Doubleview Capital Corp. (“Doubleview”) ([TSX-V: DBV], [OTCBB: DBLVF], [GER: A1W038]) announces that it has received a new and enhanced exploration permit for its Hat gold-copper discovery located in northwest British Columbia from the provincial government. Now the Hat property has 20 additional drill sites as well as up to 50 short-hole drill sites. Doubleview applied for further drill sites following a comprehensive assessment of previous surveys and drill hole data which suggest that the identified zone of gold and copper mineralization may be larger than originally thought.
The permit application was also reviewed by the Tahltan and Taku River-Tlingit First Nations within whose asserted traditional territory lies. Since acquiring the Hat property Doubleview has worked closely with these First Nations in matters such as opportunities in employment, contracting, and provision of supplies and logistics. Importantly studies commissioned by Doubleview show no strategic archaeological sites within Doubleview’s permitted area. All drilling operations to date have been conducted by a First Nations company and personnel and the Company is committed to maintaining and expanding that mutually beneficial relationship.
Doubleview is in late stage discussions to conclude a substantial financing that will enable resumption of exploration of both the partially-defined Lisle Zone and several other unexplored areas that have closely similar geological, geochemical and geophysical characteristics. Property work will commence immediately and likely will continue until the onset of prohibitively severe winter conditions.
The Hat property hosts the Lisle gold-copper alkalic porphyry zone which has been explored by 8300 metres of drilling in 25 holes. The objective for 2016 is to further define the tenor of the mineralization and extends it with 10 to 15 holes (estimated total length about 7500 metres) which may allow the estimation of a preliminary resource. The drilling on the Lisle zone extends over 1000 metres in the east-west dimension and several hundred metres wide at this time.
Highlights of the drill hole assays completed to date include the following intercepts (true thicknesses have not been determined):
|Copper Equivalent Calculated Based on current metal prices
Copper @$2.15/lb , Gold @$1336/oz, Silver @$19.64/oz
Drill hole H-23 was drilled approximately 210 metres vertically below drill hole H-22 and the Gold and Copper mineralization in both appear to be increasing in tenor with increasing depth. When the drilling resumes this fall, Doubleview will further investigate this apparently significant trend within the Zone.
The Lisle Zone has not been fully delimited in any dimension and no acceptable resource estimation has been conducted.
Gold of the Hat Gold-Copper Deposit:
In the context of Porphyry type deposit model the Gold content of the Lisle Zone is one of its most significant features of the Hat Property.
The following table contains selected higher grade gold bearing samples (previously reported) from throughout the 1000m strike length drilled to date. The relatively high Gold to Copper ratio elsewhere within the overall mineralized zone may indicate the presence of a higher Gold bearing Zone within a broader Copper dominant mineralized halo.
Several geochemical soil sampling programs on the Hat property by the previous owners and by Doubleview have demonstrated that anomalous Gold occurs in conjunction with Copper: In particular a soil sample from the Anomaly D area, approximately 2000 metres southwest from the Lisle Zone assayed 0.38% Cu, 55.26 g/t Au and 27.9 g/t Ag.
Furthermore, the following table compiles the analyses of surface rock samples from a 2008 exploration program that illustrates the range of metal values, particularly gold values that are found on the Hat property.
Mr. Erik A. Ostensoe, P. Geo., a consulting geologist and Doubleview’s Qualified Person with respect to the Hat Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, 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], [OTCBB: DBLVF], [GER: A1W038]. 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. The Company’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.
409 Granville St., Suite #880
Vancouver, BC V6C 1T2
Farshad Shirvani, 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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