Doubleview Capital Corp. Drills 110m of 0.21% Copper and 0.15 g/t 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)
Doubleview Capital Corp. (“Doubleview”) (TSX-V: DBV) is pleased to provide a summary of initial assay results from its recently completed diamond drilling program at the Hat copper gold porphyry project located 95 km west of Dease Lake in the Stikine Mining District of northwestern British Columbia. The drilling program was the first substantial exploration work on the property since 1979 and was 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. Doubleview holds an option to acquire a 100% interest in the 1891 hectare Hat Project, subject to a 2% net smelter return royalty.
Diamond drilling commenced on May 24, 2013 and six drill holes with total length 1380 metres were completed. Drill holes Hat01 – Hat05, directed to the area of a highly regarded geochemical and geophysical anomaly, intersected altered andesitic volcanic rocks and dioritic intrusive rocks with intercepts of pyrite and chalcopyrite mineralization and abundant magnetite. Drill hole Hat06, the initial test of a geophysical target located 800 metres south of holes Hat01 – Hat05, intersected similar altered andesitic volcanic formations and varying amounts of sulphide mineralization, including pyrite, chalcopyrite and minor bornite. Drill hole Hat06 core visuals suggest that it hit the edge of an alkalic copper gold porphyry environment. (Assays from Drill Hole Hat06 returned Copper values, from <0.001% to 6.083% and Gold values from <0.005 g/t to 4.674 g/t)
Drill cores were logged and sampled on site by Company geologists and submitted to an accredited ISO 9001-2008 laboratory for analysis by industry-standard procedures. Core sample lengths varied from 40 cms to maximum length 4 metres. 166 core samples were submitted. QA/QC protocols and security were observed in the field and while samples were in transit.
Core samples were crushed to 80% passing 10 mesh and 250 grams were then pulverized to 85% passing 200 mesh. A 30 gram portion was then digested by hot aqua regia and processed using multi-element ICP emission spectrometry analysis for 24 elements. In addition, gold values were determined for 30 gram portions by lead collection fire assay fusion methods with atomic absorption spectrometric finish. Standard samples were introduced into the sample batches and the laboratory for internal monitoring purposes also included analytical duplicate, standard and blank samples to ensure quality of their data. Highlights from the analytical data include the following:
Table 1. Summary of Drill Core Assays
|Hole No.||From (m)||To (m)||Length (m)||Copper Cu(%)||Gold Au(ppm)|
Discussion of Drill Data
Drill holes Hat01 to Hat05 were directed to the primary exploration targets as identified by reference to coincident historic copper-in-soil geochemical data and induced polarization and magnetic geophysical data and more recent prospecting and technical work by the property’s optionors. Drill cores comprised epidote and magnetite-rich andesitic volcanic rocks and dioritic intrusive rocks with narrow sections of chalcopyrite mineralization. Drill hole Hat06 intersected a similar andesitic and dioritic formation with less epidote and magnetite and included a 110.1 metre section with 0.21% copper and 0.15 g/t gold and, as shown in Table 1, other narrower but higher grade sections.
Company management and consultants are reviewing all property data, including drill hole data, and have recommended continuation of diamond drilling to further define the copper mineralized zone in drill hole Hat06 and to explore several other highly prospective areas of the property. A detailed induced polarization geophysical survey of approximately 40 line-kilometres will be conducted to further define the previously identified exploration targets. Major exploration targets are tabulated in the following Table;
Table 2. Exploration Target Areas
|Exploration Target||Anomalies||Approximate dimensions||Remarks|
|Target A||Soil geochem and IP||1000 m x 480m||Partially Drilled in Phase I Exploration|
|Target B||Soil geochem and Relatively Strong Chargeability||1390 m x 520m||Area of Drill HAT06|
|Target C||Soil Geochem and Strong Chargeability||1350 m x 920m|
|Target D||Soil geochem and IP||1120m x 520m|
|Target E||Relatively Strong Chargeability and Soil Geochem||820m x 660m|
|Target F||Soil and Rock Geochem||550m x 300m|
1- No drilling, sampling or recovery issues are believed to materially impact the accuracy of these results
2- True widths are not known
The Hat Project is located in one of the most active exploration areas in British Columbia. Following a burst of recent claim staking, numerous junior companies and several major mining companies are active in the area.
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.
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
Farshad Shirvani, M.Sc.
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.
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