Doubleview Capital Corp. (TSX-V: DBV) Provides Update on Second Phase of Exploration Program, Diamond Drilling and Recently Announced Financing
Doubleview Capital Corp. (“Doubleview”) (TSX-V: DBV) is pleased to announce commencement of ground geophysical Induced Polarization survey on its HAT property located west of Dease Lake, in the Stikine Mining District of northwestern British Columbia. The Sheslay property of Prosper Gold Corp. (TSX.V:PGX) borders the west boundary of the Hat Property.
Approximately 40 km of induced polarization and magnetic surveys will be directed to the 3561.43 hectare Hat property where the Company’s recently completed 1380 metre six hole diamond drilling program tested parts of strongly anomalous areas that were identified by historic and recent geochemical and geological surveys and by geophysical surveys completed in 1979 by a major exploration company. The recent drill holes were the first ever on the property and confirmed the copper-gold alkalic porphyry exploration model that had been proposed by the Company’s management and consultants. The following are partial analytical data from samples of drill cores as reported by an internationally-accredited analytical laboratory, (News Release dated 11/June/2013):
Drill Hole HAT02: from 97.7 m to 119.3m (21.6m) averaged 0.389% copper and 0.287 grams gold/tonne.
Drill Hole HAT03: from 50.5 m to 57.6m (7.1m) averaged 0.214% copper and 0.182 grams gold/tonne
Drill Hole HAT04: from 56.9m to 70.3m (13.4m) averaged 0.189% copper and 0.184 grams gold/tonne
Drill Hole HAT05: from 123.7 m to 128.8m (2.6m) averaged 1.074% copper and 0.837 grams gold/tonne
Drill Hole HAT06: from 72.1m to 182.2m (110.1m) assayed 0.21% copper and 0.154 grams gold per tonne.
The induced polarization and magnetic surveys, using more powerful instruments and superior satellite-based positioning methods, will complement data from the historic surveys posted on Doubleview’s website at
, and in addition will provide greater depth information and better definition of several previously identified anomalous areas. Other prospective areas will be surveyed at a later date. The current survey is designed to cover and further enhance insight on the identified targets as follows:
Target A: Soil Geochem and IP anomaly with approximate dimensions of 1000m x 480m
Target B: Soil Geochem and Relatively Strong IP Chargeability anomaly with approximate dimensions of 1390m x 520m. (Drill Hole HAT0 is located on the edge of target B and is mineralized from near the surface.)
Target C: Soil Geochem and Strong IP Chargeability anomaly with approximate dimensions of 1350m x 920m
Target E: Soil Geochem and Relatively Strong IP Chargeability anomaly with approximate dimensions of 820m x 660m
Details of those areas are included in Doubleview’s recent news releases that can be found on the Company’s website and on SEDAR.
The Stikine Mining District is among the most active exploration areas of the province. Subsequent to Doubleview’s initiation of work on the Hat property, several companies have acquired ground positions nearby: in particular, Prosper Gold Corp. (TSX-V: PGX) by agreement with Firesteel Resources Inc. (TSX-V: FTR) is conducting geophysical surveys and commenced diamond drilling on the Sheslay property located immediately west of Doubleview.
Doubleview, subject to TSX Venture Exchange approval, is completing a non-brokered private placement that will finance the geophysical surveys and a resumption of diamond drilling. A drilling contractor has been engaged and it is expected that drilling will resume immediately following completion of the geophysical surveys.
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.
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.