VANCOUVER, British Columbia, February 3, 2015 /PRNewswire/ --
Doubleview Capital Corp. (TSX.V, DBV) (the "Company") is pleased to report that gold-copper mineralization in Sheslay Red Stock continues to increase at depth in drill hole H-23 with just received assay results returning the strongest gold-copper values encountered at the Hat Project since first-ever drilling commenced in 2013.
Highlights are as follows:
- A second and wider pyrite-rich zone in H-23 returned 0.73% CuEq* (0.36 g/t Au and 0.47% Cu) in a 110.9-meter section beginning at a depth of 270.6 meters, including 74.2 meters grading 0.96% CuEq (0.45 g/t Au and 0.61% Cu);
- Assays are pending for a third, wider chalcopyrite-pyrite zone that was visually observed to extend for at least 120 meters beginning at a depth of 402 meters, the current end of sampling;
- H-23, with the best gold grades of any hole drilled so far at the Hat Project, confirms the presence of a very large and robust porphyry system with growing potential for discovery of a high-grade gold-copper core.
Drill Hole H-23 to 400 Meters
Gold and copper mineralization in H-23 started at a depth of less than 60 meters, and the hole through 400 meters also features sections with elevated values of molybdenum, zinc and cobalt substantially higher compared to earlier holes. The potential significance of this is being reviewed by Doubleview's technical team.
A 278.2 meter interval from 67.9 to 346.2 meters returned 0.28 g/t Au, 0.65 g/t Ag and 0.32% Cu (0.53% CuEq).
Farshad Shirvani, Doubleview President and CEO, commented: "Drill Hole H-23 elevates the Hat Project to a new level. We're eagerly anticipating assay results from the last 250-meter section that was completed just prior to the December break. Those results may necessitate extending the hole beyond its present depth of 650 meters.
"In just 23 holes, we've taken the Hat from a grassroots stage to the point where it is now showing significant potential as an important new porphyry discovery in the underexplored and prolific Sheslay district just over 100 km northwest of the Red Chris mine. New infrastructure has added to the already huge opportunities for additional major discoveries and mining development in this part of the province."
Drill hole H-23, drilled from the north toward the south, extended the northern boundary of the Lisle Zone mineralization by approximately 110 meters (the Lisle Zone of the Hat system is now half a kilometer wide and 1 kilometer long) and also confirmed that strong mineralization is present about 220 meters below the zone encountered in drill hole H-22, the nearest drill hole.
Significant Assay Results - H-23
DDH From To Length (m) Au (g/t) Cu (%) Ag (g/t) CuEq(%) H-23 67.9 400.3 332.4 0.25 0.29 0.56 0.48 Incl. 67.9 346.2 278.2 0.28 0.32 0.65 0.53 Incl. 186.3 226.7 40.4 0.61 0.35 0.44 0.79 Incl. 270.6 381.6 110.9 0.36 0.47 0.34 0.73 Incl. 271.9 346.2 74.2 0.46 0.62 0.44 0.96 H-23 400.3 650.0 Assays Pending Location : UTM E = 347,949 m, UTM N = 6,454,400 m , Elevation = 1,008.8 m, Dip = -62.5degree(s), Az. = 180degree(s) True Width is unknown.
Results for the remaining 250 meters of drill hole H-23 will be released as soon as they are received, reviewed and interpreted.
Follow the link below to view section drawings of H-23 and other nearby drill holes.
*%CuEq is estimated as follows:
Cu Eq Calculated for Cu at $2.54 / lb, Au at $1265 / oz and Ag at $ 17 / oz.
Quality Assurance and Quality Control
Drill hole H-23 samples were prepared and analyzed following industry-standard QA/QC protocols. 15 samples with gold, silver and copper values that varied in the range of 0.006 to 2.903 ppm for gold, 0.005 to 70 ppm for silver and 0.0162 to 1.55 % for copper were submitted to a second independent fully accredited laboratory. The Company is satisfied that the comparisons are within acceptable limits for a porphyry deposit but will continue monitoring the reliability of all analytical results.
Doubleview observes industry-standard quality assurance and quality control protocols. All drill cores are sampled on site by sawing the core length-wise and placing one half securely in a bag for transfer to the prep lab; one half is retained on site for future reference. All core samples are submitted to an independent fully accredited ISO 9001:2008 certified analytical laboratory where gold is determined by fire assay and atomic absorption (AA) methods, and for 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) are analysed by atomic absorption.
QA/QC protocols are observed at all stages of core processing, including security in transit of samples with "chain of custody" documentation, preparation of duplicate samples from pulps, insertion of standard samples into the sample stream, replicate analyses of samples, and performance of check assaying by a second independent laboratory. In the recent past data were reviewed by an independent consultant who found all analytical data to be acceptable in terms of reproducibility.
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], [OTC: DBLVF], [FSE: A1W038]. 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
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.
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.
Doubleview Capital Corp., Suite 310, 675 West Hastings Street, Vancouver, BC V6B 1N2, Farshad Shirvani, President & CEO, T: +1-(604)-678-9587, E: email@example.com
SOURCE Doubleview Capital Corporation