Doubleview Capital Corp. (“Doubleview”) (TSX-V: DBV) is pleased to provide an update on its diamond drilling program at the Hat copper gold porphyry project located in the Stikine Mining District of northwestern British Columbia. The drilling program is the first substantial exploration work on the property since 1979 and is directed to primary exploration targets comprising several areas of copper and gold soil geochemical anomalies that are coincident with historic Induced Polarization chargeability geophysical anomalies.
Diamond drilling commenced on May 24, 2013 and five drill holes with total length 1091.7 metres have been completed. Drill holes Hat 1 – Hat 5 intersected altered andesitic volcanic rocks and dioritic intrusive rocks with short intercepts of weak to strong pyrite and chalcopyrite mineralization but did not fully account for the anomalies.
Drill hole Hat 6, in progress, was the initial test of a separate geophysical target located 800 metres south of holes Hat 1 – Hat 5. Initial reports from the field indicate that sulphide mineralization comprising pyrite and chalcopyrite is present from near surface to current depth of 230 metres.
The current phase I program of drilling is nearing completion. Drill cores are being logged and sampled on site and are being submitted to an accredited laboratory for analysis by industry-standard procedures. QA/QC protocols are being observed. Analytical results will be released when they are received.
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 Hat Project was last investigated by a major company in 1979 and present day exploration methods have not been applied.
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 six mineral tenures with total area 1891 hectares and includes several drill-ready copper-gold exploration targets.
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 provided on site supervision of the drilling 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.
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.
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 Doubleview’s drill program on the Hat Project, 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.