Doubleview To Resume Drilling At Hat Project
Doubleview Capital Corp. (“Doubleview”) (TSX-V: DBV) is pleased to report that it is finalizing plans to launch a fresh round of drilling to expand the Hat Project discovery in northwest British Columbia’s prolific Sheslay district. The Hat Property this year has attracted direct attention, including site visits, from major international mining companies who have also contributed to the growing understanding of the Lisle Zone and surrounding targets within a large corridor of gold-copper porphyry mineralization.
Planned upcoming drilling will include completion of hole H-25 that was temporarily halted at a depth of 270 meters in early July following the arrival of some members of the local First Nations community. The deepening of H-25 will be followed by the investigation of promising areas that are highlighted in the Company’s just-concluded comprehensive review of historic and recent technical data. That review has provided fresh and exciting interpretations of the geologic and physical setting of the Lisle Zone and other parts of the Hat Property. These insights have substantially expanded the target areas, and the Company looks forward to reporting on this in the near future as soon as a final report is received.
All work at the Hat Property is being conducted in full compliance with provisions of multi-year mineral exploration Permit MX 1-872.
Following the interruption of drilling in July, Doubleview initiated legal action against individuals of the First Nations community who participated in that blockade for an injunction to enable the Company to resume work. The legal counsel for certain individuals has indicated to Doubleview’s legal counsel that his clients’ position is that there are no impediments to Doubleview’s access to the Hat Property.
In addition, in a draft response to Doubleview’s application, these individuals stated, “There has been nothing in the way of the Plaintiff returning to the property to continue its program.” The draft response has yet to be received in final form.
Under these circumstances, and given the current situation at the adjoining Grizzly Central where a drill program continues, Doubleview believes there will be no interference with its upcoming program.
First Nations members employed by Doubleview have been instrumental in the success of the Hat Project since first-ever drilling commenced in 2013. The Company looks forward to a positive dialogue with First Nations that will create a long-term successful working relationship that fully respects cultural, social and economic interests. Jo Harris and Associates, a leading community relations consulting group that has guided clients through the approval process for 13 major mines in British Columbia, has been engaged by Doubleview.
The company wishes to remind shareholders that it has proposed to decrease the exercise price of 3,931,251 share purchase warrants previously issued in private placement financings since August, 2014, to 20 cents per share (see November 16 news release). Exploration at the Hat Project, including the above mentioned program, is always subject to the Company successfully concluding financial arrangements.
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], [OTC: DBLVF], [GER: 1D4]. 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 V6B 1N2
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 ability to implement its exploration program on the Hat Property, 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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