous Lisle Deposit analyses showed a Gold to Copper ratio of approximately 1 gram gold per 1% copper
- there is an apparent increase in mineralization intensity with depth
- the Lisle Deposit is open for expansion in all directions
- H034 collar is located 450m south of H023.”
Doubleview has granted 1,100,000 stock options to officers, directors, consultants and employees. The options were granted for a period of 5 years, expiring on January 20, 2025, and each stock option will allow the holder to purchase one common share of Doubleview at an exercise price of $0.10.
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
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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