DOUBLEVIEW CAPITAL CORP. (“Doubleview”) (TSX-V: DBV) is pleased to announce that it has received the results from its 2011 soil sampling program on its Hat Property and has completed a re-analysis of historic induced polarization geophysical survey data. The 2011 field program resulted in 587 soil samples that were analysed for gold, silver, copper, lead, zinc and molybdenum, by mobile metal ion (MMI) methods. The purpose of the 2011 field program and data review was in part to verify historic analytical and geophysical data, some of which was obtained as early as 1978, and to apply present-day methods of exploration. The conceptual exploration model is a porphyry-scale deposit that involves alkalic granitic intrusions and related fracturing and alteration.
MMI-type soil samples are taken and processed differently from conventional soil samples. Metal ions present in near-surface soils are captured by a weak acid leach rather than by complete digestion in strong acids. Analysis is by ultra-sensitive induced coupled plasma mass spectrometry instrumentation that measures to sub-parts per billion levels.
The Hat Property MMI analytical data confirms historic data from a program of conventional soil sampling and show that anomalous copper, gold and silver values are present in an area with dimensions in excess of 900 metres by 600 metres (see Figure 1). Coverage is partial and the geochemically anomalous area appears to extend beyond the limits of the 2011 field program. It does however coincide in part with historic resistivity and chargeability induced polarization geophysical anomalies that have been reviewed by Doubleview’s consulting geophysicist, John Buckle, P.Geoph. P.Geo. As a result of that review, Doubleview is planning an aggressive 2012 field program that will apply further technical surveys, including geochemistry and induced polarization geophysical surveys, in order to determine the extent of the anomalous area. A diamond drilling permit application has been submitted for approval to the Ministry of Energy and Mines.
Hat Property geochemical soil samples were analysed by SGS Minerals of Toronto, Ontario, a licensee of MMI Technology and WAMTECH of Perth, Australia, using MMI digest liquors provided by WAMTECH. Components are strictly controlled by WAMTECH and all reagents have limited use-by dates. Internal QA/QC protocols of licencees, including SGS, are tested frequently to ensure accuracy of MMI analyses. Doubleview ensures that chain-of-custody is maintained at all times from the point of collection to delivery to the assay laboratory.
About the Hat Property
Doubleview has an option to acquire a 100% interest in the Hat Property, subject to a 2% net smelter return that is retained by the optionors. The Hat Property, located 95 km west of Dease Lake in northwestern British Columbia, is comprised of six mineral tenures with total area 1891 hectares.
The Hat Property is a highly regarded early stage exploration prospect situated in the Stikine District where several large copper-gold properties are being actively explored, including Red Chris (Imperial Metals), Schaft Creek (Copper Fox), Galore Creek (Novagold and Teck), and Kutcho (Capstone) where permitting, environmental studies and pre-feasibility studies are in progress. The Hat Property 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 Property and has reviewed and approved the technical disclosure of this news release. Mr. Ostensoe has verified the results and data contained in this news release. Mr. Ostensoe is not independent as he is a shareholder of Doubleview and is an optionor of the Hat Property.
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
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 implement and complete an exploration program on the Hat Property, Doubleview requiring additional financing in order to implement its proposed exploration program on the Hat 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 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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