Doubleview Drills Into Strongest Mineralization Discovered so far at Hat Property
Doubleview Capital Corp. (“Doubleview”, the “Company”) (TSX-V:DBV) is pleased to report that the Company is preparing to re-start diamond drilling at its Hat Cu-Au porphyry discovery in the Sheslay district, northwest British Columbia, after intersecting the strongest mineralization yet encountered at the property in the most recently completed drill hole, HAT-022.
HAT-022, collared 230 metres east of HAT-012 and 87 metres east of Hat-011, returned 404.2 metres of 0.25% Cu and 0.255 g/t Au (0.4% CuEq), including a 118.4-metre interval grading 0.55% Cu and 0.41 g/t Au (0.80% CuEq).
- HAT-022 demonstrates the potential for higher grades and length within the Sheslay Red Stock zone of alteration identified earlier this year;
- All 7 new holes show continuity of mineralization and some include the Hat’s best grades to date in the Lisle Zone;
- Mineralization remains open in all directions – several large coincident geological, geophysical and geochemical targets surrounding the Lisle Zone have yet to be drill-tested.
Mr. Farshad Shirvani, President and CEO, stated: “These latest results confirm our belief that the Hat Property has become a very important new discovery with large-scale deposit potential in a robust, under-explored district where Doubleview is taking a leading role. We have systematically advanced this project through each round of drilling, expanding the mineral zone both laterally and to depth so we have ample reasons to expect fresh breakthroughs as work continues.
“We have assembled an exceptional technical team under the leadership of Mr. Pat McAndless, P. Geo., the Company’s senior technical advisor, that is passionate and driven to succeed. We have a vision for where this is going as we build tonnage, find higher grades, and demonstrate scale. The property is fully permitted and the camp and complete drill outfit are on site”.
Table 1 : Significant Assay Results of this drilling program:
|DDH||From (m)||To (m)||Length (m)||Cu (%)||Au (g/t)||Ag (g/t)||CuEq(%)|
|* includes 2.0 metre contaminated sample recorded as 0 value|
Assays are uncut, length-weighted average values. True widths of mineralization are unknown. Copper equivalent (CuEq%) values are calculated using prices of $3.05/lb Cu and $1196/troy ounce Au: CuEq% = [Cu% + (Au g/t*0.583)].
Table 2 : Drill Hole locations are tabulated in the following table:
|Drill Hole||East (m)||North (m)||Elevation (m)||Azimuth (°)||Dip(°)||Depth (m)|
A Drill Plan is located on the website of the company at:
Drill holes HAT-016 and HAT-017 successfully targeted the southwest continuation of the Lisle Zone. Drill hole HAT-018, directed to the northwest, was abandoned in strong copper-gold mineralization and short of its intended target due to difficult drilling conditions in fractured sulphides. Drill holes HAT-019 and HAT-021 expanded the Lisle Zone southwest in the down-slope direction whereas Drill hole H-20 expanded the Zone northerly. Drill hole HAT-022 was an 87 metre step-out to the east of drill hole HAT-011 that assayed 451 metres of 0.21% copper, 0.18 g/t Au and 1.79 g/t Ag (0.33% Cu Eq), including 330 metres of 0.25% copper, 0.22 g/t Au and 1.84 g/t Ag (0.39% Cu Eq).
Due to the fact that that potential metal recoveries in possible future mining and processing operations at the Hat Project have not been investigated and are unknown, and because both precious and base metal market prices are volatile in both the short and long-term, copper equivalent (CuEq%) estimates cannot be used to predict the current or future value of Hat mineralization. While Doubleview is very encouraged by results from 22 drill holes completed to date at the Hat Property, there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a resource.
Quality Assurance/Quality Control
All drill cores were sampled on site by sawing the core length-wise, placing one half core securely in a bag for transfer to the prep lab and one half retained for future reference. 1365 core samples were submitted to an independent fully accredited ISO 9001:2008 certified analytical laboratory where gold was determined by fire assay and atomic absorption (AA) methods, and 45 other elements, by four acid digestion followed by induced coupled plasma/emission spectrometry (ICP-ES) determination. Samples with copper content greater than the ICP upper detection limit (>10,000 ppm) were analysed by atomic absorption. QA/QC protocols were observed at all stages of core processing, including security in transit of samples with “chain of custody” documentation, preparation of duplicate samples, insertion of standard samples into the sample stream, replicate analyses of samples, and performance of check assaying by a second independent laboratory. Data have been reviewed by an independent consultant who found all analytical data to be fully acceptable in terms of reproducibility.
Mr. Erik A. Ostensoe, P. Geo., a consulting geologist, is Doubleview’s Qualified Person with respect to the Hat Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Ostensoe has reviewed and approved the technical contents of this news release. He is not independent of Doubleview as he is both a shareholder and 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. 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.
Suite 310, 675 West Hastings Street
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 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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